From the Wire … Cubs Ink Starlin Castro to Seven-Year Extension

The Cubs and Starlin Castro finalized the rumored seven-year contract extension on Tuesday. Castro agreed to a seven-year, $60 million contract that includes incentives and a club option that could max out the contract at $79 million. The contract does not include a no-trade clause but Castro will earn Ten-and-Five Rights (a player with at least 10 years of Major League service, five years with the same team) before the end of this contract if the club option for the eighth year is picked up.

Starlin Castro said he wanted to stay with the Cubs and the 22-year old shortstop signed a very club friendly contract that includes a $6 million signing bonus.

According to Ken Rosenthal, Starlin Castro’s contract extension breaks out as follows:

  • $6 million signing bonus
  • 2013 salary – $5 million
  • 2014 salary – $5 million
  • 2015 salary – $6 million
  • 2016 salary – $7 million
  • 2017 salary – $9 million
  • 2018 salary – $10 million
  • 2019 salary – $11 million
  • 2020 club option – $16 million, with a $1 million buyout

If Starlin Castro wins the NL MVP award or finishes in the top five in voting (1-5) twice, the final year (2020) and option year escalates by $2 million.

The seven-year extension is a guaranteed contract and buys out all four of his arbitration years and his first three years of free agency. Castro will be 29 years old at the end of the seven-year extension.

Will update if financial terms are different than the ones Ken Rosenthal provided.

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