Pedroia signs extension
The 2008 American League Most Valuable Player is now under contract with the Boston Red Sox for years to come, and both the player and the ball club couldn't be happier.
"I'm extremely excited," Dustin Pedroia said at a Fenway Park press conference this afternoon confirming that the popular and remarkably productive second baseman had signed a six-year, $40.5 million contract extension. "I definitely wanted to be here a long time and help the Red Sox win. Today it happened, [and] hopefully the next six years we can win some championships."
Pedroia will receive a $1.5 million signing bonus and a $1.5 million salary in 2009. He will be paid $3.5 million in 2010, $5.5 million in '11, $8 million in '12, and $10 million in both 2013 and '14. The club option for '15 is for $11 million, or the Sox can buy him out for $500,000.
The 25-year-old, who batted .326 with 17 home runs and 83 RBI en route to winning the MVP in his second major league season, said signing the deal was an easy decision.
"My first thought about the whole thing was I play for the best team in the major leagues," Pedroia said. "Who wouldn't want to play for the Boston Red Sox? We're going to have an opportunity to win every single year. The fans are the best, the city embraces their team. So why not? It fits."
Pedroia, 25, led the AL in hits (213), runs (118) and doubles (54), and also won the Gold Glove and Silver Slugger awards, becoming just the eighth player in league history to take all three honors in one season. He also became the third player to win an MVP award the season after being named rookie of the year.
With his hard-nosed style, Pedroia established himself as one of the Red Sox' leaders on the field and off, a characteristic general manager Theo Epstein acknowledged during the press conference.
"Dustin plays hard, first and foremost, all the time," Epstein said. "He plays to win. He plays for his teammates, not for himself. He's the type of player, he's not motivated by money, he's motivated by championships. He's prepared, he takes care of himself, he's professional . . . he's kind of everything you look for.
"He's a leader in the clubhouse, I think he's a leader on the field with the way he approaches the game, and he's really talented and helps us win every night. . . . If we had 25 guys like this we'd be in good shape. I don't think we'd be the Red Sox right now without Dustin Pedroia."
For the Red Sox, the significant point is that they bought at least two of Pedroia's free agent years for $10 million per season. If the club exercises the '15 option, they will effectively have signed Pedroia, who is eligible for free agency in '12, to a three-year deal worth $31 million. It is one of the four biggest non-arbitration contracts ever, along with those signed by Florida's Hanley Ramirez, the Mets' David Wright and Milwaukee's Ryan Braun.
The benefit for Pedroia is that he guarantees himself a good deal of money now and gains a great measure of long-term security, though he conceded he probably could have made more money had he eventually gone to free agency. He said that wasn't a consideration in his mind.
"I know that if I would have gone year to year, yes, I would probably have made a lot more money. I understand that without a doubt," Pedroia said. "But I'm here in a place that I love, my family loves it. They treat us unbelievable. It's like a family here. I'm happy with this. I'm extremely excited, my wife's excited, my parents, they're ecstatic. . . . I want to be here. I want to play for the Red Sox and I don't want to play for anybody else. So it just seemed right to do something."
If the Red Sox exercise the seventh-year option, Pedroia's contract will be worth $51 million, an average of just under $7.3 million per season. Without the option, the deal is worth an average of $6.75 million, which becomes Pedroia's average annual salary from 2009 to 2014. That $6.75 million is the number which will be used in the formula to determine the Sox' payroll for luxury tax purposes.
The option will increase to $13 million if Pedroia wins another MVP at any point over the next six years. Anytime he finishes in the top three of the voting, his option would increase by $1 million each time, capping at $13 million. At most, barring award incentives, the deal could be worth $53 million over seven years.
Pedroia, who owns a .313 batting average with 27 home runs and 140 RBI in 327 games with the Red Sox, will be 32 at the end of the deal. He was typically confident regarding how the contract will play out.
"I'm going to be the player I am for longer than 32, I can tell you that for sure," Pedroia said. "I saw how long the deal was and I was excited about it. That means I get to be here with the place I love for the next six or seven years. That's the way I looked at it."
The Globe's Amalie Benjamin and Tony Massarotti contributed to this report.
This is a steal. How did the Sox get him so cheap?
In two years, if he keeps putting up the kind of numbers he has so far, and keeps playing as hard-nosed as he has, people will be calling this the best team-favoring contract in the sport.
I thought the David Ortiz contract was a steal, too...but this might end up being even more of a larceny.
Good for the Sox!!!!!!!
Technically, Ken Rosenthal broke the story.
Great news,good to see Dustin is going to be here for a long time.Now sign Texeira and we will all be very happy.
Awesome! Now let's get Youk extended this off-season too!!!
In today's world of insane contracts for athletes, this could be the steal of the year.
Awesome. Now get Youk to do the same.
taking care of business
Congrats to Pedey and the Sox. Great news!
And a bargin at that. What a great deal for the Sox. I don't think Youk or Papelbon will be as accomodating, but just getting one of them done is huge in terms of 'cost certainty' and planning the payroll going forward.
By the calculations of the US treasury (www.moneyfactory.gov), “A stack of currency one mile high would contain over 14.5 million notes.” There are 5,280 feet in a mile, and 12 inches in a foot, yielding 63,360 inches in a mile. Divide this by 14,500,000 in order to get how many inches a single note would be, and you get roughly 0.0043697 inches per note. There are 100 $20 bills in a stack, making an entire stack about .43697 inches. To make things easy, let’s just assuming it’s 0.5 inches in height.
Dustin Pedroia is 5’9”: 69 inches. Divide 69” by 0.5" to get a total of 138 stacks of $20 bills ($2,000); this yields $276,000.
Pedroia’s contract is $40,500,000 for 6 years, earning him $6,750,000 a year. Divide this by the $276,000 mentioned and you roughly get a little below 24. Because of a margin of error (stacking and measurement contraints), let’s round up to 25. Dusty was born in ’83, making him 25 years old.
In sum, I believe that it is safe to say that the Sox organization made a deal with him: We’ll stack $20 bills to reach your height, then multiply it by your age, and that’s what you’ll get each year.
Way to go Nupp!! You signed your big deal!!
Say hello to my little $40 million friend.
Say hello to my little $40 million friend.
Very Good. Now lock up Youk and Lester!!!!
Great job by Theo and Pedroia's representatives. He has now job security and a very fair deal for both the Sox and himself. Congrats! Is Youk next?
Further proof of my theory. The economics of baseball and free agent spending have changed dramatically.
sounds like a steal
Now it's time to take care of Youk!!!
Great deal for the Sox, smart, savvy business decision. Locking Pedroia up is great, and this deal works well for them...wonder when they'll do the same for Papelbon.
Kudos for not using the word "diminutive" as an adjective for Pedroia.
Good for You, Pee Wee......!!!!
i hope he's happy because he left a lot of $$ on the table. youk got $3M this year from arbitration (actually settled just before arb) and will likely get $6-9M this year. Pedey had a better year so with one more year w/o arbitration he would have three year of arb and two FA years. Youk has two extra years of service time so he's not as controllable plus he still remembers riding the Pawtucket shuttle. Paps is a psycho (in a good way) so he won't accept a LT deal to buyout FA years. In the end the RS will keep all three because they will pay the market price and these guys love to play here.
6.75 MIL a year...what a steal!!!!
That's the best news I've heard all day!!! Dustin - Doing it for the little man!!
Great deal for both sides! Sox lock up one of their best young players and Dustin gets financial security for life. Now the Sox need to do the same with Youkilis.
this was a great move by theo ! We re set at second base and the number 2 hole for a long time on the cheap gives us money to go get texeira and win the world series. good job theo take care oy youk,lester. and pap now . and dont loose out on texeira and the sox will be the team for the next 5-8 years, GO SOX!!!!!!!1
Way to go Petey!
Awesome. Just plain awesome. The Sox should do the same with Papelbon, Youkilis, Masterson and Lester ASAP.
Great news for both the Sox and El Caballito! Now they need to do the same for Lester (I'd be amazed if they aren't trying).
Excellent move. Been wondering when the Sox were going to lock up some of the young talent.
Great job on locking up Pedey. Now when are you gonna do the same for Youk, Pap, and Lester?
Awesome.
Great move, Theo. This kid is a fabulous player and competitor. Keep him in Boston for the duration. Here's your new captain.
The Dust Bin is da man
He deserved it ?
sweet!
I like it. Similar to what the Rays and Evan Longoria did. Sign you good young talent early. The Sox should be doing similar deals for Youkalis, Ellsbury, & Lester.
Perfect example of forward thinking by the club AND of a player's reasonable expectation. Great thinking by both sides. This is how it should be done.
This is spectacular news. Now, please follow-up with a similar report on Youk...
GREAT deal for the Red Sox!! Pedroia is not the type to sulk about a deal...If he actually improves, which can happen as he just turned 25, then this deal is costing him a fortune....Even in arbitration his salary would soar..As a free agent??
If he were a free agent right now, hed get offers like 6 years $110 million.
The last 2 years of this deal the Sawx do not have to worry about this kid pulling a Manny on them....GREAT job Theo!
That's a lot of money for a singles hitter...
Awesome news. The kid is a player
Hmmm. . .this deal seems to make excellent sense from both parties' POV. What it makes me wonder immediately, though, is why this is not happening for Youk, Pap, and Lester. My brain is foggy today, but I've heard Youk and Pap had been offered longterm extensions but were waiting for their free agent window to open, gambling they'd stay healthy & productive to that point and thus pull in the truly huge dollars at that point. Me, I think Pedey took a wiser approach: if the stars aligned in health and performance and market, he could make more come free agent time--but instead of all those ifs, he and his family have $50+ million in their pocket. . . not too shabby !
It's impossible to say. Did Dustin want mega bucks or does he
want to stay in Boston, and he isn't a selfish " I gotta make as
much as I can to feed my FAMILY" ! We don't know any or this
yet, so it is hard to say. We all know of the economy, and I believe
the downside hasn't even begun to hit us. I feel maybe both sides
see the reality of where the world is at and know the consequences
of huge spending at this time. I say considering the time we are in,
it is a win/win situation.
Yes
Steal. This kid is an MVP after his second season and the deal averages out to $6.75 million a year. JD Drew will make more than double what Pedroia makes, I mean c'mon! I love that the Sox will have this kid annoying pitchers and winning gold gloves for years to come.
Great deal for all parties! Nice to see Theo and the Sox locking in on a truly quality player
great deal for both he,s got security and they have one of the best 2nd basemen in the majors. now what about lester
This deal makes me wonder how the Troy Tulowitskis, Evan Longorias, and Ian Kinslers of the world got so much less. Great deal for Pedroia.
Its great to see Pedroia staying here in Boston! I believe he is a stong role model for our kids and a positive player to have on our team! That being said, I find it both discouraging and disgusting to see this amount of money being spent on one player (and I'm not just pointing at Pedroia)! Especially when our economy is in shambles and people everywhere are being laid off and struggling to make ends meat! Let's face it, professional athletes are way overpaid! And in a time when most of us are feeling the economic pressure...this is a slap in the face!
Awesome deal! Gives Pedroya the Destroya a reasonable amount of money early in his career and the Red Sox get a solid second baseman for the next 6 years. Kudos to the Sox for locking this one up. What will Cano get from the Yanks? My guess is over $10 million a year and Pedroia is a better 2nd baseman. Plus not to mention that Pedroia is a class act and Boston loves him. I like to see that little dudes like us can play with the big boys. He worked hard to get there and deserves it.
Great, one sigh of relief!
Sox made a great deal. His agent should be fired.
I think he sold himself short.
What a bargain! Scott Boras is probably coughing up blood thinking about it!
sweet deal for sox!
great deal. he is motivated by other things than money. It's a nice reward for 2 really good seasons in a row.
YAY! Pedroia deserved that! Great to know we locked him up for six years!
Worth every penny and then some.
He's probably worth more, but I'm glad to have him on the Sox for the next half dozen years or so. Well Deserved & in all likelihood a very good deal for the Redsox, more so than him.
This cheap Red Sox team are really lucky to be able to sign good players and good persons for a very cheap price!!
I could not be happier for Justin Pedroia, he's a great player and one of the reason's I don't miss one of the Red Sox games on television.
Good, I love hearing the Red Sox are rewarding their in house players and a guy like Pedroia deserves and has earned every penny. This is great news for any Red Sox fan.
pound for pound i think this is a great signing for both sides. dustin is right up there with the best second basemen in the MLB right behind utley. he hits for average drives in runs, a home run threat, scores runs, steals, great defense, team player. what more can you ask for? love this deal. early christmas present for sox fans.
Looks like a great deal for the Sox and not too shabby for a 2nd year player. So what's in store for Youk? It's hard to view him as much less valuable to the team.
I'm happy that the Sox at least signed one of the better players to a contract! How about Youk? Is he signed for a long term contract?
thats got to be the biggest no brainer in history.
Great deal for both sides, I was one of the people who thought Pedroia would never survive, and I gladly feast on crow. But does this create potential problems with others such as Youk or Pap?
Congrats Pedey! You are a pimp and I'm sure this will be worth every dime. Thanks Theo and Co. for locking this guy up.
What a waste!! Looks like Texeria will not be under the Christmas tree.
Great move. We lock him up for years to come, and he is still one of the best bargains in baseball. Our MVP gets 6.75 m, and he is the top AL second baseman. Great Signing
That's awesome. He deserves it.
Couldn't happen to a nicer guy. I hope Youk and Pap are next.
Great deal both for the Red Sox and Pedroia. It is true Dustin could have held out for more but it is a measure of the spirit of the man that he valued security more than a "few extra million he would probably have difficulty spending". Now the next thing Theo should do is the same thing with Kevin Youk!
This is a GREAT deal for the Sox and a VERY GOOD deal for Pedey. The Sox clear up some of the murky financial future by locking up a great player long term. Pedey gets good guaranteed money w/fair raises in yearly salary plus enhancements for performance. Yes, Pedey gave up free agent years but he's smart enough to know that this deal is money in the bank and he stays on a team w/perpetually realistic World Series chances. And if he continues to shine, he'll still cash in when he's relatively young. It's a win-win. Well done on both sides.
YYYYOOOOUUUKKKKK better be next. I would hate to see this cause a problem for another young rising star.
THE RED SOX GOT A BIG BARGAIN. RICHIE,
Finally. Lockin' up the youth. Pedroia is a player that you know will play through pain and be one of those Jeter type players that does it in year and year out should you compensate his worth. Great sign. Would love to see them skip out on a huge free agent signing and go after Lester, Papelbon and Youk. What a huge, solid, core of talented players bound to be cornerstones of what is Sox Nation.
good deal
Excellent move by the Sox. Now let's tie up Youk.
Didn't MLB try to outlaw BBWAA awards as incentives in contracts (i.e. no bonuses for MVPs)? I thought I recalled something like that after Schilling's big contract was all incentivized all over the place.
I honestly think this was a steal for the Red Sox. I think Dustin should have get more money.
Anyway... I'm glad that Pedroia will stay with us 'till 2014.
Congrats!
It is a great deal for both Pedroia and the team. My question is what does this deal bode for Youklis. He is two years further along and going into his second arbitration year. This would seem to be the optimal time to sign him, I bet he is thinking that the reigning MVP is bringing his contract value down? What do you think?
Hooray. Dustin's the real deal.
This is a great deal for everyone: Pedroia, the Red Sox, and Sox fans. It demonstrates that Pedroia wants to play for the Sox, the Sox want him to play for them, and the fans get to see his physics-defying swings at the plate and hit-stealing slides on the outfield grass for many years to come.
Maybe he can now afford a mach 3 razor and shaving cream
I understand Youkilis was interested in a long term extension last offseason but the Sox were not. Is anything in the works for him? It is nice to see Pedroia locked up but Youkilis deserves a long term deal also.
My concern is how Youk and Papelbon and Lester will take this. They would seem to be core players as well with more experience, why shouldn't they be taken care of as well, aren't they in the Red Sox' long-range plans as well? Perhaps Pedroia is thinking like Longoria and take the sure money while Youk, Lester, and Pap think otherwise. It would be nice to lock them up as well.
Great to know that DP will be with the Sox for the long run. Love watching that tough lil s.o.b. play ball.
SWEET!
This is OUTSTANDING news. Great decision on both parties' part. I'm looking forward to the next 6 years! GO SOX!!!
Boston fans, in fact fan everywhere shold BOYCOT the entire season. People are loosing homes and much more. These baseball salaries are our of control.
The best bargain.
Who needs a louse like Ramirez when you can get a gem like Duatin
Im glad the Red Sox got Pedroia in a long term contract. Im glad they paid so little, but I do feel bad for little Dusty. An MVP should be making 20 million a year, not an average of 6.75 million. I guess this just goes to show how committed he is to the Red Sox organization and the great city of Boston. He will win at least 2 more MVP awards from now until this contract ends.
BARGAIN!!!!!!
A smart move by the Sox F.O.
Just his free agent years (1st three) alone could have cost nearly as much as this contract if he continued to perform at such a high level.
When you consider that Dustin was a low draft pick, coming into 2007, with the fears that he would not be able to be an everyday starter, and put the numbers he had the past two seasons, only shows that he is the real heart of the Red Sox, and shows it day in day out, with an attitude of a true professional. His personality and style harkens back to a day when it was truly about the game, and not the business in general. He is truly deserving of all the awards, and the contract, and I cannot be happier that he will be a Red Sox well into the future. Great Move Theo!
Absolutely brilliant on the the part of the Sox, and a good move for Petey. The Sox lock up a piece of their foundation and take a variable out of their financial planning. Pedroia reduces his risk, signs for money he won't spend in his lifetime, and can still cash in during his prime via free agency if he doesn't re-up with the Sox down the road. In the Marbury, Burress, Vick era, what's not to like about this guy. He may be the face of Boston, let alone the Sox.
refreshing. truly refreshing.
i don't think anyone wants to read about idiots like this making tons of money as others are struggling.
The sox did the right thing, they useally do, gonna be nice to see him around for a few years.
The Red Sox stole this stud. If he continues to produce at his current rate or even improve, well then, obviously he cost himself some money down the road. Then again, he's admitted he's where he wants to be, he's bought some piece of mind by avoiding possible acrimonious arbitration hearings and he's guaranteed himself much more money NOW at his age and service time compared to what he would make had he waited.
I'd say it's an incredible deal for the Sox and a pretty good deal for Dustin. I'm thrilled he'll be playing second base for the team for years to come.
AWESOME! now lets get Lester, Youk & Pap signed as well.
Hard nosed, scrappy, award winning....and now LOYAL. How do you NOT love a guy like him? Way to go Dustin, thank you from a LONG time fan.
Theo,put the "C" on him now......
Whatever else happens during the hotstove season, this is a bargain. Dustin's become one of the most exciting players to watch. Money well $pent.
It's amazing that with the current state of the economy -- and with bank and automotive CEOs at the center of public scrutiny for their soaring pay scales -- that a $40.5 million contract for an athlete doesn't make people uneasy, even in a town like Boston. It's difficult to stomach, especially when read alongside articles about foreclosures, lay-offs, and plummeting toy donations for needy children. Shameful.
where do you only one more ballplayer like that?
Phenomenal !!!
RLB
For lack of a better word, Awesome!
Tomen8r
Hooksett, NH
The kid deserve every penny he got. This is agreat move by the Sox. Let's give Youk his rewards too. Great Move Theo!! Go Sox!!
Who says there aren't any top players nowadays who put pride of team and place ahead of obscene profits? Good work Sox and Pedroia!
Supa!!!
Is Dustin Pedroia the most successful player to ever put on a Red Sox uniform already? Sure, the Sox have legends (Williams, Pedro, Yaz), but to my knowledge, he's the only player to wear a Red Sox uniform that is an MVP/Rookie of the Year/Gold Glove World Series Champion. Right?
Great deal for both sides.
I don't care what Predoria said but the Sox must have held a gun to his head. This is the steal of the century.
A great deal all around especially for the Sox. At that pay level, it'll be more difficult for Yuk coming off a 1 year at, what 3.3M?
We may be looking at a new first baseman and getting a trade starter too boot
beautiful!
What a huge coup for the team -- locking up a guy who is productive, a model professional, and appreciates (and relishes) the benefits of playing for this club in this town. Two thumbs up to Petey and to the Sox front office!
Glad to see it done. If a man can't live on 40 miliion while millions live on nothing, he's not a man. Dustin belongs on the Red Sox and he knows it. Thanks and praises.
Dan,
Agree with your earlier comments about him defying the odds at all times, but MVPedroia was not a low draft pick, I believe he went in the first round.
Way to go Sox. Pedroia should be the team captain if Tek doesn't come back. He's a competitive, old school, never-say-die, gritty, un-selfish ballplayer that loves to win. It's going to be a joy to watch him play in a Red Sox uniform for the next several years. Way to go Theo - in Theo we trust. Did they mention if Dustin has a no-trade clause? I doubt it.
The classic anchor and fun to watch play the game. The fans win.