Sosa Has Another Incredible Number: $72 Million
After putting up some incredible numbers the past three years, Sammy Sosa has the contract extension to match.
Sosa signed a deal with the Chicago Cubs on Friday that extends his contract for up to four years and is worth $72 million.
“I’m very happy. I always said I wanted to finish my career here and Chicago has been great to me,” Sosa said, surrounded by his family at a news conference at the Cubs’ spring training camp in Mesa, Ariz.
“When I retire, I’m going to retire with a Chicago Cubs hat in the Hall of Fame.”
If Sosa puts up big numbers, he would get $32.75 million over two years and have the chance to negotiate another new contract.
His deal includes a $6 million signing bonus, $12 million in 2002 and $13 million in 2003. Sosa can either terminate the contract after that season and become a free agent, or exercise player options for $16 million in 2004 and $17 million in 2005.
Sosa also gets a $3.5 million severance payment when the contract ends, but that figure is cut in half if he leaves after the 2003 season. If he exercises the player options, the Cubs get an $18 million team option for 2005 with a $4.5 million buyout.
With an average annual salary of $18 million, Sosa will have the fourth-highest average salary in baseball, trailing only Alex Rodriguez ($25.2 million), Manny Ramirez ($20 million) and Derek Jeter ($18.9 million).
However, because none of Sosa’s money is deferred, taking discounting into account, he’ll have the second-most lucrative average salary.
“When the player really wants to stay and the club wants him, you find a way to work it out,” said Andy MacPhail, the Cubs’ president and general manager, who negotiated the contract with Sosa’s agents, Tom Reich and Adam Katz.
“Absent A-Rod, on an average annual value basis, this is the second-highest contract in baseball, as it should be, based on what Sammy’s been able to achieve over his career.”
Sosa’s been one of biggest baseball stars since his home run duel with Mark McGwire in 1998, which electrified the nation. McGwire hit a single-season record 70 homers that year, while Sosa had 66. He was the National League MVP that year.
Over the past three years, he’s hit 179 homers, batted .305 and averaged 146 RBIs.
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Rickey Henderson, hoping for a job and a chance to reach more career milestones, will meet with the San Diego Padres this weekend, The Associated Press has learned.
According to a source familiar with the negotiations, the 42-year-old Henderson will talk to the Padres about a possible role on the team he once played for.
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Arizona Diamondback pitcher Todd Stottlemyre has weakness in the muscle in the back of his right shoulder. Stottlemyre, who turns 36 on May 20, will have to work on strengthening the muscle for at least a month before he can pitch.
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Money Players
Sammy Sosa’s new contract makes him the fourth highest paid player in baseball based on average annual value. A look:
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Player Club Years Avg. Salary Alex Rodriguez Texas 2001-10 $25,200,000 Manny Ramirez Boston 2001-08 $20,000,000 Derek Jeter New York (AL) 2001-10 $18,900,000 Sammy Sosa Chicago (NL) 2002-05 $18,000,000 Jeff Bagwell Houston 2002-06 $17,000,000 Carlos Delgado Toronto 2001-04 $17,000,000 Roger Clemens New York (AL) 2001-02 $15,450,000 Mike Hampton Colorado 2001-08 $15,125,000 Kevin Brown Dodgers 1999-05 $15,000,000 Chipper Jones Atlanta 2001-06 $15,000,000 Mark McGwire St. Louis 2002-03 $15,000,000 Mike Mussina New York (AL) 2001-06 $14,750,000 Shawn Green Dodgers 2000-05 $14,000,000
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