After reading all of the talk for days about the big bucks pitch the Mets were making for lefthander Barry Zito, the big prize went to the San Francisco Giants with little if any consolation for either the Mets or the Yankees who  apparently wanted to pitch him after unloading lefthander Randy Johnson. 

And was it ever a big prize!  Or shall we say a BIG Price?  $126 million for 7 years pending the results of a physical; that’s a whopping $18 million per season.  Only 5 others have earned more and  Zito becomes the highest paid pitcher in the game.

ESPN.com reports on information sources told ESPN’s Peter Gammons with Jerry Crasnick and Associated Press contributing;

The deal includes an $18 million option for 2014 and a complete no-trade clause, a source told ESPN.com’s Jerry Crasnick.

If Zito pitches 600 innings over the last three years of the agreement, 400 innings over the last two or 200 in the final year of the deal, he can either exercise a player option or opt out of the contract.

Zito is scheduled to have a physical Friday, and the Giants planned to announce their agreement with the three-time All-Star later in the day.

Zito’s deal ties for the sixth largest overall, matching the $126 million, seven-year extension agreed to this month by Toronto and center fielder Vernon Wells.  Previously, the largest contract for a pitcher was Mike Hampton’s $121 million, eight-year deal with the Colorado Rockies before the 2001 season.

Texas, Seattle and the New York Mets also pursued Zito, the top available pitcher on the free-agent market. The 28-year-old left-hander spent the last seven seasons across San Francisco Bay pitching with the Oakland Athletics, and staying in the area appeared to be a factor in his decision.

As part of his agreement with the Giants, Zito will fund the construction of youth fields in the San Francisco area through his foundation and donate to his charity, “Strikeouts for Troops.'’

 Only Alex Rodriguez ($252 million), Derek Jeter ($189 million), Manny Ramirez ($160 million), Todd Helton ($141.5 million) and Alfonso Soriano ($136 million) have contracts with more guaranteed money.

Zito’s is the 14th $100 million deal in baseball history and the fourth of the offseason following agreements by Soriano (Cubs), Wells and Carlos Lee ($100 million with Houston).

New York’s initial offer was for about $75 million over five years, and the Mets were prepared to go somewhat higher in average salary but were wary of offering a longer deal. Texas had told Zito’s agent, Scott Boras, that it would withdraw its proposal — valued at six years, $87 million, a source told Crasnick — if it wasn’t accepted by the end of the week.

“We gave it our best shot,” Rangers owner Tom Hicks wrote in an e-mail to the AP. “He’s a great pitcher and a fine young man. I wish him well and am glad he’s out of the AL West.”

Zito is 102-63 in 222 career starts, including a 16-10 mark with a 3.83 ERA in 34 starts last season before becoming a free agent.

The 6-foot-4, 205-pound 28-year-old was drafted in the first round, ninth overall, by the A’s in 1999 and made his debut the following season. By 2002 he was a star, making his first All-Star team and winning the American League Cy Young award. His 23-5 record led the league and he also boasted a 2.75 ERA.

Zito was also an All-Star in 2003 and last season.

Zito helped the A’s to the playoffs in his first four seasons, but Oakland lost in the divison series every time. Only last season did the A’s break through, beating the Twins in the ALDS before losing to the Tigers in the American League Championship Series. Zito’s postseason career record is a mere 1-5, but he boasts a 3.25 ERA.

Zito has been known for his durability. His 173 starts over the past five years rank first in Major League Baseball.

But off of viewing Zito’s career stats, my vote is with Rob Neyer who writes;

The only thing this deal does is make the Giants look ridiculous. Granted, Zito’s ERA will get a boost from the National League and the Giants’ home ballpark. And this one isn’t as dumb as the Mike Hampton deal with the Rockies. But based on the facts at hand, this looks to me like one of the dumber free-agent signings ever. Zito just isn’t very good. And if he’s worth $18 million per season, Santana’s worth $25 million.

In looking at Zito’s 7 year career, when you get past his 3rd year, after 17-8 and 23-5 in the 2001 and 2002 seasons, he’s only a mediocre pitcher who struggled to stay above .500 with an ERA of near 4.00 each year. 

And all the while, Unit remains a Yankee while sounds continue to abound about his returning to the Arizona Diamondbacks.  But Johnson’s 43 years of age and Arizona’s debt structure may squelch this possibility.  The Yankees’ accountants also seem to be sharpening their pencils, or shall we say, peering into their plasma computer screens analysing Johnson’s “unit cost.”

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This entry was posted on Thursday, December 28th, 2006 at 7:41 pm and is filed under Real-Time Baseball News and Commentary, All Time Pitching Highlights, Off-Season Deals, Trades, Free Agency, Draft. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.