Tracking Cubs 2007 Payroll

[HoopsCubs]

As we're getting close to the start of a wild off-season, I thought we could use this thread to continuously track and monitor the Cubs 2007 payroll as players are signed and/or traded. I'd request the moderators to give this "sticky" status, if appropriate:

 

As of November 1, 2006:

 

13.00M - Derrek Lee

5.33M - Jacque Jones

5.00M - Ryan Dempster

4.40M - Michael Barrett

4.15M - Cesar Izturis

4.00M - Bob Howry

3.50M - Scott Eyre

3.25M - Glendon Rusch

3.00M - buyout for Kerry Wood (I always include buyout payments in next year's payroll because they are typically paid out after November 1, and the baseball payroll calendar is November 1 to October 31).

 

Total: 8 players under contract and $45.63M

 

 

Hoops

Edited November 1, 2006 by HoopsCubs

[wade]

This is a great idea.

 

Please make the most of the cash Mr. Hendry.

[Mark Priors Calves]

I hope Rusch retires and the Cubs can recoup that albatross of a salary.

[Mizzou]

Wood's buyout isn't going to be counted against next year's payroll though, is it? I thought I heard that it wasn't done that way.

[Transmogrified Tiger]

I think Eyre is going to be at 4.13 million. He's getting 2.7/3.5 with an option for '08. Considering that he got 333k of his 1M signing bonus in '06(3.033M total), and that normally they don't pro-rate signing bonus over option years, I think he'll get the last 666k this coming year in addition to his 3.5 mil.

 

Jones made 4.033M this year(3M base), but how the 2.966M remaining of the signing bonus is distributed over '07-'08 is beyond me.

 

Also, I think Howry should be at 4.5 mil this year. He got a 2.5/4/4 deal with a 1.5M signing bonus. He got 3M this past year, so I think he's getting that signing bonus distributed evenly, putting him at 4.5M for the next two years.

 

Izturis signed a contract for 2.15/3.2/4.15 with a .3M signing bonus. USA Today says that he's gotten 100k of it each of the last two years, so I figure he'll be at 4.25M this year before his team option.

 

According to USA Today Dempster's 1M signing bonus is evenly distributed over his 3 years, so he should be at 5.33M this year and 5.85M next year.

 

Assuming Barrett will make 12M total on his 3 year deal, he should have 4.533M left, but who knows for sure.

 

I don't know exactly how Hoops was handling the signing bonuses, but that's how I got to those numbers using Cot's and USA Today's figures.

[HoopsCubs]

I think Eyre is going to be at 4.13 million. He's getting 2.7/3.5 with an option for '08. Considering that he got 333k of his 1M signing bonus in '06(3.033M total), and that normally they don't pro-rate signing bonus over option years, I think he'll get the last 666k this coming year in addition to his 3.5 mil.

 

Jones made 4.033M this year(3M base), but how the 2.966M remaining of the signing bonus is distributed over '07-'08 is beyond me.

 

Also, I think Howry should be at 4.5 mil this year. He got a 2.5/4/4 deal with a 1.5M signing bonus. He got 3M this past year, so I think he's getting that signing bonus distributed evenly, putting him at 4.5M for the next two years.

 

Izturis signed a contract for 2.15/3.2/4.15 with a .3M signing bonus. USA Today says that he's gotten 100k of it each of the last two years, so I figure he'll be at 4.25M this year before his team option.

 

According to USA Today Dempster's 1M signing bonus is evenly distributed over his 3 years, so he should be at 5.33M this year and 5.85M next year.

 

Assuming Barrett will make 12M total on his 3 year deal, he should have 4.533M left, but who knows for sure.

 

I don't know exactly how Hoops was handling the signing bonuses, but that's how I got to those numbers using Cot's and USA Today's figures.

 

Back when I was writing in the Cubs.com message board days, I used to divide the signing bonus equally across the guaranteed years of a deal.

 

But since I joined Tim's website (and around the time I spoke to a source, who is somewhat knowledgable about these things), I made it a practice to just add the signing bonus to the first year salary except in the case where the signing bonus is clearly stipulated by contract to be paid in installments. For example, when Wood and Jones signed their deals, it was clearly written that the signing bonus would be paid in annual installments, so I took that into account in the salary analysis. On the other hand, when Eyre and Howry signed, nothing was stipulated about the payment of bonus, so I took the whole sum and added it to year 1's salary.

[10man]

That's rather interesting how signing bonuses are applied in baseball. I believe in the NFL that signing bonuses are in equal installments over the guaranteed years.

[Laura]

I'm not a payroll guru, so help me understand:

 

 

Z isn't included because he's arbitration eligible?

Prior isn't included for the same reason?

Aramis and Pierre because they are free agents?

 

Murton because ... he doesn't have an MLB contract?

Add all the other newbies: Cedeno, Marshall, Marmol, etc?

[HoopsCubs]

I'm not a payroll guru, so help me understand:

 

 

Z isn't included because he's arbitration eligible?

Prior isn't included for the same reason?

Aramis and Pierre because they are free agents?

 

Murton because ... he doesn't have an MLB contract?

Add all the other newbies: Cedeno, Marshall, Marmol, etc?

 

Correct on all counts. I thought I'd start with just guaranteed contracts. We can add a player and his money when it becomes definitive. Don't worry too much about the Murtons, Cedenos, Marshalls, Hills, etc... Even if the Cubs had 10 of them on the roster, we're talking $4M max. total, since they are all pre-arbitration eligible. I have made estimates on the 3 arbitration eligible Cubs: Zambrano, Prior and Ohman, so I can include them if you want.

[sethuel1]

I'm not a payroll guru, so help me understand:

 

 

Z isn't included because he's arbitration eligible?

Prior isn't included for the same reason?

Aramis and Pierre because they are free agents?

 

Murton because ... he doesn't have an MLB contract?

Add all the other newbies: Cedeno, Marshall, Marmol, etc?

 

Correct on all counts. I thought I'd start with just guaranteed contracts. We can add a player and his money when it becomes definitive. Don't worry too much about the Murtons, Cedenos, Marshalls, Hills, etc... Even if the Cubs had 10 of them on the roster, we're talking $4M max. total, since they are all pre-arbitration eligible. I have made estimates on the 3 arbitration eligible Cubs: Zambrano, Prior and Ohman, so I can include them if you want.

 

I would like to hear your estimates for these 3 players.

[JeffH]

I'm not Hoops, but I have Z, P, and O at $10, $4, and $1, respectively.

[HoopsCubs]

I'm not Hoops, but I have Z, P, and O at $10, $4, and $1, respectively.

 

Jeff,

I agree with you on Z and O. I had Prior a little higher at a generous $5M.

 

Hoops

[HoopsCubs]

As we're getting close to the start of a wild off-season, I thought we could use this thread to continuously track and monitor the Cubs 2007 payroll as players are signed and/or traded. I'd request the moderators to give this "sticky" status, if appropriate:

 

As of November 1, 2006:

 

13.00M - Derrek Lee

5.33M - Jacque Jones

5.00M - Ryan Dempster

4.40M - Michael Barrett

4.15M - Cesar Izturis

4.00M - Bob Howry

3.50M - Scott Eyre

3.25M - Glendon Rusch

3.00M - buyout for Kerry Wood (I always include buyout payments in next year's payroll because they are typically paid out after November 1, and the baseball payroll calendar is November 1 to October 31).

 

Total: 8 players under contract and $45.63M

 

 

Hoops

 

 

After doing some further investgating on the buyout subject, I think you guys are right: Wood's buyout should be added to the 2006 payroll, and not the 2007 payroll as I had done. I became convinced after reading this item in the Toronto Sun regarding Benjie Molina's buyout:

 

"Bengie Molina filed for free agency Tuesday, about two weeks after the Toronto Blue Jays declined a US$7.5 million option on the catcher for 2007. Molina received a $500,000 buyout instead, bringing his salary to $5 million in 2006, when he batted .284 with 19 homers and 57 RBIs in 117 games."

 

 

Thanks for setting me straight guys.

Hoops

[LeftCoastCubFan]

My take on things is that you never include the buyout in the next year’s payroll whether talking opening day salaries or accounting, so Kerry Wood’s buyout shouldn’t be included.

 

This is how I see players under contract

 

5.3 – Dempster (5 base plus .333 signing bonus to be paid)

3.8 – Eyre (3.5 base + .333 signing bonus to be paid)

4.5 – Howry (4 base + .500 signing bonus to be paid)

3.3- Rusch

4.5 – Barret (12.0 – 4.333 in 2006 – 3.133 in 2005)

13.0 - Lee

4.3 – Izturus (4.15 base + .100 signing bonus to be paid)

5.3 – Jones (4.0 base + 1.333 signing bonus to be paid)

 

8 players, at 44 mil

 

Given the amounts involved, you really need to include our expensive arbitration eligible players who aren’t going anywhere.

 

11.0 – Zambrano (my guess given salary inflation)

3.7 - Prior (Cubs unlikely to go for 10% cut, and will likely offer same as last year)

 

2 players, at 14.7 mil

 

So the big commitments barring trades is 10 players, 58.7 mil

 

The rest of the young players are likely to be close to major league minimum, with only Murton having a chance to barely crack the 500k mark. But none are a sure thing to stick yet.

 

I assume the purpose of this thread is to see how much more we can spend. Not having an official number, I would go with a range of 100 mil to 115 mil. If so that give us between 41.3 mil to 56.3 mil depending on where the budget is actually set.

[LeftCoastCubFan]

11.0 – Zambrano (my guess given salary inflation)

3.7 - Prior (Cubs unlikely to go for 10% cut, and will likely offer same as last year)

1.5 - Miller

 

5.3 – Dempster (5 base plus .333 signing bonus to be paid)

3.8 – Eyre (3.5 base + .333 signing bonus to be paid)

4.5 – Howry (4 base + .500 signing bonus to be paid)

3.3- Rusch

 

4.5 – Barret (12.0 – 4.333 in 2006 – 3.133 in 2005)

 

13.0 - Lee

4.3 – Izturus (4.15 base + .100 signing bonus to be paid)

 

5.3 – Jones (4.0 base + 1.333 signing bonus to be paid)

 

 

11 players, 60.2 mil

[questionmarkgrace]

11.0 – Zambrano (my guess given salary inflation)

3.7 - Prior (Cubs unlikely to go for 10% cut, and will likely offer same as last year)

1.5 - Miller

 

5.3 – Dempster (5 base plus .333 signing bonus to be paid)

3.8 – Eyre (3.5 base + .333 signing bonus to be paid)

4.5 – Howry (4 base + .500 signing bonus to be paid)

3.3- Rusch

 

4.5 – Barret (12.0 – 4.333 in 2006 – 3.133 in 2005)

 

13.0 - Lee

4.3 – Izturus (4.15 base + .100 signing bonus to be paid)

 

5.3 – Jones (4.0 base + 1.333 signing bonus to be paid)

 

 

11 players, 60.2 mil

 

Every major newspaper has said that our pay roll will be right around 120 million for next year. So let take a look at what could transpire with that amount of money.

 

Add in hill, wuertz, murton, theriot, and other young players it would be safe to say that we are under 70 million right? So that leaves 50 mil. We could probably have had ramirez at 15mil for 6 years with the hometown discount. That leaves 35 mil. And maybe zito for the same at 15 for 5. that leaves 20. One of ted lilly, randy wolf or gil meche for 10 million for 4-5 years (depending on who) and that leaves 10 mil. Gary mathews, 9 million for three years. 1 million left and the possibility to make a trade which may or may not push the team slightly over budget. So what is the problem is my math incorrect? We could have ramirez, zito, another starting pitcher and mathews jr. Thats a pretty good upgrade from last year especially if a trade goes down. At the very least we would be competitive in our division. Thats why I don't understand why hendry is being so frugal with the dough. Bad teams have to over pay and right now we are a really bad team. It doesn't make sense, unless our payroll is going to the be same as last year.

[Jazz]

New updated payroll

 

Miller - 1.5M

Wood - 1.75M

Dempster - 5.3M

Eyre - 3.8M

Howry - 4.5M

Rusch - 3.3M

 

Lee - 13M

Izturis - 4.3M

Ramirez - 14.6M

Barrett - 4.5M

Jones - 5.3M

 

if you add in arbitration eligible estimates:

 

Zambrano - 10M (hopefully with an extension)

Prior - 4M

Ohman - 1M

 

and player's without a contract that have less than 3 years of MLB experience

likely to be kept on the 25 man

 

Murton - 350k

Hill - 350k

Theriot - 350k

Wuertz - 350k

Guzman - 350k

Cedeno - 350k

 

totals to rougly 79 Million. If the 110-115 payroll estimate is right, we have around 36-41 million to play with for 5 players.

[LeftCoastCubFan]

Ramirez - 14.6M

Once the contract details come out it's likely to drop his 2007 price a million or two

[WrigleyField 22]

Ramirez - 14.6M

Once the contract details come out it's likely to drop his 2007 price a million or two

 

It could also be slightly frontloaded.

[Neuby]

Rusch's 3.3 million would go a ways toward helping in the grabs building a good bench.

[ChiCubsFan]

New updated payroll

 

Miller - 1.5M

Wood - 1.75M

Dempster - 5.3M

Eyre - 3.8M

Howry - 4.5M

Rusch - 3.3M

 

Lee - 13M

Izturis - 4.3M

Ramirez - 14.6M

Barrett - 4.5M

Jones - 5.3M

 

if you add in arbitration eligible estimates:

 

Zambrano - 10M (hopefully with an extension)

Prior - 4M

Ohman - 1M

 

and player's without a contract that have less than 3 years of MLB experience

likely to be kept on the 25 man

 

Murton - 350k

Hill - 350k

Theriot - 350k

Wuertz - 350k

Guzman - 350k

Cedeno - 350k

 

totals to rougly 79 Million. If the 110-115 payroll estimate is right, we have around 36-41 million to play with for 5 players.

 

Don't you mean 31-36 mil? 110 minus 79 is 31 and 115 minus 79 is 36.

 

Man, if we could find someone to take our dead weight (Dempster, Izturis, Jones, Rusch retire, maybe Eyre) we'd have a ton of money to spend.

[CuseCubFan69]

New updated payroll

 

Miller - 1.5M

Wood - 1.75M

Dempster - 5.3M

Eyre - 3.8M

Howry - 4.5M

Rusch - 3.3M

 

Lee - 13M

Izturis - 4.3M

Ramirez - 14.6M

Barrett - 4.5M

Jones - 5.3M

 

if you add in arbitration eligible estimates:

 

Zambrano - 10M (hopefully with an extension)

Prior - 4M

Ohman - 1M

 

and player's without a contract that have less than 3 years of MLB experience

likely to be kept on the 25 man

 

Murton - 350k

Hill - 350k

Theriot - 350k

Wuertz - 350k

Guzman - 350k

Cedeno - 350k

 

totals to rougly 79 Million. If the 110-115 payroll estimate is right, we have around 36-41 million to play with for 5 players.

 

Don't you mean 31-36 mil? 110 minus 79 is 31 and 115 minus 79 is 36.

 

Man, if we could find someone to take our dead weight (Dempster, Izturis, Jones, Rusch retire, maybe Eyre) we'd have a ton of money to spend.

 

I wonder if Rusch's contract might be a writeoff due to his illness?

[Laura]

Someone mentioned this in one of the threads below.

 

Phil Rogers[/url]"]DeRosa, a 31-year-old who hadn't driven in more than 31 runs before last season, was given a contract that will pay him more in 2009 ($5.5 million) than Mark Grace received in any of his 12 seasons in Chicago.

 

That's the only details I've heard on the contract breakdown. I'd guess that it steps up each year ... but absent that info, splitting it equally for the first two years would make it $3.75M / $3.75M / $5.5M.

 

Also, Blanco's contract contains a mutual option for 2009.

 

Rotoworld: Blanco gets a $750,000 signing bonus, $1.4 mil this year and $2.8 mil next year and is guaranteed $5.25 million. The third year is a mutual option for $3 million with a $300,000 buyout and could become guaranteed if he reaches certain performance levels which would also escalate the option year up to $4.5 million.

Edited November 19, 2006 by Laura

[TruffleShuffle]

Phil Rogers[/url]"]DeRosa, a 31-year-old who hadn't driven in more than 31 runs before last season, was given a contract that will pay him more in 2009 ($5.5 million) than Mark Grace received in any of his 12 seasons in Chicago.

 

Hey Phil - welcome to baseball in 2006. Rafael Furcal is making twice what Cal Ripken made in any season. Edgar Renteria and Orlando Cabrera's contracts easily surpass Ripken as well.

[wade]

New updated payroll

 

Miller - 1.5M

Wood - 1.75M

Dempster - 5.3M

Eyre - 3.8M

Howry - 4.5M

Rusch - 3.3M

 

Lee - 13M

Izturis - 4.3M

Ramirez - 14.6M

Barrett - 4.5M

Jones - 5.3M

 

if you add in arbitration eligible estimates:

 

Zambrano - 10M (hopefully with an extension)

Prior - 4M

Ohman - 1M

 

and player's without a contract that have less than 3 years of MLB experience

likely to be kept on the 25 man

 

Murton - 350k

Hill - 350k

Theriot - 350k

Wuertz - 350k

Guzman - 350k

Cedeno - 350k

 

totals to rougly 79 Million. If the 110-115 payroll estimate is right, we have around 36-41 million to play with for 5 players.

 

Don't you mean 31-36 mil? 110 minus 79 is 31 and 115 minus 79 is 36.

 

Man, if we could find someone to take our dead weight (Dempster, Izturis, Jones, Rusch retire, maybe Eyre) we'd have a ton of money to spend.

 

I wonder if Rusch's contract might be a writeoff due to his illness?

 

"It's a write-off for them."

"How is it a write-off?"

"They just write it off."

"Write it off what?"

"Jerry, all these big companies, they write off everything."

"You don't even know what a write-off is."

"Do you?"

"No, I don't."

"But they do. And they're the ones writing it off."