Sox sign Gavin Floyd to 4-year, $15.5 million extension

[cubswin2009]

http://blogs.chicagosports.chicagotribune.com/sports_hardball/2009/03/white-sox-sign-floyd-to-four-year-15-million-dollar-extension.html

PHOENIX - The White Sox signed 17-game winner Gavin Floyd to a four-year, $15.5 million contract Sunday.

 

Floyd will earn $750,000 in 2009, $2.75 million in 2010, $5 million in 2011 and $7 million in 2012. The Sox hold a $9.5 million option for 2013.

 

The deal gives Floyd, 26, security while the Sox buy out Floyd's salary arbitration years. General manager Ken Williams said the Sox made overtures to pitcher John Danks and outfielder Carlos Quentin but were informed they weren't interested.

 

The Sox retain the rights to Danks and Quentin through at least 2012.

 

The Sox also dealt catcher Chris Stewart to the New York Yankees for future considerations. This essentially gives Corky Miller the backup catching duties.

[Soul]

So Floyd agrees to be paid spit, AND he gives the Sox the option year at the end?

 

Wow.

 

Of course Quentin and Danks weren't interested. That's crazy cheap, especially in the early going.

[Transmogrified Tiger]

That's fair value for Floyd, the only free agent year of his that's bought out is the option year, and 9.5 million is good money for that one year.

[jersey cubs fan]

That's fair value for Floyd, the only free agent year of his that's bought out is the option year, and 9.5 million is good money for that one year.

 

$9.5 million is not a lot of money for a free agent year option. It makes sense for the guy to sign a deal that allows him to be set for life. But he's leaving a lot of money on the table by agreeing with this.

[CubColtPacer]

That's fair value for Floyd, the only free agent year of his that's bought out is the option year, and 9.5 million is good money for that one year.

 

$9.5 million is not a lot of money for a free agent year option. It makes sense for the guy to sign a deal that allows him to be set for life. But he's leaving a lot of money on the table by agreeing with this.

 

It's not just injury concerns for Floyd that is the problem though. He's still a big question mark as an effective pitcher. He struggled in AAA until his 3rd significant time there (4th overall time there). His ERA+ last year was good, but his peripherals were pretty lousy. He could just as easily flame out as continue to progress.

 

This deal is pretty much exactly what the Twins gave Scott Baker and Baker has been better than Floyd. Floyd would have to break out in a major way to be leaving a lot of money on the table. At this point, he's maybe sacrificing 5-7 million in a very good scenario for him in order to pocket 15 million guaranteed. That's a great deal for him and he should be very happy the WS offered it.

[PackLandVA]

A bird in the hand is worth two in the bush!

 

He may be leaving some money on the table if he's effective for 4 years. But $15 million guaranteed is not too shabby. And prior to this contract, he's an injury away from squat.

 

It's a good move for the player and team.

[17 Seconds]

i still question how good floyd is so this is a good insurance move.

[Soul]

I still don't think that deal is very good for Floyd, who I still think has more potential to explore.

 

Obviously kudos to the WS; very good signing for them.

[TruffleShuffle]

good luck keeping an era under 4 with 30 home runs and 70 walks allowed. his era should've been close to 5 last year, not below 4. he sure looks like a #4/5 guy than the front of the rotation guy that everyone thought he'd be.

[17 Seconds]

good luck keeping an era under 4 with 30 home runs and 70 walks allowed. his era should've been close to 5 last year, not below 4. he sure looks like a #4/5 guy than the front of the rotation guy that everyone thought he'd be.

 

it probably shouldn't have been under 4, but close to 5 would be really high with a 1.26 whip

[Transmogrified Tiger]

Walking 3 guys per 9 innings is hardly troublesome.

 

The HR are a problem, but there's plenty of guys who can be worth that contract with a poor HR rate, Ted Lilly springs to mind.

[TruffleShuffle]

good luck keeping an era under 4 with 30 home runs and 70 walks allowed. his era should've been close to 5 last year, not below 4. he sure looks like a #4/5 guy than the front of the rotation guy that everyone thought he'd be.

 

it probably shouldn't have been under 4, but close to 5 would be really high with a 1.26 whip

 

he wouldn't have had a 1.26 whip if his babip wasn't .259.

[TruffleShuffle]

Walking 3 guys per 9 innings is hardly troublesome.

 

The HR are a problem, but there's plenty of guys who can be worth that contract with a poor HR rate, Ted Lilly springs to mind.

 

oh i'm not saying that he's not worth the contract; Lord knows that $4M per year for a league-average innings eater is a bargain.

 

lilly has struck out almost 8 guys per 9 innings the last 3 years. floyd has struck out just over 6 per 9. that's a pretty significant difference and once floyd's performance on balls in play goes back to normal, and some of those fly balls start going over the fence when runners are on base, his ERA will go back to 4.5-5.0 which is where it "should" be. he already gave up 19 unearned runs last year so his RA was 4.67, and that's with an unsustainable BABIP, so it's not hard to see how he'll regress.