Gallardo extension coming today? -- Latest: 5-year, $30M extension

[pretendastronaut]

From Witrado;

 

We’re getting word that the Brewers are going to call a press conference this afternoon to announce … something.

 

The team hasn’t officially announced anything yet. At this point, I don’t think it has anything to do with Prince Fielder and we haven’t heard anything about a trade or big roster move like that.

 

If the announcement is something having to do with a contract extension, the likeliest player to get a deal done is right-hander Yovani Gallardo, who is eligible for arbitration after this season.

 

Link

 

Edit: It seems pretty random guess on Witrado's part, but I posted it because it's what we'll probably talk about all day with no baseball today!

[endaround]

It could easily be the unveiling of the Selig statue design as a contract extension (and I'd say the most likely contract extension would actually be Coffey at this point in time)

[JoeHova]

MLB trade rumors posted a link to a tweet from Haudricourt that says: "Brewers are believed to be closing in on contract

extension with RHP Yovani Gallardo." If true, it seems like good news, assuming the dollars aren't outrageous. Every pitcher is a risk to some extent but if a team is going to compete, it needs to have a couple good pitchers. It seems that a long-term deal to a pitcher is just a risk that a team has to take every once in awhile.

[jhart05]

I wouldn't believe anything Witrado said, even it was "it's raining", 'till I actually looked out the window myself.

[DHonks]

Can we front-load it, so that he makes more next year when Suppan and Hall are off the books rather than in 2012 or so when Fielder and Braun will be making plenty?

[jjfanec]

Sportscenter just announced that the Brewers were going to be announcing an extension with Gallardo

[hawing]

Per Adam McCalvy, the Brewers have scheduled a 3:00 PM CDT press conference. Adam seems to think it may be to announce a Gallardo deal.

[jjfanec]

What would be a good deal for Gallardo? I have no idea. I am looking for some insight hear from some of the people on this board.

[berniebrewer4life]

Excellent, this is a move many of us have been asking for, for a while now. I wonder if it will just buy out his Arby years, or some FA years as well?

[monty57]

Well, if this is true, it's great news. I know there's risk with signing anyone long term, but I like seeing our young superstars signed so they'll be here more than five or six years, and I hope this is a trend that will continue. Determine who your core players are and lock them up while they're still relatively cheap. Go year-to-year on the rest of them.

 

Of course, this could be a Prince Fielder-style two year deal to avoid arby, but that doesn't seem likely. I'd guess this season plus five, getting us through the arby years and buying out two years of free agency.

[BREWCREW5]

Anyone want to make any guesses about figures?

 

5 years/$40 Mil?

[sheethead]

A poster has laid out the alleged details of the contract extension in the link pretendastronaut provided. 5/$28M, $13M option. That poster at JSOnline has been right before.

[TheCrew07]

I would be very pleased if this turns out to be true, a pitching contract that I can actually get behind would be fantastic! I'm hoping we buy out at least 2 FA seasons to get back that lost 2008 season, and for some team option years as well on the back end of the deal ala the James Shields contract. Let him walk when he's 30-31 if he's still pitching effectively...

[Flood Pants]

Nice! After seeing last season's free agent market, it seems like the Brewers are taking advantage of their "buy-low" window. I guess we'll know for sure when we see the numbers.

 

This seems to be the way to go with pitchers, lock them up when they're young, and only go a year or two beyond free agency. Then let them walk. Guys like Barry Zito and Ben Sheets are great examples of such a strategy working extremely well for their team.

[Invader3K]

A poster has laid out the alleged details of the contract extension in the link pretendastronaut provided. 5/$28M, $13M option. That poster as JSOnline has been right before.

If those numbers are anywhere close to true, I think this is outstanding. Assuming Gallardo stays healthy, etc.

 

 

[BREWCREW5]

Here's the details of the deal:

2010 $500,000

2011 $3.25mil

2012 $5.5mil

2013 $7.75mil

2014 $11.25mil

2015 $13mil club option / $600,000 buyout

 

This was taken from the jsonline comments section and not from any inside information that I have.

[SoCal Brew Crew Fan]

Seems like a win/win deal if true. The Brewers risk is he gets hurt and the last years are almost "Suppan-esque". For Gallardo, if he pitches like he can and stays healthy the contract could be "Braun-esque". I'd rather take the risk on a young guy like Yo and the downside does seem manageable.

[BrewCrewForever]

Very excited for this. Will be good to have Yo locked up long term. Should be pretty cost effecient as well. Much like the Braun deal. Thanks Mark and Doug!

[monty57]

Really, the way Brewcrew5 laid it out seems fair, as Yo shouldn't expect too much more than that during the arby years, and the Brewers are probably saving a few million in the two free agent years. For taking the risk of injury on themselves, the Brewers deserve some price break. I like the idea of making the last year a team option year. I like this, and really hope this is true.

[homer]

If those numbers are correct then in 2014 the Brewers will be paying 21.25 million to Braun and Gallardo. If they resign Fielder that's probably another 15 million or so right? So 36.25 million to three players.

[trwi7]

If they sign Prince he'll be getting more than $15 million in 2014. That's three years after he would be a free agent. I would expect it to be around $20-22 million.

[endaround]

Which is what they are basically paying to three players this year (Suppan $14.5m, Wolf $9.25m and Fielder $10.5m)

[zzzmanwitz]

This is fantastic news. Not only is it great that we have Gallardo under contract, but it gives the Brewers a better idea on how much they can offer to Fielder. Financial certainty is a good thing to have.

 

Congrats to Yovanni, Doug, Gord, Mark A, and Brewer Fans everywhere.

[pretendastronaut]

TH is confirming it now;

 

I was just told that the Brewers will announce at a 3 p.m. news conference today that right-hander Yovani Gallardo is signing a five-year contract extension with an option for a sixth year.

 

The deal includes tearing up Gallardo's 2010 contract for $450,000 and replacing it, so the five years go through 2014 with an option for 2015. I have not heard the financial terms of the deal yet.

 

Gallardo's first free-agent year is 2014, so the Brewers are buying out all three arbitration years plus that first free agent year. I don't know if the option for 2015 is a club option, mutual option or a vesting option (based on earlier performance).

[TheCrew07]

Dang, I would have liked a second FA year bought out with an additional option year, but this is definitely a step in the right direction from my perspective.