Baseball Guru
02-19-2002, 02:41 PM
By Joe Strauss
Of the Post-Dispatch
02/19/2002 01:16 PM
JUPITER, Fla. -- Needing to compensate for a $7 million reduction in national broadcast revenues, the Cardinals have restructured the contracts of pitcher Darryl Kile and center fielder Jim Edmonds. The modifications bring the club within $4 million of its projected $70 million payroll.
Cardinals general manager Walt Jocketty approached both players shortly after signing free agent closer Jason Isringhausen and first baseman Tino
Martinez to deals worth a combined $48 million.
The club shed payroll with its subsequent trade of starting pitcher Dustin Hermanson to the Boston Red Sox but still found itself needing to make deeper cuts to reach a $70 million baseline.
``''There were two factors that led us to approach them. They're in a secure financial situation and both players are prepared to do whatever they can to improve the club,'' said Jocketty.
The modifications will move about $5 million of the players' salaries from this season to next. The club may then have greater flexibility given the conclusion of several hefty deals.
Both players received the club's request openly.
``''The players we added were the prototypes for what we wanted to replace and add to what we had. As far as restructuring goes, it's an easy decision if that's what's needed to make it happen,'' Kile said.
Kile originally signed a three-year, $23 million contract in October 2000 that included a $5 million signing bonus, $5 million last season and was scheduled to pay him $5.5 million in 2002 and $5.5 million in 2003. The club also holds a $9 million option for 2004 or may exercise a $2 million buyout.
Kile's option year could escalate to $9.5 million with a $2.5 million buyout if he pitches 430 innings combined this season and next, or if he finishes in the top 10 of balloting for Cy Young Award in 2003. The terms escalate to $10 million with a $3 million buyout if Kile is named an All-Star and places in the top five of Cy Young Award balloting next season.
Edmonds' original deal, signed in May 2000, was for $57 million over six seasons and included a $2 million signing bonus that could be paid over five years.
His base salary during the term of the contract was $6 million last season; $7 million this season; $8 million in 2003; $9 million in 2004; $10 million in 2005 and $12 million in 2006.
Terms called for $1 million to be deferred without interest each season. The Cardinals also hold an option that would pay Edmonds $10 million in 2007. A
$3 million buyout is attached. Edmonds' deal also includes a provision that stipulates he may demand a trade if the Cardinals' payroll does not rank among the game's top 15 on June 30, 2003.
Drew Returns:
Right fielder J.D. Drew returned to camp but did not participate in a voluntary workout one day after spraining his ankle while running in the outfield. Manager Tony La Russa is hopeful that Drew may resume most activities Thursday.
Monday's incident underscored a problem that has dogged Drew since he began his professional career. He first hurt the ankle while playing for St. Paul of the independent Northern League in 1997. The ankle landed him on the disabled list in 2000 and again experienced weakness last season.
Drew walked about camp Tuesday with the ankle taped. ``''It's happened so many times that the ankle's probably used to it,'' he quipped.
Excused Absences:
* Second baseman Fernando Vina and non-roster players Wilson Delgado and Luis Saturria were the only position players not to report as scheduled
Tuesday. Vina previously obtained permission to arrive today while Delgado and Saturria were also expected to arrive late.
* Pitcher Woody Williams was excused from today's workout to attend the funeral of former San Diego Padres teammate Mike Darr, who was killed in an
automobile accident last weekend.
* Darryl Kile threw from a mound for the second time in three days Tuesday. He is next scheduled to pitch batting practice Thursday.
Of the Post-Dispatch
02/19/2002 01:16 PM
JUPITER, Fla. -- Needing to compensate for a $7 million reduction in national broadcast revenues, the Cardinals have restructured the contracts of pitcher Darryl Kile and center fielder Jim Edmonds. The modifications bring the club within $4 million of its projected $70 million payroll.
Cardinals general manager Walt Jocketty approached both players shortly after signing free agent closer Jason Isringhausen and first baseman Tino
Martinez to deals worth a combined $48 million.
The club shed payroll with its subsequent trade of starting pitcher Dustin Hermanson to the Boston Red Sox but still found itself needing to make deeper cuts to reach a $70 million baseline.
``''There were two factors that led us to approach them. They're in a secure financial situation and both players are prepared to do whatever they can to improve the club,'' said Jocketty.
The modifications will move about $5 million of the players' salaries from this season to next. The club may then have greater flexibility given the conclusion of several hefty deals.
Both players received the club's request openly.
``''The players we added were the prototypes for what we wanted to replace and add to what we had. As far as restructuring goes, it's an easy decision if that's what's needed to make it happen,'' Kile said.
Kile originally signed a three-year, $23 million contract in October 2000 that included a $5 million signing bonus, $5 million last season and was scheduled to pay him $5.5 million in 2002 and $5.5 million in 2003. The club also holds a $9 million option for 2004 or may exercise a $2 million buyout.
Kile's option year could escalate to $9.5 million with a $2.5 million buyout if he pitches 430 innings combined this season and next, or if he finishes in the top 10 of balloting for Cy Young Award in 2003. The terms escalate to $10 million with a $3 million buyout if Kile is named an All-Star and places in the top five of Cy Young Award balloting next season.
Edmonds' original deal, signed in May 2000, was for $57 million over six seasons and included a $2 million signing bonus that could be paid over five years.
His base salary during the term of the contract was $6 million last season; $7 million this season; $8 million in 2003; $9 million in 2004; $10 million in 2005 and $12 million in 2006.
Terms called for $1 million to be deferred without interest each season. The Cardinals also hold an option that would pay Edmonds $10 million in 2007. A
$3 million buyout is attached. Edmonds' deal also includes a provision that stipulates he may demand a trade if the Cardinals' payroll does not rank among the game's top 15 on June 30, 2003.
Drew Returns:
Right fielder J.D. Drew returned to camp but did not participate in a voluntary workout one day after spraining his ankle while running in the outfield. Manager Tony La Russa is hopeful that Drew may resume most activities Thursday.
Monday's incident underscored a problem that has dogged Drew since he began his professional career. He first hurt the ankle while playing for St. Paul of the independent Northern League in 1997. The ankle landed him on the disabled list in 2000 and again experienced weakness last season.
Drew walked about camp Tuesday with the ankle taped. ``''It's happened so many times that the ankle's probably used to it,'' he quipped.
Excused Absences:
* Second baseman Fernando Vina and non-roster players Wilson Delgado and Luis Saturria were the only position players not to report as scheduled
Tuesday. Vina previously obtained permission to arrive today while Delgado and Saturria were also expected to arrive late.
* Pitcher Woody Williams was excused from today's workout to attend the funeral of former San Diego Padres teammate Mike Darr, who was killed in an
automobile accident last weekend.
* Darryl Kile threw from a mound for the second time in three days Tuesday. He is next scheduled to pitch batting practice Thursday.