Durango53
01-10-2005, 01:27 PM
Good Rox read on Money....
The Rockies are getting closer to financial flexibility.
Their only contract obligation past 2005 is with first baseman Todd Helton, who is signed through 2011 with an option for 2012.
The Rockies do owe some deferred money to Larry Walker and Mike Hampton and possibly Denny Neagle, but the bulk of that has been pre-funded, limiting the strains those payments will put on the team's annual payroll.
Obligations facing the Rockies beyond 2005:
--Todd Helton is signed through 2011 with an option for 2012. He has a guaranteed salary of $12.6 million in 2005, $11.6 million annually from 2006-2010, and $19.1 million in 2011. There is a $4.6 million buyout on a $23 million option for 2012. Helton can opt out of the final four guaranteed seasons (2008-11) if he notifies the Rockies before Nov. 15, 2006 of plans to become a free agent following the 2007 season.
--Larry Walker is now with St. Louis, but the Rockies will pick up $6.75 million of his $12.5 million salary in 2005. Walker does have $18 million coming from salary he deferred from 2001-03. The Rockies have already funded that, however, and so their annual payout of $1.7 million to Walker from 2006 through 2025 won't affect the team's cash flow.
--Mike Hampton is now with Atlanta. The Rockies do, however, have to pick up $2 million of Hampton's base salary in 2006 and 2007 and $2.5 million 2008. They also are obligated for a $6 million buyout on his contract, which will be paid in $1.5 million installments from 2009-2012. Hampton did have $19 million from his signing bonus deferred -- without interest until the end of his contract, at which time he will be owed three percent compounded interest.
The Rockies have funded that deferred money, however, and so it won't impact their annual budget when they write checks to Hampton for $1.9 million in 2009, $1.957 million in 2010, $2.015 million in 2011, $2.076 million in 2012, $2.138 million in 2013, $2.2 million in 2014, $2.27 million in 2015, $2.33 million in 2016, $2.4 million in 2017 and $2.48 million in 2018.
--Denny Neagle is a likely expenditure. The Rockies have terminated his contract, which had $19 million remaining on it, using the morals clause in the uniform contract. Neagle, however, has filed a grievance seeking the money. He has a $10 million salary for 2005 plus a $9 million buyout on a $13 million option for 2006. The buyout, however, is deferred over five years -- $1.8 million annually from 2006-2010 -- with three percent compound interest.
The Rockies are getting closer to financial flexibility.
Their only contract obligation past 2005 is with first baseman Todd Helton, who is signed through 2011 with an option for 2012.
The Rockies do owe some deferred money to Larry Walker and Mike Hampton and possibly Denny Neagle, but the bulk of that has been pre-funded, limiting the strains those payments will put on the team's annual payroll.
Obligations facing the Rockies beyond 2005:
--Todd Helton is signed through 2011 with an option for 2012. He has a guaranteed salary of $12.6 million in 2005, $11.6 million annually from 2006-2010, and $19.1 million in 2011. There is a $4.6 million buyout on a $23 million option for 2012. Helton can opt out of the final four guaranteed seasons (2008-11) if he notifies the Rockies before Nov. 15, 2006 of plans to become a free agent following the 2007 season.
--Larry Walker is now with St. Louis, but the Rockies will pick up $6.75 million of his $12.5 million salary in 2005. Walker does have $18 million coming from salary he deferred from 2001-03. The Rockies have already funded that, however, and so their annual payout of $1.7 million to Walker from 2006 through 2025 won't affect the team's cash flow.
--Mike Hampton is now with Atlanta. The Rockies do, however, have to pick up $2 million of Hampton's base salary in 2006 and 2007 and $2.5 million 2008. They also are obligated for a $6 million buyout on his contract, which will be paid in $1.5 million installments from 2009-2012. Hampton did have $19 million from his signing bonus deferred -- without interest until the end of his contract, at which time he will be owed three percent compounded interest.
The Rockies have funded that deferred money, however, and so it won't impact their annual budget when they write checks to Hampton for $1.9 million in 2009, $1.957 million in 2010, $2.015 million in 2011, $2.076 million in 2012, $2.138 million in 2013, $2.2 million in 2014, $2.27 million in 2015, $2.33 million in 2016, $2.4 million in 2017 and $2.48 million in 2018.
--Denny Neagle is a likely expenditure. The Rockies have terminated his contract, which had $19 million remaining on it, using the morals clause in the uniform contract. Neagle, however, has filed a grievance seeking the money. He has a $10 million salary for 2005 plus a $9 million buyout on a $13 million option for 2006. The buyout, however, is deferred over five years -- $1.8 million annually from 2006-2010 -- with three percent compound interest.