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what does it mean for a contract to be optioned?

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Postby waltb87 » Sun Aug 06, 2006 4:06 pm

ok.....i know sheff has been playing for more than ten years...and on espn today....his contract was going to be optioned....what about of a case of a veteran.....has sheff been a yankee for three years?
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Postby Tavish » Sun Aug 06, 2006 6:13 pm

waltb87 wrote:ok.....i know sheff has been playing for more than ten years...and on espn today....his contract was going to be optioned....what about of a case of a veteran.....has sheff been a yankee for three years?


They might have been talking about the option year on his contract and whether or not the Yankees were going to exercise it.
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Postby Matthias » Sun Aug 06, 2006 7:16 pm

Tavish wrote:
waltb87 wrote:ok.....i know sheff has been playing for more than ten years...and on espn today....his contract was going to be optioned....what about of a case of a veteran.....has sheff been a yankee for three years?


They might have been talking about the option year on his contract and whether or not the Yankees were going to exercise it.


Yah. Contracts have what you'll here as player's option, club option, and buyout. For example, you may hear that a contract may have a $8MM player option, $12MM club option, and a $1MM buyout.

What that means is, in addition to the guaranteed years and salaries contained within the contract, the player can tell the club that they are extending the contract for one more year and are doing so at a $8MM salary. On the other side, the club can tell the player that they are extending the contract for one more year and will pay a salary of $12MM. And the last choice would be that the club would announce that they're not going to accept the player's option but are just going to give them $1MM to make them a free agent.

Not all contracts will have all of these and many might not have any options at all. But when you see stories like the below, you'll know what they're talking about.

http://query.nytimes.com/gst/fullpage.h ... A963958260
SPORTS PEOPLE: BASEBALL;Jays Don't Exercise Molitor

Published: November 2, 1995
The Toronto Blue Jays took the first step yesterday toward making PAUL MOLITOR a free agent, deciding to pay him a $1 million buyout rather than exercising the option in his contract for a $4 million salary next season. The Blue Jays could still offer the 39-year-old designated hitter salary arbitration by today's deadline, but are not expected to.

The Baltimore Orioles kept the left-handed reliever JESSE OROSCO by picking up the $500,000 option in his contract, but they did not exercise the $1.3 million option in the contract of another reliever, the right-hander DOUG JONES. The Milwaukee Brewers did not exercise the $2.5 million option in DARRYL HAMILTON's contract, and the outfielder was 1 of 26 players who filed for free agency yesterday. Catcher MIKE STANLEY was another who filed, the second Yankee to become a free agent. The Seattle Mariners kept reliever NORM CHARLTON from becoming a free agent by offering him salary arbitration.
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Postby waltb87 » Sun Aug 06, 2006 10:37 pm

oh i see what you mean with the options....thanks for the insights
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