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Prior's Contract

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Prior's Contract

Postby Pogotheostrich » Wed Nov 19, 2003 12:06 pm

I just read this on CNNSI
Mark Prior received financial security when he signed a five-year, $10.5-million contract with the Cubs after they selected him with the second pick in the 2001 draft. The club typically gains cost certainty with those kinds of big deals for amateur players. The Cubs, however, did not. As it turns out, the right-hander obtained not only security in the deal but also flexibility, which could blow up on Chicago.

Prior's $10.5 million package has already grown to $12.3 million because of bonuses and automatic salary increases triggered by his selection to the All-Star Game and his third-place finish in Cy Young Award voting this year.

Prior's greatest loophole, however, is that he can opt out of his contract after next season and exercise his arbitration rights. That would seem to be a formality, considering that the 23-year-old would stand to earn much more than the $5 million total due him in 2004 and 2005 by means of his original contract. And that will put enormous pressure on the Cubs to get him signed to another long-term deal after next season. Maybe this time they'll actually buy out his arbitration rights.
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Postby Madison » Wed Nov 19, 2003 12:10 pm

Prior's agent did a good job on that one. The Cubs seem to have not been so lucky in that deal. There could be some serious money problems there.

Sorry DHC, but it looks like that helps the chances of Wood coming to Texas after the '04 season.
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Postby Grenade Teeth » Wed Nov 19, 2003 1:57 pm

Don't the Cubs have plenty of money, they just choose not to spend it?

I know they have a reputation as lovable losers, but after this year, I doubt the fan base will be receptive to losing players due to money issues now that they have a taste of winning...
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Postby wrveres » Wed Nov 19, 2003 5:22 pm

I love loopholes.....

I hope Kevin Towers saw that ..

Is it to late to start the chant ...
"Bring home Mark Prior" :-)
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Postby DieHardCubbie » Wed Nov 19, 2003 8:04 pm

Henrdy seen this coming...I am sure the Cubbies will have Prior (and Wood) signed long term before the end of next season.....I Hope.... :-o

Grenade Teeth wrote:Don't the Cubs have plenty of money, they just choose not to spend it?


The Cubs don't have the money...The Tribune does...and they have been the ones not wanting to spend it....but after this past season I look for the budget to go up some...... :-)

wrveres wrote:Is it to late to start the chant ...
"Bring home Mark Prior"


The Pads' had better work on getting the former Cubbie on their roster.....We aint letting another one get away..... !+)
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Postby wrveres » Wed Nov 19, 2003 8:10 pm

Yes but Greg is only short term, as in an educational value., more than anything, (and to peek into that binder of his) :-)

Mark, belongs pitching at home. With all the FA in '05 ... this could get very interesting. If what thier is a loophole in that contract. The Cubs are going to have problems keeping Sammy and paying, Mark, Kerry ... ... .. and Patterson.. 8-o
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Postby DieHardCubbie » Wed Nov 19, 2003 8:15 pm

wrveres wrote:The Cubs are going to have problems keeping Sammy and paying, Mark, Kerry ... ... .. and Patterson..


Bye Sammy...thanks for the fun...but gotta build for the future now...Happy trails....don't forget to write..... :-)
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Postby wrveres » Wed Nov 19, 2003 8:19 pm

DieHardCubbie wrote:
wrveres wrote:The Cubs are going to have problems keeping Sammy and paying, Mark, Kerry ... ... .. and Patterson..


Bye Sammy...thanks for the fun...but gotta build for the future now...Happy trails....don't forget to write..... :-)


LOL ..... 8-o
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Postby Madison » Wed Nov 19, 2003 8:23 pm

wrveres wrote:
DieHardCubbie wrote:
wrveres wrote:The Cubs are going to have problems keeping Sammy and paying, Mark, Kerry ... ... .. and Patterson..


Bye Sammy...thanks for the fun...but gotta build for the future now...Happy trails....don't forget to write..... :-)


LOL ..... 8-o


Lmao! :-D
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