Friday, November 25, 2005
Report: Braves rework Chipper's deal
11/18/2005
ATLANTA -- Chipper Jones has said twice in the past year that he would be willing to rework his contract if it could help the Braves keep or acquire top-caliber talent. It appears he's going to get the opportunity to commit that selfless act.
According to The Atlanta-Journal Constitution, Jones has agreed to a restructuring that will reduce his salary from $17 million to $11 million in 2006 and save the club as much as $15 million over the next three seasons.
While there is certainly a chance this act will be legally completed within the next week, the Braves are denying that any agreement has been reached.
The two parties have worked out the financial details of the restructured contract. But before it becomes official, Jones must first pass a physical exam for insurance purposes. That could occur within the next few days.
If the deal is officially completed, the Braves will have some extra money that could be used to help keep Rafael Furcal in Atlanta or assist in the acquisition of a proven top-notch closer like Trevor Hoffman. They are two of this winter's most attractive free agents.
According to the AJC report, Jones' new contract would erase the very attainable vesting options that would have garnered him a $15 million salary in the 2007 and 2008 seasons. Instead, he'll be guaranteed an $11 million salary for both of those seasons.
The report also states he'll receive a $4 million signing bonus in January and have a vesting option for 2009 that will be worth between $8-11 million. That salary would be based his on-field performance in 2008.
The current contract, which is expected to be restructured after the physical exam, has just one more guaranteed season. The options for 2007 and 2008 would have vested if he'd simply recorded just 450 plate appearances or been an All-Star the previous season. Despite missing more than six weeks with a foot injury in 2005, he registered 432 plate appearances.
If both of those options had vested, Jones, who will be 37 after the 2009 season, also would have received a $5 million bonus.
Jones first expressed his willingness to restructure his contract when it looked like the Braves might need some extra money to secure Tim Hudson's long-term services. But that proved unnecessary when they announced they had secured a deal that would keep the right-hander in Atlanta through 2009 and possibly 2010.
With the extra money Jones is providing, the Braves now may be able to compete with the lucrative offers the Cubs and possibly the Mets are expected to give Furcal. They at least can get close to those offers and quite possibly reap the benefits of a hometown discount.
Source: http://atlanta.braves.mlb.com/
ATLANTA -- Chipper Jones has said twice in the past year that he would be willing to rework his contract if it could help the Braves keep or acquire top-caliber talent. It appears he's going to get the opportunity to commit that selfless act.
According to The Atlanta-Journal Constitution, Jones has agreed to a restructuring that will reduce his salary from $17 million to $11 million in 2006 and save the club as much as $15 million over the next three seasons.
While there is certainly a chance this act will be legally completed within the next week, the Braves are denying that any agreement has been reached.
The two parties have worked out the financial details of the restructured contract. But before it becomes official, Jones must first pass a physical exam for insurance purposes. That could occur within the next few days.
If the deal is officially completed, the Braves will have some extra money that could be used to help keep Rafael Furcal in Atlanta or assist in the acquisition of a proven top-notch closer like Trevor Hoffman. They are two of this winter's most attractive free agents.
According to the AJC report, Jones' new contract would erase the very attainable vesting options that would have garnered him a $15 million salary in the 2007 and 2008 seasons. Instead, he'll be guaranteed an $11 million salary for both of those seasons.
The report also states he'll receive a $4 million signing bonus in January and have a vesting option for 2009 that will be worth between $8-11 million. That salary would be based his on-field performance in 2008.
The current contract, which is expected to be restructured after the physical exam, has just one more guaranteed season. The options for 2007 and 2008 would have vested if he'd simply recorded just 450 plate appearances or been an All-Star the previous season. Despite missing more than six weeks with a foot injury in 2005, he registered 432 plate appearances.
If both of those options had vested, Jones, who will be 37 after the 2009 season, also would have received a $5 million bonus.
Jones first expressed his willingness to restructure his contract when it looked like the Braves might need some extra money to secure Tim Hudson's long-term services. But that proved unnecessary when they announced they had secured a deal that would keep the right-hander in Atlanta through 2009 and possibly 2010.
With the extra money Jones is providing, the Braves now may be able to compete with the lucrative offers the Cubs and possibly the Mets are expected to give Furcal. They at least can get close to those offers and quite possibly reap the benefits of a hometown discount.
Source: http://atlanta.braves.mlb.com/
