12-19-2006, 05:10 AM
Now that's creative
TORONTO (Reuters) - Vernon Wells signed a seven-year $126 million contract extension with the Toronto Blue Jays on Monday, the sixth richest deal in major league baseball history
Wells, 28, does not have a deal with a standard contract structure. He will earn a salary of $500,000 in 2008 and $1.5 million in 2009 but he also gets a $25.5 million signing bonus payable in three installments on March 1 in 2008, 2009 and 2010. His salary climbs to $12.5 million in 2010.
He will earn $23 million in 2011 and the final three seasons will pay him $21 million annually, although he has an option to opt out of the deal after the fourth year. The contract is designed to give the Blue Jays room to maneuver with their payroll.
TORONTO (Reuters) - Vernon Wells signed a seven-year $126 million contract extension with the Toronto Blue Jays on Monday, the sixth richest deal in major league baseball history
Wells, 28, does not have a deal with a standard contract structure. He will earn a salary of $500,000 in 2008 and $1.5 million in 2009 but he also gets a $25.5 million signing bonus payable in three installments on March 1 in 2008, 2009 and 2010. His salary climbs to $12.5 million in 2010.
He will earn $23 million in 2011 and the final three seasons will pay him $21 million annually, although he has an option to opt out of the deal after the fourth year. The contract is designed to give the Blue Jays room to maneuver with their payroll.
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