Phillies sign Howard to 5-year, $125 million extension
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Phillies sign Howard to 5-year, $125 million extension
Matt Gelb, Inquirer Staff Writer
SAN FRANCISCO -- The Phillies have locked up their slugging first baseman with the richest deal in franchise history.
Ryan Howard has signed a five-year, $125 million contract extension, the team announced Monday. There is a club option for a sixth year, meaning the deal could reach $138 million in total value if the option is exercised.
Howard would have been a free agent after the 2011 season.
When the deal kicks in, Howard, 30, will become the highest paid player in franchise history. Roy Halladay's deal pays him $20 million per season as a Phillie. The average annual salary of Howard's deal is larger.
Currently, the only player with a higher average annual salary than Howard's in 2012 and beyond is New York Yankees third baseman Alex Rodriguez.
The contract breaks down like this:
2012: $20 million
2013: $20 million
2014: $25 million
2015: $25 million
2016: $25 million
2017: $23 million club option with $10 million buyout
The deal also included a limited no-trade clause and awards bonuses.
In 2016, the final guaranteed year of the deal, Howard will be 36 years old.
Howard is making $19 million in 2010. He is due to make $20 million in 2011. So Howard will not see a raise in his salary in the first two years of the extension, which has to be considered a coup for the Phillies. If Howard would have gone on the open market after the 2011 season, he assuredly would have had an instant raise in 2012.
The $125 million contract extension is the 14th largest contract ever signed in baseball history. When the deal kicks in, Howard would be the highest paid first baseman in the majors based on average annual salary. Of course, by 2012, that could very well change considering Albert Pujols, Prince Fielder and Adrian Gonzalez are all due new contracts.
Obviously, the Phillies have put their eggs in one very large basket. What does this mean for impending free agent Jayson Werth? Hard to say. The Phillies' chances of re-signing Werth after this season were already slim. If Werth wants a five- or six-year deal similar to those given to Jason Bay and Matt Holliday this past off-season, the Phillies could decide they already have too much invested.
As it stands, with Howard's $20 million added to the equation, the Phillies have $84.45 million committed to seven players in 2012. (That includes a $1.5 million buyout on Brad Lidge's contract.)
But consider this: One of the Phillies' buzz words in the off-season was "cost certainty." The Phillies locked up players like Shane Victorino, Joe Blanton and Carlos Ruiz to three-year deals. Because Howard won't see a raise in his salary until 2014, the Phillies remain somewhat flexible in their payroll. Enough to sign Werth? It will be challenging.
The last time the Phillies invested this much in a first baseman, they signed Jim Thome to a six-year, $85 million contract. Thome was 32 when he signed his deal.
Howard's last contract he signed with the Phillies before the 2009 season was for three years, $54 million
Howard, a fifth-round pick in 2001, is hitting .275 with three home runs and 16 RBIs this season. Since becoming an everyday player on July 1, 2005, Howard leads all major league players in home runs (222) and RBI (650).
He is fifth on the Phillies' all-time home run list.
Howard, general manager Ruben Amaro Jr. and manager Charlie Manuel will meet with reporters at 7:30 p.m. (East Coast time) before Monday night's game at AT&T Park.
Much, much more to come...
imageshaper... did you read the article? It says he is not making any extra money until year 3. That's a bargain for the Phillies.— bobf876- good job now trade him for pitching you dont win without pitching in the playoffs , yes howard is a great player but get a power hitting first basemen and a stud pitcher + prospects from the red sox there loaded with top pitching prospects— flyers117
- Is there a NO TRADE clause?? Because if the Red Sox keep playing the way they are, they'll take Howard for Lackey and Papelbon. If we signed him to trade him....good. If not, then what are we paying for?? Really!— Paperchase
Comment removed.- celtic_13: let it go, dude. the lee thing was not about the money.— mbphilly
- i'm excited about this. lets hope phillies can keep our core for years to come while developing the next generation in the minors.— jayfril
- wait a minute!! I thought they were going to trade him for Pujols?!?!— erbower
- Ryan Howard is a great home run hitter, and pretty good all-around player. I think in order to be worth this contract, he ought to be one of the two best players in baseball. In my opinion, he is the third best player on the Phillies. Obviously there is room to disagree, but this contract strikes me as too high. Investing in a pitcher and a less marquee player may have been wiser. I hope I am wrong, and Howard continues to excel for years. This length of contract just seems awfully risky!— climbman
- Talk about a commitment to winning! Look, if they have to increase ticket prices by 10% in order to pay for this and other signings like it, so be it--as a season ticket holder, I'm happy to pay a bit more to keep a winning team on the field. It's nice that the ownership team gets it! Further, better to spend $125 million for 5 years on a proven star in Ryan Howard in 2010 than $126 million for 7 years of the "up and coming" Vernon Wells in 2006, like the Blue Jays did....— steveinphilly
- This was a great signing byt the Phils. Pretty muhc means that Ryan Howard, when all is said and done will be the new HR king of Philly.— ESFjellin
- There goes my idea of converting failing AAA lefty pitcher Joe Savery to a first baseman to get ready to take over when Howard walks.— Dull
- If any ball player in any sport is worth that kind of money, certainly Howard is. Congrats to him!!— Hatboro Mike
- Love it. There's no way he doesn't get $200,000,000 from the Yankees, Red Sox, Mets, or maybe even the Cubs, Dodgers or Mariners after 2011 if he keeps his current numbers up. If the economy even remotely improves or if Ryan continues to progress, his market value would be enormous (yes, even more than A-Gone and fat Fielder). Love the deal a lot. $22.5 mill per year until 2017 is completely acceptable. The Phillies are a cash cow right now; mine as well spend it.— LazarWolf
- I'm thinking that the main reasson for the deal is this: The last two off-seasons the man has worked his tail off(almost literally...he used to have a much larger caboose!)losing weight, adding muscle and CERTAINLY flexibility. He has also been dogged in his determination to increase his defensive capabilities. I know that right now, there is only ONE other first baseman in the game today that is BETTER than Ryan on any kind of ground ball in his area...or NEAR it. He still works on his throws, and the bad ones went down dramatically last year. Bless his li'l heart!— TBear
- does this mean nobody else gets a contract? 25m is too much,oer yr. poor Utley,Werth,and the rest,prediction,Phillies to be sold in2016.— frank martino
