Delaying a chance to make even more money as a free agent, the right-hander agreed Monday to a $38 million, four-year contract that avoided a salary arbitration hearing.
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After earning $1,475,000 last season, Greinke asked for $4.4 million in arbitration when he exchanged proposed salaries with the Royals last week. The team offered $3.4 million. He gets $3.75 million this year, $7.25 million in 2010 and $13.5 million in each of the final two seasons of the deal.
Well, after a series of terrible moves, the Royals and GMDM finally make a great deal. Grienke was eligible for arbitration for this year and next year. This year, the arbitrator would most likely have awarded him close to 3.75 million. It is also likely that, if Grienke another good year, the arbitrator would have awarded him close to 7 million in 2010. So, under the contract, Grienke really does not get any additional money in 2009 or 2010. The contract means we get Grienke for two additional years without giving up a ton of money upfront.
In 2011 and 2012, we owe Grienke 13.5 million. Given that (1) Grienke was probably worth close to 10 or 11 million last year,(2) he is only 24, (3) he should only get better, and (4) the rate of inflation for baseball salaries continually rises, I don't think it is likely that, if we waited until 2011, we could have signed Grienke for anywhere close to 13.5 million. In other words, this is a great deal for the Royals.
I'm actually wondering why Grienke signed this deal.
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