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View Full Version : Toronto offers Wells a 7 year $126M extension



Reds Fanatic
12-13-2006, 05:59 PM
http://sports.espn.go.com/mlb/news/story?id=2696708


The Blue Jays apparently are serious about keeping budding superstar Vernon Wells in the fold.

Wells, who can become a free agent after next season, was offered a seven-year, $126 million extension by Toronto. No deal has been agreed to, however.

Wells, who will make $5.6 million next season, confirmed the offer in an interview with The Globe and Mail, but wouldn't confirm the amount.

"It's somewhere in there," Wells told the Globe on Tuesday. "But to be honest, other than that, I don't feel under any obligation to make any more comments about it."

General manager J.P. Ricciardi also confirmed to the newspaper that a contract had been offered.

Ricciardi told ESPN.com's Jerry Crasnick on Monday that the team was leaning toward keeping Wells, even if it can't reach agreement on an extension.

Wells, a two-time All-Star and three-time Gold Glove Award winner, hit .303 with 32 homers and 106 RBI last season. Even though next winter's free agent crop is exceedingly deep (Andruw Jones, Torii Hunter, Mike Cameron, Mark Kotsay and Aaron Rowand will also be on the market), Wells looks like a strong candidate to receive a nine-figure deal.


Ricciardi recently told USA Today that the Blue Jays will have to "explore" the possibility of trading Wells if they can't sign him to a long-term contract. He told the newspaper that he should have a better idea where things stand with Wells in early January.

"We're going to exhaust every possible way to sign the player," Ricciardi said Monday. "Ownership has been great to us, and if it gets to a point where we can't sign him, then we can't sign him. That's the reality of it. It's not that we don't want to."

When asked to give odds on the likelihood of Wells wearing a Toronto uniform in 2007, Ricciardi declined to make a prediction.

"I don't want to predict numbers," he said. "If you've been to the race track with me, you'd know I'm not too good."

Highlifeman21
12-13-2006, 06:35 PM
So much for them saying they wouldn't give him Beltran money....

Edd Roush
12-13-2006, 06:41 PM
Money paid to ballplayers is turning into Monopoly money.

Joseph
12-13-2006, 06:53 PM
The only excuse not to sign is if he doesn't want to be there.

Dom Heffner
12-13-2006, 06:56 PM
free agent crop is exceedingly deep (Andruw Jones, Torii Hunter, Mike Cameron, Mark Kotsay and Aaron Rowand will also be on the market),

If that's deep, I'd sign Wells.

redsandrails
12-13-2006, 09:28 PM
Well for just CF's that's a heckuva lot better than this year's crop with the likes of Matthews Jr., Pierre and Lofton heading the class... well I guess Edmonds too but he's declining himself. Hopefully contracts will not raise any more and drop a little next year since this year's market is overinflated.

Caveat Emperor
12-13-2006, 09:35 PM
If that's deep, I'd sign Wells.

Until he's 35?

The money being paid to these guys per-year I can deal with -- it's the length of the commitment at that dollar figure that is just staggering.

Conventional wisdom says you lock guys into a price in order to protect against inflating salaries -- but it's just playing with fire to say Wells will be worth the kind of money he'll make in 2012 at the age he'll be. Of course, by then, $17 million per year might well be league minimum...

letsgojunior
12-13-2006, 09:58 PM
Do owners never learn?

Blimpie
12-13-2006, 11:18 PM
The only excuse not to sign is if he doesn't want to be there.That...or that the Royals are offering him $ 145 million.

redsfan4445
12-14-2006, 12:00 AM
Can you imagine what Dunn will ask for in 2 years!!!!!:bang:

Chip R
12-14-2006, 12:26 AM
OK, if you are Vernon Wells, do you sign the extention now or do you bet that salaries will increase further after 2007 and become a free agent?

NDRed
12-14-2006, 12:49 AM
OK, if you are Vernon Wells, do you sign the extention now or do you bet that salaries will increase further after 2007 and become a free agent?


126 Million dollars guaranteed!

What are you holding out for? 20 million per year instead of 17 million per year.

You and your next several generations are set for life. As Joseph said if Wells doesn't sign its because he wants to leave or he is crazy.

beb30
12-14-2006, 10:07 AM
126 Million dollars guaranteed!

What are you holding out for? 20 million per year instead of 17 million per year.

You and your next several generations are set for life. As Joseph said if Wells doesn't sign its because he wants to leave or he is crazy.


If he doesn't sign and sign now he's stupid $126M offer on the table right now is to big to pass up. What happens if he gets seriously injured? There are too many risks out there to pass this offer up.

Unassisted
12-14-2006, 12:07 PM
My first thought was that this was David Wells from the thread title and the fact that Wells had been in TOR before. I'm still a bit shaken from thinking that a team would pay him that much to play into his 50s. :shocked:

klw
12-14-2006, 01:14 PM
If he doesn't sign and sign now he's stupid $126M offer on the table right now is to big to pass up. What happens if he gets seriously injured? There are too many risks out there to pass this offer up.


He should have a long talk with Nomar if he is considering doing anything other than driving straight to the Blue Jays office and signing this contract.

Reds Fanatic
12-15-2006, 11:05 PM
Wells agreed to the contract tonight. The 6th largest contract in baseball history.

http://sports.espn.go.com/mlb/news/story?id=2698288


Updated: Dec. 15, 2006, 10:56 PM ET
Wells on verge of a $126 million contract extensionESPN.com news services

TORONTO -- All-Star slugger Vernon Wells agreed on a seven-year, $126 million contract extension with the Toronto Blue Jays on Friday night. However, the deal still needs approval from the players union. Such an 'OK' could come as early as Saturday.

Wells' pact would give him a $25.5 million signing bonus, no-trade clause and guarantee him the right to opt out of his contract after four years, according to contract details obtained by ESPN's Peter Gammons.

Wells said Friday that while the deal is not yet finalized, he anticipates the contract will be wrapped up soon. The deal will start with the 2008 season.

If Vernon Wells accepts the Jays' offer, his pact would be the sixth richest in the history of the sport.

"How can you not be happy?" he said during a telephone interview with The Associated Press. "Like I said, my family comes first. Obviously this gives me an opportunity to set my family up for a couple of generations. That's the biggest part of this thing. And this gives me a chance to do something special in Toronto that hasn't been done in awhile."

The contract will trail only those of Alex Rodriguez ($252 million), Derek Jeter ($189 million), Manny Ramirez ($160 million), Todd Helton ($141.5 million) and Alfonso Soriano ($136 million).

Wells hit .303 with 32 homers and 106 RBI last season and is due $5.6 million next season. He would have been eligible for free agency after next season.

He thought about trying to play with hometown Texas Rangers.

"The ballpark is 20 minutes from my house. It's obviously a temptation, but [with] everything that I've gone through with Toronto and the relationships I've built there, it's tough to leave," Wells said.

General manager J.P. Ricciardi is working to finalize the deal.

"We've said all along we're going to make every effort to sign him," Ricciardi said.

The contract will be the largest in franchise history -- dwarfing the $68 million, four-year deal that Carlos Delgado got from Toronto in 2000.

Ricciardi inherited Delgado's contract when the team's payroll was around $50 million, but it will be more than $90 million next season. A stronger Canadian dollar and ownership of the Rogers Centre is allowing the team to spend more.

In the final month of the season, Rogers Communications chief executive officer Ted Rogers agreed that the team needed to increase its $72 million payroll to compete with New York and Boston in the AL East. The Blue Jays finished second in the division, trailing New York, which had an opening-day payroll of $198 million. Boston ($120 million) finished third.

Ricciardi said retaining Wells gives Toronto one of the best lineups in baseball.

"I know Gibby likes him in the third hole. We like our lineup. We think it's as good a lineup as there is in the American League," Ricciardi said.

The Blue Jays signed pitchers A.J. Burnett and B.J. Ryan to long-term contracts worth $102 million last year, but have been less active thus far this winter. After signing DH Frank Thomas to a two-year, guaranteed $18 million contract, general manager J.P. Ricciardi missed out in his efforts to sign pitchers Ted Lilly and Gil Meche.


Toronto could have traded Wells if it didn't get an extension.

While Toronto lost out on signing free agent pitchers Ted Lilly and Gil Meche, Ricciardi denied that those decisions freed up the money to sign Wells.

The Blue Jays didn't include Wells in advertisements this winter, leading many to speculate that they wouldn't re-sign him.

Wells, 28, said the contract doesn't necessarily mean he'll retire a Blue Jay. The contract is expected to include an opt-out clause.

"It all depends on where my career is," Wells said.