Per Hal, Phillips and Reds agree on long term deal

[AmarilloRed]

Here are the specifics on the deal:

Phillips and the Reds today confirmed his new deal, which runs through 2011 and includes a club option for 2012. Phillips hit .288 with 30 home runs, 94 RBI and 32 steals in 2007.

The new contract includes a $750,000 signing bonus and salaries of $2.75 million this year, $4.75 million in 2009, $6.75 million in 2010 and $11 million in 2011. The Reds have a $12 million option for 2012 with a $1 million buyout, and if Phillips is traded, the option becomes mutual option.

http://news.enquirer.com/apps/pbcs.d...T04/302150042/

[BLEEDS]

SO, 3 years $15M - LOVE that, much better than the 3/20 people have quoted.

4th year at $11M. Maybe a TAD too much, but 4/26 hard to argue with.

5th year option for $12M. Love it. He'll be on the flip side of 30 by then, and we'll have to see if he is still worth the $$, if so, $12M might look like a ridiculous bargain.

PEACE

-BLEEDS

[mlbfan30]

He would be a FA in that 11M year. It's about fair market considering he's buying out for security. But if BP was a FA, he'd get at least 15M in that year

[AmarilloRed]

Here are some of the salary incentives that are built into the deal:

Base in 2009 increases by:
$250,000 for Gold Glove in 2008
$250,000 for Silver Slugger in 2008;
$250,000 if MVP (1st thru 5th) in 2008.
Base in 2010 increase by:
$250,000 for Gold Glove in 2009
$250,000 for Silver Slugger in 2009
$500,000 for MVP (1st thru 5th) in 2009.
Base in 2011 increases by:
$250,000 for Gold Glove in 2010
$250,000 for Silver Slugger in 2010
$750,000 for MVP (1st thru 5th) in 2010.
Base in 2012 increases by:
$250,000 for Gold Glove in 2010
$250,000 for Silver Slugger in 2011
$750,000 MVP (1st thru 5th) in 2011.
Plus:
$25,000 for All Star; $50,000 for LCS/MVP; $100,000 for WS/MVP.
Player will make annual donation to Reds Foundation.

[mlbfan30]

If Chase Utley wasn't in the league he'd be making about 2M more.

[bubbachunk]

Glad to see this finally got done before spring training.