Four More Years: Cano Signs $30M Deal
January 25th, 2008 11:58 AM
The Yankees, joining a growing trend in baseball, are on the verge of locking up Robinson Cano to a four-year, $30 million contract that will cover Cano’s remaining years of arbitration eligibility and extend two seasons into what would have been free agency years for the 25-year-old. The move is similar to what the Mets did when they locked up Jose Reyes (four years, $23.25 million) and David Wright (six years, $55 million) to long-term contracts, however the strategy is a departure from the philosophy the Yankees have utilized for years. Via the Daily News:
The Yankees have long believed it’s better to go year-to-year on contracts with their young players, figuring their outsized checkbook could always cover exploding costs if a player’s career took off faster than projected. Plus, they wouldn’t have guaranteed any cash if a player fizzled.
As we’ve written before, the changing economics of baseball have forced the Yankees to rethink a lot of what they’ve done in the past. It will be interesting to see …