Atlanta Braves third baseman Chipper Jones agrees to restructure his contract, reducing his salary by $6 million next season. The new deal could save the Braves about $15 million over three seasons and free up money for free agents.
With the Houston Astros offering $13.5 million, Roger Clemens asks for $22 million in salary arbitration. The amount, which would make Clemens the highest-paid pitcher in major league history, surpasses the previous record amount submitted for arbitration of $18.5 million by New York Yankees shortstop Derek Jeter in 2001.
2003 – Seven months before a November deadline, the Boston Red Sox exercise their 2004 contract option on Pedro Martinez, making him the highest-paid pitcher for a season in major league history. A three-time Cy Young Award winner, Martinez will earn $17.5 million next season.
Avoiding arbitration, the Reds give Danny Graves (7-3, 3.19, 32 saves) a three-year deal. The team’s former closer is slated to join the starting rotation this season after posting a 1-0 record with a 1.89 ERA in his four appearances as a starter at the end of last season.
Philadelphia Phillies third baseman Scott Rolen avoids arbitration, signing the largest contract in team history, a $8.6 million, one-year deal.
Slugger Barry Bonds avoids arbitration by agreeing to a five-year, $90 million deal with the San Francisco Giants. The contract also calls for a 10-year personal services commitment at the end of his playing days.
Richard Hidalgo signs the third-richest contract in Astro history with a four-year $32 million deal with the club. The outfielder’s pact is less than teammate’s Jeff Bagwell’s $85 million (5 years) and Craig Biggio’s $33 million (4 years).
2001 – After 13 months of negotiations, Derek Jeter and the Yankees finalize a $189 million, 10-year contract. The deal makes the All-Star shortstop second only to Alex Rodriguez ($252 million/10 years) as highest-paid player in the history of the sport.
After rejecting a trade to the Mets, 36 year-old Barry Larkin agrees to a three-year, $27 million contract extension to continue to play for the Reds. The deal will keep the former Rookie of the Year (1986), NL’s MVP (1995), and 11-time All-Star shortstop in Cincinnati until 2003.
The Boston Red Sox sign outfielder Carl Everett to a three-year contract.