Tagged in: salary

New York Yankees acquire All-Star first baseman Anthony Rizzo from Chicago Cubs

The New York Yankees obtained All-Star first baseman Anthony Rizzo from the Chicago Cubs on Thursday, it was revealed.

Right-handed pitcher Alexander Vizcaino and outfielder Kevin Alcantara, both minor leaguers, will head from New York to Chicago in the trade.

The Yankees also announced they acquired cash considerations from the Cubs but didn’t specify the amount. A source told ESPN’s Jesse Rogers that it is $5.5 million, which is the remaining balance of Rizzo’s $16.5 million salary this season.

Rizzo wasn’t in the lineup for the Cubs’ series finale versus the Cincinnati Reds on Thursday. The three-time All-Star is batting .248 with 14 home runs and 40 RBIs in 92 games this season.

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Rizzo, who will turn 32 on Aug. 8, can become a free agent after the season.

He has spent the past 10 seasons with Chicago. The slugger went over in a trade with the San Diego Padres in 2012 and is considered one of the iconic Cubs after helping break a 108-year championship drought in 2016.

The move to get Rizzo comes after New York also got All-Star outfielder Joey Gallo from the Texas Rangers. Both Rizzo and Gallo are left-handed hitters, which the Yankees had sought to add to a lineup that was predominantly right-handed — not a good mix at Yankee Stadium with its short porch in right field.

New York started the day fourth in the American League wild-card chase for two spots and then lost 14-0 at Tampa Bay. The Yankees had been using a mix at first base this year with DJ LeMahieu getting a lot of time. 

Luke Voit led the majors in home runs last year during the pandemic-shortened season, but the big first baseman has been injured for much of the year.

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Lionel Messi agrees Barcelona contract, accepts significant wage cut

Lionel Messi and Barcelona have reached an agreement for the forward to sign a new five-year deal with the Catalan club, sources have confirmed to ESPN. Sources added that Messi has accepted a significant wage cut to prolong his stay.

Messi was a free agent after his contract at Barca expired, and he had courted interest from Paris Saint-Germain and Manchester City since first revealing a desire to end his 20-year relationship with Barca last summer. The 34-year-old’s previous contract, which was worth over €500 million ($594m) over four years, expired at the stroke of midnight on June 30.

However, with the return of Joan Laporta as president in March, Messi grew more open to staying at Camp Nou. An official announcement is expected in the coming days. Laporta had hoped to finalize an agreement before Messi’s previous terms expired. Barca’s financial problems made that impossible, though, with their gross debt over €1 billion. Cutbacks have been essential, in terms of transferring players out, reducing the wage bill and getting Messi to accept a lower salary.

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La Liga president Javier Tebas has warned Barca they will not be permitted to register Messi’s new deal if they are unable to reduce spending to comply with the league’s Financial Fair Play rules. Barca’s spending limit has been reduced from over €600m to €347m since the coronavirus pandemic, with further reductions expected to be imposed for the upcoming season.

Therefore, to register Messi’s new deal, in addition to new signings Sergio Aguero, Memphis Depay, Eric Garcia and Emerson Royal, Barca need to continue reducing the wage bill and moving players on. With that in mind, sources at the club refuse to rule out the departure of Antoine Griezmann, a €120m signing in 2019.

Messi is on holiday with his family after his Copa America triumph with Argentina last weekend, which was his first senior trophy with his national team.

He will link up with Ronald Koeman’s squad later in the summer, with Barca’s league campaign kicking off on Aug. 15 versus Real Sociedad at Camp Nou.

Messi had first expressed a desire to leave Barca last August after the 8-2 defeat to Bayern Munich in the Champions League. His relationship with then-president Josep Maria Bartomeu had reached a breaking point.

In a September 2020 interview with Goal, after Barca had blocked his departure, Messi called Bartomeu a “liar” and said the board had been “making things up as they go along” and “plugging holes” for years.

Bartomeu, facing a vote of no confidence, resigned last October and was ultimately replaced by Laporta in March. Laporta has a good relationship with Messi and his family. He was Barca’s president when Messi made his first-team debut and when he signed his first professional contract with the club.

Sources told ESPN in April that Laporta was working on a contract renewal for Messi that included the option of playing in Major League Soccer before returning to Barcelona.

In public and in private, Laporta had always maintained that he was “convinced” he could persuade Messi to stay. The club have already made a series of signings this summer, bringing in Sergio Aguero, Memphis Depay and Eric Garcia, as well as recalling Emerson Royal.

Messi first joined Barca’s academy in 2000 and has gone on to play 778 games for the club, breaking Xavi Hernandez’s appearance record last season. He has scored 672 goals, another club record, and has helped Barca win, among other trophies, 10 La Liga titles and the Champions League on four occasions.

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QB Trevor Lawrence signs $36.8 million rookie contract with Jacksonville Jaguars

Jaguars quarterback and No. 1 overall pick Trevor Lawrence signed his four-year rookie contract Monday, clearing the way for him to attend the start of training camp in three weeks.

Under the NFL’s rookie slotting system, Lawrence’s deal was projected to be worth $36.8 million and included a $24.1 million signing bonus. He will count $6.7 million against the salary cap in 2021.

The contract also incorporates a fifth-year option that is attached to every rookie deal for first-round selections.

A source told ESPN’s Adam Schefter that details of the contract includes: Lawrence’s signing bonus will be paid within 15 days and the quarterback is deemed to have passed his physical for signing bonus purposes.

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There is no offset language in the contract, meaning that he would still receive the full amount of guaranteed money left in his contract even if he were to be released and sign with another team.

The majority of Lawrence’s compensation will come in his roster bonuses in 2022, 2023 and 2024.

He will earn that bonus if he is on the 90-man roster on the third day after the mandatory reporting date.

Lawrence will earn his roster bonus even if he is on the active non-football injury list.

With Lawrence under contract, Jacksonville has now signed six of its nine draft picks. Running back Travis Etienne (first round), cornerback Tyson Campbell (second) and offensive tackle Walker Little (second) remains unsigned.

Lawrence is anticipated to be an immediate starter in Year 1. He went 34-2 at Clemson, recording the third-best winning percentage by a starting quarterback (minimum 30 starts) in college football since 1978.

He finished his college career undefeated in regular-season play and led the Tigers to the national championship as a freshman in 2018.

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Detroit Pistons, Blake Griffin agree to contract buyout

Six-time NBA All-Star Blake Griffin has agreed to a contract buyout with the Detroit Pistons and will become an unrestricted free agent, the team revealed Friday.

The Brooklyn Nets, Golden State Warriors, Miami Heat and Portland Trail Blazers are expected to be among the teams Griffin will be considering for his next stop, sources tell ESPN.

Griffin, 31, is expected to make a decision on his next team after conversations with prospective teams, sources said.

“Blake has been a great representative for our franchise and for the city of Detroit,” owner Tom Gores said in a statement Friday. “His work ethic and his approach to the game contributed a lot to our culture. He has been a consummate pro and we wish him continued success.

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“I’m grateful for everything he did for our team and for our community.”

Finding a trade for Griffin — who was owed a remaining $36.6 million this campaign and $39 million in 2021-22 prior to the buyout — was an insurmountable challenge for the Pistons.

Detroit concluded a reduction in his remaining salary to gain free agency with Griffin’s agent, Sam Goldfeder of Excel Sports, since the sides mutually agreed he would leave the active roster on Feb. 15 awaiting a trade or buyout.

“I thank the Pistons organization for working together on an outcome that benefits all involved and I wish the franchise success in the future,” Griffin said in a statement released by the team.

Detroit has entered a full-fledged rebuild under first-year general manager Troy Weaver, and the chance to play the franchise’s younger players has taken precedence for the Pistons.

Injuries have dramatically altered Griffin’s game, eliminating the high-flying rim attacks that marked his All-Star career. He’s averaging 12.3 points, 5.2 rebounds and 3.9 assists for Detroit this season.

Griffin was traded less than a season into a five-year, $171 million max deal with the LA Clippers, arriving in Detroit in late January 2018.

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Detroit Lions dealing Matthew Stafford to Los Angeles Rams for Jared Goff

In the world of sports, a blockbuster trade can strike at any time and that’s precisely what happened when the Detroit Lions agreed to deal franchise quarterback Matthew Stafford to the Los Angeles Rams for Jared Goff and three future NFL draft picks, as confirmed by CBS Sports’ Jason La Canfora.

After the dust settled, the Rams sent Goff, their 2021 third-round pick, their 2022 first-round pick and their 2023 first-round pick to the Lions for Stafford. 

It didn’t take long for first-year Lions general manager Brad Holmes to make a big splash. Holmes came to Detroit from Los Angeles where he was the director of college scouting with the Rams from 2013-2020 — so it’s safe to say he an excellent idea about what the Lions will be getting in return with Goff as their new quarterback.

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This trade also brings a significant financial impact from a salary cap standpoint.

Per NFL Network’s Tom Pelissero, the Rams will inherit the two years, $43 million remaining on Matthew Stafford’s contract.

The Lions will inherit four years, $106.6M remaining on Jared Goff’s contract. The Rams will carry a $22.2M dead cap hit in 2021 after trading Goff and the Lions will carry a $17.8 million dead cap hit in 2021.

Earlier this week, Rams general manager Les Snead did not provide a public vote of confidence for Goff when asked multiple times about the quarterback’s future with the Rams.

“Moving on from Jared Goff, that’s … the money we’ve invested in him, that’s not easy to overcome,” said Snead, who added later that “anything can be done” in a cap-based system.

The Lions will face the Rams next season at SoFi Stadium.

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New York Mets acquire Francisco Lindor, Carlos Carrasco from Cleveland Indians

Francisco Lindor is moving to a new city and team that is willing to meet his salary demands.

The four-time All-Star shortstop — and one of baseball’s best all-around players — was traded Thursday by the Cleveland Indians along with pitcher Carlos Carrasco to the New York Mets, who have a new owner willing to spend at baseball’s highest levels.

“They did not come cheaply,” Mets president Sandy Alderson stated. “What we’re trying to do is create a new reality rather than deal with perception.”

The cash-strapped Indians sent Lindor and Carrasco to the Mets for infielders Andres Gimenez and Amed Rosario, right-hander Josh Wolf and outfielder Isaiah Greene — a move Cleveland hopes will keep it competitive and capable of ending baseball’s longest World Series title drought.

Dealing Lindor, who will be eligible for free agency after the 2021 season, was inevitable for the midmarket Indians, who are unable to compete financially with MLB’s big spenders and dropped roughly $30 million in dealing two prominent players and fan favorites.

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“These are people we care about, not just players, and guys that loved the organization and have great memories here,” said Indians president of baseball operations Chris Antonetti, who said he was in tears when he spoke with Lindor and Carrasco. “Trades like this are really tough. But it’s the right thing to do.”

For the Mets, landing Lindor is a home run and another major move by hedge fund owner Steven Cohen, who bought the team on Nov. 6 from the Wilpon and Katz families and has pledged to increase spending.

The 27-year-old Lindor can affect the game with his bat, glove and legs.

A two-time Gold Glove winner, he’s a career .285 hitter and has averaged 29 homers, 86 RBIs and 21 steals in his six major league seasons — all with the Indians, who drafted him in 2011 and developed him.

He has also been the face of the Indians franchise, with an infectious smile and joy for playing that has made him one of Cleveland’s most popular athletes. But he’s gone now, leaving the Indians without their best player and the team’s fans grumbling about owner Paul Dolan.

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Miami Heat, Bam Adebayo agree to 5-year max extension

The Miami Heat and Bam Adebayo have agreed to a five-year max extension, Adebayo’s agent, Alex Saratsis, told ESPN’s Zach Lowe on Tuesday.

The deal contains escalator clauses that can take its total to $195 million over five years, Saratsis told ESPN. The contract has not been signed and won’t be until Adebayo finalizes a physical, something that is likely to occur in the next few days.

It will be the richest contract in terms of total value in Heat franchise history, surpassing Jimmy Butler’s $141 million deal from last offseason, according to ESPN Stats & Information research.

“This is an accomplishment I always wanted to get,” Adebayo stated. “Just being able to reach this milestone and being able to generationally change my family’s life and also take care of the people around me, it’s a big deal to me.”

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Adebayo will make $5.1 million this season, the final year of his rookie contract.

From there, the extension will kick in with a starting salary of somewhere around $28.1 million for the 2021-22 season. And if he makes an All-NBA team or wins another top leaguewide honor this season, his annual salary would only increase.

“It’s another challenge I’m willing to take on,” Adebayo said. “I’m all about helping this team win. If my individual accolades help, then I’m for sure in.”

The Heat had until Dec. 21 to agree with Adebayo on an extension or else would have had to table the matter until next summer. Miami has stated the team’s intention was to give Adebayo a new deal — the only question was when. By waiting until next summer, the Heat would have had more salary-cap flexibility.

Adebayo is coming off what was by far the best season of his career. He was an All-Star for the first time, won the skills competition at All-Star Weekend, had the game-saving block of a Jayson Tatum dunk attempt in the final seconds of Miami’s Game 1 win over Boston in the Eastern Conference finals and made the NBA All-Defensive Team.

When this deal is done, he’ll become the fourth member of the 2017 NBA draft class to secure a max extension; the others were Sacramento’s De’Aaron Fox, Utah’s Donovan Mitchell and Tatum.

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Athletics to have furloughs, salary cuts

The Oakland Athletics, feeling the financial crunch of a 2020 season that has yet to get off the ground, have implemented a system of furloughs and salary reductions that will impact the majority of their baseball-operations department, sources told ESPN on Tuesday.

Professional scouts will be furloughed next week and amateur scouts will be furloughed shortly after the June 10-11 draft. In addition, about three-quarters of the A’s player-development staff is said to be bracing for furloughs, which typically run through the end of October, industry sources said. Layoffs have not been implemented, but baseball-operations employees who were not furloughed will face pay reductions.

The A’s also informed minor league players on Tuesday that they would not continue paying them $400 a week after the end of the month, sources familiar with the situation told ESPN’s Jeff Passan.

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“Baseball is more than a job — it is a way of life,” Athletics owner John Fisher wrote in a letter to fans and staff. “People who work for our team are our family — our very foundation — and they work tirelessly to help the A’s compete in this most precious game. COVID-19 has brought a tragic loss of life and sickness to so many in our community, and it has impacted us all in ways we could have never imagined. Our organization, like so many others across the country, has had to make tough and painful decisions.”

The A’s are apparently past due on the annual $1.2 million rent payment for their stadium.

They joined the Los Angeles Angels and the Miami Marlins among teams that have instituted wide-ranging furloughs as a cost-cutting measure amid the financial difficulties caused by the coronavirus pandemic.

The Los Angeles Dodgers, however, will instead implement a system of tiered salary cuts for those making more than $75,000, sources told ESPN’s Ramona Shelburne.

Major League Baseball presented its first economic proposal to the MLB Players Association on Tuesday, marking the beginning of what is expected to be a prolonged, contentious negotiation. The hope is that both sides can come to an agreement so that the regular season can start in early July, though matches will be played without fans.

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