LAKE BUENA VISTA, Fla. -- After negotiating into the early hours on Saturday, the Marlins reached agreement on a deal to send National League Most Valuable Player Award winner Giancarlo Stanton to the Yankees, and the trade was finalized on Monday.In return for Stanton, Miami acquired second baseman Starlin Castro,
LAKE BUENA VISTA, Fla. -- After negotiating into the early hours on Saturday, the Marlins reached agreement on a deal to send National League Most Valuable Player Award winner Giancarlo Stanton to the Yankees, and the trade was finalized on Monday.
In return for Stanton, Miami acquired second baseman Starlin Castro, along with Minor League right-hander Jorge Guzman, ranked by MLBPipeline.com as New York's No. 9 prospect, and infielder Jose Devers. The Marlins traded second baseman Dee Gordon to Seattle on Thursday.
Stanton's contract has an average annual value of $25 million, while Castro's is $7.57 million, so the Yankees' increase in payroll for luxury-tax purposes is expected to be no more than $17.43 million. The Yankees will assume all but $30 million of the $295 million owed to Stanton over the next 10 years (assuming Stanton does not opt out following the 2020 season).
MLB.com learned that the Marlins and Yankees were engaged in serious discussions for Stanton hours after the Giants and Cardinals sent out statements that they were no longer in the mix. Each team noted Stanton declined to waive his no-trade clause.
The Stanton sweepstakes has been one of the most followed stories of the Hot Stove season, and it appeared it would linger into the Winter Meetings.
While viewed as a surprise fit by many, there are front office connections between the Marlins and Yankees.
Derek Jeter is the Marlins' new chief executive officer, and Gary Denbo is the vice president of player development, which is the same role he held with New York until mid-October.
Denbo has a thorough understanding of the Yankees' deep farm system. And there are a number of prospects, even those ranked lower on MLBPipeline.com's top 30 list, that are considered future impactful Major Leaguers.
Since joining the Marlins, Jeter repeatedly has said, some unpopular decisions would need to be made.
On the Marlins Hot Stove radio show that aired Monday on Miami's 940 AM WINZ and streamed on Marlins.com, Jeter said of Stanton: "He's arguably the best player in the game. He just won the MVP award. He had one of the greatest seasons that I've seen a player have in the last 20-plus years."
But Stanton became available on the trade market as part of an organizational decision to revamp its roster and reduce payroll.
As big a star as Stanton has been in South Florida, his record-setting, 13-year, $325 million contract signed in 2014 was becoming challenging for the Marlins' budget.
Stanton's salary is increasing to $25 million next year, and he is owed $295 million over the remaining 10 years of his contract.
Miami finished 77-85 and hasn't had a winning season since 2009. The last playoff appearance was 2003, and now changes are being made.
Moving Stanton represents the Marlins' second major deal before the start of the Winter Meetings. On Thursday, the club dealt Gordon to the Mariners for right-handers Nick Neidert and Robert Dugger and infielder Christopher Torres.
Castro, 27, comes off a season in which he batted .300 with 16 home runs, 63 RBIs and with an OPS of .792.
The Marlins could still aim to trade Castro again before Spring Training, but he also could be the replacement for Gordon at second base.
Castro's base salary is $10 million for 2018, $11 million in 2019, and he has a $1 million club buyout for 2020.
The combined salaries of Stanton and Gordon for 2018 total $35 million. Gordon is owed $38 million for the next three seasons.
Stanton would become the first reigning MVP since Alex Rodriguez to be traded before the following season. After A-Rod was MVP with the Rangers in 2003, he was dealt before the 2004 season to the Yankees.
Joe Frisaro has covered the Marlins for MLB.com since 2002. Follow him on Twitter @JoeFrisaro and listen to his podcast.