Miggy's new extension loaded with incentives
DETROIT -- Miguel Cabrera's record contract extension, guaranteeing him $292 million, is slightly backloaded, recently-released details show. More importantly, it includes some incentives that could raise the eventual total even higher.
Cabrera's $22 million salary remains intact for this year and next. His salary will jump to $28 million for 2016 and '17, then $30 million from '18 through '21. The last two guaranteed seasons of his deal are the most lucrative at $32 million each.
Cabrera will get either a $30 million salary in 2024, if his option vests with a top 10 MVP finish or if the club picks it up, or he'll get an $8 million buyout. The same option is in place for '25, though not with a buyout.
The deal also includes some good-sized bonuses. Another American League Most Valuable Player Award will earn him $2 million. Finishing second through fifth in the voting will earn him $200,000. Placing sixth through 10th will earn him $100,000. Winning the Hank Aaron Award is worth $250,000. He also has a bonus of $100,000 for being voted an All-Star or being named to the Baseball America, AP or Sporting News end-of-season All-Star teams.
Cabrera has $100,000 bonuses for Silver Slugger and Gold Glove awards, $150,000 for ALCS Most Valuable Player, and $200,000 for World Series MVP. If he wins league MVP, the Hank Aaron Award and World Series MVP in the same season, he gets a $1 million bonus.