After reported deals with the Giants and Mets fell through, the superstar delivered another stunner — Boardroom takes a look at the Twins’ Carlos Correa contract particulars.
UPDATE 12/21: After a 13-year, $350 million contract with the San Francisco Giants was agreed on Dec. 12, Jon Heyman of the New York Post was first to report that Carlos Correa had backed out before the deal was finalized and agreed to sign with the New York Mets.
UPDATE 1/10: After a 12-year, $315 million contract with the Mets was never went final, ESPN’s Jeff Passan was first report that Correa had agreed to return to the Minnesota Twins.
The San Francisco Giants entered the 2022-23 MLB offseason hoping to make several big swings. And while they weren’t able to convince a certain Aaron Judge to relocate to the Bay, they found themselves celebrating this week after scoring a major coup. Carlos Correa, who signed with the Minnesota Twins just one year ago for three years and $105.3 million but exercised his right to opt out and re-enter free agency this winter, had reportedly added to baseball’s ongoing billion-dollar spending bonanza with a deal whose total value actually rivals what the Yankees gave Mr. #AllRise.
The Giants had perpetrated a free agent splash worthy of McCovey Cove: 13 years, $350 million.
Until they hadn’t.
The Giants had scheduled Correa’s introductory press conference for Dec. 20, but postponed it just hours before after a potential issue reportedly emerged from his medical evaluation. Checking this final box was the last condition of this mutually agreed deal being 100% official. That box was not ultimately checked to everyone’s liking. The contract was not finalized.
In strolled the famously moneyed Steve Cohen, the owner who keeps forcing top theoretical scientists to search for previously undiscovered luxury tax tiers. And just like that, in the wee hours of the morning of Dec. 21, Correa agreed to sign with the New York Mets — and make a notable switch to third base while he’s at it.
They did. Until they didn’t.
Well, though we simply haven’t seen anything like this in America’s Pastime (or perhaps any pastime) we are somehow, some way right back where we started.
When you’re done catching your breath, let’s check out the full salary particulars of the Minnesota Twins’ stunning Carlos Correa contract.
(Pending another medical, of course!)
Carlos Correa Contract Details & Salary
Total value: $200,000,000
Average annual value: $33,333,333.33
Free agency: 2029
NOTE: The deal reportedly contains a vesting option that could escalate the total value of the deal to 10 years and $270,000,000. The deal contains no opt-outs.
Previously reported Correa Giants contract details
Total value: $350,000,000
Average annual value: $26,923,077
Free agency: 2036
Previously reported Correa Mets contract details
Total value: $315,000,000
Average annual value: $26,250,000
Free agency: 2035
Trea Turner got $300 million. Xander Bogaerts got $280 million. Dansby Swanson got $177 million. Suffice to say that the shortstop market has been booming at nuclear bomb levels, which fully explains why Correa wanted to jump right back into the free agent pool this winter.
And after all that sound and fury from the Bay Area to the Five Boroughs, here we are back in the midwest.
Carlos Correa’s Career Earnings
Data via Spotrac.
MLB SALARY EARNINGS THROUGH 2022: $61,944,676
ESTIMATED SALARY EARNINGS THROUGH 2029: $261,944,676
ESTIMATED SALARY EARNINGS THROUGH 2033 (with full vesting option): $331,944,676
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