Reds Give Arroyo $25M for 2 More Years
Thursday, February 8th 2007, 11:12 am
By: News On 6
CINCINNATI (AP) _ Right-hander Bronson Arroyo and the Cincinnati Reds agreed Thursday to a $25 million, two-year contract extension through 2010.
Arroyo's previous contract contains $8,075,000 in remaining guaranteed salary: $4,125,000 this year and $3.95 million in 2008.
His extension calls for a $2.5 million signing bonus, payable in 2008, and salaries of $9.5 million in 2009 and $11 million in 2010.
Cincinnati has an $11 million option for 2011 with a $2 million buyout. The price of the option can escalate to $13 million, based on innings.
As part of the extension, Arroyo agreed to eliminate a clause that could have increased his 2008 salary by $325,000 if he pitched 210 innings this year, and $325,000 in possible performance bonuses in 2008.
Arroyo's deal came two days after the Reds agreed to a $36.5 million, four-year contract with Aaron Harang, their other top starter. That agreement also includes a 2011 option.
Arroyo, an NL All-Star, led the major leagues with 240 2-3 innings pitched and was 14-11 with an ERA of 3.29.
He and Harang, who won 16 games and pitched 234 1-3 innings, became the first pair in Reds history to each pitch at least 200 innings and have at least 184 strikeouts. Harang led the National League with 216 strikeouts.
The Reds obtained the 30-year-old Arroyo from Boston last March in a trade for outfielder Wily Mo Pena.