Dejan reports that it will be a three-year deal, plus a team option for a fourth season. This will take him through arbitration, with the option year taking care of his first opportunity at free agency. Financial terms have not been released yet. Assuming they are reasonable, this is a solid deal for the Pirates. It gives them cost certainty, and it keeps Maholm on the team for an extra season if he continues to produce.
Here is a quick look at Maholm’s financial value, courtesy of R.J. Anderson of Beyond the Box Score.
UPDATE (1/30/2009, 1:30 PM): The Pirates will officially announce the contract at a press conference today at 2 PM. It is worth $14.5 million over three years, plus a $9.75 million option for a fourth year. Here is the yearly breakdown:
|2012||$9.75 million option ($750,000 buyout)|
If you follow the above link, you see that R.J.’s estimate was about $16-17 million for the three years of arbitration. Assuming Maholm continues to perform at the level he has averaged the past three years, this deal is a bit of a bargain. In addition, the team gets the option to keep him for an extra season. Good stuff.