The Pittsburgh Pirates have made the Matt Diaz signing official, inking the outfielder to a two-year deal. We learned Diaz’s role in 2011 after the Lyle Overbay signing earlier today, as he will be platooning in right field with Garrett Jones. That’s a good combination, as Diaz is a career .335/.373/.533 hitter against left handers, while Jones is a career .282/.359/.495 hitter against right handers.
Diaz will receive $4.25 M for his two year deal, although we don’t know the breakdown yet. My guess is that it will be $2 M a year, with a $250 K signing bonus.
The additions of Diaz and Overbay put the 40-man roster at 40 players. The Kevin Correia signing still has to be made official, and to do that, the Pirates need to clear a space on the 40-man roster, which could lead to a Ryan Doumit trade.
UPDATE 8:03 PM: Jennifer Langosch has the contract details. As expected, the deal is for $2 M a year, with a $250 K signing bonus. There are also performance bonuses. Diaz can earn:
-$25,000 each for 300, 325, 350, 375, and 400 plate appearances. Diaz has topped 300 plate appearances on three occasions (2006, 2007, 2009), has topped 375 twice (2007, 2009), and topped 400 in 2009. A repeat of his 2009 season would earn him an additional $1.25 M.
-$150,000 for winning the MVP Award ($100,000 for finishing second in the voting, $75,000 for finishing third), $25,000 for winning the World Series MVP, $25,000 for winning the League Championship Series MVP, $25,000 for winning the Division Series MVP, $25,000 for winning a Gold Glove Award, $25,000 for an All-Star appearance, and $50,000 for a Silver Slugger Award.
-The club also can’t offer salary arbitration to Diaz following the 2012 season if he is eligible as a Type A free agent. Diaz currently ranks as a Type B player.