The Pittsburgh Pirates have officially announced that they have signed infielder Jung Ho Kang to a four year deal with a club option for the 2019 season. No terms were announced, and no corresponding move has been announced yet. The reported terms on this deal were $16 M total. I’m sure the details will come out at some point soon.
UPDATE 11:10 AM: Jon Heyman says it is believed to be worth $11 M plus.
Jung-ho kang pirates deal is official. 4 years plus team option. Believed worth $11M plus.
— Jon Heyman (@JonHeyman) January 16, 2015
That’s a bit less than the previously reported amount, by about a million per year.
UPDATE 11:16 AM: Neal Huntington had the following to say in the press release about Kang.
“We appreciate and respect Kang’s accomplishments in Korea and look forward to helping him positively impact our Major League team,” said Huntington. “He will complement our existing club with his offensive ability and defensive versatility. Our focus at the present time is helping him transition to the United States and to the Major Leagues. Our ability to help him with this transition will be key for him to reach his potential as a Major League Player.”
The “complement our existing club” part sounds a lot like Kang will be a utility player at first. Huntington will be conferencing with the media at 11:45 AM.
UPDATE 11:34 AM: Heyman says it’s $11 M over four years. It seems that the previous number included the posting fee of $5 M. So the Pirates would be paying about $16 M total for Kang.
Jung-ho kang deal guarantees him $11M over the 4 years, plus a 5th yr team option. pirates post was a bit over $5M.
— Jon Heyman (@JonHeyman) January 16, 2015
UPDATE 11:39 AM: Tom Singer says the option in 2019 is worth $5.5 M, with a $1 M buyout.
Can confirm, via #MLB source, Kang’s deal guaranteed at $11 M for 4 years, including $1 M buyout for 2019 club option for $5.5 M. #Pirates
— Tom Singer (@Tom_Singer) January 16, 2015
This means that Kang is getting paid an average of $2.5 M per year over his four-year deal, not counting the posting fee. It also puts the max value of the deal at $15.5 M over five years.
UPDATE 1:40 PM: Rob Biertempfel says that the option buyout is $250,000. Either way, the Pirates will be paying $11 M.
Still working to determine annual payout of Kang's deal with #Pirates, but I'm told option buyout is $250,000. So, base $10.75M over 4 years
— RobBiertempfel (@RobBiertempfel) January 16, 2015
UPDATE 1:50 PM: Heyman confirms the buyout price.
on kang's $11M pirates deal, 2019 club option is $5.5M (@Tom_Singer 1st), buyout 250K (@BiertempfelTrib 1st)
— Jon Heyman (@JonHeyman) January 16, 2015
