Sources: Markakis, O's reach $66M deal

Millz

LGB
Staff member
V.I.P.
#2
Here's some more specific on the money involved in the deal:

Orioles agreed to terms with outfielder Nick Markakis on a six-year, $66.1 million contract with a mutual option for 2015.

Markakis gets a $2.1 million bonus, $3 million in 2009, $6.75 million in 2010, $10.25 million in 2011, $12 million in 2012 and $15 million each in 2013 and 2014. The deal includes a $17.5 million mutual option for 2015. If the Orioles decline it, he'd receive a $2 million buyout. If he declines it, then the buyout would disappear. The contract looks pretty good for both sides. A 28-year-old Markakis could have commanded a seven- or eight-year deal as a free agent after 2011, but odds are that he'll still do just fine at 31.
I agree this is a nice move by the O's. They have a really young and talented outfield right now.