Before I begin, I just wanted you all to know that I will try to leave all my sentiments for Cliff Lee aside in this post. Cliff did a great job in the World Series and gave my Phillies the only real chance of winning. However, Roy Halladay was the pitcher that the Phils originally had their eye on and they finally got him. I will not break down the trade because that is not my column. However, I will talk about the financial end of the deal.
In March 2006, Halladay signed a three year extension with the Blue Jays worth $40 million. $14.25 was to be paid in 2009, $15.75 in 2010 and he was scheduled to hit the market in 2011.
However, the recent trade to the Phillies has given Halladay a new 3-year, $60 million extension which will take him through 2013. It gets a bit confusing on this end, so let me break it down for you:
- Along with Halladay, the Blue Jays sent the Phillies $6 million in cash to use on his 2010 salary. This will knock the price down to $9.75 million, which was almost equivalent to what the Phils would have paid Cliff Lee this upcoming season.
- Halladay will earn $20 million in each 2011, 2012 and 2013.
- An option for 2014 is available for $20 million and is guaranteed if Halladay can complete all of these tasks:
- Pitch 225 innings in 2013
- Pitch 415 innings in 2012, 2013 combined
- Not be on the disabled list after the 2013 season
This is a deal that seems complex at first, but in reality, it is very simple. Also, good move by the Phillies in getting that extra $6 million from the Blue Jays. Halladay will have to work hard to achieve that guaranteed money since he is only averaging 170 innings pitched over his 12 season career.