Wright’s contract discussions hit snag over deferred money

The Mets and David Wright’s agents are having a disagreement about deferred money in the proposed contract, Mike Puma reports in the New York Post, according to an industry source with knowledge of the negotiations.

Puma believes the contract offered to Wright translates to significantly less dollars in the short term, although its unclear as to how much money would be deferred.

Yesterday, Ken Rosenthal of FOX Sports reported the Mets offered a seven-year contract extension, worth between $119-129 million beginning after 2013.

Matthew Cerrone, Lead Writer

This is actually a pretty big sticking point, since the Time Value of Money can significantly reduce how much cash ultimately ends up in Wright’s bank account.

The way I understand this, similar to Johan Santana and other big-name free agents of the past, the Mets likely deferred money to be paid to Wright long after his deal expires. For instance, the present-day value of Santana’s contract (when it was signed) was actually said to be $121 million, as opposed to the $136 million that was announced. Why? According to reports, $5 million of his salary was deferred annually at 1.25% compounded interest (payable starting seven years after the season in which the salary was earned). It’s a nice, stable retirement plan, I suppose. But, it’s also less cash-in-hand now, which may have gotten more than a 5% return had it been better invested.

It seems to be a recurring tactic with this Ownership. And, while Santana and others seemed to have no problem with it, clearly Wright does. That’s his prerogative, especially if he believes he’d do a better job investing than the Mets. On the other hand, the Mets no doubt prefer to defer the payments so they have more capital on hand in the short-term (either to pay down debt or add new players to the roster).

Frankly, this is all a little technical for me. I simply want to see Wright sign a deal and I want the Mets to know how best to move forward on rebuilding the roster this winter. But, I get it. It’s David’s life and personal finances, and so I’d be a stickler too; and probably equally angry if it was all made public, as well.

Mets offer 7 years and up to $129 million to Wright

The Mets current offer to David Wright is for seven years, and worth between $119 and $129 million, starting after 2013, according to a recent tweet from FOXSports.com’s Ken Rosenthal.


Nov. 27, 3:39 pm: “The Mets are offering Wright a seven-year deal for $135-140 million, according to people familiar with the talks,” Jon Heyman reports for CBSSports.com.

Matthew Cerrone, Lead Writer

Nov. 27, 4:15 pm: OK, so, to keep track, that would mean, starting today, counting next season’s option, Wright would be under contract the next eight seasons (through 2020) at around $18 million per season. According to my sources, he’s been insisting on seven years and to be under contract through 2020, which is on par with Rosenthal’s report; but he has also requested $20 million per season, which is less than what is being offered.

However, if the Mets started at six years and $100 million, and Wright wanted seven years and $140 million, then Rosenthal’s report seems like a nice middle ground and a place both sides can agree… I like this.

Frankly, I’ve been hearing Wright and Sandy Alderson were more or less comfortable with one another’s demands a few weeks ago, when the two sides all met in Virginia.  So, it’s always seemed like just a matter of time << click to tweet this.

Basically, Wright has said he wants this to be his final contract. I get the impression he doesn’t plan to play too much beyond his late 30s. So, a seven-year extension, on top of his 2013 option, will keep him paid very well and under contract through his 37th birthday. The money can be worked out, but it seems security is his biggest goal. He’ll have a no-trade clause because he’s a 10-and-5 guy at that point, so he doesn’t need to worry about being out of control of his fate, either. He’ll get his money. Frankly, his endorsements, Vitamin Water money, etc., probably dwarfs any disagreement about money he may have with the team. He’ll be fine.

I know we’ll be pissing and moaning about this deal in five years, but that doesn’t make it wrong for today. The Mets need to sign him. They know it. He knows it. I’m encouraged by today’s news and rumors, and I trust something will get done sooner than later… fingers crossed.

Mets offer David Wright a seven-year deal

The Mets don’t believe a contract extension with David Wright will be finalized before the MLB Winter Meetings, which start next week, a source told ESPN’s Jayston Stark.


Nov. 27, 1:56 pm: The Mets believe David Wright will sign a contract extension this winter, a source close to team officials has told ESPN New York.

“They’ve been really optimistic,” the source said.


Nov. 27, 1:23 pm: The Mets have upped their offer to David Wright, going from six years to seven, with the deal now worth in excess of $100 million, Andy Martino reports for the Daily News.

According to ESPN New York, the seven-year deal is an extension that would go into effect in 2014.

Earlier today, FOXSports.com’s Ken Rosenthal said the Mets offered Wright a six-year deal this past Monday.

Last week, MetsBlog.com’s Matthew Cerrone said Wright had been seeking a seven-year, $140 million contract, despite the Mets only offering a six-year deal.

Matthew Cerrone, Lead Writer

This is good news. Wright has been asking the Mets for $20 million a year, with at least seven years guaranteed, which I’ve been writing for weeks. Martino’s report suggests things are getting closer…

ESPN New York’s report means, when all is said and done, Wright could be under contract the next eight seasons (through 2020). I bet this isn’t for $20 million a year, though. My guess is, to give the extra year, the Mets probably wanted to stick to $17 million per year (on average). So, let’s say they caved just a little and tossed in an extra million per season, “you know, for the effort,” that would basically make this an eight-year deal worth roughly $144, which is impressive and should be more than good enough for Wright. It has to be, right?

This all sounds good. I like where it’s headed. Come on, guys… Get. It. Done!

Mets making little progress with David Wright & R.A. Dickey

The Mets are still making little progress in their efforts to sign David Wright and R.A. Dickey to contract extensions this winter, Ken Rosenthal of FOXSports.com reports, citing club officials.

According to Rosenthal, the Mets offered Wright a six-year, $100 million contract extension on Monday, according to major-league sources.  However, Wright prefers a deal of seven years or longer, sources say.

Matthew Cerrone, Lead Writer

This is getting old… and quick. I still think there is zero chance Wright is traded this winter, even if a new contract isn’t worked out. I put Dickey being traded at 49%. But, I’m growing more and more skeptical that new contracts will get done, and that’s ridiculous. I mean, if the Mets really want these guys back, just sign them already…

I’ve written over and over and over again that, while Wright is seeking $20 million a year and at least seven years guaranteed, the Mets have so far only offered six years and around $17 million a year << click to tweet this

As Rosenthal points out, a six-year, $100 million extension would keep Wright on the Mets for as long as as Ryan Zimmerman is on the Nationals, but three years less than Evan Longoria will be with the Rays. Guys, just give him the seventh year. He’s earned it in sweat and off-field capital, I’d say. Also, put a C on  his jersey while you’re at it…

Michael Baron, Contributor

11:38 am: Based on what Dickey said and Martino’s report, it looks like the Mets could be focused on getting Wright’s situation squared away first. It would be nice of both deals were wrapped up before the Winter Meetings begin next week so the Mets could focus their efforts on improving other areas of the roster. It would also ease my nerves and create stability in their situations and the team’s situation, things I’ve said the Mets have needed to show since the off-season began.

Mets have made an offer to David Wright, Wright has countered

The Mets have made a contract offer to David Wright, and Wright’s agents have countered, according to Ken Rosenthal of FOX Sports.

Rosenthal says the terms of the offer are not yet known.

Matthew Cerrone, Lead Writer

Posted Nov. 12: Based on what I’m hearing, Wright’s camp is thinking seven years and at least $130 million guaranteed, while the Mets are thinking more like six years and around $110 million. Frankly, that’s close enough to make me confident they’ll eventually find a compromise.

If Wright was on the open market, I’d be worried. But, because I truly believe he’s going to start next season on the Mets with or without a new deal – and because people say he really wants to retire here – and because the Mets need him – and because no other team can make him an offer right now – and because he knows he ended last year in a massive slump and next year could break his value as a free agent – I trust these two sides will eventually come together.

I don’t expect this to be negotiated in public. Instead, I expect to read statements that kick this story down the road (like this tweet from Rosenthal), taking it deeper in to the off season than most fans are probably comfortable with. This will inevitably fuel skepticism. But, my hope is that one day this winter, out of no place, someone will report a deal is done and that will be that.

Previous updates on David Wright...

Contract: Wright just completed the final year Wright of a six-year, $55 million contract he signed during the 2006 season. The Mets exercised their $16 million club option for 2013, and can become a free agent after next season.

Reports and Posts:

  • Nov. 8: The Mets are not looking to trade David Wright at this time, according to Danny Knobler of CBS Sports.
  • Oct 30: Jon Heyman of CBS Sports says the Mets are currently negotiating with David Wright on a contract extension, although progress on a new deal has been slow between the two sides.
  • Oct 27: Joel Sherman of the New York Post says “ten officials” outside the Mets organization believe if the Mets offer David Wright a seven-year, $127 million contract extension, in addition to his $16 million option for 2013, that should be enough to convince him to stay with the Mets.

Priority remains retaining Wright and Dickey

Today in Coney Island, Mets COO Jeff Wilpon told reporters the team’s top priority remains retaining both David Wright and R.A. Dickey.

Wilpon says negotiations are “on-going” with the two players, and while Wilpon acknowledged they are exploring other options for Dickey, that serves only as their backup plan.

Dickey went 20-6 with a 2.73 ERA, having allowed 192 hits and 54 walks with 230 strikeouts in 233 2/3 innings. He became the first Met to win 20 games since Frank Viola in 1990, and is a finalist for the National League Cy Young Award, which will be announced tomorrow night.

The Mets exercised both Wright’s and Dickey’s options for 2013 – Wright will earn $16 million and Dickey will earn $5 million. Both can become free agents after the 2013 season.

Where things stand with David Wright and the Mets

Matthew Cerrone , Lead Writer

According to countless reports, David Wright and the Mets want to agree to a long-term contract extension.

However, based on what I’m hearing, Wright’s camp is thinking seven years and at least $130 million guaranteed, while the Mets are thinking more like six years and around $110 million. Frankly, that’s close enough to make me confident they’ll eventually find a compromise.

If Wright was on the open market, I’d be worried. But, because I truly believe he’s going to start next season on the Mets with or without a new deal – and because people say he really wants to retire here – and because the Mets need him – and because no other team can make him an offer right now – and because he knows he ended last year in a massive slump and next year could break his value as a free agent – I trust these two sides will eventually come together.

When? I don’t know. But, I don’t expect this to be negotiated in public. Instead, I expect to read statements that kick this story down the road, taking it deeper in to the off season than most fans are probably comfortable with. This will inevitably fuel skepticism. But, my hope is that one day this winter, out of no place, someone will report a deal is done and that will be that.

R.A. Dickey, on the other hand, is a totally different story… more on that later.

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