Buster Posey, the San Francisco Giants superstar catcher, is the latest pro athlete to cash in on a huge contract extension.
The 2012 Most Valuable Player in the National League, Posey has inked a nine-year, $167 million contract reportedly with a full no-trade clause, a deal which incorporates the 2013 season for which he is already under contract.
Under the new contract, Posey will be a member of the Giants -- the defending World Series champions -- through 2021, with a club option for 2022. He made his debut with the Giants in September 2009, and now is in line to receive "the most money ever guaranteed to a player with fewer than three years of service time." It's also the fattest contact the Giants have ever handed out to a player.
Posey was the NL Rookie of the Year in 2010, the same year his team won the World Series. Last year, when the team again won the Fall Classic, he captured the NL batting title with a.336 average (plus 24 home runs with 103 RBI). Along with 2012 MVP honors, he was named the Comeback Player of the Year. You'll may recall that in May 2011, Posey's second full MLB season season ended abruptly when Florida Marlins outfielder Scott Cousins bowled him over crossing home plate. Posey's ankle was shattered, and major surgery was required.
Posey, 26, is a (so far) a lifetime.314 hitter with 46 home runs and 350 hits and 191 RBI going into the 2013 season. The details of the new contract are said to be as follows:
"Posey will receive a $7 million signing bonus, according to the source. Having previously settled for $8 million this year, Posey now will receive $3 million in 2013, $10.5 million in '14, $16.5 million in '15, $20 million in '16 and $21.4 million per year from 2017-21. The 2022 club option is worth $22 million, with a $3 million buyout. Posey also will contribute $50,000 per year to Giants charities."
Apart from the historic contract itself, Posey's tenure as a big leaguer is also historic because he "and Stan Musial are the only players to win two World Series rings and an MVP in their first three full seasons."
Buster Posey is pretty happy about the outcome of the contact negotiations (and wouldn't you be?):
"It's a surreal feeling to know that I'll be here for the next nine years.... I'm thrilled."