92-3-the-fan b

Indians

Jimenez, Orioles Complete $50M, 4-Year Contract

By The Associated Press
View Comments
(Photo by Jason Miller/Getty Images)

(Photo by Jason Miller/Getty Images)

Indians Central
Shop for Indians Gear
Buy Indians Tickets

MLB Scoreboard
MLB Standings
Team STATS
Team Schedule
Team Roster
Team Injuries

Sports Fan Insider

Keep up with your favorite teams and athletes with daily updates.
Sign Up

SARASOTA, Fla. (AP) — Right-hander Ubaldo Jimenez and the Baltimore Orioles have finalized a $50 million, four-year contract.

The 30-year-old gets salaries of $11.25 million this year, $12.25 million in 2015, $13 million in 2016 and $13.5 million in 2017 under Wednesday’s agreement. Each season’s salary includes $2.25 million deferred without interest, payable in four equal installments on each July 1 starting in 2018.

He can earn a pair of $400,000 performance bonuses each year, for 32 starts and 200 innings. If he wins a Cy Young Award or is MVP, his salary in each remaining year of the contract would escalate by $500,000. The salaries would go up by $250,000 if he finishes second in either vote and by $150,000 if he is third.

Jimenez, who is to be introduced at a Thursday news conference, is 82-75 with a 3.92 ERA in eight seasons with Colorado and Cleveland, including 13-9 with a 3.30 ERA for the Indians. He was the NL All-Star game starter in 2010, when he was 19-8 with a 2.88 ERA for Colorado.

Baltimore forfeits its first-round selection in June’s amateur draft, the 17th pick overall.

Jimenez joins a rotation expected to include Chris Tillman, Wei-Yin Chen, Miguel Gonzalez and Bud Norris. To clear a roster spot, Baltimore designated right-hander Liam Hendriks for assignment.

__

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

View Comments
blog comments powered by Disqus