CUBS Rizzo earns extension
CHICAGO - Slugging first baseman Anthony Rizzo and the Chicago Cubs agreed Monday to a $41 million, seven-year contract that could be worth up to $68 million over nine seasons.
The 23-year-old Rizzo is considered one of the centerpieces of the Cubs’ rebuilding efforts. He is hitting .280 with a .352 on-base percentage. He also has nine home runs and 28 RBI in his third major league season.
Rizzo gets a $2 million signing bonus, of which $250,000 is payable within 30 days of the contract’s approval by Major League Baseball and $1.75 million is payable next Jan. 15. He receives a $750,000 salary this year, up from $498,000 under the agreement he reached in March. He then will earn $1.25 million next year, $5 million apiece in 2015 and 2016, $7 million each in 2017 and 2018 and $11 million in 2019.
Chicago has a $14.5 million option for 2020 with a $2 million buyout. If that is exercised, the Cubs will have a $14.5 million for 2021 with a $2 million buyout.
If an option is declined, the buyout is payable the following Jan. 15.
Sports, Pages 20 on 05/14/2013