For the last year or so, the Astros have reportedly been offering various long-term deals to some of the young players in their organization, using the carrot of guaranteed millions to try and buy out a couple of free agent years. Up until now, no one had signed the offer, and Evan Longoria remained the record holder for fewest number of days of service before signing a long-term deal. However, with first base prospect Jon Singleton, the Astros have now codified the first deal that officially includes a Major League call-up as part of the package.
According to Jeff Passan of Yahoo Sports, Singleton’s deal is for $10 million guaranteed over the next five seasons, beginning in 2014, with three team options that could push the total value of the deal to $35 million. By getting seven more years of team control after this season, the Astros are essentially buying one free agent year in advance — they would have owned the rest of 2014 anyway, plus six full seasons afterwards — and signing this deal now allowed Singleton to get promoted without worrying about the Super-Two deadline. Had Singleton not signed the deal, he likely would have spent several more weeks in Triple-A.
It goes without saying that this deal is a huge potential boon to the Astros. If Singleton turns out to be a quality player, he would have gone well beyond $35 million in his arbitration years and first free agent season, but if Singleton busts, they’re only out $7 or $8 million above and beyond what they would have paid by going year to year. Risking $7 or $8 million for a chance to save upwards of $30 million — let’s assume a high-quality slugging 1B would have earned ~$40 million in future arbitration earnings and another ~$25 million for his first free agent year — is a total no-brainer for a team like the Astros. There’s a reason they’ve been trying to get nearly every player with any modicum of talent to take deals like these. These deals lean very heavily towards the organization’s favor.
But for Singleton, this represents a significant guarantee. As an 8th round pick in the 2009 draft, he signed for $200,000, so he hasn’t been living in poverty as a minor leaguer, but between taxes, agent commissions, living expenses, and his admitted drug addiction, it’s safe to say that he probably doesn’t have a lot of that money left. In fact, when discussing this particular deal, we cannot ignore Singleton’s past words.
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