Prospect Extensions

[Paul S.]

Prospect extensions signed during this offseason run from 2012 through 2016 under the following rule:

Prospect Extension (went into effect after 2010 season)
Any player who is currently under a prospect contract may be signed to a regular contract extension (see below), but they may also be signed to a prospect extension.  Such an extension must be a 5-year deal where the annual salary is X% of their market value.  The resulting annual salary must be no less than $4m.  No matter what the current prospect contract is, the prospect extension kicks in the FOLLOWING YEAR at the rate based on when the contract is given.

[KDoc09]

Am I wrong in thinking that even though the season hasn't started yet, the 2012 books have already been opened, which would make the following season 2013? Please correct me if I am mistaken.

[Dan Wood]

2011 books were closed as of 11:59PM, on 10/14. We are now in 2012 for all intents and purposes. The contract extensions posted by Colby, Kris, and myself are within the rules as described above.

[Paul S.]

What you are doing is signing them to a 6 year contract.   Those contracts should not be signed until the 2012 season actually begins.   

[Dan Wood]

That's how the rule was written, and how it was discussed. The books are changed over. Anyone who signed someone to a prospect extension last season dud the same thing. Ike Davis, Andrew McCutchen, just off the top of my head. It's perfectly legit.

[Paul S.]

That's how the rule was written, and how it was discussed. The books are changed over. Anyone who signed someone to a prospect extension last season dud the same thing. Ike Davis, Andrew McCutchen, just off the top of my head. It's perfectly legit.

Ike Davis was signed that way, Andrew McCutchen wasn't.  I'm not sure if anyone else was.  So from now on we will be signing all prospects for 6 years rather than 5.  That's fine if it was agreed on.

[Dan Wood]

Cutch, there were a few others, was signed to an extension mid season, after the June rule was passed. It is how prospect extensions will be handled going forward. They will start the following season. It is the way it had to be, in order for players with expiring prospect eligibility to be signed to prospect extensions. I think it works out better for everyone. It might make free agency a bit difficult in the coming years, but only time will tell.