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Moriarty9 · 05-21-2009, 11:54 AM

Martinez inks extension deal
Devil Rays hold $20 M option for 2008 season
November 22, 2002

ST. PETERSBURG, Fla. — The Tampa Bay Devil Rays made the biggest signing of the offseason, and it had nothing to do with a current free agent.

The Devil Rays signed ace pitcher Pedro Martinez to a four-year contract extension with a team option for a fifth additional season. The deal is worth $75.34 million, with the option season coming in at an additional $20 million.

"This is a banner day for the Tampa Bay Devil Rays organization," said General Manager Shaun Moriarty. "We've got the best pitcher in baseball, and he's going to stay here for quite some time, hopefully for the remainder of his career."

Martinez will earn $15.19 million in the upcoming 2003 season, with a $1 million bonus if he wins the Cy Young Award. He was set to become a free agent after the upcoming season and would likely have commanded a bidding war on the open market. He will earn $19.14 million in 2004, $18 million in 2005, $19 million in 2006, and $19.2 million in 2007.

The 31-year-old owns a 152-71 record with a 3.06 ERA and 2,331 strikeouts in his 11-year-career. Since signing with Tampa Bay as a free agent prior to the 1998 season, Martinez has posted a 90-34 record with a 2.90 ERA and 1,440 strikeouts.

05-21-2009, 11:54 AM	#300 (permalink)
Moriarty9 All Star Starter Join Date: Jun 2007 Location: Massachusetts Posts: 1,858 Thanks: 10 Thanked 3x in 3 posts	Martinez inks extension deal Devil Rays hold $20 M option for 2008 season November 22, 2002 ST. PETERSBURG, Fla. — The Tampa Bay Devil Rays made the biggest signing of the offseason, and it had nothing to do with a current free agent. The Devil Rays signed ace pitcher Pedro Martinez to a four-year contract extension with a team option for a fifth additional season. The deal is worth $75.34 million, with the option season coming in at an additional $20 million. "This is a banner day for the Tampa Bay Devil Rays organization," said General Manager Shaun Moriarty. "We've got the best pitcher in baseball, and he's going to stay here for quite some time, hopefully for the remainder of his career." Martinez will earn $15.19 million in the upcoming 2003 season, with a $1 million bonus if he wins the Cy Young Award. He was set to become a free agent after the upcoming season and would likely have commanded a bidding war on the open market. He will earn $19.14 million in 2004, $18 million in 2005, $19 million in 2006, and $19.2 million in 2007. The 31-year-old owns a 152-71 record with a 3.06 ERA and 2,331 strikeouts in his 11-year-career. Since signing with Tampa Bay as a free agent prior to the 1998 season, Martinez has posted a 90-34 record with a 2.90 ERA and 1,440 strikeouts.