Colorado Rockies, Nolan Arenado finalizing contract extension
According to Jeff Passan of ESPN, the Colorado Rockies and third baseman Nolan Arenado are finalizing a contract extension that would potentially keep him in Denver for a very long time.
Jeff Passan of ESPN is reporting that the Colorado Rockies and Nolan Arenado are finalizing a contract extension for 8 years and $260 million, or an average annual value just over $32 million. This deal would give Arenado the largest contract (based on average annual value) in MLB history. The deal also includes an opt-out clause after 3 seasons, which would be Arenado’s age-30 season.
Passan notes that if the full length of the contract is fulfilled, the deal will run through 2026. Also, the 8th year on the deal and the record-breaking average annual value on the salary was how the deal got done.
He also reports that the deal has a full no-trade clause.
Ken Rosenthal of The Athletic reports that the deal will override his 2019 contract so, essentially, it is a seven year extension after this season. He also notes that it is a deal for $260 million, unlike Passan, who originally reported $255 million.
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If the deal does get confirmed, it will be a huge coup for the Rockies and their fans as they will be able to keep their franchise player for, potentially, the bulk of his career.
A lot of people, including myself, were skeptical of a deal getting done considering the amount of money that the Rockies have invested in free agents and other contract extensions, including Charlie Blackmon, Ian Desmond, Wade Davis, Jake McGee, Bryan Shaw, and Mike Dunn. Combined, those five players have contracts well north of $200 million.
However, as our own Jake Shapiro noted in this article in December, the Rockies are going to get a new TV contract after the 2020 season and how a new deal could help pay for Arenado. As it looks right now, you would have to believe that this is part of the reason why a deal has come together.
But right now, it is time to enjoy one of the best talents in this generation staying in a Rockies uniform for the foreseeable future.