The mega deal between the Miami Marlins and Giancarlo Stanton is set to make the young slugger the highest-paid player in American sports.
CBSsports.com reported Monday that a deal is in place for a record $325 million over 13 years, citing sources close to the team. The announcement is expected at a Wednesday news conference at Marlins Park.
The Marlins have not confirmed the reports of a deal, but Jon Heyman of CBSsports.com quote team owner Jeffrey Loria saying, “We’re excited to look to the future with this exciting young man. He’s a wonderful kid … extremely bright,” Marlins owner Jeffrey Loria told CBSSports.com, which had earlier reported details of the deal.
“It’s great for the fans. It’s great for me. It’s great for the player. It’s great for baseball.”
Stanton attended the Miami-Florida State football game Saturday at Sun Life Stadium, declined comment to reporters who spoke to him on the sideline. His agent, Joel Wolfe, declined to comment in an email to the Sun Sentinel.
The deal is pending approval by the baseball commissioner’s office, according to ESPN.
It would surpass Miguel Cabrera’s $292 million, 10-year contract after signing an extension with the Detroit Tigers last March.
The contract will take Stanton, who turned 25 this month, through the prime of his career. He will have the option to opt out after five or six years, according to reports. He will also receive a no-trade clause, which the Marlins have been reluctant to give.
The reported terms of Stanton’s deal would not only be landmark in baseball but signal a bold new direction for the budget-conscious Marlins, who have been known for trading away their young star rather than award premium contracts. Cabrera, who helped them win the World Series as a rookie in 2003, was a recent example.
The total of Stanton’s deal, if correct, would be more than twice as much as owner Jeffrey Loria paid to purchase the team in 2002. Forbes magazine valued the club at $500 million this past March.
Reports of a possible deal with Stanton in excess of $300 million and spanning at least 10 years began circulating last week just before he was the runner-up for National League Most Valuable Player.
The right-fielder led the National League in home runs with 37 this past season.
Stanton has received an impressive array of honors for his performance in 2014, notably the Hank Aaron Award as the best overall offensive performer in the NL, the Players Choice Award as the league’s outstanding player and his first Silver Slugger award as the best hitter at his position. Testament to his all-around contributions, he was a finalist for the Gold Glove in right field.