News / Sports
Barry Zito Signs $126 Million Contract with San Francisco Giants.
The San Francisco Giants added left handed ace Barry Zito to their rotation today in a seven-year deal valued at $126 million. The signed agreement is the largest contract ever awarded to a pitcher.
Coming off a 16-10 record last season with the Oakland Athletics, the 28-year-old Zito has established a career record of 102-63 with a 3.55 ERA. He won the 2002 AL Cy Young Award.
Zito’s agreement includes an option for 2014 that is valued at $18 million with a $7 million buyout. The option is guaranteed if Zito can pitch at least 200 innings in 2013 or if he pitches a combined 400 innings over the 2012 and 2013 seasons. If Zito is able to pitch 600 innings from 2011-13 his option would be ensured as well. He is scheduled to take a physical on Friday
With the departure of Jason Schmidt, Zito should fill the role as the Giants new number one.
Considered by many to be the top free agent pitcher in the off-season, Zito was courted by the Texas Rangers, New York Yankees, New York Mets, and Seattle Mariners. Most of the teams pursuing Zito balked at the idea of risking long term contract. The memory of Mike Hampton’s eight-year deal worth $121 million is still fresh in the minds of team owners.
It is Hampton’s contract that Zito eclipses to earn the highest contract ever signed by a pitcher.
