Carlos Correa has landed with a new team, on an enormous contract.
The free-agent superstar shortstop has signed a 13-year, $350 million deal with the San Francisco Giants. ESPN’s Jeff Passan was the first to report the news late on Tuesday night.
BREAKING: Shortstop Carlos Correa and the San Francisco Giants are in agreement on a 13-year, $350 million contract, a source familiar with the deal tells ESPN.
— Jeff Passan (@JeffPassan) December 14, 2022
While the 13 years and $350 million may stand out as crazy numbers, it”only” results in $26.9 million per year. The length of the deal drove down the Average Annual Value (AAV); Correa chose the years and security, and the Giants gave themselves more flexibility in terms of dealing with the Luxury Tax Threshold. On, say, an eight or nine-year deal, Correa’s contract would’ve been well over $30 million/year.
$26.9 AAV.
Basically the cost of two back-end starting pitchers each year on a roster. Which would you rather have for the next 13 years?
— Matt Clapp (@TheBlogfines) December 14, 2022
Correa was one of the top free-agents available in this year’s class; many evaluators would have him behind only Aaron Judge (who re-signed with the New York Yankees on a nine-year, $360 million deal).
The 28-year-old is an excellent hitter that also happens to be an excellent defender at the premium position of shortstop. While his defensive metrics dipped with the Minnesota Twins in 2021, he’s one year removed from leading all qualified MLB defenders in defensive runs saved (DRS) with 20. And while he may not be a shortstop on the back half of this deal (maybe even sooner), he should have no problem being a great third baseman or second baseman throughout the contract.
The bat really helps him maintain that value too. In 2022, Correa produced a .291/.366/.467 slash line with a 140 wRC+. He’s a career .836 OPS hitter with a 130 wRC+; these are terrific numbers, especially from a high-quality shortstop. Blend these skills together, and that’s how Correa combined to be worth 12.6 wins above replacement (WAR) over 2021-22, according to Baseball Reference.
Correa left the Houston Astros to sign a three-year deal for $105.3 million with the Twins last offseason, but he exercised his ability to opt out of the contract this winter.
This is a huge swing for a Giants team that also tried very hard to sign Judge, and keeps them in the mix to try to compete with the Los Angeles Dodgers and San Diego Padres in the NL West.
Meanwhile, teams like the Twins and Chicago Cubs missed the opportunity to add a star, and with shortstops Trea Turner and Xander Bogaerts already off the market. Even the New York Mets emerged as an apparent suitor for Correa shortly before he chose the Giants.
Dansby Swanson is the last of the “big four” still out there, but he also doesn’t bring the same offensive ability — or certainty — as the other three shortstops.
Dansby Swanson looks to be in excellent shape coming off his breakout season. Cubs are in on him, and at least the Dodgers, Twins, Red Sox look like potential options. Probably others, too. Terrific snd clutch player.
— Jon Heyman (@JonHeyman) December 14, 2022
Here’s a look at how the baseball world is reacting to the Giants signing Correa:
“With the Carlos Correa deal, Giants have guaranteed more than $463 million over the past month. Their previous high for an offseason was about $250 million,” tweeted Alex Pavlovic of NBC Sports Bay Area.
With the Carlos Correa deal, Giants have guaranteed more than $463 million over the past month. Their previous high for an offseason was about $250 million (Cueto, Samardzija, Span).
— Alex Pavlovic (@PavlovicNBCS) December 14, 2022
“In the history of baseball, two players have gotten 13-year deals. Carlos Correa and Bryce Harper. The Giants tried for both,” tweeted John Shea of the San Francisco Chronicle.
In the history of baseball, two players have gotten 13-year deals. Carlos Correa and Bryce Harper. The Giants tried for both.
— John Shea (@JohnSheaHey) December 14, 2022
“Dodgers fans will have another reason to boo Carlos Correa,” tweeted Bill Shaikin of the Los Angeles Times.
Dodgers fans will have another reason to boo Carlos Correa. https://t.co/gLItoapnYV
— Bill Shaikin (@BillShaikin) December 14, 2022
“The Astros offered Carlos Correa a five-year, $160 million contract at the end of the 2021 season. He ended up getting 14 years and $395 million guaranteed between the Twins and Giants,” tweeted Chandler Rome of the Houston Chronicle.
https://twitter.com/Chandler_Rome/status/1602892842585702400
“Well, at this point I think we have no reason to conclude anything other than the fact that the reason the Cubs weren’t written in Correa articles in recent days is because they weren’t a serious finalist. Which, is very simply, complete and utter mismanagement,” tweeted Bryan Smith of Bleacher Nation.
Well, at this point I think we have no reason to conclude anything other than the fact that the reason the Cubs weren't written in Correa articles in recent days is because they weren't a serious finalist. Which is, very simply, compete and utter mismanagement.
— Cubs Prospects – Bryan Smith (@cubprospects) December 14, 2022
“How will you remember Carlos Correa’s two hours as a New York Met,” tweeted Jacob Resnick of MLB Pipeline.
How will you remember Carlos Correa's two hours as a New York Met?
— Jacob Resnick (@Jacob_Resnick) December 14, 2022
And, “Congratulations to Carlos Correa for getting enough money to afford a decent townhouse in San Francisco,” tweeted Brandon Warne of Access Twins.
Congratulations to Carlos Correa for getting enough money to afford a decent townhouse in San Francisco.
— Brandon Warne (@Brandon_Warne) December 14, 2022
