Candelario receives a $3 million signing bonus as part of a $45 million, three-year deal with the Reds
Third baseman Jeimer Candelario gets a $3 million signing bonus as part of his $45 million, three-year contract with the Cincinnati Reds, a deal that includes a 2027 team option and could be worth $60 million over four seasons.
Candelario has salaries of $12 million this year, $15 million in 2025 and $12 million in 2026, and the Reds have an $18 million option for 2027 with a $3 million buyout.
As part of the agreement announced Dec. 12, Candelario will donate 1% of his salary each season to the team charity.
Candelario played for Washington and the Chicago Cubs last year, batting .251 with 22 homers and 70 RBIs in 140 games. The switch-hitter also had 39 doubles.
A New York City native who turned 30 on Nov. 24, Candelario can play first and third base. He also could be part of Cincinnati´s lineup as a designated hitter.
Right-hander Frankie Montas, whose $16 million, one-year contract was announced Tuesday, can earn an additional $300,000 in performance bonuses for starts: $100,000 each for 18, 20 and 22. Montas has a $14 million salary this year, and his deal includes a $20 million mutual option for 2025 with a $2 million buyout.
He would get $100,000 bonuses for making the All-Star team, winning a Gold Glove or Comeback Player of the Year, or for World Series or League Championship Series MVP. He would get $250,000 for winning the Cy Young Award or MVP, $150,000 for finishing second or third, and $100,000 for fourth or fifth.
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Why Frankie Montas’ contract with the Reds is less risky than Nick Martinez’s deal
Both Frankie Montas and Nick Martinez could be with the Reds beyond the 2024 season.
Frankie Montas is officially a member of the Cincinnati Reds. The team announced today that Montas has a agreed to a one-year/$14-million contract with the Reds that includes a mutual-option for 2025 and a $2-million buyout.
The Reds are hopeful that Montas returns to the pitcher he was back in 2021. The right-hander went 13-9 that year with the Oakland Athletics and posted a 3.37 ERA in 32 starts. This past season, however, Montas suffered a shoulder injury prior to Opening Day and appeared in just one game for the New York Yankees before entering free agency.
Nick Martinez signed a similar, yet different, deal this with the Reds. Though Montas’ signing comes with some measure of risk due to his injury history, the contract itself is much more team-friendly that the deal that Martinez earlier this offseason.
Frankie Montas’ contract with the Reds is less risky than Nick Martinez’s deal
Frankie Montas’ new contract will effectively cost the Cincinnati Reds at least $16 million. The Redlegs will pay Montas $14 million for his services in 2024 and there’s a $20-million mutual-option for 2025 with a $2-million buyout.
Nick Martinez’s signed a two-year/$26-million contract with Cincinnati earlier this offseason, but the right-hander’s contract contains an opt out after the upcoming season. According to Spotrac, Martinez’s contract is worth $14 million in 2024 and another $12 million in 2025.
There is risk in signing both Montas and Martinez, but the Reds gave themselves an out with the former. If Montas underperforms in 2024, Cincinnati can decline the mutual-option, pay the 30-year-old $2 million, and not carry over his $20-million salary into 2025
However, if Montas regains his pre-injury form, Cincinnati could pick up their end of the option and hope that the former A’s starter does the same. At worst, the Reds could attach a Qualifying Offer to Montas and ensure themselves some level of draft compensation.
The same cannot be said for Nick Martinez. If the former San Diego Padres hurler doesn’t meet expectations in 2024, he can simply remain with the ball club heading into the following season. Cincinnati would then be on the hook for his $12-million salary.
Martinez, if he proves unable to hold down some semblance of a role in the starting rotation, becomes a very expensive reliever. There aren’t many relievers, who aren’t closers, taking home eight figures per season.
While some may disagree, seeing both pitchers enter free agency next season would be the best case scenario. Why? Because if Frankie Montas and Nick Martinez play well enough to re-enter the free agent market next winter, the Cincinnati Reds would’ve likely posted a winning record and participated in the MLB Postseason.
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