Hunter Greene, a rising star in the Cincinnati rotation, has received a lavish six-year contract … [+]
The normally frugal Cincinnati Reds have given the green light to their top pitcher.
The team gave Hunter Greene a new six-year contract that could carry through the 2029 season if a club option is exercised.
Greene, 23, is a fire-balling right-hander whose fastball sometimes reaches triple digits. But he has struggled since reaching the major leagues in 2022.
He made 22 starts that season, his first since returning from Tommy John elbow surgery. He has a 4.24 ERA through four starts this year but has been much more effective at keeping the ball in the park.
The second pick in the 2017 amateur draft, Greene forms a young and talented 1-2 punch with fellow righty Nick Lodolo, one of this year’s top surprises, at the top of the Cincinnati rotation.
Financial terms of the Greene extension include a $2 million signing bonus, $1 million salary for this season, then gradual increases: $3 million in 2024, $6 million in 2025, $8 million in 2026, $15 million in 2027, $16 million in 2028, potentially followed by the $21 million club option or a $2 million buyout in 2029.
The pact promises the pitcher $53 million in guaranteed money but could be worth $96.2 million if incentives and awards are realized. Greene’s guarantee is the second-largest for a pitcher with 1-2 years of MLB service time, trailing only the six-year, $75 million contract Spencer Strider received from the Braves last fall.
His new deal buys out Greene’s final two pre-arbitration seasons, all three of his arbitration years and at least one free-agent year and perhaps two.
Without the new deal, the 6-5, 242-pound pitcher would have qualified for salary arbitration after next season and free agency after 2027.
Even if the team exercises its club option, Greene could still test free agency before he turns 30.
Under his new contract, Hunter Greene could stay in Cincinnati through his age-29 campaign. (AP … [+]
The Greene signing suggests Cincinnati may be on the verge of extending such young core players as Jonathan India, Lodolo, and Graham Ashcraft.
No one on the Reds’ roster has a contract guaranteed after the 2023 campaign, with buyouts possible for such veterans as Joey Votto and Wil Myers, the team’s top-paid players. Votto, 39, will earn $25 million this season.
The Reds ranked 26th among the 30 teams with an Opening Day payroll of $82,890,000, according to Cot’s Contracts.
Cincinnati hasn’t done much better in the standings. Its 62-100 record last year tied Pittsburgh for the worst mark in the National League Central. Both clubs finished 31 games out of first place.
The Reds, still struggling, lost 10 of their first 17 this season but hope to improve as their talented young pitchers gain experience.
Source: https://www.forbes.com/sites/danschlossberg/2023/04/19/reds-give-greene-new-deal-with-potential-value-of-962-million/