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Nov
17

Is Zack Greinke being underpaid for his 2009 Cy Young Award?

By Allan

Kansas City Royals starting pitcher, Zack Greinke, won the 2009 American League Cy Young for his 16-8 record, 2.16 ERA and 242 strikeouts .  The Royals luckily signed Greinke to a long-term deal before the 2009 season at 4 years, $38 million through 2012.  He’ll make a $100,000 bonus for winning the Cy Young.  Let’s take a look at the past few winners of the American League Cy Young and see how their salaries compare.

Year Player, Team Bonus Salary when winning C.Y. Salary 1 year later Salary 2 years later % of salary increase
2009 Zack Greinke, Royals $100,000 $3.75M $7.25M $13.5M 360%
2008 Cliff Lee, Indians $250,000 $3.75M $5.75M $8.0M 213%
2007 C.C. Sabathia,Indians $250,000 $8.75M $11.0M $14.0M 160%
2006 Johan Santana, Twins $100,000 $9.0M $12.0M $13.25M 147%

Santana and Sabathia each signed a new contract 1-2 seasons after winning their Cy Young.  They earned an approximate 150% salary increase for the first year of their new contract.  Lee’s was already in a 4 year, $15 million deal with an $8 million team option for 2010.  His salary increase was already negotiated beforehand.  You can expect Lee’s agent to ask at least $14 million for the first year in his next long-term contract to be comparable with Sabathia’s deal.  Greinke’s contract was already in place and based on these numbers he’s earning what a top MLB pitcher should be making.

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