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Carlos Zambrano Signs Five Year Extension with Cubs
Chicago Cubs pitcher Carlos Zambrano signed a five-year extension with the team, worth $91.5 million with a $5 million dollar signing bonus. He skipped the free agent market and signed with the Cubs, the only team he has played for in the majors. According to the deal, Zambrano has a full no-trade clause. He also has a few incentives. If he finishes first or second in Cy Young Award voting in 2011 or finishes in the top four in Cy Young balloting in 2012, he has the option for a sixth year at $19.25 million.
He will make $15 million next season; $17.75 million in 2009; $17,875,000 in 2010 and 2011; and $18 million in 2012.
The deal was supposed to be sooner, but the two parties waited until after the Tribune Co., the group that owned the team, sold the Cubs to Chicago real estate mogul Sam Zell for $8.2 billion
Zambrano signed a one year, $12.5 million deal before an arbitration hearing during spring training. The offseason was one of high-spending for the Cubs as they spent $300 million, including an eight-year, $136 million contract with outfielder Alfonso Soriano.
The two-time All-Star is currently 14-9 and has a 78-51 career record.
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