The Mets and star pitcher Johan Santana have agreed on a record deal to complete his trade to New York, sources said. The deal is pending a physical, which has been scheduled for Saturday.
According to sources, the deal is believed to be for $150.75 million total -- $137.5 for six years on top of the $13.35 million for 2008 his Twins contract called for. It is believed about $7 million of the new money will be paid as a signing bonus, bringing Santana's '08 take-home pay to about $20 million.
The Mets requested and received a two-hour extension beyond the original 5 p.m. EST deadline, a string sign things were coming to a conclusion. Santana is talking to Mets owner Jeff Wilpon in what might be the final stage of a drawn-hour, 74-hour negotiation.
The Mets announced that they had completed negotiations.
The Mets had been offering about $22 million a year. They had been trying to keep the deal to five guaranteed years, but in the end the deal will be for six years.
In addition, it is believed the Mets may add about $7 million to Santana's $13.25 million salary for 2008.
That expected new $20 million salary for '08, and the six additional years at $22 million, would bring Santana's total haul to $152 million. The previous record for a pitcher was Barry Zito's $126-million, seven-year deal signed last winter with the San Francisco Giants.
It is believed the players union has been pressing Santana's agents, Peter and Ed Greenberg, to beat the $150-million threshold, as Santana is setting the standard for pitchers and will likely affect the salaries of other top-of-the-line starters. The Mets, who originally hoped to keep the package to five additional years, have been hoping to keep the total compensation below $150 million.
Santana's Twins contract is set to run out after the '08 season, and the Mets needed to satisfy his financial requests to convince him to waive his full no-trade clause and agree to commit to the Mets on a multiyear basis. The Mets sent four prospects to the Twins for the right to negotiate with Santana: outfielder Carlos Gomez plus pitchers Kevin Mulvey, Phil Humber and Deolis Guerra.