Burnett guaranteed $22.5M over 2 years by Phillies
CLEARWATER, Fla. – A.J. Burnett and the Philadelphia Phillies have completed a contract that guarantees the pitcher $15 million for 2014 and $22.5 million over two seasons.
Under the deal finalized Sunday, Burnett would make $33.5 million over two seasons if he makes 30 starts or more in both years.
Burnett revived his career with Pittsburgh the last two seasons, pitching to a 3.31 ERA and winning 26 games.
He gets a $7.5 million signing bonus, of which $1 million is payable Dec. 15, $2.75 million next Jan. 15 and $3.75 million on June 30, 2015.
The 37-year-old right-hander has a $7.5 million salary this season, and the contract includes a $15 million option for 2015 with a $1 million buyout. Burnett would receive the buyout only if either party declines and he fails to make 30 starts this year.
If the mutual option isn’t exercised, Burnett would have a $7.5 million player option for 2015. The option price would increase to $8.5 million with 24 starts this year, $10 million with 27, $11.75 million with 30 and $12.75 million with 32.
He can earn an additional $1.75 million annually in performance bonuses: $500,000 each for 24 and 27 starts, and $750,000 for 30.