I have no doubt in my mind this will drag on until 5:00 tomorrow.
It will get done - this is just the art of negotiations. There is a TON to discuss. Take a look at Beltrans contact for example:
signed 7-year deal worth 119M on 1/11/05 - he receives an 11M signing bonus: 5M paid as soon as the commissioner’s office formally approves the contract and the the other 6M in installments of 2M on June 15, 2005, Jan. 15, 2006 and Jan. 15, 2007 (w/ no taxes applied) - + he receives salaries of 10M in 2005, 12M in both 2006 and 2007 and 18.5M in 2008, 2009, 2010 and 2011 - + 8.5M each year in 2008, 2009, 2010 and 2011 is deferred at 1.7175% compounded interest - + the 22M in deferred salary will be paid out over the 7 years after the contract expires: installments of $3,142,857 each July 1st starting in 2012 with the last being on July 1st, 2018 - + he can earn award bonuses: 500K for MVP award and 1M for a second MVP then 1.5M for third and all MVP awards thereafter; 200K for 2nd thru 5th place MVP voting finish; 100K for an All-Star selection; 100K for receiving the most All-Star votes in the league; 100K for being named a Postseason All-Star or player of the year; 250K for WS MVP; 150K for LCS MVP; 100K per Gold Glove and 100K per Silver Slugger; 100K for Hank Aaron Award - + bonuses he has earned: 100K for 2005 All-Star selection, $100K for 2006 Gold Glove, $100K for 2006 silver slugger, $200K for 2006 NL MVP fourth place finish, $100K for 2007 All-Star - + the deal includes a full No-Trade clause - + he receives a personal pitching machine from the team - + some traveling costs for his family is paid by the team - + he receives the best available 15-person luxury suite at all home games, including the post-season, though he must pay for post-season tickets - + he receives a Hotel Suite when on the road - + the team will lease him a conditioned ocular (eye) enhancer machine (a device that throws colored, numbered tennis balls to batters at 150 mph or faster) - + will contribute 150K annually to a charity of his choice and 150K annually to charity of club’s choice - + the team has agreed not to offer him arbitration when he becomes a Free Agent after the contract expires in 2011 (meaning the team must decide whether or not to re-sign him by Dec. 7th, 2011) - + the Player’s Association values the deal at $115,726,946, using a 6 percent discount rate (the prime rate plus 1 percent, rounded to the nearest whole number) and MLB values the deal at $116,695,898 for the purposes of the luxury tax, which currently uses a 3.62 percent discount rate
Agent: Scott Boras