ESPN The Magazine's Buster Olney reports that Carmona's contract is potentially worth $43 million over seven years, with the first four years guaranteed for $15 million total . . .According to Rosenthal, the option years total $32.25M, making the whole deal worth $47.25M if the Indians exercise all three.
. . . The contract is guaranteed through 2011 with club options for 2012, 2013 and 2014. The team will formally announce the extension at a 3 p.m. ET news conference.
This is a tremendous deal for the Indians. Even if Carmona flames out, that $15M doesn't represent all that much more than they'd have to pay him for that time anyway (and if it's an injury-flameout, a healthy portion of that will be covered by insurance). In all likelihood, however, it is far, far less than they'd have to pay him, as even a merely above average couple of years for Fausto will result in eight figure arbitration awards or close to it.
But if Carmona is not a bust? If he builds on last year's success and continues to be a stud? Then the Indians have about the biggest bargain in baseball: an ace who would otherwise be eligible for free agency locked in for less than $11M per. Not only that, but one who would bring in an outrageously good haul in a trade in the unlikely event the Indians craterd for some unforeseen reason and needed to start over.