I have found two nice posts about the Soriano financials.

  • Suite Deal: Soriano’s filled with perks – AP
  • Present Value – The Hardball Times

    Here are the highlights from both for those that are link lazy.

    Soriano’s deal gives him a complete no-trade provision and guarantees a suite on Cubs road trips, according to contract information obtained by The Associated Press. In addition, Soriano is guaranteed six premium tickets for each home game during spring training, regular season and the postseason — and for the All-Star game if he is selected.

    Soriano receives an $8 million signing bonus and will get a $9 million salary next season. His salary increases to $13 million in 2008 and $16 million in 2009, then goes up to $18 million from 2010-2014. Soriano, who turns 31 in January, will be 38 in the final year of the deal.

    There are also plenty of incentives for the five-time All-Star, who will be the Cubs leadoff hitter. He gets $250,000 for collecting most All Star votes, $350,000 if he is selected the World Series MVP, $250,000 for the league championship series MVP, $300,000 for the MVP award and $75,000 for a Gold Glove.

    As another provision, Soriano will donate $25,000 annually to United Way and $25,000 annually to Cubs Care foundation.

    Many complaints about Soriano’s contract have focused on the fact that he received more dollars than Carlos Beltran did two years ago, despite not being nearly as good a player. Well, in fact, this is wrong. If we translate Beltran’s deal into 2007 dollars, Beltran got $110 million, $10 million more than Soriano, for one less year. In present day value, Beltran is being paid $3 million more per year.

    But that presents us with two questions: Is Beltran worth $3 million more per year than Soriano, and is Soriano worth $12.5 million a year? Well, according to my calculations, Soriano has an established performance level of about 3.0 wins above replacement; Beltran had an established performance level of about 3.4 when he was signed. In that case, Soriano is being paid a little over $4 million per marginal win, while Beltran got paid $7.5 million per marginal win over Soriano. On the other hand, Beltran has blown away his previous established performance level, and is now at about 4.4 wins above replacement, which translates to just over two million dollars per marginal win over Soriano.

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    Joe Aiello is the founder of View From the Bleachers and one of the lead writers as well as host of VFTB Radio. Growing up in Chicago, he fondly remembers attending games in the bleachers before that was the popular thing to do. Currently Joe resides in North Carolina with his wife and three kids. Connect with Joe via Twitter / Facebook / E-mail