Carpenter Signed through 2011, op. 2012 (Matthew Leach)

[Jocephus]

press release:

KISSIMMEE -- The World Champion St. Louis Cardinals today announced the signing of pitcher Chris Carpenter to a five-year contract extension. The renegotiation and contract agreement solidifies the 2005 Cy Young winner's stature as one of the game's elite pitchers and keeps him in St. Louis through the 2011 season with the Cardinals holding a club option for 2012.

Carpenter finished third in 2006 Cy Young Award balloting as he helped lead the Cardinals to their 10th World Championship and first in 24 years. He finished the season with a 15-8 record and 3.09 ERA and combined to go 3-1 with a 2.78 ERA in five postseason starts. Chris won two games in the Division Series against San Diego, including the series clincher in Game 4, and also pitched 8.0 shutout innings while earning the 5-0 win in Game 3 of the World Series versus Detroit.

"Chris is one of the elite pitchers in all of baseball," said Cardinals Chairman of the Board and General Partner William O. DeWitt. "In addition to becoming just the second Cardinal to win a Cy Young Award (2005), Chris has been the leader of our pitching staff and we are pleased that he will continue in that role for the next five seasons."

In his three seasons with the Cardinals, Carpenter is 51-18 with a 3.10 ERA in 93 starts. The Cardinals are 65-27 (.707) over this span in games that he starts. Chris' 36 wins over the last two seasons are tied for tops in the Majors (Garland, CWS) and his 51 wins since 2004 rank 3rd-best in baseball (55, Oswalt-HOU and Santana-MIN).

"Chris has been a centerpiece in our team's success since the day he arrived," said Cardinals Senior Vice President and General Manager Walt Jocketty. "We are very happy to have Chris under contract for the next five years and we expect him to continue serving as a cornerstone for our organization for many years to come."

The 31-year-old native of New Hampshire ranked first in the National League this season with a 1.81 ERA at home. He spun three shutouts at Busch Stadium, marking back-to-back seasons with three home shutouts - the first pitcher to do so since Roger Clemens in 1987 (4) and 1988 (3) for Boston. Overall, Chris is 23-10 with a 2.38 ERA in 47 career starts in St. Louis. Over his nine-year career, Chris has compiled a lifetime mark of 100-68 with a 4.09 ERA in 245 games pitched. He was named to the N.L. All-Star Team in 2005 & 2006, serving as the N.L. starter in '05.

here

[Transmogrified Tiger]

As for paying others when Edmonds and Izzy are gone, the possibility of those positions being filled by guys making the minimum are very high.

How do you figure that? And even if they are, odds are also very high the production from the minimum guys will be significantly less than their prior placeholders(mainly speaking about Edmonds here).

So never play younger kids when good vets retire. That's what you're saying, right?

Of course the production will be down. I don't understand that post at all.

What? Who said not to play young kids?

The original post implied that Carpenter's extension will be more manageable because Izzy and Edmonds will very likely be replaced by guys making the minimum. That's fine, but I'm saying that it's also very likely that those players will be worse, but because of Carpenter's extension the payroll flexibility gained by the drop in production is lost. I'm not saying to avoid young players, I'm saying that the flexibility from using them(which for a contending team is a very large part of their value) is lost in Carp's pay increase.

[beerman]

As for paying others when Edmonds and Izzy are gone, the possibility of those positions being filled by guys making the minimum are very high.

How do you figure that? And even if they are, odds are also very high the production from the minimum guys will be significantly less than their prior placeholders(mainly speaking about Edmonds here).

As long he is not traded we have a highly rated CF named Rasmus waiting to fill in in 2 years...things can happen but he is supposed to be as legit as they come.

[JL21]

the flexibility from using them(which for a contending team is a very large part of their value) is lost in Carp's pay increase.

That's a good point, TT.

This is not unlike how I felt after the Isringhausen extension, though on that one I was much, much more opposed.

[EastonBlues22]

He's gonna be getting some 12% of our budget, when he is 38.

There's no way to know that, really.

No, but there is a fairly reasonable way to estimate it. Frankly I'm being generous; it could easily be 15%.

Assuming only the modest payroll increase of 5 million per year, the Cards will be paying an average of 14% of their salary to Carpenter for his years age 34-36. The year after when he's 37, it's back down to ~10%.

That's reasonable. It's always a risk to extend a pitcher out that far, but he has less mileage on his arm than many his age, and we know he has the "stuff" and work ethic. He's a true difference maker, and on the open market right now he could get a lot more. On the open market in two years...I didn't even want to think about it. Now I don't have to.

I think this deal will be a good one for the Cards financially...the only way it won't is if Carp goes down. <knock on wood>

[jack76]

That's a pretty large extension for long time. However, I agree with many points here on the board:

-if anyone should get this contract, it should be Chris
-this is a good-will signing on both parties where the club and Chris take on risk
-it sets the bar for what we are willing to pay new signees

I wonder if this also signals some intention of how to run the club in the future. For the first time I can remember, I'm optimistic about our farm system. However, we're still 2-4 years on reaping the benefits of a productive draft. I wonder if this indicates management's intention to develop players from within and to keep them in the system.

[greenback44]

I don't mind them giving him more cash or extending it a few years. And frankly, looking out for him and giving him a better deal than the one he was signed to was the right thing to do. But extending it this long is an awfully risky thing to do.

That's why I love this news. The Cardinals plan on doing what it takes to contend for World Series for another five years. They aren't the Yankees, so they can't do that without taking risks. The potential reward here is substantial, which is exactly what I want from my baseball team. The profit margin, risk-adjusted return on capital, blah blah blah are all secondary.

[Secret Weapon]

Not me.

Now was the time, IMO.

I'm curious why you think it was a better idea to extend him this offseason, rather than next. Personally, I can't really think of any reasons why this year is better than next year. It's not like we got a steal extending him a year earlier, he got about market price.

[G. Keenan]

As for paying others when Edmonds and Izzy are gone, the possibility of those positions being filled by guys making the minimum are very high.

How do you figure that? And even if they are, odds are also very high the production from the minimum guys will be significantly less than their prior placeholders(mainly speaking about Edmonds here).

As long he is not traded we have a highly rated CF named Rasmus waiting to fill in in 2 years...things can happen but he is supposed to be as legit as they come.

While there is a lot of reason to be optimistic about Rasmus, I think we should wait and see what he does in AA before he gets "can't miss" status.

[HugeCardfan]

Seems to me that we will have Carp for five full seasons before we actually pay him what he's worth. I was on record for not doing anything until next year when he has only one year left on his old contract. But, given the itinerant nature of players today, I think inking Carpenter was the right thing to do.

By 2012 we may well be talking about a HOF career. What better place for him to spend the remainder of his career with a Birds on the Bats uniform. Would there be any doubt whose uniform he would be wearing at the induction?

The guy was a mainstay in bringing us the first WS ring in 24 years. He will be the cornerstone of our rotation for the next six years. His arm has proven reliable for three years now.

Should we have done it. Probably. Will we regret it? Maybe, but I doubt it. Will it be a bargain? It already has. Boston just paid $51 M strictly for the right to negotiate with Boras for a pitcher who I wouldn't trade Carp straight up for.... That's more than what we pay Carp for his three most expensive years of baseball.

It may be risky, but no more so that the $32 M that McGwire left on the table a few years back when he opted to walk away. I wouldn't be surprised, if Carp were to be injured severely, were he to negotiate out of the contract in some way that preserved the Cardinals ability to remain competitive. I am certain, on the other hand, that Carp will feel that he has been treated fairly and will be a great Cardinal for the duration of his playing days.