Huston Street is off of the trade market and in the Padres' long-term plans. The team agreed to sign the 28-year-old right-hander to a two-year extension that includes a club option for 2015. The contract between the Padres and the Hendricks Sports client will be worth $14MM and the '15 option will be valued at $7MM, MLB.com's Corey Brock reports.
“Huston is an established closer and has proven to be a valuable leader and teammate,” GM Josh Byrnes said in a press release. “We are very excited to have him be part of this organization going forward.”
The Padres worked to lock Street up this week and were prepared to trade him if an extension didn't seem possible. Street's previous contract included a $9MM mutual option for 2013 ($500K buyout). He would have been a free agent following the 2012 season unless both sides had exercised the option.
Street has a 0.91 ERA with 11.8 K/9, 2.4 BB/9 and a 40% ground ball rate in 29 2/3 innings for the Padres this year. He has a 2.97 ERA with 9.3 K/9, 2.3 BB/9 and a 38.1% ground ball rate in eight seasons with the Athletics, Rockies and Padres.
Street earns $7MM per season in 2013-14 and there's no buyout on the 2015 option, ESPN.com's Buster Olney reports (on Twitter). His $7MM salary will now represent a substantial portion of the Padres' payroll — $55.6MM entering the 2012 season.
This marks the second time in eight days that Byrnes has signed a potential trade candidate to a multiyear extension. The Padres agreed to sign Carlos Quentin to a three-year, $30MM extension one week ago today. Street, Quentin and Cameron Maybin now represent the Padres' largest financial commitments for 2013 and beyond.
Photo courtesy of US Presswire.
“We’re a couple years from winning, we play in a stadium that makes relievers look better than they actually are so we can flip them, and we have a famous reliever pitching way over anything he’s done in years. You know what that means.”
“We should extend him for two years?”
“Precisely.”
We haven’t seen the entire terms of the contract yet, but right now I don’t see anything in there that says No Trade clause. This could make him even more appealing to any team in the need for a quality closer at a reasonable price.
Will the Padres trade him? Probably not, but it’s a reasonable contract for what he’s done this year.
With Papelbon pulling in $50M/4 years and Bell pulling in $27M/3 years, I’m actually surprised it wasn’t more like $8.5M per year.
You mention our park making him better, but you’re failing to realize that he played in the other extreme for the last 3 years (Coors). Look at his career road numbers and you’ll see that he’s been very good. He’s averaging over 60 innings a season, so I’m not sure how far your injury prone argument goes. His injuries never seem to be significant. I for one am ecstatic that we got the 28, soon to be 29, not 30, year old Street and signed him for 2/14 with a 7M option rather than the 34, soon to be 35, year old Heath Bell for 3/27 with a 9M option. Street is younger, better, and cheaper.
Great sign.
A couple of years feom winning? How then do the Padres have a winning record since June 1st with ohlendorf, kip wells, and marquis pitching 3/5 of the starts? This is just like 2009 with a lead into 2010 where they won 90 games. The difference is, IMO, there is a better core of talent now than 2010. Plus they are showing a willingness to hold onto their talent. Once guys like Luebke, stauffer, Bass, and Cashner return from injury this is going to a team that nobody wants to play.
You’re hanging hopes on guys like Stauffer? You should be hanging hopes on their prospects.
The past 46 games (1/2 of the season) the Padres have the best record in the NL West. They get back some pitching and could be a team contending in the NL West in 2013
The Padres have a good plan in place, with tons of young talent on the way. Giving a relief pitcher and an injury-prone 30-year old outfielder big boy money seems out of touch with that plan.
A team of rookies isn’t going to go anywhere. You have to have that guy in your lineup that opposing pitchers are afraid of. Quentin is one of those guys and you have to have a guy to shut the door. Street is that guy and he’s as good a closer as any IMO. He strikes out more than 1 per inning, doesn’t give up many hits, doesn’t walk many, and limits HR. What more can you ask for in your closer?
To have been elite before getting to Petco?
And no, a team full of rookies probably isn’t going anywhere. But those rookies will still be the core of talent, and by the time they’re ready, Quentin’s body could well have fallen apart completely.
If he continues to pitch like he has this season, this is a great signing by the Padres.
If he continues to have an ERA under 1?
Yep. He’ll be earning about the same as Nathan so it’s not extraordinary.
But the Rangers are a big-budget team who’s window to win is right now. The Padres have a lower payroll and are a couple years away. Relievers are the last thing you spend big money on.
Even aside from the fact that he’s not actually going to keep pitching like this.
Are you begging the Padres to have the lowest payroll in baseball again next year? This is a very reasonable contract extension for a very good reliever.
I don’t think any team that’s not in win-now mode should be paying a reliever $7m/year.
The Padres are a good young team and have extended 5 players in Luebke, Hundley, Maybin, Quentin and Street.
Their payroll for next season if they resign their arbitration eligible players will stand at nearly $70 million.
They have a new ownership group coming in that has given the ok to resign Quentin and Street.
What makes you think they are not in a win now mode?
The Padres have been amazing at developing bullpen pitchers. This has helped both in terms of winning, and also in trades to bring back guys like Maybin, Wieland, Robbie Erlin, Amarista and Roach among others. So what have they done to make them so successful?
I argue that having a solid closer has made a lot of difference. With Heath Bell and Hoffy back there the youngins could both get veteran leadership and spend a year or so developing in less pressure packed situations (6th inning type situations) to build confidence. Street will provide the same back end stability and leadership while we try to develop people like Brach, Mikolas, Boxberger, and others.
So the Padres are awful and they think the best way to help their team in the future is to sign aging, injury-prone veterans who are past their prime to multi-year contracts? Ok then San Diego….
What makes Quentin/Street pas their prime? I don’t like what the extension means for Street, Byrnes is putting all of his credibility on the 2013 season and they still need help in offseason, but padres have been playing well since Grandal got called up. Hopefully Gyorko is next and they play him at second (while keeping Headley the best player on team), the key is for the starters to get healthy by next year.
By the end of this year, he’ll have around 215 saves or so and he’ll be 29 at the start of 2013. With an ERA under 3 and an ERA+ of almost 150 for his career, if he continues at this pace, how long until he gets Hall of Fame consideration? He doesn’t rely on high-90s velocity that will blow his arm out. If he saved 30 games per season for the next 10 years, that would be 515 or so saves. If he averaged 40, it would be 615. He could still get into the Hall of Fame before the next Bill James-invented statistic is accepted by voters.
The cost of this contract is right on par with Streets value. The Padres are paying based on his career norms, not based on this season. If they paid him based on this season they would have ponied up about $10 mil per year. This is not a bad signing
Hmmm. While I wasn’t exactly hoping for a Street extension, it’s not exceptionally egregious, basically the AAV they were planning for Bell if I recall. And though I don’t see the Padres trading Street, his contract would be one others would be ecstatic for, provided his numbers stay around their career norms.
Now do I have to beg for a Headley extension?
Street left at least $10 mil on the table. That combined with the team friendly extension for Quentin…and yes, the San Diego Discount lives on.
Agreed. Huge discount. And no buyout on the option! Wow.