/cloudfront-us-east-1.images.arcpublishing.com/tbt/VB2QW7T2TFHMBIPSGW2MRDNA34.JPG "Jeffrey Springs got a new deal this week, with incentives and award bonuses that could potentially boost his pay.")
ST. PETERSBURG — The contracts the Rays signed pitchers Jeffrey Springs and Pete Fairbanks to provide hefty guarantees, Springs getting $31 million over four years and Fairbanks $12 million over three.
Both give the players the chance to more than double their earnings through a series of incentive and escalator clauses, but they will require extraordinary performances to max out the total potential values.
Springs, for example, would have to win four consecutive Cy Young awards, among other things, to get the full $65.75 million. Fairbanks would have to be named the league’s top reliever four times to get his full $24.6 million.
Here are the details:
Jeffrey Springs
/cloudfront-us-east-1.images.arcpublishing.com/tbt/4FM5TPICX5CPDB6H227GAJ4EBM.JPG "If Jeffrey Springs has top-10 showings in Cy Young voting, he could rake in more money.")
Salaries, in millions:
2023: $4M
2024: $5.25M
2025: $10.5 M
2026: 10.5 M
2027: $15M or $750,000 buyout
Incentives:
Base salary in both 2025 and 2026 increases based on total innings pitched in 2023-24:
By $1.5M for 300 innings
and by $1M for 325 innings
and by $750,000 for 350 innings
and by $500,000 for 375 innings
Award escalators:
Base salary for both 2025 and 2026 increases based on Cy Young Award voting finishes in 2023-24:
By $2M for first place
By $1.5M for second-fifth place
By $250,000 for sixth-10th place
Base salary for 2027 option increases based on Cy Young Award voting finishes in 2025-26:
By $2.5M for first place
By $2M for second-fifth place
By $500,000 for sixth-10th place
Pete Fairbanks
/cloudfront-us-east-1.images.arcpublishing.com/tbt/N4FWCR52PZHCVEFMRPIJFNIUQQ.JPG "The more games Pete Fairbanks appears in, and finishes, could increase his base salary.")
Salaries:
2023: $3,666,666
2024: $3,666,667
2025: $3,666,667
2026: $7M or $1M buyout
Incentives:
Base salary in 2024 increases based on games finished in 2023:
By $150,000 for 35 games finished
And by $150,000 for 40 games finished
Base salary in 2025 increases based on games finished in 2024:
By $150,000 for 35 games finished
And by $150,000 for 40 games finished
Base salary for 2026 option increases by a maximum of $4 million based on several factors:
Games finished in 2025 season:
By $500,000 for 25 games finished
And by $500,000 for 30 games finished
And by $500,000 for 35 games finished
And by $500,000 for 40 games finished
Appearances in 2025 season:
By $1M for 60 appearances
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Explore all your optionsAnd by $1M for 70 appearances
Total appearances in 2023-25:
By $500,000 for 125 appearances
And by $1M for 135 appearances
And by $1M for 150 appearances
And by $1M for 165 appearances
Award bonuses:
Bonus in each year 2023-26 based on finish in Mariano Rivera (AL) and Trevor Hoffman (NL) Reliever of the Year awards:
$500,000 for first place
$200,000 for second or third place
• • •
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