July 8, 2012; New York, NY, USA; Chicago Cubs batter Starlin Castro (13) watches his three-run home run during the seventh inning of a game against the New York Mets at Citi Field. Mandatory Credit: Brad Penner-US PRESSWIRE
According to Enrique Rojas of ESPN Deportes, the Chicago Cubs and shortstop Starlin Castro have agreed to a seven-year, $60 million contract extension. David Kaplan of CSN Chicago was first to report the two sides had engaged in talks regarding a long-term extension.
The deal will buyout four years of Castro's arbitration years and his first three years of free agency. There is also a $16 million option for 2020, which would raise the contract's total value to $76 million if exercised.
To me, the deal is a no-brainer for the Cubs even though they are guaranteeing the budding star a huge amount of money. But if Castro can continue to develop and reach his potential, this deal could potentially be a huge bargain for Chicago.
On the other hand, it also makes a ton of sense for Castro to get locked up and forfeit a few of his free agency years. Anyone as young as he is are looking to minimize their risk long-term and get locked up for a deal that makes sense.
Castro's extension makes him one of the more notable rising stars to get locked up with the only team he knows of. We saw a few young left-handed starting pitchers get locked up earlier in the year, with Madison Bumgarner and Matt Moore each agreeing to five-year contract extensions with their respective teams.