A record-shattering $140 million deal reveals the Pittsburgh Pirates' gamble on phenom Konnor Griffin.
Bob Nutting doesn’t just go around handing out $140-million contracts to players as the owner of the Pittsburgh Pirates.
Until Wednesday, left fielder Bryan Reynolds held the franchise's richest contract—eight years, $106.75 million. But rookie shortstop Konnor Griffin topped it, signing a nine-year, $140 million contract before the Pirates lost 8-2 to the visiting San Diego Padres at PNC Park.
Reynolds had proven he could play at the major league level when he signed, having already started in one All-Star Game. Conversely, Griffin is just 19 years old and made his major-league debut last Friday.
Griffin was the Minor League Player of the Year last season and is considered baseball’s top prospect. Nevertheless, it is a bit of a leap of faith for the historically frugal Pirates to enter this kind of contract.
So why did Pittsburgh do it? What convinced the fiscally conservative Bob Nutting to willingly let Griffin put pen to paper?
Nutting explained his reasoning during the press conference that accompanied the signing.
“I think it was really clear to the organization, to our baseball ops team, to the development team, to the scouting team,” Nutting said. “It's an army of people who took time to understand not only the player, but the person. And my job is to make sure we've asked the questions, looked under the rocks, and made sure that we've looked thoroughly.
“And I have a tremendous amount of faith in that process and those people and that leadership. It seems to me that at this scale, it is going to come together as a process. I just couldn't be more pleased that we got to where we did.”
Now, with a nine-figure contract in hand—effectively guaranteeing his financial security—it is difficult to argue that Griffin is taking a gamble. He secured his fortune two weeks before his 20th birthday.
However, if Griffin lives up to superstar projections, he could have made even more money by not signing this current contract. Instead, he could have gone through three years of salary arbitration eligibility and then three years of free agency, potentially earning a higher total income through this route, thanks to increased market value and greater flexibility in contract negotiations.
Furthermore, the Pirates have had 29 losing seasons in the last 33 years.
Griffin made his debut in front of a sellout crowd, which erupted when the phenom hit a double in his first career at-bat. Still, he will learn that the atmosphere at PNC Park isn’t always that festive.
Yet, less than two years after being the Pirates’ first-round draft pick as a high school senior in Flowood, Miss., Griffin has committed his long-term future to Pittsburgh, history notwithstanding.
“This is where I see a winning organization,” Griffin said. “We're going to do a lot of great things with the players that we have, and I want to be a part of it for nine years. I want to continue to be a part of the build of winning playoff baseball. And this is a great place for me, a great place for my family, and I couldn't be prouder.”