Correa will sign with the Minnesota Twins

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STUNNER: Carlos Correa Agrees to Terms with Minnesota Twins

Third time's a charm? The Minnesota Twins, against all odds, have come to an agreement with superstar shortstop Carlos Correa on six-year contract per ESPN's Jeff Passan. The deal brings to a close one of the oddest free-agent pursuits in MLB history and represents a financial commitment greater ...

twinsdaily.com

 

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This article explains some of the details of the vested contract. If Correa gets 502 plate appearances in year 6, then he will be able to continue to receive additional years with the Twins for up to $70 mil more as stated in the schedule.
If he vests year 7 he will receive $225 mil
If he vests year 8 he will receive a total of $245 mil.
It ends with 10 years and a total of $270 mil.

Year	Salary
2023	$33.3 million
2024	$33.3 million
2025	$33.3 million
2026	$33.3 million
2027	$33.3 million
2028	$33.3 million
2029*	$25 million
2030*	$20 million
2031*	$15 million
2032*	$10 million

*Indicates vesting year.

Correa can vest Year 7 (2029) of the deal with 502 plate appearances in Year 6.
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The Twins are offering a front loaded contract of $200 mil guaranteed for the 1st six years, while the Mets only offered $157.5 mil for the 1st 6 years.
The Mets 2nd 6 years were conditional and Correa couldn't get past the language according to John Heyman.
In the end, it's a win for the Twins and the American League.

Why Carlos Correa signed with the Twins after Giants, Mets contracts fell apart amid injury concerns | Sporting News

It's deja-vu all over again for Correa.

www.sportingnews.com

Carlos Correa Contract & Salary Breakdown - Boardroom

After reported Giants and Mets deals, he delivered another stunner -- Boardroom takes a look at the Twins' Carlos Correa contract particulars

boardroom.tv

Also: Bleacher Report Jan. 10. 2023 by Adam Wells

Report: Carlos Correa, Twins Agree to $200M Contract After Failed Mets, Giants Deals​

 

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According to the AP, these are the vesting terms:

"Minnesota’s deal includes options for $25 million in 2029, $20 million in 2030, $15 million in 2031 and $10 million in 2032, salaries that would become guaranteed if Correa has 575 plate appearances in 2028, 550 in 2029, 525 in 2030 and 502 in 2031. The deal could be worth $225 million over seven seasons, $245 million over eight years and $260 million over nine seasons.

Correa’s options also could be triggered by a top-five finish in MVP voting, a Silver Slugger award or World Series or League Championship Series MVP."

AP source: Correa spurns Mets, reaches $200M deal with Twins

A person familiar with the negotiations says Carlos Correa has agreed to a $200 million, six-year contract that keeps him with the Minnesota Twins after failing to complete deals with the New York Mets and San Francisco Giants.

apnews.com

 

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This is the Twins press conference connected to the signing that was streamed live.
The comments made by everyone involved are very enlightening toward explaining why the Twins medical opinions differed compared to the other teams.
Other feedback indicate how teams can play games with their medical opinions to use as a negotiating tactic.
And that's where Boras did his job.
From another article, Boras' standard fee for sports contracts is 5% of the total contract value.
Only time will tell if Correa can continue his trajectory to make it into the Hall of Fame someday.
At this point he has bet on himself & the Twins by deciding to play with an underdog team.

 

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The Mets could have matched the same 6 year offer that the Twins made.
But according to the NY Post, the real reason for not signing Correa was MLB's 90% luxury tax.

Cohen famously told me “what difference does it make” over the relatively small extra money he was spending (for him), but ultimately, there are lines for everyone, even him. Cohen is paying a 90 percent tax (the Steve Cohen tax) so that $33M is really $63M a year. Correa is really good. But is he that good?

The Twins, below the tax threshold, pay only the $33.33M salary, and no additional tax. So Cohen would have been paying double had they finalized the deal.

For those who figured Cohen has no limit, we may finally have found it.

The huge stars Steve Cohen could chase next after Carlos Correa disappointment

There will be more opportunities, which is the beautiful thing about free agency and having a net worth that rivals some small countries.

nypost.com

 

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For those who want to see the actual terms of the Correa contract in one place, here it is on Spotrac.

Carlos Correa | MLB Contracts & Salaries | Spotrac.com

Carlos Correa signed a 6 year, $200,000,000 contract with the Minnesota Twins, including $200,000,000 guaranteed, and an average annual salary of $33,333,333. In 2025, Correa will earn a base salary of $36,000,000, while carrying a total salary of $37,333,333.

www.spotrac.com

 

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In separate interviews with Correa & his agent Scott Boras, they each said that both the Giants and the Mets used the same ankle specialist who "red flagged" his ankle evaluation, a doctor who had never met or examined him.
Meanwhile other ankle specialists told Correa that he would be fine based on his functionality.
Correa was interviewed by The Athletic and Boras was interviewed by the Pioneer Press.

Same doctor responsible for Mets, Giants failing Carlos Correa physical

The Mets used the same doctor as the Giants on Carlos Correa's failed physical according to the shortstop's agent Scott Boras.

fansided.com

Twins' Carlos Correa says Mets, Giants used same specialist to assess ankle | News, Results, Highlights, Stats and Rumours - Bts Booth

After a long-running offseason saga in which he signed contracts with three different teams, Minnesota Twins shortstop Carlos Correa shared insight that led

btsbooth.com