Orioles to announce Adam Jones' 6-year, $85.5M extension on Sunday
Orioles talks on a long-term contract extension with Adam Jones are ongoing, and sources have told CBSSports.com's Jon Heyman the deal is six years for about $85.5 million.
The Orioles are surprisingly atop the mighty AL East as June is right around the corner. Meanwhile, center fielder Adam Jones is putting up MVP-caliber numbers. So with the 26-year-old set to hit arbitration one last time this offseason and then free agency after 2013, it's only natural for both sides to talk extension. The two sides have agreed to a six-year deal worth about $85.5 million, Jon Heyman of CBSSports.com reports. The deal will officially be announced on Sunday.
Such a contract would eclipse Miguel Tejada's six-year, $72 million contract signed back in December of 2003 as the biggest in Orioles history.
Jones is hitting .311/.357/.601 with 14 homers, 29 RBI, 32 runs and six steals this season. If the MVP voting were held for just up to this point in the season, Jones would probably finish second in the AL to Josh Hamilton.
A six-year deal would eat up the final arbitration year for Jones, and five of his potential free agent years. He would then be eliglible to hit the free agency market again when he's 33. Assuming Jones keeps producing well, that would mean this contract is a win for both parties.
Jones will receive a $2 million signing bonus, $8.5 million in 2013, $13 million in 2014 and 2015, $16 million in 2016 and 2017 and $17 million in 2018.