The Rays announced today that they’ve signed RHP Wade Davis to a seven year deal with $12.6 million guaranteed money that could keep the budding star in the Rays’ rotation through his prime years. For Davis it’s a significant bump in salary from the $404,900 he made in 2010. For the Rays it’s a smart move; they lock in the 25-year old Davis and solidify another part of their rotation for the foreseeable future.
According to a report from MLBTradeRumors.com Davis’ salary breaks out as follows:
2011 – $1.0 million
2012 – $1.5 million
2013 – $2.8 million
2014 – $4.8 million
The Rays also own options for three additional years:
2015 – $7.0 million
2016 – $8.0 million
2017 – 10.0 million
The Rays can also buy out his contract after the 2014 season for $2.5 million.
While it might seem a gamble to some, it’s one the Rays have to make to remain competitive and, if Davis continues his ascension as a quality SP, a very low-risk high reward gamble. It cements Davis at a great price for the team, and, like the deal Evan Longoria signed, provides them stability with one of their core players moving forward.