January 29, 2023

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Rosenthal: How did the Mets and Carlos Correa land in 12 years, $315 million?

So, how was that mets And the Carlos Correa Settled in at 12 years and $315 million when they reached an agreement on a free agent contract early Wednesday morning?

It’s not all that complicated: The Mets got $27 million from their initial conversation with Corea on Dec. 13, shortly before he agreed with giants on his ill-fated 13-year, $350 million deal.

During the first set of conversations, Mets owner Steve Cohen also mentioned a 12-year framework for Korea. The team’s suggested figure, according to sources familiar with the discussions, was $288 million, or $24 million per season.

Cohen was willing to increase the guarantee to $300 million to close the deal, but Correa’s agent, Scott Boras, informed the owner that it wouldn’t be enough.

At the time, as Boras advanced in his discussions with the Giants, that was not the case.

The Mets’ initial proposal was also only $3 million higher than twins’ 10 years, $285 million offer for Correa, average annual value lower. The Mets were willing to guarantee Correa two more years than the Twins, but $4.5 million less per season overall.

But when the Giants confirmed in a statement “a difference of opinion about the results of Carlos’ physical examination,” The dynamic has changed.

Boras told the Giants he needed to talk to the other teams. He called the twins and reconnected with Cohen. Sources said the twins didn’t want to over show, or even take the conversation forward without investigating potential problems caused by Correa’s body.

Mets was another story.

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Upon re-dealing with Boras, Cohen offered $300 million, knowing that the Giants’ $350 million agreement was, at least, outstanding. Boras refused. Negotiations continued. The Mets relied on a slight advantage they had over the Giants — California’s income tax rate of 13.3 percent is the highest in the country, while New York State’s income tax rate is at a rate of 10.9 percent ranks third.

In the end, the two parties struck a deal worth $315 million, an increase of $2.25 million per season over the Mets’ initial 12-year concept. The agreement is pending material, which was scheduled for Thursday. If the contract is completed, Correa will move from shortstop to third base.

Correa’s $350 million agreement with the Giants would have given him the fourth highest total value in major league history and the highest value for the shortstop, a position he would have played in San Francisco. His $315 million contract with the Mets would be 10th overall, and second on the team after a short stint. Francisco Lindorwith a value of 341 million dollars.

Correa would take below average annual value, dropping from $26.92 million with the Giants to $26.25 million with the Mets. Both numbers would rank him 32nd overall.

(Photo: Raj Mehta/USA Today Sports)