Pedro gets hotel suite on road trips
The pitcher will receive a luxury suite at Shea Stadium for every home game and a hotel suite on all road trips, according to terms of his contract obtained Saturday by The Associated Press.
Martinez's $53 million, four-year deal, which was finalized Wednesday, calls for him to get a $3.5 million signing bonus that is payable through July 2007. He gets salaries of $10 million in 2005, $14 million in 2006, $14 million in 2007 and $11.5 million in 2008.
New York gets to defer $4 million of his salary in both 2006 and 2007 and $2 million of his salary in 2008, and will pay the money to him plus 5 percent compounded interest.
Martinez, already a three-time Cy Young Award winner, would get a $500,000 bonus if he wins the award again this contract, $1 million if he wins it a second time, $1.5 million if he wins it a third time and $2 million if he wins it a fourth time.
He gets $400,000 for finishing second in the voting and $300,000 for winding up third.
In addition, Martinez would receive $50,000 for each All-Star appearance, $50,000 for each Gold Glove, $50,000 for winning the league championship series MVP award and $250,000 for winning the World Series MVP award.
Martinez went 16-9 with a career-high 3.90 ERA last year, when the Red Sox won their first World Series title since 1918, and was 117-37 during seven seasons with Boston.
Copyright 2004 by The Associated Press
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