twin032508.nathan

Nathan gets $47 million deal

The closer's new contract could be worth up to $59 million and keep him with the Twins through 2012.

By LA VELLE E. NEAL III, Star Tribune

Last update: March 25, 2008 - 12:33 AM

FORT MYERS, FLA. - The Twins had the money. They believe they will be competitive (if not this year then in 2009), and they wanted keep their bullpen stabilized.

So they moved aggressively in getting closer Joe Nathan to agree to a four-year, $47 million contract Monday, a deal that tears up his 2008 contract and includes an option for 2012. Since joining the Twins and becoming their closer in 2003, Nathan, 33, has 160 saves over the past four seasons, tying him with the Yankees' Mariano Rivera for the most in the American League over that span.

"This is not a hometown discount deal," said Twins assistant GM Rob Antony, who has negotiated multiyear deals totaling $151 million in guaranteed money for Nathan, Michael Cuddyer and Justin Morneau over the past two months.

"At the same time, if he pitches this season and has a Joe Nathan-type year, what he's looking at in free agency could be a lot bigger than what he agreed to [Monday]. I give Joe credit for wanting to stay."

The contract could reach as much as $59 million if the option is picked up and if he reaches certain performance levels.

"A lot of people are counting us out. We have a good team. We're going to be good this year. ... We're going to be good for years to come," Nathan said. "A lot of guys are hungry, and that's the reason why I'm coming back, because they are committed to winning."

Nathan, who was set to make $6 million this year and could have been a free agent after the season, instead will receive $11.25 million per year from this year through 2011. If the Twins don't pick up his option, they must pay him a $2 million buyout.

The 2012 option starts at $12.5 million, with the chance to rise to $14 million if he hits all performance levels in the deal.

The deal includes a limited no-trade clause. The Twins, who will enter the season with a payroll around $67 million, plan to insure the contract.

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