Zambrano agrees to $91.5 million extension with Cubs

Mound of money: Carlos Zambrano's $18.3 million average annual salary is the highest for a pitcher with a multiyear contract. AP

MLB's HIGHEST SALARIES Contracts with average annual values of $17 million or more: Player, Club Years Avg. Salary Roger Clemens, NYY * 2007 $28,000,022 Alex Rodriguez, NYY 2001-10 25,200,000 Manny Ramirez, BOS 2001-08 $20,000,000 Derek Jeter, NYY 2001-10 $18,900,000 Carlos Zambrano, CHC 2008-12 $18,300,000 Vernon Wells, TOR 2008-14 $18,000,000 Barry Zito, SF 2007-13 $18,000,000 Ichiro Suzuki, SEA 2008-12 $18,000,000 Jason Giambi, NYY 2002-08 $17,142,857 Carlos Beltran, NYM 2005-11 $17,000,000 Alfonso Soriano, CHC 2007-14 $17,000,000 Note: Figures obtained by The AP from player and management sources and include all guaranteed income but not income from incentive bonuses. There is no distinction for deferred money. * joined team midseason, earning $17,442,637

By Jon Heyman, SI.com

Cubs ace Carlos Zambrano has agreed to a five-year, $91.5 million contract extension to remain with Chicago, SI.com has confirmed.

A source told SI.com the contract includes a complete no-trade clause.

Zambrano's per-year salary will be slightly higher than Barry Zito's $18 milllion deal. Zito set the standard with a seven-year $126 million contract last winter.

The deal includes a $5 million signing bonus, and if he finishes first or second in Cy Young Award voting in 2011 or finishes in the top four in Cy Young balloting in 2012, he has the option for a sixth year at $19.25 million.

Zambrano and the Cubs were close to agreeing to a five-year deal for about $82 million in April when the sale of the team caused the Cubs to pull the offer off the table. Zambrano, one of baseball's most consistent and dominant pitchers, is 14-9 with a 3.86 ERA and would have been eligible for free agency after this season.

"We were within earshot of this thing, completing a deal near opening day. But due to the sale of the Tribune, it changed everything," Zambrano's agent Barry Praver said. "The one thing that did remain constant was Carlos' burning desire to remain a Cub."

Zambrano said he's not completely satisfied and won't be until he helps the Cubs make the World Series.

"I feel happy right now, feel comfortable right now but it's not enough," Zambrano said at news conference. "I have a mission to complete and I have a way to go with my teammates to lead this team. ... It's not enough when you retire and don't have the ring."

Zambrano skipped a shot at free agency and its lucrative payday to stay with the only club he's ever known.

"Not everything is about money, you know," Zambrano said. "I know if I got to free agency there were a lot of things that would come to me and offer me. I feel comfortable here. I feel good here and my family feels good here."

Zambrano signed a one-year, $12.4 million deal during spring training. A two-time All-Star, he has a 78-51 career record.

Praver said the no-trade clause was not something that was easy for general manager Jim Hendry to give up during negotiations. "It was huge and quite frankly we're not sitting here today if we don't have that," Praver said.

Said Hendry: "My strong belief is that we couldn't have replaced Carlos. I didn't have an appetite to be on the free agent pitching market all winter. There was nobody close to his ability available."

Hendry said Tribune Co. higher ups and president John McDonough had allowed him to move forward and make the decisions on big contracts he felt were necessary to turn the team into a winner.

During the offseason the Cubs went on a $300 million spending spree, including an eight-year, $136 million contract for free agent outfielder Alfonso Soriano.

Hendry said Zambrano stayed patient even as his wait for a new deal dragged out because of the uncertain future of the team and ownership. Hendry has known Zambrano since he was 16 years old.

"I'm sure there were frustrations and I think he understands I was telling him the truth why it couldn't be done," Hendry said.

"It would have been a lot easier for him to say, 'Well you know what, I'll give you a good shot in November, but I'm going to go out and see what's out there.' It's a good ending to something we wished we could have finished in March, but circumstances that even the company couldn't control obviously were involved. And it was nobody's fault."

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