A contract extension has been reached between the White Sox and [Alexei] Ramirez for four years, $32.5 million, with a $10 million option for the fifth year. The new deal was officially announced Thursday.
The White Sox picked up the 2011 option on Ramirez’s contract in early December, giving Ramirez a base salary of $2.75 million, after he opted out of the final year of his four-year deal that would have paid him $1.1 million.
Here’s the contract breakdown from the press release:
The Chicago White Sox and Silver Slugger Award-winning shortstop Alexei Ramirez have agreed to terms on a four-year, $32.5-million contract extension which includes a club option for the 2016 season.Under terms of the deal, Ramirez will receive $5 million in 2012, $7 million in 2013, $9.5 million in 2014 and $10 million in 2015. The club holds a $10-million option for 2016, which includes a $1-million buyout. Ramirez still will earn a base salary of $2.75 million in 2011 as per the terms of the original four-year contract he signed with the White Sox on January 22, 2008.