So how did the Mets and Carlos Correa settle on 12 years and $315 million when they agreed to a free-agent contract early Wednesday morning?
It’s not that complicated: The Mets came up with $27 million from their first call with Correa on Dec. 13, just before he settled his ill-fated 13-year, $350 million deal with the Giants.
During initial talks, Mets owner Steve Cohen also mentioned a 12-year framework for Correa. The team’s proposed figure was $288 million, or $24 million per season, according to sources briefed on the discussions.
Cohen was willing to increase the guarantee to $300 million to close the deal, but Correa’s agent Scott Boras told the owner that that wouldn’t be enough.
At the time Boras continued his discussions with the Giants, that was not the case.
The Mets’ original proposal was also just $3 million above the Twins’ $285 million 10-year offer to Correa and had a lower average annual value. The Mets were willing to guarantee Correa two more years than the Twins, but at a total of $4.5 million less per season.
But when the Giants acknowledged a “disagreement over the results of Carlos’ physical exam” in a statement, the dynamic changed.
Boras told the Giants he needed to talk to other teams. He contacted the twins and became involved with Cohen again. The twins didn’t want to up their offer or even move the conversation forward without exploring the potential issues caused by Correa’s body, sources said.
The Mets were a different story.
In rejoining Boras, Cohen offered $300 million, knowing the Giants’ $350 million deal was at least on hold. Boras parried. The negotiations continued. The Mets were betting on a small advantage they had over the Giants — California’s state income tax rate of 13.3 percent is the highest in the nation, while New York’s 10.9 percent tax rate ranks third.
Eventually, the parties struck a $315 million deal, an increase of $2.25 million per season over the Mets’ original 12-year concept. The agreement is pending a physical examination, which was due to take place on Thursday. When the deal is finalized, Correa will move from shortstop to third base.
Correa’s $350 million deal with the Giants would have earned him the fourth-highest overall in major league history and the highest for a shortstop, the position he would have played in San Francisco. His $315 million contract with the Mets would be the 10th highest overall and second on the team behind shortstop Francisco Lindor’s $341 million deal.
Correa would be less affected by the annual average, falling from $26.92 million with the Giants to $26.25 million with the Mets. Both numbers would place 32nd overall.
(Photo: Raj Mehta / USA Today Sports)