The Magic of the Extra Year

The Mets signed Billy Wagner using their secret weapon, the extra year. That's how they got Pedro last year, by being the only team that would give him four, and this year when the Phillies offer 3 with an option, the Mets offered 4 with an option. The deal is 4 years at $40m, with the option for a 5th year at an additional $10m. If they decline the option on the 5th year they owe him $3m, meaning the deal is 4-years, $43m and they essentially get him for $7m in the last year. The Mets needed a closer, who knows what will happen in 2009, but for 2006 this is a great move.