Report: Carlos Correa, Twins Agree to $200M Contract After Failed Mets, Giants Deals

Adam WellsJanuary 10, 2023

MINNEAPOLIS, MN - SEPTEMBER 14:   Carlos Correa #4 of the Minnesota Twins returns to the dugout in the eighth inning during the game between the Kansas City Royals and the Minnesota Twins at Target Field on Wednesday, September 14, 2022 in Minneapolis, Minnesota. (Photo by David Berding/MLB Photos via Getty Images)
David Berding/MLB Photos via Getty Images

Carlos Correa's whirlwind offseason continued Tuesday when he reportedly agreed to a deal with the Minnesota Twins.

According to ESPN's Jeff Passan, Correa and the Twins came to terms on a six-year, $200 million contract that can max out at $270 million:

Jeff Passan @JeffPassan

BREAKING: Shortstop Carlos Correa and the Minnesota Twins are finalizing a six-year, $200 million contract, sources tell ESPN. The deal has a vesting option that can max out at $270 million. It is pending physical.

Ken Rosenthal of The Athletic reported additional details:

Ken Rosenthal @Ken_Rosenthal

Correa's contract is for six guaranteed years and $200M. He can guarantee a seventh year and another $25 million with 502 plate appearances in year six, according a source. Total value can increase to $245M if he gets eighth year. More details to come. Again: Pending physical.

Ken Rosenthal @Ken_Rosenthal

Correa breakdown, per source:<br><br>$36M, $36M, $36M, $31.5M, $30.5M, $30M.<br><br>Numbers the first two years include $8M signing bonus, half to be paid in '23, half in '24.

According to Jon Heyman of the New York Post, the "major part" of Correa's physical is already done:

Jon Heyman @JonHeyman

Sources: The major part of Correa's physical is complete — including the ankle at issue — so there's nothing foreseen to stop Correa's return to the Twins

Heyman noted Correa received a full no-trade clause in the deal.

The Twins are the third team Correa has agreed to a contract with this offseason. His previous agreements with the San Francisco Giants and New York Mets fell through because of an issue that cropped up during his physicals.

Correa first agreed to a 13-year, $350 million contract with the Giants on Dec. 13. It was the richest pact in MLB history for a shortstop.

The Giants had a news conference planned for Dec. 20 to introduce Correa, but the team announced a few hours before it was scheduled to begin that it was postponing the event.

Per Alex Pavlovic of NBC Sports Bay Area, San Francisco had concerns about Correa's ankle from an injury he suffered in the minors during the 2014 season.

The Mets swooped in Dec. 21 to give the two-time All-Star a 12-year deal worth $315 million. Heyman reported Tuesday that New York was only willing to guarantee the first six years:

Jon Heyman @JonHeyman

Sources tell The Post: Mets were willing to fully guarantee 6 years (at $157.5M) but the final 6 would have been only conditionally guaranteed. So Correa will make $42.5M more in first 6 with Twins. Mets and Correa couldn't get past the language issue. Story to come at <a href="https://twitter.com/nypost?ref_src=twsrc%5Etfw">@nypost</a>

"We needed one more thing, and this is it," Mets owner Steve Cohen told Heyman in December. "This was important. ... This puts us over the top. This is a good team. I hope it's a good team."

Cohen's decision to speak publicly about the agreement with Correa was risky because it was not finalized and Correa still had to take a physical.

As it turned out, the Mets saw the same thing in Correa's ankle that gave the Giants pause.

Rosenthal and Dan Hayes reported Dec. 24 that the Mets "raised concerns" about the 28-year-old's leg, which was surgically repaired after the injury.

A former executive told Rosenthal and Hayes that MLB warns teams not to speak on the record before deals become official because "such remarks might persuade an arbitrator to side with the player in a grievance" if one were to be filed.

Rosenthal and Hayes also noted that the Twins, with whom Correa played last season, declined to move beyond the 10-year, $285 million extension they offered early in the offseason when Scott Boras attempted to re-engage them in talks after the deal with the Giants fell through.

Minnesota "also would not have advanced the conversation without investigating the potential issues" that San Francisco found in Correa's physical, according to Rosenthal and Hayes.

Unlike the situation with the Giants, though, ESPN's Jesse Rogers reported Correa and the Mets were "working through" the issue and a finalized agreement was still likely.

There has been no indication from Correa's on-field performance that the ankle causes him problems. He did miss 192 games from 2017-19, but those injuries were related to his thumb, back, neck and ribs.

Since the 2020 season, Correa has played 342 out of a possible 384 games. He hit .291/.366/.467 with 22 homers and 64 RBI last season.

Correa's long-term prognosis might be a concern because of the ankle injury, but there's no denying he has been an elite player for most his MLB tenure. The Twins are re-signing one of the best shortstops in baseball.