Rivera signs two-year contract extension

The greatest closer of all-time re-ups with the greatest baseball team of all-time

From Yankees.com:

03/23/2004 2:11 PM ET
Rivera, Yankees agree on new pact
Deal with team saves leader could run through 2007
By Mark Feinsand / MLB.com Tickets Scoreboard Fantasy

TAMPA — For Mariano Rivera, the Yankees’ premier closer, it’s case closed as far as negotiations on a contract extension are concerned.
The Yankees held a press conference Tuesday at Legends Field, where they announced a contract that could run through 2007 with the club’s all-time saves leader.

The sides agreed to a two-year contract with a club option for 2007, which can vest based on performance.

“We’re excited,” said Yankees general manager Brian Cashman. “Mo’s been a big part of this organization from the beginning, when things turned around for us in 1996 with the tremendous setup job he did. Without question we’re talking about the best reliever in the history of baseball, and that’s how this organization sees him and I think that’s how the baseball community sees him.”

Rivera, who has 283 career saves, is believed to have agreed to $21 million over the first two years of the deal.

If the option is exercised, Rivera will also earn $10.5 million in 2007, making the annual salary close to John Smoltz’s $11 million. That figure is tops among relievers.

“I thank Mr. George for giving me the opportunity to stay with the Yankees forever,” Rivera said, referring to team owner George Steinbrenner. “This is the team I want to be with. I was born to be a Yankee.”

Cashman had been negotiating with agent Fernando Cuza throughout the spring, as the two sides worked to keep Rivera in the only uniform he has ever worn in his Major League career.

“The ingredients were there because we wanted to keep him and he wanted to stay,” Cashman said. “If we could work something out that made sense for both sides, there was no reason not to get it done.”

A five-time All-Star legendary for his postseason record, Rivera is entering the final season of a four-year, $39.99 million contract. He saved 40 games last season, compiled a 1.66 ERA, and was named Most Valuable Player of the American League Championship Series, won by the Yankees over Boston in seven games.

“He’s the best I’ve ever been around,” said manager Joe Torre, himself reported to be in negotiations for a contract extension. “Not only his ability to pitch and perform under pressure, but the calm he puts over the clubhouse is very important to us. He’s a special person.

“A closer is more than a pitcher, he’s an everyday player for us. You can’t win a game unless you get those last three outs.”

Rivera, 34, came up to the Yankees as a starter in 1995 but developed into a reliever the following season, setting up for closer John Wetteland as the Yankees won their first world championship since 1978. In 1997, Rivera became the team’s closer. He is 7-1 with a Major League-record 30 saves and a 0.75 ERA in 61 career postseason games. He also has a record nine World Series saves.

“I could’ve tested the [free agent] market, but that was not my goal,” Rivera said. “My goal was to remain a Yankee. I’m really happy we got the deal done. I hope I have a chance to get to the Hall of Fame in pinstripes.”

Rivera, who is 10 appearances shy of Dave Righetti’s record for most appearances by a Yankees pitcher, embraced Steinbrenner at the end of the press conference. The two left together.

“I know you’re going to do fine,” Steinbrenner told Rivera. “Now we have to get Joe and we’ll have everybody.”

Mark Feinsand is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.