Late Monday, the news broke that Barry Bonds and the San Francisco Giants had reached an agreement on a long-term contract. While we knew that Bonds would be back in the Bay next season because he accepted the Giants offer of salary arbitration, there was still a good deal of uncertainty about the length of any contract.

Bonds has been open in his desire to remain a Giant through the end of his career, but there was some question as to whether San Francisco would authorize the funds necessary to pay him a respectable salary. After breaking the single season home run record in 2001 and with numerous other records including the career home run record in his sights, it was expected that Bonds could have received up to $30 million dollars for one year if the two parties had not reached an agreement without an arbiter.

After extended negotiations, the two parties agreed to a guaranteed 4-year, $72 million deal with provisions for a 5th year. It breaks down to $13M in 2002, $13M in 2003, $16M in 2004, and $20M in 2005, with a $10M signing bonus. Five million dollars will be deferred from each of the first four years of his contract to be paid between 2007-2011. As I understand it, if Bonds accumulates 1500 or more plate appearances from 2003-05 with at least 400 PA in 2005, the fifth year of the deal becomes guaranteed at $18M. If he fails to reach the plate appearances needed to guarantee the deal and has less than 500 PA in 2005, then the final year of the contract becomes a club option .

The contract also includes a full no-trade clause, although Bonds already had the ability to veto trades through his 5-and-10 rights (if a player has been in the major leagues 10 years and with the same team for 5 years then he can veto trades). In addition to the 5-year player contract, the two sides also agreed to an unprecedented 10-year personal service contract cementing Bonds relationship with the team after his playing career ends; in exchange, the Bonds Family Foundation will receive $1M a year from the Giants.

I think this agreement should work out well for both sides. San Francisco will be paying a large sum of money to Bonds over the next decade and a half, but in return their fans should have the privilege of watching an inner-circle Hall of Famer finish out his career in what should be spectacular form. Management can sit back and watch while the new stadium stays full. This appears to be a dream come true for Bonds. His age was both the catalyzing factor in his desire to stay with put and the primary obstacle in sealing a long-term deal. At 37, Bonds still feels he has several good years of playing time left in him and had little patience for the prospect of finding himself in a position similar to Rickey Henderson, still willing and able to contribute to a team but stuck club-jumping to find a roster slot. He enjoys playing for the Giants and has said that he will leave gracefully should he be unable to play. This contract should allow him to be relaxed and happy in his final playing years.

Of course, the club is still going to need to win to keep the fannies in the seats, but I think that a healthy, happy Barry Bonds will make for one heck of a centerpiece for the Giants over the next 3-5 years. I really like the stability this brings to their offense, as they can now go about building the rest of their team with the knowledge that Bonds will be there at the core. Due to the fact that Bonds did not demand more compensation and agreed to defer a significant portion of the contract, the organization should have plenty of room to play with the payroll. Bonds made those concessions not only because he wanted to stay on the Giants, but also because he wants to retire with at least one World Series ring, and he realized that a more lucrative deal would likely stand in the way of that goal by crippling the team financially.

Dusty Baker should be key to the Giants success over the next few years, as the club has numerous players who don't quite have what it takes to excel in full time positions but who are able to significantly contribute in roles tailored to their strengths. Rich Aurilia is signed through 2003, but the team will need to work out a long-term deal with Jeff Kent or find a replacement at the end of 2002. Kent is already 33, so they might want to consider looking for someone younger and more compatible with Bonds in the clubhouse.

While many analysts are critical of San Francisco's minor league system, I think it shows some promise. Kurt Ainsworth and Ryan Jensen were both up for portions of last season, but should be able to contribute in even larger roles this year. RHP Jerome Williams should receive a full year at AAA this year and then stick in the majors after a September call-up. Prospect Boof Bonser is still much further away, as he was only in A- last season, although he still shows good potential, and a guy named Boof is sure to be an instant fan favorite. Outfield prospect Tony Torcato still needs some more time in AAA to work on his plate discipline but should be ready to take over in right field when Reggie Sanders' contract expires. I also like the potential of catcher Yorvit Torrealba.

I think the organization still needs to spend some money securing one more offensive position, because I dislike having platoons at 1B, 3B, and CF. They should also look into trading Livan Hernandez and acquiring a replacement starter to take pressure off the young pitchers and eat some innings, although I really like the talent and depth of their bullpen.

Without this signing, I think they would have entered an extended rebuilding phase. However with some minor tweaking, the team should definitely give the Diamondbacks a solid race for the Division and certainly has the potential go far into the post-season in the next few years.