Anatomy of a Deal Gone Bad
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The Maddux Fiasco
Part I: The Chicago Bids
a baseballyarn squandered opportunity
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Part I
Part II Part III
Part IV
Part V
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Maddux finishes the 1991 season at 15-11. At the end of next year (1992) he will become a free agent. Player and Team seek to set up a deal before then.
The negotiations involve four distinct parties, each of them representing a different interest
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The Player
Greg Maddux
Wants what's best for himself
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The Agent
Scott Boras
Wants most dough he can get |
The Baseball Exec
Larry Himes
Wants what's best for his team |
The Corporate Exec
Stanton Cook (+ others)
Wants best bottom line |
First Attempt (Dec. 3, 1991)
Baseball Exec makes offer to Player
$5,000,000 a year for 5 years
Largest total amount ever offered a pitcher
Player and Agent do not respond
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Second Attempt (All Star Game, 1992)
Corporate Exec(s) make same offer to Agent
($5,000,000 a year for 5 years)
Agent declines offer, says Player
deserves chance to test the market
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Third Attempt (Shortly after All Star Game)
Baseball Exec sweetens deal
Offers additional $500,000 a year for 5 years
(Total value of package = 27.5 million)
Agent says No, wants to test the market
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Fourth Attempt (End of 1992 Season)
Baseball Exec and Corporate Execs fly. . .
. . . to California to meet Agent
(Player is in Hawaii playing golf)
Agent: "We want to test the market"
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Maddux finishes the 1992 season with a 20-11 record. He becomes a free agent on October 26, 1992.
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