White Sox not finished paying Peavy

July, 31, 2013
7/31/13
5:52
PM CT
Padilla By Doug Padilla
ESPNChicago.com
Archive
CLEVELAND -- The Chicago White Sox aren't exactly free and clear when it comes to paying Jake Peavy for services rendered.

The White Sox traded Peavy to the Boston Red Sox on Tuesday night in a three-team that also included the Detroit Tigers. Part of the deal stipulated that the Red Sox pick up all of the remaining money owed to Peavy, who is still must be paid a third of the $14.5 million he is making this year and all of the $14.5 million he is owed next year.

There remains another $4 million, though, that the White Sox will still be paying to their former pitcher. When Peavy's contract was renegotiated by the White Sox shortly after the 2012 season, the White Sox bought out the $4 million option from his old contract.

They then agreed to defer it in four $1 million installments that run from 2016 to 2019. The Red Sox are not picking up that money.

"That was earned at the time of the contract and that's the obligation of the Chicago White Sox," Hahn said. "That's like a signing bonus. He's already earned that money, but in terms of his annual salaries, no cash went with that to Boston."

Doug Padilla

Chicago White Sox beat reporter
Doug joined ESPN Chicago in July 2010 and covers the Chicago White Sox for ESPNChicago.com and ESPN Radio 1000.

SPONSORED HEADLINES

Comments

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment, and may be used on ESPN's media platforms. Learn more.


TEAM LEADERS

BA LEADER
Jose Abreu
BA HR RBI R
.317 36 107 80
OTHER LEADERS
HRJ. Abreu 36
RBIJ. Abreu 107
RA. Ramirez 82
OPSJ. Abreu .964
WC. Sale 12
ERAC. Sale 2.17
SOC. Sale 208