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Frank Thomas and the Diminished Skills Clause

Old 10-16-02, 09:40 AM
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Frank Thomas and the Diminished Skills Clause

Did anyone else hear about this? Apparently, the White Sox have exercised a "Diminished Skills" clause in Thomas's contract, which reduces his salary from 10 million to $230,000 a year. Personally, I think this is great. Thomas has struggled for the past two or three seasons, and it's nice to see a team make one of their highest paid players earn their money.
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Old 10-16-02, 09:46 AM
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i think its great that frank had this in his contract

maybe another team will pick him up.. at 10 mil, noone would have considered.. but at 230,000 he is a bargain, even with 'diminished skills'
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Old 10-16-02, 10:01 AM
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I bet he signs somewhere for at least $3 million next year.
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Old 10-16-02, 10:23 AM
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I'd like to see the clause itself. It is hard to imagine that this clause gives the team the unilateral ability to declare that his skills have diminished. He did have 28 HR and 92 RBI last year. That is nothing special in this day and age, but I think it is worth more than 250K/season.

The lawyers will decide this.
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Old 10-16-02, 10:36 AM
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Too bad Tino Martinez doesn't have something like this. Maybe a "million for every hit in the playoffs" clause.
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Old 10-16-02, 10:47 AM
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Originally posted by Red Dog
I'd like to see the clause itself. It is hard to imagine that this clause gives the team the unilateral ability to declare that his skills have diminished. He did have 28 HR and 92 RBI last year. That is nothing special in this day and age, but I think it is worth more than 250K/season.

The lawyers will decide this.
good point.. i didnt realize he and rebounded and put up those numbers

maybe the numbers look at a 3 year average or something?
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Old 10-16-02, 11:11 AM
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I think they could have invoked it after last season, but didn't want to piss him off. I may be wrong, but I thought it was statistic based, like he has to have at least 100 RBI and 30 HR or something.
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Old 10-16-02, 11:27 AM
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1. The clause said the Sox could defer part of his salary if he failed to be an AllStar, win the Silver Slugger award, or finish in the top ten for the MVP.

2. Although it's the Sox's right to defer almost the entire salary, the are only going to scale it down to around $5 million, NOT $250,000.

3. The rest is only deferred (with no interest), meaning Thomas will get his money eventually while giving the Sox more flexibility.

4. No one is going to give Thomas more than $5 million a year through 2006 (which his current contract will do).

In summary, he's not going anywhere. The few teams that could use him (Twins, etc) can't pay him more than he'll get here. I don't see why it's such a big deal anyway, it happens all the time in the NFL, even Griffey deferred part of his salary to help the Reds (though I'm sure he was smart enough to get interest paid )
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Old 10-16-02, 01:30 PM
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Originally posted by Meatpants
...2. Although it's the Sox's right to defer almost the entire salary, the are only going to scale it down to around $5 million, NOT $250,000...

3. The rest is only deferred (with no interest), meaning Thomas will get his money eventually while giving the Sox more flexibility.
...
Per the Chicago Sun Times ( http://www.suntimes.com/output/sox/cst-spt-sox161.html ), the new salary is $250,000, though as you said the remaining amount ($9.75 million or $4.75 million?) will be deferred until after the 2006 contract, and it will be without interest.

And you are right in that nobody is going to pay him more than that, and since he is a baseball player (thus a greedy whiner), he will stay with the White Sox and will probably start playing even more badly on purpose, just to "show them".
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Old 10-16-02, 02:40 PM
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Originally posted by Heat
Per the Chicago Sun Times ( http://www.suntimes.com/output/sox/cst-spt-sox161.html ), the new salary is $250,000, though as you said the remaining amount ($9.75 million or $4.75 million?) will be deferred until after the 2006 contract, and it will be without interest.
The Suntimes sucks , it looks like they pulled a bunch of that from the AP. The Tribunes stories all say Reinsdorf is going to make it $5 million so Frank isn't totally humiliated.
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