Garza's contract details; Updated payroll projection; Updated deferred installments

Today the specific details of Matt Garza's contract came out.  Previously I had believed Garza would receive $12.5 million because of this tweet from Jon Heyman.  While technically true (or in other words, wrong) it's been revealed that $2 million will be deferred from each of the 4 guaranteed years.  Cot's Contracts lists that these payments ($2 million each) are to be made from 2018-2021.  There are also performances bonuses at $500,000 for starting 30 games and another $500,000 for reaching 190 innings.  The details regarding the vesting year have also been revealed and it's a bit convoluted.  His option will vest 1. He starts 110 games in over the course of the four guaranteed contract years (2014-2017), 2. He isn't on the disabled list at the end of 2017, and 3. He pitches at least 115 innings in 2017.  If the option does not vest, it becomes a team option.  The Brewers can exercise that option for $5 million unless Garza spent 130 days on the DL in any 183 day period (full season) in which case the team option is for $1 million!  With the complete details revealed I like this deal even more.  The one caveat here is that there must have been something in Garza's physical exam that suggested a contract of this type was warranted.  In other words, the Brewers believe an injury is a real risk.  I think it's a risk worth taking.

Now that we know Garza's contract includes deferred money I wanted to update both the payroll projection.

Updated Payroll: $93.075 million

I also wanted to include Garza's money in the analysis of Brewers' deferred installments over the years.  Lohse's exact deferred payment installments were also brought to my attention by a reader so I included those.

	2016	2017	2018	2019	2020	2021	2022-31
Braun							$1.8 M
Ramirez		$3.0 M	$3.0 M
Lohse	$2.0 M	$2.0 M	$3.0 M
Garza			$2.0 M	$2.0 M	$2.0 M	$2.0 M
Total	$2.0 M	$5.0 M	$8.0 M	$2.0 M	$2.0M	$2.0 M	$1.8 M

For most of those years the deferred payments shouldn't matter too much.  However 2017 and especially 2018 could be problematic.  That is around the time when some of the Brewers' better prospects are expected to arrive at the majors, so perhaps that will help mitigate this issue.  Still, they're running out of room to defer money in the near future.