Last season Jason Giambi made 21 million dollars in the final year of a 7-year, 120 million dollar deal. This year Giambi will make 5.25 million, which incidentally is the exact same as what Bobby Crosby will make in 2009. Anyways, that's a huge pay cut. Sure, Giambi was wildly overpaid during the final few years of his mega-deal, but still, that's crazy. He will be making 75% less in 2009 than he did in 2008.
Has that ever happened before? I'd look it up, but I don't even know where to begin. I'd imagine other players have dealt with similar pay slashes, but damn, that's got to be right up there.
Obviously, the implosion of the free agent market didn't leave Giambi with many other options besides the A's offer, but I suspect there might have been another factor at work. Namely that 5 million dollar buyout check that the Yankees cut Giambi earlier this winter. So thanks George, or Hank, or Hal, or whoever it was that signed on the dotted line. Thanks.
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