The Tigers announced today that they’ve extended infield prospect Colt Keith on a six-year contract with club options for the 2030, 2031, and 2032 seasons. Each club option includes salary escalators. The deal guarantees Keith $28.6425MM and could max out at $82MM over nine years if all three options are escalated and exercised. In addition to a $2MM signing bonus, Keith will earn $2.5MM in salary for the 2024 campaign, $3.5MM in 2025, $4MM per season in 2026 and ’27, and $5MM per season in 2028 and ’29. Before escalators, the 2030 club option is valued at $10MM with a $2.6425MM buyout while the 2031 option is valued at $13MM with a $1MM buyout and the 2032 option is valued at $15MM with a $2MM buyout.
Keith, 22, was a fifth-round pick by the Tigers in the 2020 draft and since then has ascended rapidly through the minor leagues with a .300/.382/.512 slash line across all levels, including a .306/.380/.552 slash line in 126 games split between Double- and Triple-A last season. Both president of baseball operations Scott Harris and Keith himself commented on the extension in a press release following the announcement.
“This is a very exciting day for the Detroit Tigers, Colt, his family, and our fans,” Harris said in the presser. “This contract demonstrates our faith in Colt and this organization’s commitment to acquire, develop, and retain young talent.”
“I couldn’t be more excited to reach this agreement, securing my place in this organization for years to come,” Keith added. “There’s a reason I felt strongly about making a long-term commitment to be here, and being surrounded by incredibly talented teammates and coaches is a big part of that… I know this is a big accomplishment, but ultimately my mission is to be the best player possible and help win a World Series Championship for Tigers fans everywhere.”
Keith was already expected to join the big league roster as the Tigers’ everyday second baseman at some point in the year, but today’s deal all but guarantees he’ll be in the lineup on Opening Day if healthy. The deal takes away the opportunity for the Tigers to secure an extra year of team control over the infielder while still allowing the club to be eligible for a draft pick from the prospect promotion incentive in the event that Keith earns a full year of service time in 2024 and either wins the AL Rookie of the Year award or places in the top three of MVP voting before he would have been eligible for arbitration.
More to come…