The Rockies are in agreement with Mickey Moniak on a one-year, $1.25MM contract, report Mark Feinsand and Thomas Harding of MLB.com. The Angels released the former first overall pick yesterday. Moniak, a Wasserman client, has a little over three years of service time and is technically controllable through 2027 via arbitration.
Moniak had gone to an arbitration hearing with the Halos. He prevailed and was awarded a $2MM salary. However, arbitration salaries are only fully guaranteed if the player and team mutually agree to them without a hearing. The distinction was introduced in the most recent collective bargaining agreement, at least partially to incentivize players to agree to deals without going to hearings.
Players who go to a hearing (regardless of whether they win or lose) are only guaranteed termination pay until the beginning of the regular season. Players released early in Spring Training receive 30 days termination pay; those released within 15 days of Opening Day are guaranteed 45 days of termination pay. Moniak obviously fell into the latter bucket, so he received roughly $484K from the Angels when he was cut loose.
That’s on top of the money he’s guaranteed from the Rockies, meaning he has now locked in around $1.73MM for this season. That’s about $270K below what he had won in the hearing, but it’s roughly $230K above the Angels’ $1.5MM filing figure during the arbitration process. Moniak lands just shy of the midpoint between his and the Halos’ respective filing numbers.
More to come.
