Hot Stove Coal: Randy Winn Finalizes One of the Strangest Contracts

Brian Cashman said he had $2 million to spend on a leftfielder and it looks like he will do that one way or another. The report came out today that Winn's contract is only for $1.1 M and with the $900,000 Thames will get if he makes the Major Leagues, that makes $2 M. But if Thames doesn't make the roster, Winn will be able to make $2 M all by himself. How? Let the AP explain:

Randy Winn and the New York Yankees have finalized a $1.1 million, one-year contract.

The outfielder can earn an additional $900,000 in performance bonuses based on plate appearances against left-handed pitchers. He would get $100,000 each for 50, 75 and 100, and $150,000 apiece for 125, 150, 175 and 200.

Winn better hope that he gets lots and lots of ABs against lefties; he has an 82% bonus riding on it. My guess is that Cashman and the Yankees will either see an ability in Randy Winn to hit lefties in Spring Training and if he can, they'll take Winn and Jaime Hoffmann (who makes very little) and if  he can't as they expect, then Thames will come along as a bench bat. This is what we in the financial world call "insurance".