Bonds Rings Bell With Rich Extension

In baseball’s battle of economic gamesmanship, Barry Bonds edged past Albert Belle on Thursday.

Bonds, whose six-year, $43.75-million contract with the San Francisco Giants expires after the 1998 season, received a two-year extension that sets an industry record for highest annual value.

Bonds is guaranteed $22.9 million for 1999 and 2000, based on salaries of $9.7 million and $10.7 million and a $2.5-million buyout if the Giants fail to exercise an option for 2001. If the Giants pick up that option, the three-year guarantee is $30.7 million.

Belle recently signed a five-year, $55-million contract with the Chicago White Sox--an annual value of $11 million that surpassed the record $8.5 million of Ken Griffey Jr.’s four-year extension.

Now Bonds has reclaimed the record with an annual value of $11.45 million for his two-year extension. It caps an explosive winter in which four players--Roger Clemens, John Smoltz, Mike Piazza and Belle--received contracts with higher annual values than the $7.29 million of Bonds’ six-year contract with the Giants, a record when he received it as a free agent four years ago.

Barring injury, the extension guarantees that Bonds, 32, who became the first National League player to reach 40 homers--he had 42--and 40 steals last year, will be with the Giants when the club moves into a new stadium near China Basin in 2000.

The extension also includes award bonuses totaling $450,000 a year and a promise by Bonds to make a stronger effort in community relations.

Said Bonds: “I have always felt in my heart that the greatest gift I could give my hometown is a World Series championship ring, and thanks to the Giants today I’ve been given the opportunity to make that dream come true.”