It was 12 years ago that agent Scott Boras introduced us to the concept of the pillow contract.
Boras’s client, first baseman Carlos Peña, was coming off a down season in which he hit .196 with the Tampa Bay Rays, albeit with 28 home runs and 84 RBIs. Peña agreed to a one-year, $10 million deal with the Chicago Cubs, which Boras referred to as a pillow contract for its “comfort” factor.
“It’s a one-year situation,” Boras said. “It’s a dynamic you can’t really expect the marketplace to address the values of Carlos’ ultimate abilities and also the issues of what happens to major-league players during every career — they have seasons where they have maladies that rise in the short term.”
