Thanks to the great work of Ken Davidoff, we now know that Henry Blanco has “failed” his physical with the Mets. Usually failing a physical means a voided contract and a trip back to free agency, but the Mets took a different route. Blanco’s contract has been renegotiated, and how includes much less guaranteed money.
Davidoff says the contract now only guarantees $750,000 (previously $1.45MM), though it also includes incentives that can get Blanco up to $2.225MM. About half of these incentives, $700,000, escalates based on how many days Blanco spends on the roster, reaching its max at 150 games. The remaining $775,000 can be obtained through means that only a starting catcher should be able to obtain, so unless something goes terribly wrong, Blanco won’t get a dime of it. Davidoff reveals the details of the ridiculous incentives in his post.
If Blanco goes on the DL, he loses money. If the Mets release him due to anything other than “shoulder issues” (how he failed his physical), they still owe him the extra $700k in roster bonuses.
I think this can only be described as a positive for the Mets. It may give them a little more spending room, and there’s no need to worry about Blanco getting injured now. It would save them money, and the team will have plenty of back-up options holding up the fort in AAA (Coste, Santos, Thole).