• Update 2:05 PM: According to La Velle E. Neal III, sources say that the deal is 4-years $47 million which is$11.25 million per season. He also said that there's a $2 million buyout after 2011.
It's official, the Twins have agreed to a 3-year extension with Joe Nathan through 2011. They also have an option for a fourth year to possibly make him a Twin through 2012. The terms of the contract have not been made public, but it's expect to be between $11-12 million annually. If that's indeed the case, Nathan took a fairly substantial pay cut to stay in Minnesota. I'm curious to see whether or not the option for the fourth year will be a vested option.
The Twins' motto is "your bullpen is only as good as the guy at the end" and with that, the Twins have locked up the best closer in the game for the next 3-4 years.