Tom Lofton Signs Massive 5-Year, $100 Million Contract

By KYLE KEOUGH
DOUBLE DAY DAILY

Tom Lofton became the most expensive pitcher--and, along with Luis Picasso, the most expensive player, period--in Double Day history this morning, when he signed a 5-year contract with the Richmond Diamonds worth an estimated $100 million.

The 32-year-old far outpaced Rafael Mercado, who now looks like a bargain at 3 years and $60 million total. Lofton's signing is far and away the most expensive of this free agency, and the biggest since Luis Picasso's $100 million signing in season one.

The former Jackson pitcher has a 58-30 lifetime record with a 2.52 ERA. While he has his critics, who bemoan the pitcher's stamina, Lofton has also topped 200 IP the past two seasons, which is often considered the barometer for a reliable starting pitcher.

Lofton, a two-time All-Star with Jackson and Montreal, will join Mercado with the Diamonds. Never before have two teammates commanded the combined salary--$40 million--that Lofton and Mercado did. The Diamonds turned out to be the offseason's biggest spender, issuing out $160 million on two players.