Brewers: Contract Details For Wade Miley's One Year Deal To Return To Milwaukee

The Milwaukee Brewers have stayed busy on the first day of the 2023 Winter Meetings. First, they announced the record-breaking contract extension for 19 year old superstar Jackson Chourio. Then they signed free agent starter Joe Ross to a major league contract. Shortly after that, they made official the re-signing of Wade Miley.

Miley, 37, comes back to Milwaukee after declining his end of a $10MM mutual option for the 2024 season. Even if he didn't decline his end, the Brewers likely would've declined their end as mutual options are rarely exercised.

He went to the open market but a reunion between the two sides always seemed to make sense, and they got it across the finish line.

The Brewers made official their signing of lefty Wade Miley to a one year contract with a mutual option for 2025.

ESPN's Jesse Rogers had the details on Miley's contract. Miley will earn a $7MM base salary next season. There are $4MM in total incentives for Miley. The breakdown is as follows.

50 IP - $250k
75 IP - $250k
100 IP - $500k
125 IP - $750k
150 IP - $750k

That still leaves $1.5MM in possible incentives, which will likely include Cy Young voting results, but it's not immediately clear if Cy Young voting covers all of the remaining possible incentives of the $4MM available, per Rogers.

Miley's mutual option for 2025 is valued at $12MM with a $1.5MM buyout. That brings the total guarantee on the contract to $8.5MM for Miley.

Miley pitched 120 IP last season with a 3.14 ERA. He had a key role on the team as a veteran leader in the rotation and clubhouse. His clubhouse presence and leadership was valued throughout the clubhouse and as the team continues their youth movement, that's going to be even more valuable for the Brewers in 2024.

The Brewers can slot Miley in as their No. 3 or 4 starter right now. Corbin Burnes, Freddy Peralta, and Adrian Houser are the current mainstays in that group. Miley arguably can be put ahead of Houser based on his strong performance last year, but the order doesn't necessarily matter too much right now.

Miley's re-signing gives the Brewers four surefire starting pitchers that will be in the rotation next season, and Miley is the only lefty of that group. Colin Rea is currently the 5th option but the Brewers are likely to add another arm to the mix that could take that spot over him. There's also Aaron Ashby and Janson Junk on the 40 man roster.