It was Jose Altuve’s desire to retire as a member of the Houston Astros. Now, the soon-to-be 34-year-old can do just that.
Altuve and Houston agreed to a five-year extension on Wednesday evening, the team announced. The deal will keep Altuve in Houston through the 2029 MLB season. The deal is reportedly worth $125 million guaranteed with the bulk coming in the first few seasons of the extension.
— Houston Astros (@astros) February 6, 2024
The former American League MVP was set to become a free agent at the end of the 2024 MLB season.
Here’s what we know about the new Jose Altuve contract and how it affects the Astros moving forward.
A Look at the Jose Altuve Contract Extension
As already mentioned, Altuve was set to become a free agent at the end of the 2024 MLB season. Altuve –who was signed by the Astros in 2007 as an international free agent at 17-years-old – has played all 13 of his Big League seasons with Houston. He’s the longest tenured member of the roster and is the last member of the ballclub that played for the Astros when they were part of the National League.
A Boras Corporation client, Altuve is set to make $26 million for the 2024 MLB season. His $125 million extension will begin with the 2025 MLB season. Here’s how it breaks down:
- Signing Bonus: $15 million
- 2025: $30 million
- 2026: $30 million
- 2027: $30 million
- 2028: $10 million
- 2029: $10 million
Altuve will become the first second baseman in Major League Baseball history to accumulate $300 million-plus in career earnings.
Jose Altuve will be an Astro for Life agreeing to a 5-year contract extension with the @astros
— Space City Home Network (@SpaceCityHN) February 7, 2024
What Does the Jose Altuve Contract Extension Mean for the Houston Astros?
With Altuve staying in Houston for the remainder of his career, the Astros can now focus their efforts on keeping their championship core together.
Third baseman Alex Bregman will now be the focus for Houston and team owner Jim Crane. The 29-year-old is set to make $28.5 million in base salary in 2024, his final year with Houston before becoming an unrestricted free agent.
Like Altuve, Bregman has spent every season of his eight-year Major League career with Houston. Unlike Altuve, the belief is Bregman will command a massive contract if he were to become a free agent after the 2024 MLB season, a fact that is not lost on Houston owner Jim Crane.
In an interview with the Houston Chronicle, Crane acknowledged the lengths the club may need to go to in order to keep Bregman. Still, the Astros will make every effort to keep Bregman in Houston and that can be the focus now that Altuve has signed his extension.