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It seems you were offering 1/3 of the contract as a bonus, that seems a little high to me. Most major league contracts are for a base salary. If he was injury prone or coming off a bad year, I can see the large bonus, but there was not enough of a reward. I could see if he was offering 15M for 4 and you countered with 5 years, 12.5 base with 8M in bonus, then he has a lot to gain (and you lose some risk). It is a win win for both guy. If he gets hurt, you get a discount. If he is healthly, he gets a reward.
I think this approach would make sense, but I have not tested it.
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