According to the front page of the official Cards homepage, Isringhausen and the team have agreed to a new contract extension. Before this, he was signed through this season ($9.25mil) with an option for '06 ($8mil vs. a $1.1mil buyout). Now he's locked in until '07, with an option for '08. The latest news on the Cardinals site doesn't specify contract terms, but an earlier article about an imminent contract quotes $7mil for '05, $8.75mil for '06 and '07, and $8mil for the '08 option, with a $1.25mil buyout. If these figures are correct, this appears to be a great deal for the Cardinals. Let's compare Izzy's numbers over the last few years to some other closers.

Now, when you think of elite closers, the first two that come to mind these days are Mariano Rivera and Eric Gagne.

Gagne  ($8mil in '05, $10mil in '06)
YEAR  G   SV  IP    H   BB   SO   ERA  H/9   BR/9  SO/9  BB/9  SO/BB
2002  77  52  82.1  55  16  114  1.97  6.01  7.98 12.46  1.75  7.13 
2003  77  55  82.1  37  20  137  1.20  4.04  6.56 14.98  2.19  6.85 
2004  70  45  82.1  53  22  114  2.19  5.79  8.74 12.46  2.40  5.18 

Rivera  ($10.5mil in '05 & '06, $10.5mil option for '07)
YEAR  G   SV  IP    H   BB   SO   ERA  H/9   BR/9  SO/9  BB/9  SO/BB
2002  45  28  46    35  11   41  2.74  6.85  9.39  8.02  2.15  3.73 
2003  64  40  70.2  61  10   63  1.66  7.77  9.55  8.02  1.27  6.30 
2004  74  53  78.2  65  20   66  1.94  7.44 10.30  7.55  2.29  3.30 

Isringhausen ($7mil in '05, $8.75 in '06 & '07)
YEAR  G   SV  IP    H   BB   SO   ERA  H/9   BR/9  SO/9  BB/9  SO/BB
2002  60  32  65.1  46  18   68  2.48  6.34  8.95  9.37  2.48  3.78 
2003  40  22  42    31  18   41  2.36  6.64 10.50  8.79  3.86  2.28 
2004  74  47  75.1  55  23   71  2.87  6.57  9.56  8.48  2.75  3.09 

The first thing I notice when I look at these numbers is just how amazing Eric Gagne is. I think in a few more years as he nears free agency, he will easily become the highest paid closer out there. Second, you can see that many of Isringhausen's numbers compare favorably to Rivera over the last few years. He gives up a few more walks, but his K/BB rate is still solid. I also notice that Jason has been surprisingly consistent in terms of his rate stats since coming to the Cards in '02. Many will claim that his velocity has diminished, and that injuries have been a problem, but when it comes down to it, he's a solid bargain in today's market.

The other beauty of this deal is that it gives Walt (ok, us fans) one less thing to worry about the next few years. Plus, this year alone, the deal cuts $2.25mil out of the budget, and only ups what he would've likely already made next year by $750k. Looks like just as Edgar was chasing the dollar signs, Isringhausen was figuring how how much of a hometown discount to give. Sometimes, when you get into statistics, you find yourself amazed at how much of your opinion about a player is based on things that have nothing to do with stats.