Actually if he "sucks" late in the deal, the Pirates can opt out of the last year (20 million) for $2 million. That's a nice hedge there.Seems like it. Though a part of me feels like it's $26M/year for 4 years and then the wheels fall off, haha.
... which would still be a discount in baseball.
So the guaranteed 7 years average about 12.25 million/year.
That covers his career until he's 35, and there is a very limited no trade clause that only cover 6 teams. So the Pirates are free to deal him to any of the other 24 teams in baseball whenever they want.
This is a pretty sweet deal, and if he continues to be a solid ML player, it is quite club friendly and should leave $$ to sign guys like Cruz and Crews when the time comes, or a couple of their up a coming starters.
Can easily see where the Pirates will have to spend between 150 and 200 million/year in a few years if they want to keep these guys around. But as someone said earlier, cross that bridge when they come to it.