Ken Rosenthal reports on the structure of the Stephen Strasburg contract:

Strasburg will receive a $7.5 million signing bonus, payable in three installments — $2.5 million 15 days after his deal is approved, $2.5 million on Jan. 10, 2010 and $2.5 million on Jan. 10, 2011.

He also will receive salaries of $400,000 this season (pro-rated), $2 million in ’10, $2.5 million in ’11 and $3 million in ’12.

“He’s chomping at the bit to get out on the mound. He’s ultra-, ultra-competitive,” acting Nationals general manager Mike Rizzo said, “and I think he was getting a little tired of sitting around the house.”

There was some speculation that the Nationals bought out his first year of arbitration, but I don’t know if that is true. Arbitration is based on service time, and the clock doesn’t tick until you are in the majors. So if he should spend next season at AA, he still gets paid, but doesn’t get service time. Even if he comes up this year, he won’t be a super-two at the end of 2011, so I don’t see this contract buying out arbitration at all.

My take is that the Washington front office did a good job. They paid a record amount, but a reasonable record amount. Boras came down a lot more than Washington went up if you believe he really asked for $50 million.

Hat tip, Nationals Enquirer.