In baseball, how do rookie player contracts work?

Question

For example: Dustin Pedroia is a rookie playing for the Red Sox. I believe the Red Sox hold his rights for a period of time, until he's allowed to become a free agent, or the team re-signs him. How does this rule work? How is his salary determined? Do this type of players make the MLB minimum wage?

Answering that, can somebody also tell me the actual contractual status of Red Sox players over the next years?

What does a rookie's contract not being guaranteed imply?

Answer 1

Rookie players coming through your teams system will be given the following offers(ARB):
a. The FIRST (1ST)year of a rookies contract will be worth
$0.3
b. The SECOND (2ND) year of a rookies contract will be
worth $0.5
c. The THIRD (3RD) year of a rookies contract will be worth
$0.7
d. The FOURTH (4TH) year of a rookies contract will be worth
$0.8
e. The FIFTH (5TH) year of a rookies contract will be worth
$1.0
f. The SIXITH (6TH) year of a rookies contract will be worth
$1.5

7. Rookie contracts are NOT guaranteed.
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The link below will lead you to the contracts of the players (as of today)...as you can see, Mike Lowell is not listed :( Let's keep hoping

Answer 2

Mlb Rookie Contracts

Answer 3

This Site Might Help You.

RE:
In baseball, how do rookie player contracts work?
For example: Dustin Pedroia is a rookie playing for the Red Sox. I believe the Red Sox hold his rights for a period of time, until he's allowed to become a free agent, or the team re-signs him. How does this rule work? How is his salary determined? Do this type of players make the MLB...

Answer 4

Laurie S got it essentially correct. There could be minor adaptations in specific contracts.