ST. PETERSBURG, Fla. -- Juan Guzman is guaranteed $12.5 million in his new two-year contract with the Tampa Bay Devil Rays, but much of the money is deferred.

	Guzman

Guzman, 33, was a combined 11-12 with a 3.74 ERA in 33 starts for Baltimore and Cincinnati.

He gets $6 million in each of the next two seasons under the deal agreed to Friday night, and Tampa Bay has a $7 million option for 2002 with a $500,000 buyout.

In the first two years, $3 million a season is deferred at 3 percent interest, payable in the first and second years after the contract ends.

If the option is exercised, $3.5 million of the 2002 salary is deferred until the third year after the contract ends. The option would become guaranteed if he has 55 starts combined in the next two years, or 30 starts or 200 innings in 2001.

He also can earn $1 million per season in performance bonuses: $125,000 for 180 innings, $175,000 for 200 innings, $200,000 for 210 innings, $300,000 for 220 innings and $100,000 each for 32 and 34 starts.

Tampa Bay wanted a pitcher to replace Rolando Arrojo, traded last month to Colorado in a four-team deal that brought hard-hitting third baseman Vinny Castilla. Guzman's contract includes a club option for a third year.

The Devil Rays, who also signed slugger Greg Vaughn last month, are coming off a last-place finish in the AL East, going 69-93 in their second season.

Guzman was traded from Baltimore to Cincinnati last July 31. He was 6-3 with a 3.03 ERA in 12 starts for the Reds, helping them reach a wild-card playoff with the New York Mets.

The right-hander is 91-78 with a 4.03 ERA since making his major league debut with Toronto in 1991. He has pitched 239 games, all of them starts.

Guzman pitched in the World Series for Toronto in 1992-93. He is 5-0 in five starts in the AL championship series.

Guzman led the AL with a 2.93 ERA in 1996 with the Blue Jays. He was an All-Star in 1992.

In addition, Tampa Bay agreed to one-year contracts with right-hander Cory Lidle and left-hander Tony Saunders, avoiding salary arbitration.

The Devil Rays also designated outfielder Luke Wilcox for assignment. They have 10 days to trade, release or ask waivers on him.