NEWSLETTER
The Chicago Cubs briefly dabbled with deferred money – i.e., paying a portion of a player’s contract way out into the future, reducing the initial hit and also decreasing the present value of the contract – around the time of the sale to the Ricketts Family, but, generally speaking, it hasn’t been part of their contractual M.O. For that reason, we don’t really think about deferring salary when discussing future Cubs contracts; it just isn’t on our minds.
Who knows? Maybe in order to sign a real whopper this offseason or next offseason or whatever, the Cubs will start getting into that world. Sometimes players don’t mind the security of knowing some of their payments will be spread out long into their post-playing days. And, given that it decreases present value, it’s not – in isolation – a bad thing for organizations to do, even as it does create some Bobby Bonilla-inspired yuks many years later.
With money on the brain, I saw something funny on MLBTR about the Cardinals:
Fun fact: the Cardinals owe Jim Edmonds $300,000 in 2019. (h/t @mlbtraderumors)
— Bleacher Nation (@BleacherNation) December 14, 2018
So that got me doing some Googling about deferred salary around MLB, and I found this post, which had gathered a bunch of tweets with some of the crazy deferments currently active. I thought you would enjoy. So enjoy:
The Washington Nationals have to cut a check to Rafael Soriano for $2,000,000 as a deferred payment in 2018 through 2024.
— Michael Mayer (@mikemayerMMO) July 1, 2018
The Nationals are the patron saint of deferring payments. I mean, look at that! They only just STARTED paying Rafael Soriano for the second year of his 2013 two-year contract!
The deferments to Stephen Strasburg and Max Scherzer are the whoppers:
The Washington Nationals agreed to give Max Scherzer deferred payments of $15 million each July 1 from 2022 to 2028.
— Michael Mayer (@mikemayerMMO) July 1, 2018
So, by way of example, in 2028, when Strasburg is 40 and Scherzer is 44, and neither has been with the team for years, the Nationals will be paying the duo $25 million.
Interrupting the Nationals for a moment with a Ryan Braun appearance:
The Washington Nationals will pay Jayson Werth a one-time deferred payment of approximately $11 million in 2018.
— Michael Mayer (@mikemayerMMO) July 1, 2018
Holy Ken Griffey, Jr.:
The Cincinnati Reds began giving Ken Griffey Jr. a deferred payment of $3,593,750 in 2009 and continue to do that annually through the year 2024.
— Michael Mayer (@mikemayerMMO) July 1, 2018
The Mets are still paying Johan and the Red Sox are still paying Manny:
The Boston Red Sox will give Manny Ramirez a deferment payment of $2,003,389 this year and will continue with that annual payment through 2026 at 2.5 percent interest.
— Michael Mayer (@mikemayerMMO) July 1, 2018
These two are blowing my mind:
The Baltimore Orioles will give Chris Davis 15 deferred payments, $3.5 million annually in 2023 through 2032 and $1.4 million annually in 2033 through 2037.
— Michael Mayer (@mikemayerMMO) July 1, 2018
These two might be as good as the Bobby Bonilla payments, though:
The Atlanta Braves are still paying Bruce Sutter $1.12 million a year in a deferred payment through 2021 and he will also receive a final balloon payment of $9.1 million.
— Michael Mayer (@mikemayerMMO) July 1, 2018
Bruce Sutter last pitched 30 YEARS AGO.
