NEW YORK (AP) Contracts for Blake Snell and Tommy Edman increased the Los Angeles Dodgers’ obligations for deferred payments to more than $1 billion owed to seven players from 2028-46.
Snell’s $182 million contract, announced Saturday, includes $66 million in deferred money payable to the pitcher through July 1, 2046, according to contract terms obtained by The Associated Press.
Edman’s $74 million, five-year deal, announced Friday, includes $25 million payable to the infielder and outfielder through July 1, 2044.
Los Angeles now owes deferred payments of $1,006,500,000 to seven players from 2028-46.
“It’s just how you account for it,” Dodgers president of baseball operations Andrew Friedman said Tuesday at a news conference to introduce Snell. “You have to fund a lot of it right now, and having that money go to work for you, we have - a lot of our ownership group are from financial background and can have that money going to work right now, and just making it - not something that sneaks up on us. We’re not going to wake up in 2035 and (say): ‘Oh my God, that’s right. We have this money due.’ We’ll plan for it along the way.”
Snell’s average is discounted to about $31.4 million annually for the Dodgers’ luxury tax payroll and Edman to approximately $12.9 million.
Snell gets a $52 million signing bonus payable on Jan. 25 and yearly salaries of $26 million, of which $13.2 annually will be deferred. The deferred money is payable in equal installments each July 1 from 2035-46.
“I think it’s just how it all played out,” Snell said. “It just played out the way that people around me felt comfortable with. I felt comfortable with. They felt comfortable with. We talked. Found something that could work for both of us and it’s kind of how we went with it. But, yeah, I’m more focused on playing than money.”
Los Angeles has a $10 million conditional club option for 2023 that could be exercised if Snell has a qualifying injury as specified in the contract and he spends 90 or more consecutive days on the injured list due to the qualifying injury and he has not been traded.
If Snell is traded, he would receive a $5 million assignment bonus, payable by the acquiring team.
He gets a hotel suite on road trips.
“If you get a $52 million signing bonus, deferrals are good,” said Snell’s agent, Scott Boras.
Edman receives a $17 million signing bonus payable on Dec. 10, a $5 million salary next year and $12.25 million in each of the final four seasons, of which $6.25 million annually will be deferred. The Dodgers have a $13 million option for 2030 with a $3 million buyout.
Edman’s deferred money for each year will be paid in three installments, with each payment due on July 1:
- for 2026, $2.5 million each in 2035 and 2036, and $1.25 million in 2037.
- for 2027, $1.25 million in 2037, and $2.5 million each in 2038 and 2039.
- for 2028, $2.5 million each in 2040 and 2041, and $1.25 million in 2042.
- for 2029, $1.25 million in 2042 and $2.5 million each in 2043 and 2044.
Snell and Edman each will make a 1% charitable contribution from their salary.
Two-way star Shohei Ohtani is due $680 million from 2034-43 as part of a record $700 million, 10-year contract through 2033.
“I think the Shohei one was just very extreme,” Friedman said. “But if you set the Shohei contract aside, the rest are all within the norm and standard operating procedure that a lot of teams have done. But I think the Shohei one is just jarring to people because it’s so different and I think that the others just unfairly get lumped into that, but I think it’s kind of a lazy narrative.”
Infielder/outfielder Mookie Betts is owed $115 million in salaries from 2033-44 and the final $5 million of his signing bonus payable from 2033-35, all part of a $365 million, 12-year contract through 2032.
First baseman Freddie Freeman is owed $57 million from 2028-40 in a $162 million, six-year contract through 2027.
Catcher Will Smith is due $50 million payable from 2034-43 as part of a $140 million, 10-year contract through 2033.
Outfielder Teoscar Hernández will get $8.5 million from 2030-39 as part of a $23.5 million, one-year deal for 2024.
“I think a little bit with having a number of our kind of star players with deferrals, I think has made it something that guys have no issue with and in some cases may even desire,” Friedman said. “At times where we’ve gotten to a little bit of an impasse on a deal and either their side’s brought it up or us, at times it’s really helped provide - helped close that last mile.”
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