The structure of Shohei Ohtani's new contract, now owned by the Los Angeles Dodgers, is sparking reactions from a variety of baseball fans and pundits, with some of them recalling one of the most famous schemes in sports history when it comes to payroll.
As the website The Athletic clarified on Monday, the Japanese himself suggested that the Californian club defer the majority of his salaries in order to help the club comply with the salary cap in force in the major leagues and thus recruit other impact players. After accepting a 10-year contract worth a total of $700 million, he will receive $2 million annually under this agreement and will receive the remaining $680 million between 2034 and 2043 without interest.
The case of former New York Mets Bobby Bonilla also came up again when the Ohtani pact was discussed. It must be said that even though the now 60-year-old played his last career game in 2001, his name is still mentioned by many fans, and for a very specific reason. Since 2011, July 1 has been a very profitable day for this former slugger, who is paid about $1.9 million annually after signing a five-year, $29 million contract in 1991. Furthermore, it should be remembered that payments – including 8% interest – will continue until 2035, when the school principal in question has reached the full age of 72.
Not the best decision, locally and in the bank
Mets management regretted the Bonilla episode, particularly the second chapter. Because the player had two stays in the Big Apple: while he had interesting performances from 1992 to 1995, notably completing 34 rounds in 1993, he was far less glorious when he returned to New York in November 1998. The eccentric manager Bobby Valentine was a veteran limited to 60 games the following year and then released.
However, even if Bonilla signed additional contracts with the Atlanta Braves and then the St. Louis Cardinals before his retirement, the Mets still owed him $5.9 million under the terms of the 1991 contract. The player's agent therefore proposed to the organization to pay the balance over a period from 2011 to 2035, which the club of the then owner, the fallen financier Bernard Madoff (died 2021), accepted.
On the field, the pact did not produce the expected results, although the Mets did participate in the 1999 World Series. To make matters worse, Bonilla enjoyed a championship between his two stays in New York, in 1997 with the Florida Marlins.
Other cases of default in baseball
- Ken Griffey Jr.: The Cincinnati Reds have paid him $3.6 million per year since 2009. Payments end next year.
- Manny Ramirez: The Boston Red Sox have paid him $2 million per year since 2011. Payments end in 2026.
- Bret Saberhagen: The New York Mets have paid him $250,000 per year since 2004. Payments end in 2028.
- Chris Davis: The Baltimore Orioles will pay him $9.16 million from this year through 2025. From 2026 to 2032 the total is $3.5 million per year. Payments will be $1.7 million between 2033 and 2037.
- Matt Holliday: The St. Louis Cardinals have paid him $1.5 million annually since 2020. Payments end in 2029.
- Rafael Devers: The Boston Red Sox will pay him $7.5 million per year from 2034 to 2043.