The Los Angeles Dodgers are committing to a staggering financial obligation, but is it worth it? They've signed a deal with Edwin Diaz, a star closer, for $69 million, but there's a catch. The Dodgers are now on the hook for a mind-boggling $1.06 billion in deferred payments to nine players, including Diaz, over the next few decades.
But here's the twist: Diaz won't see most of his money until 2047! His contract, announced recently, includes a $9 million signing bonus due in February, followed by a $14 million salary in 2024 and a hefty $23 million in each of the next two seasons. However, the Dodgers will defer $4.5 million of his salary each year, spreading out the payments.
The deferred payments for Diaz are scheduled in 10 equal parts, due on July 1st of each year from 2036 to 2047. And this is just one piece of the puzzle. The Dodgers have also committed to deferred payments for several other big names, such as Shohei Ohtani ($680 million), Mookie Betts ($115 million), and Freddie Freeman ($57 million).
Diaz, a three-time All-Star, had an impressive 2023 season with 28 saves and a 1.63 ERA. But the Dodgers' bullpen has been a weak spot, and they're hoping Diaz can help turn things around. The team is clearly investing in long-term success, but some might question the wisdom of such massive deferred payments.
And this is the part most fans might miss: Diaz's previous contract with the Mets also included deferred money, but he gave up $38 million to join the Dodgers. So, the question remains: Is this financial strategy a genius move or a potential burden for the Dodgers' future? Share your thoughts below!
