McCourt to Boras: Drop Dead

'yab, do you really think a guy who keeps thousands of dollars in the glove compartment of an unlocked car is going to think that deeply about anything?

It's a baseball thread. Can we please keep the really depressing economic stuff where it belongs?

 

No, this contract is deferred to the gills. In fact, I've never seen an MLB contract with this kind of deferred money.

NEW YORK (AP)—Manny Ramirez’s money from his new $45 million, two-year contract with the Los Angeles Dodgers won’t be fully paid until June 2013, according to contract details obtained Monday by The Associated Press.

Ramirez gets a $25 million salary this year, but just $10 million is paid up front. The rest is due in $5 million installments each June 30 in 2010, 2011 and 2012.

His contract calls for a $20 million salary in 2010, with $5 million payable up front. He is due two installments of $3,333,333 by June 30 in 2011 and 2012, and a final payment of $8,333,333 by June 30 in 2013.

Boras and Ramirez got taken to the woodshed on this. Boras started the offseason asking 4 years/$100. He ended by getting a contract with so much deferred, this season won't be fully paid until 2012.

 

Then you haven't been paying attention. Players keep collecting deferred money from clubs for years after their retirements.

And the bottom line on Manny's deal is that it was better for him than remaining in Boston, from both a comfort and financial standpoint.

 

Sure, from a "comfort" standpoint, what else are they going to say?

From a financial standpoint, no. He was going to make $40 mil for the next two years in Boston. With the deferred contract in LA, he's making roughly $42 million. Take into account the difference in state tax rates between the two states (10.3% vs. $5.3) and you have a wash.

 

And he has to pay Boras.

 

Yeah, but with the Boras team, you get those great financial advisors who "audit" your statements from Stanford Financial.