APNewsBreak: Sale's new deal includes $50M in deferred money
Chris Sale will have to wait until middle age to collect all his money from the Boston Red Sox.
His $160 million, six-year contract includes $50 million in deferred money that is not due to be paid until 15 years after it is earned, according to details obtained by The Associated Press.
A left-hander who turns 30 on Saturday, Sale already was guaranteed $15 million this season under the second option year of the contract he signed with the Chicago White Sox before the 2013 season. That deal wound up being worth $59 million over seven years plus award bonuses.
His new deal, announced last weekend, added $145 million over five years.
Sale keeps his $15 million pay for this year, adds $30 million salaries annually from 2020-22 and $27.5 million a year in 2023 and 2024. The $10 million in deferred money each season is due on June 30 in the 15th year after it was earned.
His base salary each year from 2021-24 can escalate based on Cy Young Award voting in the previous season: by $2 million for winning, $1.5 million for finishing second or third, $1 million for fourth or fifth and $500,000 for sixth through 10th.
Boston has a $20 million team option for 2025, and if that is exercised, $5 million would be deferred until June 30, 2040. The 2025 salary would become guaranteed if he finishes among the top 10 in Cy Young voting in 2024 and is healthy at the end of the 2024 season.
His option price would escalate by $2.5 million if he wins the Cy Young in 2023 or ’24, by $1.5 million if he finishes second or third in those years, $1 million if he finishes fourth or fifth and $500,000 if he finishes sixth through 10th.
Sale can opt out of the deal after the 2022 season and become a free agent. He gets the ability to block trades to three teams at the start of the 2020 season, and his permission is needed for all trades when he reaches 10 years of major league service during the first half of the 2021 season. If he is dealt before he has full no-trade rights, he would receive a $1 million assignment bonus from his new team.
He also can earn award bonuses starting in 2020: $100,000 for Cy Young, $75,000 for second and $50,000 for third; the same amounts for finishing first through third in MVP voting; $50,000 for making the All-Star Game; $50,000 for League Championship Series MVP; and $100,000 for World Series MVP.
Sale will still count as $15 million for Boston’s luxury tax payroll this year, with the money from the new deal applied starting in 2020.
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More AP MLB: https://apnews.com/MLB and https://twitter.com/AP_Sports
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