Verlander and Valdez will get final payments of $31 million deferred money from Tigers in 2039
Justin Verlander and Framber Valdez will receive the final payments from their new contracts with the Detroit Tigers in 2039, with the team deferring $31 million of the $128 million it committed to the pitchers.
Verlander’s $13 million, one-year deal will pay the 43-year-old right-hander $2 million this year. The $11 million in deferred money due the three-time Cy Young Award winner will be paid in $1.1 million installments each June 30 from 2030-39, according to contract terms obtained by The Associated Press.
Valdez’s $115 million, three-year agreement includes a $20 million signing bonus paid in $2 million installments each June 15 from 2030-39.
He gets salaries of $17.5 million this year and $37.5 million in 2027. The deal includes a $35 million player option for 2028 and a $40 million mutual option for 2029 with a $5 million buyout.
Valdez’s salary each year from 2027-29 can increase based on awards in the immediate preceding season as long as he doesn’t finish the prior season on the injured list. A salary would go up by $2 million if he wins a Cy Young Award, $1 million if he finishes second and $500,000 if he comes in third. It also could escalate by $2 million for winning World Series MVP and $1 million for winning ALCS MVP.
A 32-year-old left-hander, Valdez is a two-time All-Star and 2022 World Series champion.
Detroit’s deferred obligations are a small fraction of the commitments made by the two-time champion Los Angeles Dodgers, who owe $1,094,500,000 in deferred payments to 10 players from 2028-47.
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AP MLB: https://apnews.com/hub/MLB