Assessing Every Notable MLB Offseason Extension

Assessing Every Notable MLB Offseason Extension

From Matt Olson & Jose Ramirez to Wander Franco & Ke'Bryan Hayes, comprehensive financial breakdowns for 20+ MLB contract extensions signed this past offseason.

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Wander Franco (TB, SS)

11 years, $182,000,000 + one club option

Franco turned 70 games in 2021 into $182M last fall, an extraordinary feat for any player - but even more so as a member of the Rays organization. Franco’s $16.5M tax salary nearly equals the next two Rays’ average salaries combined ($8.9M, $8M), and ranks him 9th among MLB shortstops. The contract pays out $55M through his pre-arbitration and arbitration seasons, with a 5 year, $125M free agent contract added on from there. Even if the 3033 option is exercised, Franco will only be 32 when this deal expires.

  • Deal Years: 2022-2033
  • Age When the Deal Expires: 31 (32 with option)
  • Tax Salary: $16,545,455 (17% of the ‘22 Rays)
  • Signing Bonus: $5M
  • Cash Salaries: $1M, $2M, $2M, $8M, $15M, $22M, $25M, $25M, $25M, $25M, $25M, $25M option

» View the Complete Contract

 

Matt Olson (ATL, 1B)

8 years, $168,000,000 + one club option

Freddie Freeman’s replacement cost Atlanta 4 prospects + a lot of dough, but many believe this to be a tremendous move for a club in the thick of contention. Olson had two more years of arbitration remaining, and was projected to earn $12M this season. This new extension ups that to $15M for 2022, and $21M in 2023. From there, a 6 year, $132M free agent contract with an option for one year further factors in. The $21M AAV makes Olson the 4th highest average paid 1st Baseman in baseball, behind only Freeman, Goldschmidt, & Votto.

  • Deal Years: 2022-2030
  • Age When the Deal Expires: 35 (36 with option)
  • Tax Salary: $21,000,000
  • Cash Salaries: $15M, $21M, $22M, $22M, $22M, $22M, $22M, $22M, $20M option

» View the Complete Contract

 

Jose Berrios (TOR, SP)

7 years, $131,000,000

Toronto sent two prospects to Minnesota last July to acquire Berrios, and then rewarded him a few months later with an $18.7M per year extension through 2028, making him a Top 20 average paid starting pitcher. Berrios gets some trade protection on the deal, and the ability to opt-out after 2026, when he’ll be approaching age 33.

  • Deal Years: 2022-2028
  • Age When the Deal Expires: 32 (34 without opt-out)
  • Tax Salary: $18,714,286
  • Signing Bonus: $5M
  • Cash Salaries: $10M, $15M, $17M, $18M, $18M, $24M, $24M

» View the Complete Contract

 

Jose Ramirez (CLE, 3B)

5 years, $124,000,000

After much speculation about where Ramirez might be traded this offseason, Cleveland pulled a 180 and locked in their longtime MVP candidate to a notable extension. The deal includes a full no trade clause, adds $10M to Jose’s 2022 compensation, and carries a $20.1M tax salary - $14M more than any other Guardian. Everything about this contract makes it the largest in franchise history.

  • Years of Deal: 2022-2028
  • Age When the Deal Expires: 35
  • Tax Salary: $20,142,857
  • Cash Salaries: $22M, $14M, $17M, $19M, $21M, $23M, $25M

» View the Complete Contract

 

Byron Buxton (MIN, OF)

7 years, $100,000,000

It didn’t seem like this one was going to get done, but here we are. Buxton has seen action in just 187 games over the past three seasons, but his per-162-game data says he’s a 30 double, 25 HR, 20 stolen base player when the health gods are on his side. Minnesota bought out his final year of arbitration at $10M, then added $90M guaranteed through 2028. This is a franchise cornerstone contract - albeit a risky one.

  • Deal Years: 2022-2028
  • Age When the Deal Expires: 34
  • $10M+ of annual incentives available
  • Tax Salary: $14,285,714
  • Signing Bonus: $1M
  • Cash Salaries: $9M, $15M, $15M, $15M, $15M, $15M, $15M

» View the Complete Contract

 

Ketel Marte (ARI, 2B)

5 years, $76,000,000 + one club option

Marte has been one of the brighter spots on recently unsuccessful D-Backs squads, and was entering year 5 of a $24M extension that bought out his arbitration and then some. Arizona did right by him with a $76M base add-on, adding a $5M signing bonus to his 2022 compensation, and guaranteeing him through the 2027 season. There’s a few million more to be made each year if he can get himself back in the MVP conversation (4th in 2019). No other veteran Diamondback is signed past 2024.

  • Deal Years: 2023-2028
  • Age When the Deal Expires: 33 (34 with option)
  • Tax Salary: $4.6M in 2022; $15.2M 2023-2027
  • Signing Bonus: $5M
  • Cash Salaries: $8M, $11M, $13M, $16M, $16M, $14M, $13M option

» View the Complete Contract

 

Ryan McMahon (COL, 3B)

6 years, $70,000,000

The 4th notable Rockies extension is the biggest, locking in their 3rd baseman to $70M guaranteed, including $14M over the next two seasons to buy out his remaining arbitration term. McMahon becomes the 4th $10M+ CBT salary for Colorado in 2022, keeping him under contract through 2027.

  • Deal Years: 2022-2027
  • Age When the Deal Expires: 32
  • Tax Salary: $11,666,666
  • Cash Salaries: $5M, $9M, $12M, $12M, $16M, $16M

» View the Complete Contract

 

Ke’Bryan Hayes (PIT, 3B)

8 years, $70,000,000 + one club option

Hayes reportedly turned down a contract offer last offseason, but the two sides were able to come to terms this April on a deal that buys out all of his team control, plus at least 3 years of free agency. His 2022 salary was set to come in around $750,000 this year, but that’s been escalated to $10M per the new contract. He’ll account for less than $9M of CBT salary through 2029, a huge win for Pittsburgh.

  • Years of Deal: 2022-2030
  • Age When the Deal Expires: 32 (33 with option)
  • Tax Salary: $8,750,000
  • Cash Salaries: $10M, $10M, $7M, $7M, $7M, $7M, $8M, $8M, $12M option

» View the Complete Contract

 

Sandy Alcantara (MIA, SP)

5 years, $56,000,000 + one club option

Alcantara struck out 201 batters in 205 innings pitched across 33 starts last season, prompting the Marlins to buy out his 3 years of arbitration, plus at least two years of free agency through 2026. The 26 year old will make $20M across his arb seasons (2022-2024), then $34M thereafter, providing strong financial value for small market team’s ace.

  • Deal Years: 2022-2027
  • Age When the Deal Expires: 30 (31 with option)
  • Tax Salary: $11,200,000
  • Signing Bonus: $1.5M
  • Cash Salaries: $3.5M, $6M, $9M, $17M, $17M, $21M option

» View the Complete Contract

 

J.P. Crawford (SEA, SS)

5 years, $51,000,000 

The 27 year old had 3 more years of arbitration ahead of him. This new extension pays him $30M to cover those seasons, plus a 2 year, $21M contract to kick off his free agent eligibility. Crawford becomes just the second Mariner to carry a $10M+ tax salary on the roster (Robbie Ray, $23M).

  • Deal Years: 2022-2026
  • Age When the Deal Expires: 31
  • Tax Salary: $10,200,000
  • Signing Bonus: $5,000,000
  • Cash Salaries: $5M, $10M, $10M, $10M, $11M

» View the Complete Contract

 

Antonio Senzatela (COL, SP)

5 years, $50,500,000 + one club option

After a $3M arbitration salary for 2021, Colorado bought out his final two seasons of control at a combined $14.5M, locking him in through 2026, with an option to go one year further. The 27 year old made a career high 28 starts last season, posting 105 strikeouts and a respectable 4.42 ERA for a Coors Field pitcher.

  • Deal Years: 2022-2027
  • Age When the Deal Expires: 31 (32 with option)
  • Tax Salary: $10,100,000
  • Cash Salaries: $7.25M, $7.25M, $12M, $12M, $12M, $14M option

» View the Complete Contract

 

Ryan Pressly (HOU, RP)

2 years, $30,000,000 + a vesting option

Unlike many of the relievers who tacked on new deals this offseason, Pressly comes in the veteran variety. He posted 21 saves for Houston last year, with numbers to indicate he was the right choice for the foreseeable future. His $15M average salary ranks 4th among current closers, providing him $14M salaries each of 2023/2024, with a chance at another $14M in 2025 if he makes 50 appearances in each of those seasons. His $10M salary for 2022 remained untouched.

  • Deal Years: 2023-2025
  • Age When the Deal Expires: 35 (36 with the vest)
  • Tax Salary: $10M in 2022; $15M 2023-2024
  • Cash Salaries: $10M, $14M, $14M, $14M option

» View the Complete Contract

 

Matt Chapman (TOR, 3B)

2 years, $25,000,000

Toronto made splashes every which way this offseason, including the acquisition and immediate extension of Chapman from Oakland once the lockout lifted. Instead of a projected $9.5M arbitration salary for 2022, the near 29 year old with earn $13M this year, $12M next before hitting free agency at 30.

  • Deal Years: 2022-2023
  • Age When the Deal Expires: 30
  • Tax Salary: $12,500,000
  • Signing Bonus: $1M
  • Cash Salaries: $12M, $12M

» View the Complete Contract

 

Myles Straw (CLE, CF)

5 years, $25,000,000 + two club options

Acquired at the deadline from Houston last summer, Straw finished 2021 with 158 games played, 29 doubles, and 30 stolen bases, clearly enough production in his first full season to get Cleveland’s attention. Straw would have been eligible for arbitration this offseason, so this extension buys out all three years of arbitration, at least one year of free agency, and then two team options thereafter. It’s a 5 year, $25M deal in base value, but could be a 7 year, $39.75M contract if fully exercised.

  • Deal Years: 2022-2028
  • Age When the Deal Expires: 31 (33 with options)
  • Tax Salary: $5,000,000
  • Signing Bonus: $2M
  • Cash Salaries: $1.25M, $2.5M, $4.5M, $6M, $7M, $8M option, $8.5M option

» View the Complete Contract

 

Emmanuel Clase (CLE, RP)

5 years, $20,000,000 + two club options

The first of a trio of extensions in Cleveland went to their bullpen closer. Clase’s $4M average salary ranks 13th among active closers, and fully guarantees him through 2026, buying out two more years of pre-arbitration, and all three arbitration years.

  • Deal Years: 2022-2028
  • Age When the Deal Expires: 28 (30 with options)
  • Tax Salary: $4,000,000
  • Signing bonus: $2M
  • Cy Young/Award Bonuses Available
  • Cash Salaries: $1.5M, $1.5M, $2.5M, $4.5M, $6M, $10M option, $10M option

» View the Complete Contract

 

Manuel Margot (TB, OF)

2 years, $19,000,000 + a mutual option

The 27 year old has shown flashes of 5-tool talent at times with the Padres and now Rays, and was set to play out his final year of arbitration on a $5.6M salary. That compensation remains locked in, but he’ll now see guaranteed raises to $7M & $10M through 2024, with a chance at $12M thereafter based on Tampa’s decision. The compensation aligns with the Rays’ unwritten “high-mark” for veteran salaries in recent years, meaning it’s safe to assume he’s in their plans, and not just a tradable asset (yet).

  • Deal Years: 2023-2025
  • Age When the Deal Expires: 29 (30 with the option)
  • Tax Salary: $5.6M in 2022; $9.5M 2023-24
  • Cash Salaries: $5.6M, $7M, $10M, $12M option

» View the Complete Contract

 

Garrett Whitlock (BOS, RP)

4 years, $18,750,000 + two club options

Boston locked in their setup man (and potential backup closer) for the next 5 seasons, factoring in a $1M signing bonus to sweeten this year’s pot, with increasing salaries through 2026, buying out another pre-arb season, and all three arbitration years. There’s potential for real value here if Whitlock’s role is increased over the next few seasons.

  • Deal Years: 2023-2028
  • Age When the Deal Expires: 30 (32 with options)
  • Options can escalate $4M each based on production
  • Tax Salary: $4,687,500 (2023-2026)
  • Signing Bonus: $1M
  • Cash Salaries: $1M, $3.25M, $5.25M, $7.25M, $8.25M option, $10.5M option

» View the Complete Contract

 

Merrill Kelly (ARI, SP)

2 years, $18,000,000 + one club option

When it became clear that Kelly was going to be used as a near top of the rotation starter this season, Arizona did right by the 33 year old, tacking a $1M signing bonus onto his $5.25M salary, and adding $17M guaranteed through 2024, with an option to go another year further.

  • Deal Years: 2022-2025
  • Age When the Deal Expires: 35 (36 with option)
  • Tax Salary: $5,250,000 in 2022; $9M 2023-2024
  • Signing Bonus: $1M
  • Cash Salaries: $5.25M, $8M, $8M, $7M option

» View the Complete Contract

 

Max Stassi (LAA, C)

3 years, $17,500,000 + one club option

The 31 year old backstopper was heading into the final year of arbitration, set to earn $3M in 2022. The new deal adds another $14.5M through 2024, with the option for another year thereafter. He becomes the 10th CBT salary north of $5M for the Angels in 2022.

  • Deal Years: 2022-2025
  • Age When the Deal Expires: 33 (34 with option)
  • Tax Salary: $5,833,333
  • Cash Salaries: $3M, $7M, $7M, $7.5M option

» View the Complete Contract

 

C.J. Cron (COL, 1B)

2 years, $14,500,000

Cron was brought into Colorado on a minors contract last February, and rewarded the Rockies with 31 doubles, 28 homers, and 92 RBIs in 142 games. He’s now locked in through 2023 on a $7.25M average salary, 17th among 1st basemen.

  • Deal Years: 2022-2023
  • Age When the Deal Expires: 34
  • Tax Salary: $7,250,000
  • Cash Salaries: $7.25M, $7.25M

» View the Complete Contract

 

Elias Diaz (COL, C)

3 years, $14,500,000

The 31 year old backstopper was heading into the final year of arbitration, but now locks in at $4.8M per year through 2024, placing him 12th among catchers in terms of average pay.

  • Deal Years: 2022-2024
  • Age When the Deal Expires: 34
  • Tax Salary: $4,833,333
  • Cash Salaries: $3M, $5.5M, $6M

» View the Complete Contract

 

Harrison Bader (STL, CF)

2 years, $10,400,000

Bader was scheduled to earn around $3.75M from arbitration this year. Doubling that figure for next season would have meant around $11M over the next 2 seasons. His extension with St. Louis falls slightly short, but offers him a solid guarantee on his way to free agency around age 29.

  • Deal Years: 2022-2023
  • Age When the Deal Expires: 29
  • Tax Salary: $5,200,000
  • Signing Bonus: $1M
  • Cash Salaries: $4.7M, $4.7M

» View the Complete Contract

 

Miguel Rojas (MIA, SS)

2 years, $10,000,000

The 33 year old infielder has been in the Miami organization since 2014, and was rewarded with a $10M guarantee to handle the starting shortstop duties for at least 2022. He signed a near identical extension back in 2019.

  • Deal Years: 2022-2023
  • Age When the Deal Expires: 34
  • Tax Salary: $5,000,000
  • Cash Salaries: $5.5M, $4.5M

» View the Complete Contract