Devers signs 11 year $331 million extension

[moonslav59]

Does the deal officially start in 2024 or will the lux tax hit go from $17.5M to $30.1M for 2023?

 

I'm seeing conflicting reports.

 

If it counts for 2023, we have about $10M left under line one, and it now makes sense why we didn't spend much more, earlier.

 

$10M may still be enough to sign Andrus or trade for a contract, but we will likely keep something for the deadline.

[5GoldGlovesOF,75]

BTW, I wasn't defending their choices, including the Sale extension- just pointing out that they seem to feel it worth extending acquired players more than their own.

 

All part of the recent history that fans hate about this management -- especially, letting the best players go from the best team in Red Sox history.

 

Today is different... no matter how anyone tries to twist it into a repeat of patterns that led to Pablo Sandoval and Carl Crawford.

[Tedballgame]

I am extremely glad that the Red Sox signed Devers. Its not my money, right? He is a really good player and the Sox had to get him signed or the fan base would jump ship. That being said, this will probably be a bad deal in years 8-11. I hope not but if Raffy gives the Sox 7 really good years it will be hard to complain. Lets hope Mayer and some other youngsters turn out to be really good so they can be starters and contributors under cheap contracts.

[moonslav59]

I am extremely glad that the Red Sox signed Devers. Its not my money, right? He is a really good player and the Sox had to get him signed or the fan base would jump ship. That being said, this will probably be a bad deal in years 8-11. I hope not but if Raffy gives the Sox 7 really good years it will be hard to complain. Lets hope Mayer and some other youngsters turn out to be really good so they can be starters and contributors under cheap contracts.

 

36 is not really that far beyond prime, and that will be his age, year 11.

 

Most of his years will be before age 32. It's a great deal, on paper.

[mvp 78]

So much for "All my posts are perfect."

 

Blocked.

[Old Red]

Does the deal officially start in 2024 or will the lux tax hit go from $17.5M to $30.1M for 2023?

 

I'm seeing conflicting reports.

 

If it counts for 2023, we have about $10M left under line one, and it now makes sense why we didn't spend much more, earlier.

 

$10M may still be enough to sign Andrus or trade for a contract, but we will likely keep something for the deadline.

 

Raffy gets a $20M signing bonus up front, so how does that work out?

[moonslav59]

Raffy gets a $20M signing bonus up front, so how does that work out?

 

It's all averaged in on the AAV, but if the deal technically starts in 2024, I think the "signing bonus" cannot be given, now.

 

I think it is being called an extension, so it starts, now. $30.1`M x 11 on the tax line. $17.5M + $20M signing bonus for 2023.

[notin]

So much for "All my posts are perfect."

 

“Perfectly wrong” is still perfect…

[Bellhorn04]

It's all averaged in on the AAV, but if the deal technically starts in 2024, I think the "signing bonus" cannot be given, now.

 

I think it is being called an extension, so it starts, now. $30.1`M x 11 on the tax line. $17.5M + $20M signing bonus for 2023.

 

I think his 2023 AAV is only 17.5 mill. But we'll see.

[Hugh2]

I think his 2023 AAV is only 17.5 mill. But we'll see.

 

It all depends on when the contract kicks in. If the Contract doesn't start until 2024 then yes the AAV should only be 17.5 The way it was originally reported made it sound like an 11 year deal, but since appease to have been wrong. I'm still not 100% certain, as these things tend to be but I'm sure we will have some clarification soon. It may be out there right now as I've yet to wrap my head around the sports news this morning.

[Hugh2]

36 is not really that far beyond prime, and that will be his age, year 11.

 

Most of his years will be before age 32. It's a great deal, on paper.

 

I think it depends on the player. There's a large list and it's always growing of all-star players who hit a wall when they turn 30.

[moonslav59]

I think his 2023 AAV is only 17.5 mill. But we'll see.

 

MLBTR says $30.1

 

Fangraphs has $30.1M for 2023:

 

https://www.fangraphs.com/roster-resource/payroll/red-sox

 

I'm not sure who is right.

[Hugh2]

MLBTR says $30.1

 

Fangraphs has $30.1M for 2023:

 

https://www.fangraphs.com/roster-resource/payroll/red-sox

 

I'm not sure who is right.

 

I think MLBTR has it right, but I'm only 90% sure.

[moonslav59]

I think it depends on the player. There's a large list and it's always growing of all-star players who hit a wall when they turn 30.

 

True. Many hit the wall around 32 or 33.

 

Jim Rice dipped a little at 31, had two more decent years, then kinda declined quickly, and his age 36 year was pretty bad, but I think he has vision issues.

 

I like Devers approach, despite the free-swinging aspect. I think he'll be fine until age 32 or 33, and maybe not be a drag from 33-36.

[Bellhorn04]

MLBTR says $30.1

 

Fangraphs has $30.1M for 2023:

 

https://www.fangraphs.com/roster-resource/payroll/red-sox

 

I'm not sure who is right.

 

No, MLBTR says the AAV is 31.35, which would mean it starts in 2024 (313.5 / 10).

[Old Red]

The way I read the deal, and I’m far from saying I’m right, but Raffy gets a $20M signing bonus up front. He then gets $17.5M for 2023, so then wouldn’t that take the 10yrs left under $300M?

[moonslav59]

No, MLBTR says the AAV is 31.35, which would mean it starts in 2024 (313.5 / 10).

 

They kind of contradict themselves, and I think they even edited their previous opening paragraph that says... "Though many outlets reported this as an 11-year extension worth $331MM, Devers and the Sox had already agreed to a $17.5MM salary for 2023. By MLBTR’s standards, then, he agreed to a ten-year, $313.5MM extension today. "

 

Later, the article says this:

 

In the short term, this won’t change the makeup of the Red Sox on the field, since Devers was already going to be a part of the 2023 club. But it could have an impact on the financial ledger. Devers was previously set to have a $17.5MM count towards Boston’s luxury tax but that number will now jump to $30.09MM. The specific breakdown of the Devers deal isn’t known, but the competitive balance tax is calculated based on the average annual value of the deal, so the breakdown won’t change the CBT calculations.

[moonslav59]

The way I read the deal, and I’m far from saying I’m right, but Raffy gets a $20M signing bonus up front. He then gets $17.5M for 2023, so then wouldn’t that take the 10yrs left under $300M?

 

Yes, that is another way it may be structured.

 

$17.5M salary for 2023 + $20M bonus= $37.5M for 2023. That might put us over the tax line or very near it.

 

I think the tax line will either be $30.09M x 11 or $17.5M for 2023 and $31.3M x 10 afterwards, which would mean the signing bonus is paid in 2024 or counts towards that tax line number NOT 2023.

 

It's a bit confusing.

[Bellhorn04]

They kind of contradict themselves, and I think they even edited their previous opening paragraph that says... "Though many outlets reported this as an 11-year extension worth $331MM, Devers and the Sox had already agreed to a $17.5MM salary for 2023. By MLBTR’s standards, then, he agreed to a ten-year, $313.5MM extension today. "

 

Later, the article says this:

 

In the short term, this won’t change the makeup of the Red Sox on the field, since Devers was already going to be a part of the 2023 club. But it could have an impact on the financial ledger. Devers was previously set to have a $17.5MM count towards Boston’s luxury tax but that number will now jump to $30.09MM. The specific breakdown of the Devers deal isn’t known, but the competitive balance tax is calculated based on the average annual value of the deal, so the breakdown won’t change the CBT calculations.

 

You're right, it's confusing.

 

I'm betting that the 2023 AAV is 17.5. I think the Sox would have set it up that way to give them more flexibility this year.

[moonslav59]

You're right, it's confusing.

 

I'm betting that the 2023 AAV is 17.5. I think the Sox would have set it up that way to give them more flexibility this year.

 

Starting the deal in 2023 just marginally helps them the next 10 years (about $1.1M per year), but it would explain why they have not signed Andrus or didn't sign Bogey, too.

 

The signing bonus part makes it seem like it starts in 2023.

[sk7326]

There was no reason to extend an injured Chris Sale.

 

Of all the decisions the management made, that was the one where you felt like they were ducking lightning bolts as they made the deal.

 

The Price deal blew up in their face, but there was nothing in his past that indicated the medical issues. (or the other stuff)

[moonslav59]

cots has the Devers contract as the 6th highest of all time, in total value at $331M. That's $1M more than Bryce Harper's 13 year deal and $6M more than Seager's 10 year deal.

 

In terms of $millions per year, he ranks 21st at $30.09M just behind Betts at $30.42M and ahead of these $30M players:

Scherzer x 7

Machado x 10

Ohtani x 1

 

Price still remains the all time Sox leader in AAV at $31M x 7.

Edited January 5, 2023 by moonslav59

[moonslav59]

Of all the decisions the management made, that was the one where you felt like they were ducking lightning bolts as they made the deal.

 

The Price deal blew up in their face, but there was nothing in his past that indicated the medical issues. (or the other stuff)

 

I think they wanted to avoid having to pay Sale $218M x 7 after 2019.

[Bellhorn04]

Starting the deal in 2023 just marginally helps them the next 10 years (about $1.1M per year), but it would explain why they have not signed Andrus or didn't sign Bogey, too.

 

The signing bonus part makes it seem like it starts in 2023.

 

But signing bonuses are always spread out over the deal for AAV purposes.

 

I think the real clue is that they announced the arbitration settlement first, then the extension. That seems to indicate they wanted to set his 2023 AAV at the lower amount.

[Bellhorn04]

cots has the Devers contract as the th highest of all time, in total value at $331M. That's $1M more than Bryce Harper's 13 year deal and $6M more than Seager's 10 year deal.

 

In terms of $millions per year, he ranks 21st at $30.09M just behind Betts at $30.42M and ahead of these $30M players:

Scherzer x 7

Machado x 10

Ohtani x 1

 

Price still remains the all time Sox leader in AAV at $31M x 7.

 

Yes, until we get Raffy's damn AAV clarified.

[Bellhorn04]

Of all the decisions the management made, that was the one where you felt like they were ducking lightning bolts as they made the deal.

 

Nicely put.

[mvp 78]

Yes, until we get Raffy's damn AAV clarified.

 

Still a lot of conflicting information out there. Regardless, just glad it was done.

[Hugh2]

The AAV is 17+ for 2023 and the deal is a 10 year that kicks in after next season. The Reason for the confusion is that it was initially reported incorrectly.

 

Unless of course the reporting correcting the earlier reporting turns out to be wrong as well, which I doubt at this point, but it wouldn't be a very big shock either.

 

We should have clarity soon.

[moonslav59]

But signing bonuses are always spread out over the deal for AAV purposes.

 

I think the real clue is that they announced the arbitration settlement first, then the extension. That seems to indicate they wanted to set his 2023 AAV at the lower amount.

 

I thought so, too, but I'm not sure they can give a singing bonus in 2023, but have it count and be spread out from 2024 to 2033.

[dgalehouse]

I think this signing was almost in the mandatory category. There was a growing fan rebellion that surely was heard in the Fenway Sports Group offices. As in all of these deals, there are risks Involved and time will tell if it pays off or goes sour. Hope it pays off in a big way.