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
