MLB: The 20 biggest contracts in professional sports

While the MLB brass act as if the sport is falling apart, the sports contracts given to MLB players proves that baseball isn’t struggling at all.

In fact, when looking at the largest sports contracts today, baseball players have more of them than any other sport. And, it is clear that baseball is making more money than ever before.

Interestingly, a handful of the biggest contracts in MLB history and in sports history were all signed during the 2019 calendar year.

There are several reasons why MLB has the richest players. The first is that the league does not have a cap on salaries. All of the other major sports in the United States have salary caps. For 2019, the NFL has a cap of $188.2 million. The NFL approves or denies deals so no team can go over the salary cap, therefore, there is not a penalty for exceeding it. The highest paid NFL player is Andrew Luck, who will make $139 million after his six-year contract is over in 2021.

The NBA also has a salary cap, which is $109 million in 2019. Teams can go over the cap, but they pay a luxury tax. The NHL has a salary cap, too. In 2019, NHL teams have to stay at or below $83 million. It’s safe to say that no hockey player will have a salary anywhere close to those paid to baseball players.

Another reason MLB players have the highest salaries is the guaranteed money. In some sports, money is tied only to winnings. Boxing has always been a lucrative sport. Floyd Mayweather, Jr is reportedly worth somewhere between $800 million and $1 billion. Auto racing is also lucrative if you can get into the big races. In 2011, Dale Earnhardt, Jr. made $28 million. Their annual salaries come from prize winnings and sponsorships, so the money is not guaranteed from year to year.

In MLB, the cap does not exist, but there is a luxury tax. Teams in smaller markets, like Cleveland and Milwaukee, work hard to stay below the luxury tax. But, big teams with immense amounts of revenue can afford to exceed the luxury tax limit. And, teams have figured out how to keep their players at lower salaries for longer periods of times by manipulating the language in the current contract.

Let’s take a look at these massive contracts.

While looking at the biggest contracts in the history of sports, the top 20 are all being paid to athletes who are currently playing – with the exception of two athletes.

The 21st biggest contract belongs to Derek Jeter who was paid $189 million for the 10 years between 2001 and 2010. With the money given out today, this seems paltry, doesn’t it?

#20

As we get into the list of current athletes, the 20th highest player in sports is Stephen Curry of the Golden State Warriors. When he signed his contract in 2017, he was the highest paid NBA player in the history of the game. His current contract is for five years 2017-2022 and for $201 million. His average annual value (AAV) is slightly more than $40 million.

#19

Curry is no longer the highest paid basketball player. In 2018, Russell Westbrook signed a slightly bigger contract for five years. His contract is for $206 million with an AAV of $41 million. As the cap increases, it’s safe to say that someone will soon make more.

#18

Here’s where baseball gets going. Zack Greinke received a lucrative contract from the Diamondbacks in 2016. This contract made him the highest paid pitcher with an annual average value of $34 million, which works out to $206.5 million in the six-year deal.

#17

While Greinke’s contract had the highest AAV, Max Scherzer‘s contract was for more money and one more year. The Nationals are paying him $210 million for seven years, but some of the money in the complicated contract is deferred. His AAV is $30 million.

#16

This contract is one that includes the dreaded words, “Dead Money.” This is money paid to players who are no longer on your team. The Detroit Tigers signed Prince Fielder to one of the most lucrative contracts in history, $214 million for nine years. The team was hoping to recapture the magic that his father Cecil Fielder brought to the team in the 1980s, but the son was not the father. Instead, Fielder needed to be traded, so he was, but not all of his contract went with him to the Texas Rangers at the close of the 2015 season.

The Tigers are still on the hook for two more years at $6 million. The Rangers are on the hook for $9 million for two more years. Fielder retired in 2017 and was released from his contract.

Contracts 20-12 aren’t a joke, but the big boys are in the top 10. These contracts belong to the athletes who can hit a baseball like very few others can.

#10 Tied

Robinson Cano and Albert Pujols both received 10-year contracts worth $240 million. Pujols received his in 2012 and Cano received his in 2014. Pujols is a 10-time All-Star.  He will be 41 when he retires from playing, but the Angels have him for another 10 years on a personal-services contract where he will work with the front office or in the clubhouse. There is no doubt that Pujols will be a first-ballot Hall of Famer as soon as he can be put on the ballot.

Cano’s journey has had bumps along the way. He’s an eight-time All-Star but has had issues with PEDs. His big deal came from the Seattle Mariners, but in their effort to rebuild, he was traded to the New York Mets. Both men have AAVs of $24 million.

#9

The Tigers show up several times on this list due to their former owner’s penchant for big spending. Miguel Cabrera was signed to an eight-year deal to lock him down as a Tiger for life. His contract runs from 2016 to 2023 and is for $247 million. His AAV is $31 million. The Triple Crown winner, two-time MVP, and 11-time All-Star has been worth every penny.

#8

This next player shows up twice as two teams wanted to pay him big bucks. Alex Rodriguez set the standard for massive contracts when he first joined the Texas Rangers. They signed him to a 10-year contract from 2001-2010. He earned $252 million. He remained with the Rangers for three seasons before the Yankees decided they needed him.

#7

For a very short amount of time this off-season, this contract set the record for a position player and AAV. Nolan Arenado falls into this position with his eight-year contract for $260 million. His AAV was a record-setting $32.5 million. If you’ve been watching the Rockies during Spring Training, it’s been easy to see that Arenado is living up to the deal. In 19 games he’s hitting a slash of .392/.436/.745. He went 3-3 with two doubles off Jon Lester in Friday’s game against the Cubs.

#6

This ranking belongs to Alex Rodriguez, too. He signed a second 10-year deal with the Yankees after his first one ran out. They signed him a record-setting $275 million for 10 years. After all of his multiple troubles with PEDs and arguments with the front office, he was released from the contract in 2016. Despite his 14 All-Star invitations and his three MVP awards, it’s unlikely he will be voted into the Hall of Fame.

#5

The 2019 off-season promised to have some big signings and Manny Machado was certain to get one of them. The Platinum Glove winner signed a contract that surprised most fans, not because of the amount, but because of the team. The San Diego Padres made Machado an offer he couldn’t refuse: 10 years at $300 million. At the time of his signing, he had the highest AAV for a position player – until Arenado signed his extension with the Rockies.

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#4

For a few years, Giancarlo Stanton had the richest contract in all of sports. The Miami Marlins recognized that the bigger-than-life slugger was worth a 12-year deal at $325 million. His AAV is $25 million and he will continue getting that salary until 2027. The slugger was traded to the Yankees in 2018 and had a few struggles, but during this Spring Training, he seems to have developed some comfort in pinstripes. He’s hit four home runs so far and the only Yankee with more is fellow slugger Aaron Judge (who will most likely join this list when he reaches free agency).

#3

After Machado signed his contract, this one set a new record. Where Bryce Harper would go was the biggest question on the 2019 off-season. The answer was Philadelphia. Harper signed for 13 years at $330 million, setting an MLB record that didn’t last long. While the amount was impressive, the most surprising part was that Harper and the Phillies agreed on a no-trade clause, too.

#2

Until last week, the richest sports contract belonged to an athlete that most MLB fans have never heard of – boxer Canelo Alvarez. His contract is for 11 fights and $375 million. The organization that signed him is DAZN, a streaming app that provides live and on-demand video for boxing fans. Think of it like MLB TV for boxing fans. It is clear that boxing is still a popular sport.

#1

This honor belongs to the best baseball player on the planet: Mike Trout. The Angels signed him to a 12-year contract for a record-setting $426 million. He will make an AAV of $35.5 million, making him the highest paid athlete for his total contract and for his annual salary. The contract was made official a few days ago. It brings many questions with it. Will the Angels surround Trout with players (especially pitchers) who can help him get the team to the playoffs? How will this contract affect those of the next round of top players (think Mookie Betts)?

It’s clear that the sport to choose is baseball, especially when considering the salaries. The best part for all of these MLB athletes is that the contracts are guaranteed. They get this money no matter what happens.