Full details on deferrals in Santander’s contract with Jays emerge
The Toronto Blue Jays have gotten in on the newest MLB contract craze with their latest signing, and it has the potential to save them some money.
The Toronto Blue Jays have gotten in on the newest MLB contract craze with their latest signing, and it has the potential to save them some money.
The deferrals in Anthony Santander‘s five-year $92.5-million deal give the contract a present value calculated at $68.6 million, Sportsnet’s Shi Davidi reported on Thursday.
That calculation gives the contract an average annual value slightly above $13.7 million. Santander, 30, will get a signing bonus of $13.5 million, $6.75 million of which will be deferred. The deal will then pay the outfielder between $12.75 million and $16.5 million throughout, with $10 million deferred each season.
In successfully using deferrals for the first time, the Blue Jays reduced the 30-year-old’s average annual value enough to duck under the second Competitive Balance Tax threshold of $261 million, according to the numbers compiled by FanGraphs’ RosterResource.
The deal also includes a 2030 team option for either $15 million, or a $5 million buyout, which is deferred. Santander can opt out of the agreement in 2027, but Toronto will be able to negate his opt-out by triggering their own team option – increasing the total value of the contract to $110 million including the sixth-year option.
The switch-hitting slugger is coming off a season in which he hit a career-high 44 home runs, along with 102 RBIs and a .238/.308/.506 slash line.
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