Holliday will be making salaries of $17 million for seven seasons, and of that, $2 million is deferred without interest, which reduces the present-day value.
The Cardinals' present-day assessment will be less than that of the union, because it uses a higher discount rate.
The deal, announced Thursday, includes a club option for 2017, which vests automatically if he finishes in the top 10 in the MVP race in 2016. Of that, $2 million would be deferred.
Holliday's incentive awards include: $50,000 if he makes the All-Star team; $50,000 for Gold Glove; $50,000 for Silver Slugger.
He gets $200,000 if he is named Most Valuable Player ($100,000 for second place; $50,000 for third). He gets $50,000 for Division Series MVP; $100,000 for LCS MVP; and $150,000 for being named the World Series MVP.
He has a full no-trade clause. And he gets a suite on the road.
In other words: Sweet.
Buster Olney is a senior writer for ESPN The Magazine.