The New York Mets will defer $15.5 million of the $138 million in David Wright's new eight-year extension. However, the deferred dollars were reduced significantly from the amount the club initially wished to defer.
The Mets will defer $3 million of Wright's $11 million salary in 2013, then $2.5 million annually from 2014 through 2018. Because of the deferrals, the total deal is valued at $134,015,678 by the Major League Baseball Players Association, sources said.
The team originally pressed for a greater percentage of deferred money, a demand that nearly caused discussions to unravel, according to a baseball official who was consulted on the negotiations. However, subsequent negotiations succeeded in reducing the deferred money to a level that was amenable to both sides.
Wright's contract calls for him to earn $11 million next year, $20 million in each of the following five seasons, then $15 million in 2019 and $12 million in 2020.
The $15.5 million in salary that is being deferred without interest is to be paid in equal installments of $3.1 million each June 30 from 2021-25.
The contract also includes numerous award bonuses. Wright would earn an additional $500,000 if he wins the MVP award, $1 million if he wins it a second time, and $1.5 million if he wins it a third time during the life of the deal. He would receive an additional $200,000 for any season in which he finishes second through fifth in the voting.
He also would collect $100,000 for making the All-Star team, another $100,000 if he receives the most All-Star votes in the league and $100,000 apiece if he wins a Sporting News, Baseball America or Associated Press player of the year award.
The contract calls for $100,000 bonuses if Wright wins the Gold Glove, Silver Slugger or Hank Aaron Award. It also contains postseason MVP provisions.
Wright will donate $1.38 million over the life of the contract to a charity designated by the Mets.
Information from The Associated Press was used in this report.