Pedroia money from Red Sox spread out until 2028
NEW YORK – Dustin Pedroia must wait until July 2028 to receive all the money from his $110 million, eight-year contract with the Boston Red Sox, which includes $18 million salary that is deferred without interest for seven years and a full no-trade provision that starts this Aug. 7.
The All-Star second baseman is making $10 million this year and had been due to earn the same amount next season under a $40.5 million, six-year contract that included an $11 million club option for 2015 with a $500,000 buyout.
Under the new deal finalized Wednesday, he receives a $1 million signing bonus payable within 30 days of approval by the commissioner’s office. He gets a raise to $12.5 million next year and receives the same salary in 2015.
His salary rises to $13 million in 2016, $15 million in 2017 and $16 million in 2018. It then decreases to $15 million in 2019, $13 million in 2020 and $12 million in 2021.
Each of the first four seasons includes $2 million in deferred money, and each of the final four includes $2.5 million. He will receive the money in four annual payments of $2 million each July 15 starting in 2021 followed by four payments of $2.5 million each July 15 starting in 2025.
The agreement negotiated by agents Sam and Seth Levinson gives him full no-trade protection in two weeks when he reaches seven years of major league service. Pedroia otherwise would have been entitled to it August 2016 under the provision in baseball’s labor contract that says 10-year veterans who have been with their teams for five years can’t be traded without their approval.
The 2008 AL MVP, Pedroia would earn $250,000 for winning the award again, $150,000 for finishing second, $125,000 for third, $100,000 for fourth and $75,000 for fifth.
A four-time All-Star, he would get a $50,000 bonus each additional time he makes the All-Star team. He would get $100,000 for World Series MVP, Gold Glove and Silver Slugger awards, and $75,000 for the league championship series MVP award.
As in his current contract, he gets a hotel suite on road trips. He also has the right to purchase six premium season tickets for home games during spring training, the regular season and the playoffs.