People were throwing around numbers like $300 million, and this isn’t that. But it’s pretty incredible all the same: ESPN is reporting that the Dodgers and Clayton Kershaw have agreed on a seven year, $215 million contract, with an opt-out after five years. That breaks down to an average annual value of over $30 million a year.
There are good things for both sides here. The five-year opt-out provision gives Kershaw a chance to make even more than this if, come five years from now, he’s even better or still elite and the top dollars for pitchers have gone up. Put differently: the guy who just signed a gigantic deal at age 25 can do it again at age 30 is he wants to. The amount of money this young man stands to make in the next 10-12 years is mind-boggling.
And even if the the opt-out provision is not exercised, the Dodgers are only on the hook for Kershaw through his age-32 season, which does not present nearly the sort of risk that many mega-deals do, as they often take players through their late 30s or into their 40s.
Kershaw has won two of the past three NL Cy Young Awards and was the runner up the third time. He’s 77-46 in his career with a 2.60 ERA in 184 career games. In the past three seasons he is 51-23 with an ERA of 2.21.
He’s quite simply the best pitcher in the game. And he is now the highest paid player — on an average annual salary basis — in all of baseball.