$418.5MM Ain’t What it Used to Be

Hugh Atkins

I recently ran across a list of the 10 highest paid players in Major League Baseball and was amazed by how much cash will be spent on players who will begin the season on the injured list, have not performed very well since signing their big contracts, or who are no longer even playing.

Shohei Ohtani of the Los Angeles Dodgers is baseball’s highest paid player. His new contract averages $70MM/year, although much of that salary is deferred for several years. Ohtani commanded such a huge salary because he is a two-way player, serving as a good starting pitcher and a power-hitting DH. However, following offseason elbow surgery, Ohtani will not pitch at all in 2024, so the Dodgers have themselves a $70MM designated hitter. He is a good one, but the price still seems a bit steep to me.

The second and third highest players, Max Scherzer of the Texas Rangers and Justin Verlander of the Houston Astros, will knock down $43.3MM apiece this year, even though both of them will begin the season on the injured list. Scherzer is out until at least June after undergoing back surgery. Verlander experienced shoulder inflamation early in Spring Training. Verlander is 41 and Scherzer will be 40 later this season, so we shall see how well they recover from their injuries.

Coming in at No. 4 on the list is Jacob deGrom of the Texas Rangers, who will make $40MM this year and begin the season on the 60-day IL. deGrom appeared in just six games last season after signing a six-year contract for $222MM. deGrom only appeared in 38 games from 2019-2022, so who could have seen this coming?

Tied for No. 4 on the list at $40MM/year is Aaron Judge of the New York Yankees, who missed 42 games last season with an injury to his big toe. Judge missed nine days of Spring Training with an abdominal strain, but the Yankees hope he will be ready to go by Opening Day.

No. 6 on the list is Anthony Rendon of the Los Angeles Angels, who will make $38.5MM this year. In 43 games last season, he hit .236 with two home runs and 22 runs batted in. In his four seasons since signing a seven-year deal worth $245MM, Rendon has played in just 200 games and hit 21 homers, driven in 111 runs, and batted .249 

Mike Trout of the Angels is next on the list at $37MM/year. In the last six seasons (not counting the COVID-19 season) Trout played in only 114, 140, 134, 36, 119, and 82 games, respectively. Maybe this is the year Trout is back to full strength.

No. 8 on the list is Gerrit Cole of the Yankees at $36MM/year. Cole also will start the year on the IL and likely is facing season-ending surgery on his injured right elbow.

Patrick Corbin is the ninth-highest paid player in baseball, coming in at $35.4MM/year. Corbin led the NL in losses in each of the last three seasons while going 27-57 with a 5.62 earned run average.

Rounding out the list is Stephen Strasburg, whom the Nationals will pay $35MM this year. Although he announced his retirement, he remains on the 40-man roster. Strasburg did not pitch at all last season and appeared in only eight games after signing a seven-year deal after the 2018 season worth $245MM.

I always have questioned the wisdom of long-term contracts like those described here. Maybe the owners saw this list and that led to their hesitancy to sign free agents to long-term, big-money contracts this offseason. Probably not.

(Salary information is from Sportrac. All statistics are from Baseball Reference.)