MLB
Main Takeaways from Mookie Betts’ Extension with the Dodgers
Here's how the massive contract Mookie Betts signed will impact the teams and players involved going forward
www.upi.com
UPDATE: Los Angeles Dodgers and OF Mookie Betts have agreed to a 12y/$365M extension that begins next year through 2032, the largest contract in MLB history pic.twitter.com/LsPz0FPPvK
— Pro Sports Outlook (@PSO_Sports) July 22, 2020
Mookie Betts has officially agreed to a 12-year extension worth $365M with the Los Angeles Dodgers. The deal is set to kick-in next season, technically making it a 13-year deal worth $392M including 2020, according to Jeff Passan of ESPN. A $65M signing bonus was also included in the deal as is significant deferrals. Betts was slated to become a Free Agent at season’s end, with expectations of landing a deal of this magnitude that he now doesn’t have to wait for anymore. This extension makes Betts the owner of the richest contract in baseball history when it comes to new money, as Mike Trout‘s 12yr/$426.5M contract with the Los Angeles Angels topped out at $360M in new guarantees.
The Los Angeles Dodgers announced that they have signed outfielder Mookie Betts to a 12-year contract through the 2032 season.
— Los Angeles Dodgers (@Dodgers) July 22, 2020
After spending six seasons with the Boston Red Sox, Betts is now set to be a Dodger through his age-39 season, barring any trades. Betts, 27, had a great six years with the Red Sox: winning a MVP, three Silver Sluggers, four Gold Gloves, making four All-Star Games, and a World Series along the way. He hit .301/.374/.893 with 139 HR and 470 RBI during his time in Boston. Moreover, Betts’ 96 DRS (defensive runs saved) are the third most since the start of the 2014 season, behind only defensive stalwarts SS Andrelton Simmons (144 DRS) and Kevin Kiermaier (112).
But Boston is now in the past, as he now begins the second act of his career after a long intermission. The former AL MVP will now have a different set of expectations in this new stage of his career. He is no longer the Red Sox’s wonder kid, who burst onto the scene and grinded his way to becoming the franchise guy. Betts is now the second richest man in baseball history, playing for a team who has not won a World Series in 32 years and is desperate to add new hardware to their trophy case for a fanbase that demands nothing less than a world title every season. He will now be expected to consistently perform at the same level he has for the past five seasons during this final chapter of his career.
Mookie Betts’ deal with the Dodgers adds $365 million in new money, topping the previous extension record of $360 million signed by Mike Trout, and will run through the 2032 season, sources tell ESPN. It also includes a record $65 million signing bonus.
— Jeff Passan (@JeffPassan) July 22, 2020
This monster extension makes Betts the third-richest athlete in American sports, behind Parick Mahomes ($503M) and Trout ($426.5M). Baseball wise, it is second in total value, but it’s tied for third in regards to contract length; both Giancarlo Stanton and Bryce Harper got 13 years. Additionally, the contract ranks as the 11th highest AAV in baseball history, with an estimated $30.4M/yr. The deal also includes deferred money, according to Ken Rosenthal of The Athletic, which would lower his annual salary and help the Dodgers’ hopes of extending both Bellinger and Walker Buehler in the near future.
When comparing this deal to the Trout deal, Betts’ contract is actually bigger in years and new money. Trout’s extension was actually 10y/$360M, which was then added to the remaining 2y/$66M he had left on his previous contract, making the deal a total of 12y/$426M. Betts receives 12 new years plus the one year he already had, and $365M in new money, which is added to the $27M ($10M prorated for this season) he has on the books for 2020, making Betts’ deal worth a total of 13yrs/$395M.
Mookie Betts and Mike Trout have signed for a combined $806.5 million.
— SportsCenter (@SportsCenter) July 22, 2020
The two largest contracts in MLB history 🤯💰 pic.twitter.com/zdM6AbVWBs
The Dodgers will have control of Cody Bellinger, Mookie Betts, and Walker Buehler for, at minimum, the next five seasons (through 2024).
— Danny Vietti (@DannyVietti) July 22, 2020
That’s a scary thought. pic.twitter.com/Z14Xa41gQa
The Dodgers’ star-studded outfield cast has been well acknowledged ever since LA acquired Betts back in February. Betts joins the Dodgers during a time where they have All-Star talent at almost every position. Most notable, is his fellow outfielder, Cody Bellinger, who is coming off an extremely impressive NL MVP season. Bellinger and Betts will no doubt be the best OF duo in baseball, both offensively and defensively. Both players had over 130 wRC+ (weighted runs created plus) in 2019 and more than 15 DRS individually.
With Bellinger in CF and Betts in RF, the Dodgers have assembled a duo of power, speed, contact, and defense that can’t be matched. With Betts’ new deal, Los Angeles is trying to guarantee that this outfield duo will be wearing Dodger blue for the rest of their careers. This extension could be seen as a prelude of what’s to come when it’s Bellinger’s turn to cash in. The question now becomes, will the Dodgers keep this elite duo in the outfield for the next 8-12 years?
Back when the Dodgers pulled the trigger on the Betts’ trade, nobody expected this season to be just 60 games and witness a global pandemic literally shut down the world for a while. But it was always in the Dodgers’ plans and interests to not make Betts just a one-season rental, and by no means a 60-game rental. They gave up too much for just 60 games, even if it is another MVP-caliber season. This long-term deal was part of their long-term vision, with the hopes of keeping Betts and Bellinger in the outfield for the next decade plus.
But enough about the next 10 years, what about the present. The Betts trade made the Dodgers even bigger favorites to win it all this season and now that they are guaranteeing that Betts stays in LA for 12 more years, LAD will probably be favorites for the next few seasons, at least. Yes, long-term deals don’t usually work out (e.g. Miguel Cabrera, Robinson Cano, Josh Hamilton, etc.), but this is a player who is signing a decade-plus contract early in his career, which is much more rare.
Hence, why the Bryce Harper and Manny Machado saga was so historic; two players signing record-breaking deals at the ages of 25 and 26, respectively. Betts turns 28 this upcoming October and he still has at least 3-5 more years of what are considered prime baseball years after 2020. Yes, he probably won’t be the same player when he’s 39, but the Dodgers won’t care if he helps them win multiple World Series titles over the next few years.
Related: “Future Impact: Red Sox & Dodgers Blockbuster Mookie Betts Deal“
A common theory among others in the industry is that the LAD deal with Mookie Betts is so outsized in the face of financial uncertainty that the talks must've been well down the tracks, with a general understanding predating the COVID-19 shutdown. A great, great deal for Betts.
— Buster Olney (@Buster_ESPN) July 22, 2020
The timing of this extension may seem bizarre at first glance, with Betts still yet to make his Dodgers debut (due to the season’s 4-month hiatus). But the reasoning behind the timing could very well be how nebulous the near future looks, especially for Free Agents. During a 60-game season without fans, many teams will take a significant financial hit, which could affect the amount of teams bidding in the winter for a player like Betts who was demanding record-breaking offers.
Also, Betts and his agent must know that one can’t pass up a deal of this magnitude. How much more could Mookie really have gotten even in a normal free agent market? Probably not much, if any. He wasn’t going to beat Trout’s $426M, especially in this new landscape. This is a great a deal for Betts and one that the Dodgers hope serves as a catalyst for winning multiple Championships.
Looking at it from another perspective however, it shows that teams—at least those with big budgets— are not afraid to spend big, even during the troubling times. Maybe this is a sign of what’s to come this upcoming winter – big market-teams spending big while smaller markets are just trying to survive the recession. There’re some pretty notable names set to hit the market after this season including OF George Springer, C J.T. Realmuto, RHP Trevor Bauer, and SS Marcus Semien who hope to get market value and can look at this Betts deal with confidence for their own earnings potential. Those big contracts could still be out there, no matter what the situation the world is in as Mahomes, and now Betts have made clear.
Like these takeaways about Mookie Betts’ extension? Share with your friends!
