Pujols’ new deal loaded with incentives
Thursday, January 5, 2012
NEW YORK (AP) — Guess $240 million wasn’t quite enough for Albert Pujols. In addition to his salary, the Los Angeles Angels are giving the slugger four season tickets to home games over the next decade.
He and the Angels still need to work out the location of the seats, which are his to enjoy for the duration of his contract. After that, if he still wants them, he has to pay.
Those details were contained in the terms of his deal that was filed Thursday with Major League Baseball and the players’ association.
Other perks include:
• Hotel suite on road trips.
• Luxury suite at the ballpark for the Pujols Foundation, his charitable group, for 10 home games a year.
• Right to buy a luxury suite between first base and third base for all home games.
The deal was so complicated it includes three separate agreements: His playing contract, a marketing deal and an agreement to enter a 10-year, personal-services agreement following the playing contract’s expiration or Pujols’ retirement, whichever is later. That will pay $1 million annually, but because it is contingent on Pujols actually working for the team, it is not considered guaranteed money for the purposes of baseball’s luxury tax.
High-payroll teams such as the New York Yankees and Boston Red Sox are likely to examine that structure closely and may emulate it in future agreements.
There also is a marketing agreement that will pay Pujols for milestone accomplishments. The player will receive $3 million for 3,000 hits and $7 million for a record 763rd home run. He currently has 2,073 hits and 445 home runs.
Including all three agreements, Pujols could make up to $268.75 million over 20 years. That includes $875,000 in possible award bonuses each year for accomplishments such as Most Valuable Player, World Series and league championship series MVP, Gold Glove and Silver Slugger, and making the All-Star team.
Like C.J. Wilson’s $77.5-million, five-year contract, which also was agreed to Dec. 8, Pujols’ deal is heavily backloaded. His 2012 salary will be $12 million, down from the $16 million he made last year in the option year of his contract with the St. Louis Cardinals.
Pujols salary increases to $16 million in 2013 and $23 million in 2014, then rises $1 million annually until he makes $30 million in 2021, when he will be 41.
It is only the third $200-million contract in baseball history, behind Alex Rodriguez’s $252-million deal with Texas after the 2000 season and A-Rod’s $275-million agreement with the Yankees after the 2007 season.