After 14 years as a Major League slugger, Baltimore Orioles star Chris Davis announced his retirement from baseball on Thursday, leaving the game as a former All-Star and two-time league leader in home runs. But while Davis will no longer take to the diamond, he'll still reap the financial benefits of being a Major Leaguer for a long time to come and become yet another illustration of the perks of deferred payments.
As noted by Spotrac, Chris Davis is set to receive $42 million in deferred payments in a 15-year period from 2023 to 2037 as a residual after-effect of the seven year, $161 million contract he signed with the Orioles in 2016.
After receiving his full $23 million salary in 2022, Davis will earn:
- $9.16 million annually from 2023 to 2025
- $3.5 million from 2026 to 2032
- $1.4 million from 2033 until 2037