MLB teams have handed out almost $2.9 billion in contracts to free agents this offseason. That dwarfs the winter spending in each of the last five years.
Aaron Judge, Carlos Correa and Trea Turner combined for almost $1 billion in contracts. Xander Bogaerts, Jacob deGrom, Dansby Swanson, Carlos Rodón, Brandon Nimmo and Willson Contreras added up to another billion.What a difference a year makes.
Including Thursday’s transactions, big league teams have handed out almost $2.9 billion in finalized contracts to major league free agents this offseason. That dwarfs the winter spending at this point in each of the last five years. How did this happen? The March labor agreement that set industry rules through 2026 is one factor behind the increased spending, but there are several more forces at play.
Labor peace, of course, is good for business in general, but MLB also is in the process of dispersing the $900 million it received from The Walt Disney Co. for its remaining share of a streaming service technology company. That money is expected to go out to clubs before the end of the year. What’s next? Looming over all this spending is Los Angeles Angels star Shohei Ohtani, who can become a free agent after the 2023 season. If Ohtani gets to free agency, he likely would smash each of baseball’s financial records for player contracts.
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