Updated: July 22, 5:30 p.m.
As expected, Mookie Betts has come to terms with the Los Angeles Dodgers on a massive long-term extension. According to ESPN’s Jeff Passan, the new deal is a 12-year extension worth a whopping $365 million.
That 12-year deal is tacked onto the one-year, $27 million contract he was currently playing under, taking the total value of the deal to $392 million (although his salary this year will be prorated). Betts also received a $65 million signing bonus.
Betts’ extension sets a new record for the most money included in a extension, topping Mike Trout‘s $360 million deal from a year ago. Trout’s however was a 10-year extension, so his is still worth more in average annual value. Regardless, the Dodgers have officially locked up one of the best players in baseball for over a decade.
Original Post:
For all the fans that were dreaming of Steve Cohen’s New York Mets’ featuring Mookie Betts, it may be time to set your sights on another free agent. After plenty of speculation that Betts would not sign a contract before hitting free agency, it appears that the Los Angeles Dodgers are going to keep the 2018 AL MVP long-term.
Betts was traded to the Dodgers this offseason, as the Boston Red Sox never could come to terms with their superstar on a contract extension. Red Sox fans were still holding out hope that Betts could somehow return in free agency and that he was only staying in L.A. as a rental.
That false narrative came to on end on Wednesday morning however, when Boston radio network WEEI reported that Betts was nearing a massive 10-year, $350-400 million extension with the Dodgers. ESPN’s Jeff Passan confirmed that speculation, as all signs point to Betts signing a huge deal in the near-future.
Star outfielder Mookie Betts and the Los Angeles Dodgers are deep into negotiations on a long-term contract, sources tell ESPN. While the language of the deal is not completed, the expectation is that Betts will be signing a massive deal with the Dodgers in the coming days.
— Jeff Passan (@JeffPassan) July 22, 2020
Betts signing a deal prior to hitting free agency is a huge story not only in L.A. and Boston, but throughout the entire MLB. Many felt that Betts was holding out on signing an extension due to his importance to the MLBPA.
It is not often that a 28-year-old MVP hits the open market. Betts getting to free agency could have a sparked league-wide bidding war, which would have been a big boost to the union and there fight to raise salaries and get a bigger share of the league’s revenue. At the same time, Betts is still likely to sign a contract that puts him right atop the game as one of it’s highest paid players.
With everything going on right now, it is no surprise that Betts would change his mind about signing a long-term extension and taking the money now while it is on the table. Who knows if there would be $350 to $400 million out there for him after this 60-game season, as teams have lost a significant amount of money.
Keeping Betts in Los Angeles is obviously a huge victory for the Dodgers, as they traded for a rental and instead turned him into their franchise player for the next decade.
