The top 10 Biggest Contracts in the MLB in 2024

By Oliver Wiener February 27, 2024 01:52

Photo by Tim Heitman-USA TODAY Sports

The year 2024 has witnessed monumental contracts being inked in Major League Baseball (MLB), solidifying the financial landscape of the sport. From record-breaking deals to substantial extensions, the highest-paid players in the MLB have secured staggering contracts, reshaping the expectations for player compensation. Let's delve into the details of the top 10 biggest contracts in the MLB for the year 2024, highlighting the players, teams, contract values, lengths, and any notable clauses or stipulations.

1. Shohei Ohtani - Los Angeles Dodgers

Position: Starting Pitcher/DH
Age: 29
Contract Value: $700,000,000
Contract Length: 10 Years
Annual Average Value (AAV): $70,000,000
Earnings Distribution: Significant deferrals with $2 million a year from 2024-2033 and the remaining $680 million paid out from 2034-2043

Shohei Ohtani's historic $700 million contract with the Los Angeles Dodgers has set a new standard for player compensation in the MLB. The remarkable deal reflects the team's unwavering commitment to securing top-tier talent and has significantly impacted the league's salary landscape.

2. Max Scherzer - Texas Rangers

Position: Starting Pitcher
Age: 39
Contract Value: $560,000,002
Contract Length: 13 Years
Annual Average Value (AAV): $43,333,334

Max Scherzer's monumental contract with the Texas Rangers underscores the substantial financial investments made by teams to secure elite pitching talent. The 13-year deal reflects the team's confidence in Scherzer's ability to make a long-term impact on the franchise.

3. Justin Verlander - Houston Astros

Position: Starting Pitcher
Age: 41
Contract Value: $564,000,000
Contract Length: 13 Years
Annual Average Value (AAV): $43,384,615

Justin Verlander's substantial contract extension with the Houston Astros highlights the enduring value placed on experienced pitchers in the MLB. The 13-year agreement underscores the team's belief in Verlander's ability to maintain a high level of performance over an extended period.

4. Jacob deGrom - Texas Rangers

Position: Starting Pitcher
Age: 36
Contract Value: $560,000,000
Contract Length: 14 Years
Annual Average Value (AAV): $40,000,000

Jacob deGrom's long-term contract with the Texas Rangers reflects the team's strategic investment in securing top-tier pitching talent. The 14-year deal underscores the franchise's commitment to building a formidable roster for sustained success.

5. Aaron Judge - New York Yankees

Position: Right Fielder
Age: 32
Contract Value: $400,000,000
Contract Length: 10 Years
Annual Average Value (AAV): $40,000,000

Aaron Judge's substantial contract extension with the New York Yankees solidifies his position as a cornerstone player for the franchise. The 10-year deal reflects the team's dedication to retaining key talent and building a competitive roster for the future.

6. Anthony Rendon - Los Angeles Angels

Position: Third Baseman
Age: 34
Contract Value: $270,000,000
Contract Length: 7 Years
Annual Average Value (AAV): $38,571,428

Anthony Rendon's significant contract with the Los Angeles Angels underscores the team's commitment to securing offensive firepower. The 7-year agreement reflects the franchise's aim to bolster its lineup with proven talent.

7. Mike Trout - Los Angeles Angels

Position: Center Fielder
Age: 32
Contract Value: $260,000,000
Contract Length: 7 Years
Annual Average Value (AAV): $37,142,857

Mike Trout's lucrative contract extension with the Los Angeles Angels reaffirms his status as one of the premier talents in the MLB. The 7-year deal reflects the team's investment in retaining a generational player and building a competitive roster around Trout.

8. Gerrit Cole - New York Yankees

Position: Starting Pitcher
Age: 33
Contract Value: $288,000,000
Contract Length: 8 Years
Annual Average Value (AAV): $36,000,000

Gerrit Cole's substantial contract extension with the New York Yankees solidifies the team's pitching rotation with a premier talent. The 8-year deal reflects the franchise's commitment to securing elite pitching and maintaining competitiveness in the league.

9. Patrick Corbin - Washington Nationals

Position: Starting Pitcher
Age: 34
Contract Value: $284,000,000
Contract Length: 8 Years
Annual Average Value (AAV): $35,500,000

Patrick Corbin's significant contract with the Washington Nationals underscores the team's emphasis on securing experienced pitching talent. The 8-year agreement reflects the franchise's commitment to bolstering its pitching staff for sustained competitiveness.

10. Nolan Arenado - St. Louis Cardinals

Position: Third Baseman
Age: 33
Contract Value: $350,000,000
Contract Length: 10 Years
Annual Average Value (AAV): $35,000,000

Nolan Arenado's substantial contract extension with the St. Louis Cardinals solidifies the team's infield with a proven defensive and offensive talent. The 10-year deal reflects the franchise's commitment to building a competitive roster for the long term.

The top 10 biggest contracts in the MLB for 2024 exemplify the substantial financial investments made by teams to secure top-tier talent. These record-breaking deals and extensions underscore the evolving financial landscape of the MLB, setting new standards for player compensation and highlighting the enduring value placed on elite players within the sport.