Top 5 MLB Players with the Highest Salaries in 2024

By Edcel Panganiban June 04, 2024 16:22

There is always a certain level of intrigue when it comes to the world of Major League Baseball and the ridiculous contracts the best players in the game inevitably earn. Here, we take a deeper dive into the top 5 highest paid players and how the soaring heights of these figures translate on a larger scale.

1. Shohei Ohtani — Los Angeles Dodgers

signed two-way star Shohei Ohtani to record-breaking 10-year, $700m deal But the contract has a crazy wrinkle -- Ohtani has an annual salary of just $2 million per year during the life of the deal, with the balance of $680 million to be paid from 2034-43. His average annual value (AAV) comes in at around $46 million -- a new record for an MLB salary.

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2. Aaron Judge, OF, New York Yankees

(9 years, $360.0 million/$40.0 million AAV) Sure, that makes a lot more sense given his monstrous impact on the diamond.

3. Texas Rangers: Jacob deGrom

Three, Jacob deGrom, RHP, Texas Rangers (5/$185 million, $40 million per year) His superb pitching skills mark him as one of the highest-paid MLB players.

4. A Rich Contract for Max Scherzer

Also at No. 4 is right-handed pitcher Max Scherzer, signed by the New York Mets, but now with the Texas Rangers. He signed a 3-year, $130 million deal with an average annual salary of $43,333,333.

5. Gerrit Cole: The Prince of Pitching

Another top right-handed starting pitcher for the New York Yankees, Gerrit Cole, completes the top 5 with a heavy 9-year, $324 million deal, providing $36 million per year. The 2023 AL Cy Young winner is earning his contract, despite not making his 2024 debut yet due to an arm injury.

Impact and Significance

The astronomical salaries paid to top players like these are a reflection of just how much value Major League Baseball places upon talent and performance. The numbers may be striking, but they highlight how a competitive league has led to a willingness of clubs to invest in the best to keep them on top.

Player Salaries

Player salary specifics can be easily verified through different sources like the details shared by the MLB, articles by reputed sports news sites, and salary monitoring platforms like Sportrac. But they have access to real-time data on player contracts – the total value and duration of contracts as well as the largest AAV (annual average value).
To wrap up, the top 5 players with MLB's highest salary in 2024 represent the epitome of MLB's success and talent. Their history-making contracts not only speak to the quirk of their accomplishments but also reflect a change in wage structures in professional sports. These salaries have reverberated beyond the game, influencing the future landscape of MLB and redefining how players should be priced.