Sabathia Needs A Signing Bonus!
Total Pro Sports – CC Sabathia’s seven year contact worth $161 million with the New York Yankees, was not enough for the pitcher. The New York Yankees have reportedly given CC Sabathia a $9.5 million signing bonus. $6 million of that bonus will given to him now and the other $3.5 million at the beginning of next season. So realistically if he decides to hang them up right now, he will be $6 million richer without officially throwing even one pitch for the team.
It just boggles my mind at how these teams like the Yankees can find all this money to pay these top athletes and continue to generate a profit. I guess if you factor in the $188 million in gate receipts, cable TV rights to home games – $319 million, the $65.3 million in concessions last year along with all the licensing rights to the New York Yankees name. It’s not a shock that the team can afford to have a payroll of over #210 million in 2008.
- The signing bonus is payable in three equal installments by Dec. 31 and by March 1 and July 31 next year.
- He will get a $14 million salary in 2009 and $23 million in each of the final six seasons of the deal, the largest contract ever for a pitcher both in total dollars and average salary.
- While most players are paid semimonthly during the six months of the regular season, Sabathia’s salary will be paid in semimonthly installments over all 12 months of the year. That means he will have received six payments of $583,333 before the opener.
Sabathia did admit that his contract and the amount of money is pretty crazy and astonishing!
“with the economy being the way it is … the huge amount of money, it was, you know, pretty crazy. But that’s our game, I guess,” he said.
I guess only a few people in life will be able to tell you what $170.5 million dollars actually feels like. CC Sabathia is now one of those people. Who will be next?