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Recently-Retired Orioles Slugger Chris Davis Is About To Known As The New Bobby Bonilla (In Terms Of Awesome Deferred Contracts)

Chris Davis, a 14-year MLB veteran, announced his retirement from baseball last week. And thanks to an awesome deferred contract, he’s about to be known as the new Bobby Bonilla.

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The biggest contract in team history was signed by the Baltimore Orioles in January 2016 when they acquired first baseman Chris Davis. Chris became one of the top 10 paid players in the NBA after signing a 7-year, $161 million contract. Chris Davis signing a huge salary earlier in his career might have made sense. Chris hit 53 home runs in 2013, which ended up being his career high. As a result, he gained membership in baseball’s elite 50 home run club, which as of this writing only has 30 players as members. And although it’s true that Chris hit a league-high 47 home runs in the season before signing his sizable contract, he also held the league record for strikeouts per at-bat, a title he retained until 2018.

Chris did in fact break an MLB record in 2018! Unfortunately, a “qualified player,” who I understand to be the top 125 highest-paid athletes, produced the lowest batting average in history. He only managed to hit.168 that year.

Chris made his permanent retirement from baseball known on August 12.

And unfortunately for Baltimore fans, Chris Davis is going to be on the Orioles payroll for many years to come. In a lot of ways, Chris Davis is the replacement for Bobby Bonilla.

(Photo by Adam Glanzman/Getty Images)

The New Bobby Bonilla

As we previously mentioned, Chris agreed to a 7-year, $161 million contract in 2016. $23 million each year is equal to $161 million divided by seven years. But starting in 2016, Chris only received $17 million annually. Why are they different? Because, perhaps very wisely, Chris decided to shave $6 million off of his salary each year in exchange for Bobby Bonilla-style future deferments.

As was first detailed by Sportrac, in retirement Chris will receive $59 million worth of deferred payments over a 15 year period. Payments begin in 2023 and are made until 2037.

The payments will be distributed as follows:

    When the payments expire in 2037, Chris will be 51 years old. At that point he will have earned $17 million + $58.98 million =

    $75.98 million… in retirement!

    Tax-Free State

    For the past ten years, Chris and his wife Jill have raised their family in Baltimore. The annual income tax rate in Maryland is 5.75 percent. Texas is Chris’s home state. He and Jill own a manor on more than two acres in the suburbs of Dallas. If they are smart, Chris and Jill will establish permanent residency in Texas ASAP. They can cut $1 million off his $17 million contract for 2022 if they move quickly. They will then save an additional $3.4 million between 2023 and 2037. To live in a place where there are no taxes would save you a total of $4.4 million.