Arenado gets extra $15M, Cards defer $50M in amended deal
NEW YORK (AP) — Nolan Arenado’s contract was amended when the All-Star third baseman was traded to the Cardinals by the Colorado Rockies, adding a $15 million salary for 2027 to leave him owed $214 million over seven seasons by St. Louis.
As part of the amended contract, $50 million of that $214 million will be deferred and payable through 2041, according to details obtained by The Associated Press. Colorado would pay St. Louis $51 million, if Arenado decides to keep his entire contract and not opt out early.
Arenado had been set to be paid $199 million over the remaining six seasons of a $260 million, eight-year contract he signed with the Rockies: $35 million annually from 2021-24, $32 million in 2025 and $27 million in 2026.
As part of the amendment reached when Arenado agreed to the Feb. 1 trade, a $15 million salary was added for 2027, when he turns 36.
While his original contract allowed him to opt out after the 2021 season, the amended contract allows him to opt out after either 2021 or 2022.
As part of the amendment, the Cardinals will defer $20 million in his 2021 salary, payable in 10 equal installments with 2% interest each July 1 from 2022-26.
In addition, $6 million annually will be deferred with no interest from 2022-26, payable in 10 installments of $3 million on each July 1 from 2032-41.
Arenado gets a hotel suite on road trips, as he did in the original contract.
As part of the trade, the Rockies agreed to pay St. Louis $51 million of the $199 million remaining at the time, of which $30,429,500 is guaranteed and another $20,570,500 is conditioned on Arenado not opting out.
Colorado pays $14,429,500 this year and $16 million in 2023. The conditional money calls for payments of $5,570,500 in 2022, and $5 million each from 2023-25.
St. Louis dealt left-hander Austin Gomber and four minor leaguers to the Rockies: infielders Elehuris Montero and Mateo Gil along with right-handers Tony Locey and Jake Sommers.
Arenado is batting .314 with three homers and eight RBIs through his first 12 games.
More AP MLB: https://apnews.com/hub/MLB and https://twitter.com/AP_Sports