Fernando Tatis Jr. has his mega-deal. He wants a statue at Petco Park as he signed a 14-year, $340 million extension was signed last week. The Padres ensured themselves Tatís’s presence in the middle of their lineup through his age-35 season. He may have just 143 regular-season games to his name so far in his MLB career, but the 22-year-old has already established himself as one of the sport’s best up-and-coming players.
“You know the players I admire the most … they stay [with] one team,” Tatis said Monday. “They build a culture. And then, you know, they become winners. … I’m over here trying to do the same.”
What’s amazing is that Bobby Bonilla’s contract will outlast this extension and a portion of Fernando Tatis’ deal with the Padres will be going to Big League Advance and not to Tatis.
Bobby Bonilla Contact
In 2000, the Mets decided to buy out Bonilla’s $5.9 million contract. Instead of taking a lump sum, Bonilla’s agent negotiated a deal that would pay Bonilla over multiple years at an 8 percent interest rate. The end result of the deal means Bonilla is being paid $1.16 million by the Mets every June 1, which has unofficially been referred to as Bobby Bonilla Day by dedicated baseball fans.
Those payments started in 2011, and will run through 2035. Fernando Tatis’ deal with the Padres will end in 2034.
Big League Advance
Essentially, Big League Advance (BLA) is an investment company, but instead of investing in businesses and properties, it invests in players. The company approaches minor leaguers and offers them a one-time payment in exchange for a small but significant cut of their earnings as an MLB player. If the minor leaguer’s career doesn’t pan out and he never makes it to MLB’s lucrative free agency, it’s a good deal for the player. However, if that player, say, becomes an MVP candidate and signs one of the largest contracts in baseball history, it’s a bonanza for Big League Advance.
But then again Tatis is hardly going to suffer from this.
