How well do you predict the sport will maintain its popularity?, asked Hendricks. Bruce Sutter, who passed away today at sixty-nine years of age, is something of an anomaly among St. Louis Cardinals players whose numbers have been retired by the club. Bruce Sutter salary, contract, career earnings. . Showing Editorial results for bruce sutter. Sutters signing with the Braves turned out to be quite the investment for the 65-year-old, but their pairing led to very little on the baseball diamond. That's right: it was deferred until 2022. He had mastered the split-fingered fastball, throwing the pitch for strikes, and led the National League in saves five times. He previously played for the San Diego Padres, Boston Red Sox, Atlanta Braves, and Chicago Cubs.He is an eight-time All-Star, two-time Reliever of the Year, and a 2018 World Series champion. But we fully expect it will work out for the full term.. Site Last Updated: Friday, March 5, 10:19AM Question, Comment, Feedback, or Correction? When he receives the last of 10 $1.4 million chunks in 2037, hell be over the age of 50. Theyre also still paying Ubaldo Jimenez, J.J. Hardy, and Yovani Gallardo this year. He cut the percentages down from me from 27 outs a game to 21, said Whitey Herzog, the Hall of Fame manager who traded for him. Sutter, whose final payment comes in 2022, was able to turn $9.1 million into nearly $47 million thanks to interest. Sutter also had a career earned run average of 2.83. By the time the 25th and final Bobby Bonilla Day has come and gone 13 years from now, the man will have turned the $5.9 million the Mets still owed after releasing him with a year left on his contract into a full $29.8 million in deferred money as part of a peculiar with-interest compensation structure. The New York Times reported that Sutter's six-year contract paid him $4.8 million and placed another $4.8 million into a deferred payment account at 13 percent interest. This year, lets celebrate Bobby Bonilla Day by revealing the Deferred Money All-Star Team, a ragtag bunch of rascals who have continued or will continue to receive MLB checks well into their 50s and 60s. The interest rates still can fluctuate upward, so a wide range of different total payments is possible. By, Photo by Nury Hernandez/New York Post Archives /(c) NYP Holdings, Inc. via Getty Images, Photo by B Bennett/Bruce Bennett Studios via Getty Images Studios/Getty Images, Jeff Swinger via Imagn Content Services, LLC, Photo by Christopher Pasatieri/Getty Images, Photo by Rich Pilling/MLB Photos via Getty Images, Mike Ehrmann/Pool Photo via USA TODAY Sports, Robert Deutsch, USA TODAY, USA TODAY NETWORK via Imagn Content Services, LLC, Photo by Wally Skalij/Los Angeles Times via Getty Images, Roy Dabner, Milwaukee Journal Sentinel, Milwaukee Journal Sentinel via Imagn Content Services, LLC, This site is protected by reCAPTCHA and the Google. Howard Bruce Sutter (January 8, 1953 - October 13, 2022) was a Major League Baseball (MLB) pitcher who played 12 seasons between 1976 and 1988. His deal gave him $35 million over the seven years after his retirement in 2016, so Boston will be paying him through 2024. NFT Sales Roundup: Top Sewer Pass Sold for $1.6M, Planet of the Apes Gets Marvel Comic Imprint with 20th Century, Mariah Carey Enjoys Billboard Chart Resurgence Thanks to TikTok, Everything You Need to Know About Yuga Labs TwelveFold Project, Benny the Bull Just Got a Signature Shoe Courtesy of Don C. . Despite the high-for-its-time salary, Sutter wanted a long-term contract, and told reporters he might not show up when training camp opened. Sutter played 12 seasons in the big leagues from 1976-88, including four years with St. Louis,. But Axelrod said the up-front payments serve his clients interests too--better than a deferred payment plan would. Zach Randolph has deferred significant portions of his contracts two separate times, starting with his six-year, $84 million Blazers deal in 2004. As The Athletics Dan Lewis reported, the Braves are still paying former reliever Bruce Sutter, who played with the Braves from 1985 to 1988. But what about the $750,000 he got during the six years of the contract? You are betting on the viability of both the sport and the franchise. . Here are some other notable deferred-money contracts: Bobby Bonilla (again): A second deferred-contract plan with the Mets and Orioles pays him $500,000 a year for 25 years. That's the day that the Mets have to pay Bobby Bonilla $1.2 million per their deferred compensation deal with him struck after the 1999 season. The Orioles also will be paying Andrew Cashner until 2021, Mark Trumbo through 2022, and Darren ODay through 2023. The St. Louis Cardinals, with whom Sutter spent four seasons with, confirmed his passing with a tweet Friday morning. And Sutcliffes agent, Barry Axelrod of San Diego, said Sutters contract should not be valued at more than $10 million--the cash the Braves may put into it in the next six years. The Braves destiny suffered a similar fate over the six years of Sutters contract, the Braves best season (1986) ended with a 72-89 record. Manny being Manny indeed! He signed a record-setting contract in 1992 that set up payments of $500K per year from 2004-2023. . Bruce Sutter-Atlanta Braves-If you don't remember Bruce Sutter, that is ok. There is speculation, though, that the Internal Revenue Service plans to take a hard look at Sutters contract or one like it. Im not concerned about 10 years, but if someone comes up with a deal that goes to 2030, Im leery. Pretty good deal for Saberhagen, who got 25 years of payments from a contract where he won 21 games. If someone said to me, we want to defer 55% of the contract into an account over which you have no control (a precise description of the Sutter deal), I dont think I could live with that. --The contract is guaranteed in the sense that even if Sutter were injured on the first day of spring training and never able to play again, he would still be entitled to receive the full amounts called for, for the life of the contract. A look at one of the worst weeks for Georgia sports. Ryan Brauns chance at long-term success seemed in grave doubt when in 2013, he admitted to taking PEDs during his MVP season of 2011. NL Player of the Week. . Do Not Sell or Share My Personal Information, Lakers playoff hopes take another hit after comeback fades vs. Minnesota, Ducks strike with a pair of late power-play goals to defeat Canadiens, With Norman Powell out, Clippers are edged at Sacramento for fifth loss in a row, Harvard-Westlakes Bryce Rainer fires out 92-mph fastballs in first start since 2021, Desperate mountain residents trapped by snow beg for help; We are coming, sheriff says, Hidden, illegal casinos are booming in L.A., with organized crime reaping big profits. He was a. . Heres when they play, Mysterious ball seen beside road was 14-foot invasive snake, New York officials say, Authorities identify Phenix City man, 66, who died in Thursday morning house fire, Atlanta Braves August 2020 game schedule, with TV channels, As baseball fans mourn a delayed season, lets remember theres an opportunity for the sport. In contrast, if the interest rate were to average 16%, the contract would return $57.3 million. The Great One could have held out for more, but you miss 100 percent of the settlements you dont take. Kansas City played Toronto in the ALCS in the same 1985 season. Bonilla is the most famous of many high-profile athletes who signed strange and elaborate contracts with payments shoved far into the future the Orioles and Nationals are currently dominating this field but the practice goes back decades, which is appropriate, since these payments extend for decades. The Atlanta Braves, fresh off an 80-82 season, decided to strike while the iron was mostly lukewarm, if you're being charitable. For some reason, the Braves agreed to pay Sutter the full $9.1 million up front think of it as a signing bonus of sorts but then deferred the whole amount. Then, you dont have all your eggs in one basket.. Considered one . Bobby Bonilla is the poster boy for ill-considered salary deferrals, but he actually had two with the New York Mets. After becoming a free agent in 1984, Sutter signed a six-year, $4.8 million dollar contract with the Atlanta Braves. Ted Turner, then the mercurial and enigmatic owner of the team, had surprised the baseball world when he signed the star closer to a long-term but deferred contract after the 1984 season but never realized the dividends he expected. The New York Mets are annually laughed at around July 1, when the team pays former player Bobby Bonilla $1.19 million as part of a deferred contract that runs until 2035. The payments began in 1991, which means that Sutter has been receiving deferred payments for 30 years. Were guessing that most of those services involve smiling and waving to fans. The $750,000 Sutter was paid each season were interest payments of about 8 percent on his contract. Junior Griffey will forever be known as the transcendent face of the Seattle Mariners, but hes a Reds legend, too. Its not a surprise that A-Rod is currently trying to buy the New York Mets, since both parties are quite familiar with long-term salary deferrals. But the Braves could choose to put nothing aside and fund the payments out of operating expenses. . As a result, Griffey is still making just over $3 million every year through 2024 (payments started in 2009), more than five times what dissident slugger Pete Alonso was to earn in 2020. The press estimated that with interest the account would pay Sutter $1.3 million per year for 30 years. Let's look at 32 of these deals one for every year the Mets will write a post-retirement check to Bobby Bo. If they funded the annuity in this way, according to the 12.3% interest rate agreed upon, the fund would have increased to $9.1 million at the end of the six years and, according to the minimum interest rate, would fund annual payments of $1.12 million. It took him four years, but eventually the NHL settled for $8 million. I was listening to a commentary about the Bonilla contract by Steve Philips, at the time the Mets General Manager, now a commentator on MLB Network on Sirius Radio. Follow him on Twitter @RealFakeSamDunn. One deferred contract that will end soon is the one owned by pitcher Bruce Sutter. Sutter signed a six-year, $10.4 million contract with the Braves in December 1984 and was with the team until he was. He got $54 million for four years but lasted only 105 games, just over a year. Deferred Payments Because Sutter wants part of his salary deferred with interest with a long-term payout, the contract with the Braves apparently will call for half of the annual $1.6. How did this happen? A total of $4.8 million would be paid in salary over the six years and the other $4.8 million would be invested into a deferred payment account at. (Just ask the Boston Red Sox, who have repeatedly used the tactic presumably to provide some short-term breathing room against the luxury tax.). If the team were to go bankrupt, he expressed confidence that organized baseball as a whole would step in and assume the teams obligations. Sutter annually receives $1.12 million from the Atlanta Braves and will continue to receive payments until 2022. The son of Howard and Thelma Sutter, he is the fifth of the six children in his family. He is a five-time All-Star, a former Cy Young Award winner and has led the league in saves for five of the last six seasons. When Alex Rodriguez signed his massive free agent deal with Texas in 2001, he deferred $45 million until 2011-20 at 3 percent annual interest. He was worth, collectively, -0.3 bWAR, and at no point during his Braves career did he turn in an above-replacement-level season as a pitcher. The closer had been a six-time All-Star, National League Cy Young Award winner, and world champion but was not the same pitcher with the Braves, when both he and his career went south. LOUIS - Bruce Sutter, a Hall of Fame pitcher well-remembered for closing out the St. Louis Cardinals' 1982 World Series title, has died at the age of 69. an editor at metsmerizedonline.com, researched an listed out a bunch of future deferred payments set to be doled out in the coming . Privacy Policy. Fifteen or 20% would be a different story., Woolf called the Sutter contract dangerous . Bronner said he does not know what financial state baseball is in, but he noted that baseball has a rule that clubs must maintain substantial assets to pay their liabilities. But I would have put only about 20 to 25% of this package into annuities., Reich added: Perhaps they (Bronner and Gilhooley) couldnt have put (the deal) together on that basis. Because Bonilla was traded to Baltimore midway through the deal, the Orioles and Mets split the money. Get the latest news and rumors, customized to your favorite sports and teams. Every Sports Reference Social Media Account. It breaks new ground (in baseball), and it does so with a company that has more stability than the U.S. Football League. We all know about Bobby Bonilla's infamous deal with the New York Mets but did you know that Bruce Sutter actually has the most expensive deferred contract in MLB . Sales contract led to luxury tax concerns that encourage Bostons trade of David Price and Mookie Betts, but some of that money will be haunting them financially until Sale is 50 years old. They released him after that season but paid him $3.2 million every year through 2014. He was 69 years old. Awards. The newspaper estimated that the account would pay Sutter $1.3 million per year for 30 years after the initial six seasons of the contract.