Breaking Down Bobby Witt Jr.'s Historic Contract

Michael Ginnitti
Michael Ginnitti, Managing Editor & NFL/MLB ExpertFebruary 05, 2024
Share
#bobby witt jr.
© USA TODAY Sports

The Kansas City Royals made a major statement heading toward Spring Training, locking in their franchise cornerstone shortstop Bobby Witt Jr. to an historic 11 year, $288.7M contract extension. The deal far outweighs any contract the Royals have ever handed out, ranking up there with some of the most impactful extensions the sport has ever seen.

The Salary Breakdown

Before we get too deep down the rabbit hole here, let’s make note of the financial structure of the deal, starting with a $7,777,777 signing bonus, & a $2M salary for the upcoming 2024 season. Witt was likely in line for a $1M salary in 2024 before this contract was signed. VIEW THE FULL DEAL

2024: $2M base salary, $7,777,777 signing bonus
2025: $7M base salary
2026: $13M base salary
2027: $19M base salary
2028: $30M base salary
2029: $35M base salary
2030: $35M base salary
2031: $35M base salary (player can opt-out)
2032: $35M base salary (player can opt-out)
2033: $35M base salary (player can opt-out)
2034: $35M base salary (player can opt-out)

3 year, $89M club option
2035: $33M
2036: $28M
2037: $28M

The Conditions

In exchange for a slightly light payout through his arbitration eligible years (2025-2027), Witt Jr. afforded himself the ability to opt out of this contract four consecutive times (after 2030, 2031, 2032, & 2033).

If we assume that he opts out when first able to, the contract would have truncated down to a 7 year, $148.7M deal, and a 30-year-old Bobby Witt Jr. would be hitting the open market for the first time.

If this thing were to get to the finish line (all 11 years are exercised), the team would have an option to extend the contract another 3 years, $89M through the 2037 season, when Witt will be 37-years-old.

The Rankings

The Royals just handed out the largest contract in their franchise history by a whopping $206.7M.

  1. Bobby Witt Jr.: 11 years, $288,777,777
  2. Salvador Perez: 4 years, $82,000,000
  3. Alex Gordon: 4 years, $72,000,000

This is the 16th largest total value contract in MLB history, slightly behind Manny Machado’s 10 year, $300M contract in San Diego, & slightly ahead of Xander Bogaerts’s 11 year, $280M deal with the Padres.

This becomes the 2nd largest Pre-Arbitration extension in MLB history, behind only Fernando Tatis Jr.’s 14 year, $340M deal in San Diego. If all options are exercised however, Bobby Witt Jr.’s contract will max out at 14 years, $377.7M, far surpassing FTJ. In terms of average salary, Witt Jr.s $26.2M is easily the highest for a contract signed during the pre-arbitration process.

When zooming out to the entire league for the 2024 season, Bobby Witt Jr.’s $26,245,455 average salary currently ranks 24th in MLB, just behind Christian Yelich in Milwaukee ($26.9M)

Concluding Thoughts

The Royals may not be “ready to win” with this contract, but locking in a cornerstone player (at a cornerstone position) has a way of jumpstarting success, even if it may be a few years early. KC has bolstered their starting rotation this winter with a few timely signings (Michael Wacha & Seth Lugo), and there may be enough young talent ready to blossom on this roster to take them into a 70+ win campaign for 2024 (after winning just 56 last season).

From Witt’s standpoint, this is generational money out of the gate, with loads of control to manipulate his career at very important points. With many players struggling to secure one early opt-out condition in their long-term deals, Witt garnering four is absolutely unprecedented.

He has the ability to let the Royals make a push into Division/League contention over the next 7 seasons ($148.7M), then decide his own way forward from there. It’s a best of both worlds scenario that will put pressure on Kansas City’s front office to escalate their spending & aggressiveness - an easier said than done proposition for a team that struggles to attract top talent each winter.

The Royals should be expected to aggressively work the international signing periods and become active at trade deadlines, where the playing fields become a little more even.

Either way, an historic contract for a young, 5-tool shortstop can only send the Royals’ community into the 2024 season with a positive outlook.

VIEW THE FULL DEAL


#bobby witt jr.
Top