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Sunday, December 13, 2009

True Blue L.A.: Dodgers Announce Darren Dreifort Signing at $3m discount

The Los Angeles Dodgers announced today that they will re-sign Darren Dreifort to nearly the same contract he signed before the 2001 season, this one paying him $52,079,999 over 5 years.  When asked how he could manage such a move given the tight payroll constraints from the McCourts, Ned Colletti responded, “Well all the players receiving deferred money kind of felt sorry for Drei, and figured that since they’re due some money when they aren’t playing baseball, they would be generous and put that money towards giving Dreifort a chance to play.”

“It’s a great win for the club, too.  If Dreifort throws an inning, then the club actually gets something for all that money over the course of the next five years.”


Dreifort will get paid thanks to generous donations from the following players over the next five years:


Total: $52,079,999 over 5 years

The $52 million is the amount the Dodgers deferred to various players during the McCourt era. None of this money was used to sign home grown talent like Matt Kemp to an extension. Its all free agent money.

Tripon Posted: December 13, 2009 at 01:03 PM | 7 comment(s) | Login to Bookmark
  Related News: GeneralBusinessMediaOnlineHistoryLA Dodgers

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   1. ColonelTom Posted: December 13, 2009 at 04:29 PM (#3411284)
Wow, those deferred contracts are ugly. I wonder who gets those in the divorce.
   2. jwb Posted: December 13, 2009 at 06:12 PM (#3411366)
The Dodgers, obviously. If the court accepts their post-nuptual agreement, they're Frank's. If it does not and declares the Dodgers to be joint propoerty, they're both of their problems.
   3. ess eff Posted: December 13, 2009 at 06:21 PM (#3411370)
Correct me if I'm wrong, but it was my understanding that MLB requires deferred contracts to be funded all along, to the degree that the full amount will be generated by the time it's due.
   4. tl; dr (Voxter) Posted: December 13, 2009 at 06:23 PM (#3411371)
Didn't deferred contracts kneecap the Diamondbacks shortly after they won the WS?
   5. Lassus: Posted: December 13, 2009 at 06:36 PM (#3411381)
Holy crap.
   6. ess eff Posted: December 13, 2009 at 06:38 PM (#3411383)
OK, the rules on funding deferred compensation are in Article XVI of the Basic Agreement. But someone is going to have to tell me in English just what it means.

The larger point, though, is that a team like the Dodgers isn't going to have to suddenly pull, say, $10 million out of cash on hand for its deferrals in a given year.
   7. Swedish Chef Posted: December 13, 2009 at 06:49 PM (#3411386)
The larger point, though, is that a team like the Dodgers isn't going to have to suddenly pull, say, $10 million out of cash on hand for its deferrals in a given year.

Well, that is the one thing they will have to do no matter what accounting tricks they have done.
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