Like professional football and basketball, contracts for professional baseball stars in the MLB have grown exponentially over the last two decades. Even though it’s jaw-dropping that the largest contract is almost $700 million, giant contracts have become the new normal. As baseball is big business, it won’t surprise anyone to learn that the biggest names also receive some of the largest contracts.
The increased salaries result from more sponsors coming to the game of baseball and larger television contracts, which are creating more revenue for teams. Using Sportrac data, we can look at the largest contracts in baseball in descending order based on the 2024 MLB season, which is currently underway.
Why Are We Covering This?
There is no question that baseball salaries and 24/7 WallSt have more in common than many people might think. First and foremost, many league sponsorships that help pay these large salaries are based on relationships with companies we regularly cover on this site. Not to mention that baseball is a multi-billion dollar business every year. With these types of economics involved, covering baseball salaries is right up our alley.
10. Jackson Chourio
- Total contract value: $82,000,000
- 2024 salary: $4,000,000
- Average salary: $10,250,000
- Signing bonus: $2,000,000
- Contract terms: 8 years
Milwaukee’s Best
Jackson Chourio, the starting outfielder for the Milwaukee Brewers, has the 10th-largest contract in baseball. Beginning in 2024, Chourio’s deal has quite a few escalators. The first year pays $4,000,000, but in 2031, he’ll earn $17 million for the season. In his first season, Jackson Chourio has been relatively consistent at the plate, though he’s struck out more than Milwaukee would arguably like to see. The good news is that he’s only in his first year and has plenty of time to improve and earn his deal.
9. Logan Webb
- Total contract value: $90,000,000
- 2024 salary: $8,000,000
- Average salary: $18,000,000
- Signing bonus: N/A
- Contract terms: 5 years
High School Phenom
Drafted right out of high school, Logan Webb has already proven himself worthy of his contract. Making his major league debut in 2019 with the San Francisco Giants, Webb has a 48-37 win-loss record and an earned run average of 3.36. With 676 strikeouts and counting, Webb still has plenty of time in Milwaukee to improve on these numbers and be one of the best pitchers in baseball.
8. Josh Hader
- Total contract value: $95,000,000
- 2024 salary: $19,000,000
- Average salary: $19,000,000
- Signing bonus: N/A
- Contract terms: 5 years
Astros Pitcher
Selected in the 19th round of the 2012 MLB draft, Josh Hader has been playing in the big leagues since he made his MLB debut in 2017. By 2021, Hader became the fastest pitcher in MLB history to reach 400 strikeouts. Hader is considered one of the top relief pitchers in the game and has been selected to the All-Star game multiple times. Hader has also won the National League Reliever of the Year award multiple times.
7. Jung-hoo Lee
- Total contract value: $113,000,000
- 2024 salary: $12,000,000
- Average salary: $18,833,333
- Signing bonus: $5,000,000
- Contract terms: 6 years
Korean Baseball Star
One of Korean baseball’s biggest stars, Jung-hoo Lee, finally made his MLB debut on March 28, 2024. After excelling in Korea, he played for the national baseball team at the 2020 Summer Olympics and the 2023 World Baseball Classic. Lee’s deal with the San Francisco Giants, one of the biggest in baseball history, was only signed on December 14, 2023, so the team is taking a huge chance that Lee will be able to adapt to American baseball.
6. Tyler Glasnow
- Total contract value: $136,562,500
- 2024 salary: $25,000,000
- Average salary: $27,312,500
- Signing bonus: $10,000,000
- Contract terms: 5 years
Super Tall Pitcher
Standing 6 feet, 8 inches, Tyler Glasnow has a Randy Johnson-like thing going on. Under contract as a starting pitcher for the Los Angeles Dodgers, Glasnow made his MLB debut with the Pittsburgh Pirates in 2016. Glasnow is well known for his excellent curveball and fierce fastball. With 821 strikeouts already recorded in his career, he is on his way to being one of the best pitchers the game has ever seen.
5. Will Smith
- Total contract value: $140,000,000
- 2024 salary: $11,550,000
- Average salary: $14,000,000
- Signing bonus: $30,000,000
- Contract terms: 10 years
Not the Actor
Not to be confused with the actor, Will Smith is a Los Angeles Dodgers catcher. Smith’s 10-year contract is one of baseball’s longest and most expensive. With this signing bonus, the first year of his contract will see him gross over $47,100,000. Like Shohei Ohtani, much of Smith’s contract comes from deferred money, which he will earn through 2043, long after his days of playing the Dodgers starting catcher are over.
4. Aaron Nola
- Total contract value: $172,000,000
- 2024 salary: $24,571,428
- Average salary: $24,571,429
- Signing bonus: N/A
- Contract terms: 7 years
Phillies Phenom
Beginning his MLB career for the Philadelphia Phillies in 2015, Aaron Nola has been a member of the team’s pitching rotation ever since. Nola is tied for the most consecutive strikeouts during a baseball game at 10 with Tom Seaver and Corbin Burnes. While Nola has mostly maintained his same four-pitch lineup since 2015, his consistency with the strikeout makes him invaluable to the Phillies.
3. Bobby Witt Jr.
- Total contract value: $288,777,777
- 2024 salary: $2,707,070
- Average salary: $26,252,525
- Signing bonus: $7,777,777
- Contract terms: 11 years
Contract Escalators
Yet another baseball contract with deferred money payable through 2038, Bobby Witt Jr. is the son of Bobby Sr., who played in the majors for 16 years. Starting his MLB career in 2022, Bobby Witt Jr. played shortstop for the Kansas City Royals and was a World Baseball Classic team member who captured a silver medal for the USA in 2023. Between his ability to get on base, hit the long ball, and steal bases, Bobby Witt Jr.’s contract already seems like a bargain.
2. Yoshinobu Yamamoto
- Total contract value: $325,000,000
- 2024 salary: $9,166,666
- Average salary: $27,083,333
- Signing bonus: $50,000,000
- Contract terms: 12 years
Future Superstar
Japanese-born Yoshinobu Yamamoto is currently the holder of the second-largest contract in major league baseball. A starting pitcher for the Los Angeles Dodgers, Yamamoto is under contract to the team for the next 12 years. Coming to the Dodgers, already a superstar in Japan, Yamamoto has already proven to be a massive hit in the US. His Japanese record of 70 wins and 29 losses is exactly why the Dodgers were willing to hand over $325,000,000 million during Yamamoto’s contract.
1. Shohei Ohtani
- Total contract value: $700,000,000
- 2024 salary: $2,000,000
- Average salary: $70,000,000
- Signing bonus: N/A
- Contract terms: 10 years
Massive Contract
Undeniably the biggest name currently in baseball, Shohei Ohtani holds the biggest and potentially wildest contract in MLB history. While Ohtani will only earn two million dollars per season through 2034, his deferred money kicks in after 2034. At this time, Ohtani will make around $70,000,000 million per year. Given what major league baseball has seen so far from Ohtani between his 38-19 record in pitching and his 199 home runs as a designated hitter, Ohtani is arguably worth even more contract money than he’s going to make from the Los Angeles Dodgers.
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