The Los Angeles Dodgers and catcher Will Smith, who turns 29 tomorrow, have agreed on a landmark 10-year contract extension valued at $140 million. This deal, notable for its length and value, positions Smith as the 4th highest average paid catcher in Major League Baseball (MLB). The contract includes a $30 million signing bonus, with payments divided over the first two years. Additionally, the agreement features $50 million in deferred money, which will be paid out annually between 2034 and 2043. This strategic structuring allows the extension to count for approximately $12.2 million annually towards the Dodgers' Competitive Balance Tax (CBT) payroll. Smith's contract sets a new precedent as the first time a catcher has received a contract of 10 years or more, surpassing Buster Posey's 9-year deal with the San Francisco Giants.
Will Smith's extension will count for roughly $12.2 million annually toward the Dodgers' CBT payroll, per source, thanks to the $50 million in deferred salary in the deal.
Will Smith's 10-year, $140 million deal also includes $50 million in deferred money, per source https://t.co/7beAkfBC7w
Breakdown of Will Smith’s 10-yr, $140M extension, per source: $30M signing bonus 2024: $13.55M 2025: $13M 2026: $13M 2027: $13M 2028: $9.5M 2029: $9.5M 2030: $9.5M 2031: $9.5M 2032: $9.5M 2033: $9.95M The deferrals -- $5M per season -- will be paid out annually between 2034-43.
Smith will receive $15 million of the signing bonus in Nov. 2024 and the other $15 million in January 2025, per source. https://t.co/ROHrmESYs0
Will Smith’s 10-year, $140 million deal includes a $30 million signing bonus, per source.
Dodgers lock up Will Smith with 10-year, $140 million extension https://t.co/waquxfqio3 https://t.co/b7yMHbdjAb
Source: Will Smith’s new deal includes a $30-million signing bonus that will be paid in the first two years of the contract.
Dodgers, Will Smith finalize 10-year extension https://t.co/WWFTrY06Nd
The best catcher in baseball is here to stay. The Los Angeles Dodgers and catcher Will Smith agree to a 10-year contract extension through the 2033 season. Congratulations, Will! https://t.co/tMB5kCwqJp
The Dodgers have been flexing their financial muscles all year. Now, they're signing star catcher Will Smith to a 10-year extension. Our @ETreuden tells us what it means to have their backstop locked up: https://t.co/ymZlG0XFck
Reports: Will Smith, Dodgers agree on 10-year, $140 million contract extension https://t.co/rGDXabHq0M
#Dodgers agree to ten-year, $140 million contract extension with C Will Smith @BrandonLondonTV with the report ⬇️ https://t.co/vqX0Cq5DUp
The Top 5 contracts signed by the #Dodgers this offseason combine for $1.325 billion. Shohei Ohtani, $700M Yoshinobu Yamamoto, $325M Will Smith, $140M Tyler Glasnow, $136.5M Max Muncy, $24M https://t.co/DVjdOebcKU
Dodgers sign star catcher Will Smith to lengthy contract extension https://t.co/b7gEItK2QX https://t.co/VBzrkJjpIK
Dodgers, Will Smith finalize 10-year contract: report. https://t.co/blk6vDdR6V Click the image to read more:
Will Smith's 10-year extension is the first time a catcher has gotten a contract length of 10 years or more. The previous longest was Buster Posey's 9-year deal with the Giants. https://t.co/tJLRIg4LS9
The Dodgers have reportedly agreed to a 10-year extension with catcher Will Smith. Smith has the second best OPS among catchers over the last three seasons (min. 500 PA). https://t.co/LBFEDqyzQO
Report: Dodgers, Will Smith agree to 10-year, $140 million contract extension - By: @DustinNosler https://t.co/PTbKNK1M3M https://t.co/v0YD45REhy
Dodgers, C Will Smith reportedly agree to 10-year extension, per multiple reports including https://t.co/Z3s2EpgF39’s Mark Feinsand. https://t.co/blYWSmyk2D
"The @Dodgers checkbook is back open" #FTLive reacts to Will Smith's 10 year, $140 million extension + how will it affect Adley Rutschman as possibly the next catcher to receive an extension? ▶️ https://t.co/S7FyF32dSO https://t.co/bgqyb7EVpV
Report: Will Smith, Dodgers finalizing extension https://t.co/LsMU9VxO1P
Report: Dodgers, Will Smith finalizing 10-year, $140M extension https://t.co/PTRz4ndBBI
Will Smith and the Dodgers agree to a 10-year contract extension worth $140M, per @juanctoribio and @Feinsand The deal "includes some deferred money." https://t.co/VuyjVsfPQJ
Breaking: Will Smith and the Los Angeles Dodgers are finalizing a 10-year, $140 million contract extension, sources tell @JeffPassan. https://t.co/8eX6AL6DCT
Will Smith extension: Dodgers agree to 10-year, $140 million deal with All-Star catcher, per report https://t.co/5uoVrHRuJ5
Will Smith and the Dodgers agree to $140M, 10-year extension. The cleanup hitter in one of the most compelling lineup tops ever gets rewarded. @JeffPassan on it
Will Smith's 10 year, $140M extension with the #Dodgers makes him the 4th highest average paid catcher in MLB. 1. J.T. Realmuto, $23.1M 2. Salvador Perez, $20.5M 3. Willson Contreras, $17.5M 4. Will Smith, $14M 5. Sean Murphy, $12.1M https://t.co/NgRkiNwngR
Will Smith and the Dodgers are finalizing a 10-year, $140M contract extension, per @JeffPassan. ✍️ https://t.co/X8I8HFoCPG
Will Smith (catcher, Los Angeles Dodgers) turns 29 tomorrow, so, Happy Birthday to him on his contract extension.
The Dodgers are finalizing a 10-year, $140M extension with Will Smith, per @JeffPassan. https://t.co/iaYxCQGl0A
Catcher Will Smith and the Dodgers are finalizing a 10-year, $140 million contract extension, sources tell ESPN. https://t.co/zijWxZaNnY
BREAKING: Dodgers and C Will Smith are finalizing a 10-year, $140M contract extension, per @JeffPassan 💰 https://t.co/7BvNiThEZI
The Dodgers are finalizing a 10-year extension for Will Smith https://t.co/dkWYSufe1Z
The Dodgers have their guy behind the plate for the next decade! Will Smith and the Dodgers are in agreement on a 10 year deal worth $140 million dollars, per @JeffPassan https://t.co/Kkh33B4ju6
Will Smith and the Dodgers are finalizing a 10-year, $140 million extension, sources tell me and @juanctoribio. The deal includes some deferred money.
BREAKING: Catcher Will Smith and the Los Angeles Dodgers are finalizing a 10-year, $140 million contract extension, sources tell ESPN.
With the news from @juanctoribio that Will Smith and the Dodgers are working to finalize an extension, he would become the third player from this early-February list to sign an extension (Wheeler, Tovar) https://t.co/REI0O95lCU
Dodgers, Will Smith "Working On" Long-Term Extension https://t.co/HTbf8mcpKP https://t.co/fMGFa44ABI
Star catcher Will Smith and the #Dodgers are working on a long-term extension, per source.