Check out the details of Seattle Mariners icon Ichiro Suzuki 5-year $90 million contract extension that runs until 2012...
From the Associated Press:
Suzuki, MVP of last week’s All-Star game, gets a $5 million signing bonus and annual salaries of $17 million from 2008-12 under the terms of last Friday’s deal.
The All-Star outfielder’s new contract extension calls for the team to defer $25 million of the $90 million he is owed, money that the team will not have to fully pay until at least 2032.
Seattle will pay $12 million in salary each year and defer $5 million per season at 5.5 percent interest. Suzuki, who turns 33 in October, will receive the money in annual installments each Jan. 30 starting with the year after his retirement from the major leagues.
Because of the deferred money, the average annual value of the contract is discounted to $16.1 million under the provisions of baseball’s collective bargaining agreement.
In addition, he gets a housing allowance of $32,000 next year, an increase of $1,000 from this season, and the amount will rise by $1,000 each year. He also will be provided with either a new jeep or Mercedes SUV by the team, which also gives him four first-class round trip tickets from Japan each year for his family. Provisions for the Mariners to give him a personal trainer and an interpreter were continued.
Suzuki has an impressive career average of .333. Ichiro's rookie year in 2001 sparked a record setting 116-win season for the Mariners. He also set the single season record for hits with 262 in 2004.