Biography & Early Wealth Journey
However, thanks to some creative financing in contract negotiations, the Red Sox are still paying both players years after they've left the team and retired from baseball entirely.
Manny Ramirez (L) and Dustin Pedroia (Matthew Healey/MediaNews Group/Boston Herald via Getty Images)
Pedroia spent his whole career with the Red Sox. He officially retired in 2021, though he hadn't played since 2019. Ramirez was traded to the Los Angeles Dodgers in 2008 and last played in a major league game in 2011, though he's bounced around various foreign and minor leagues in the years since.
Primary Income Streams & Multi-Million Contracts
Boston has the 14th-highest payroll in the major leagues this year, though fans might be a bit miffed that millions are going to two players who are no longer with the team. Pedroia will make $2.25 million this season and will continue to earn that amount every season until 2028.
If there's one saving grace from that contract, it's that Pedroia at least played for the team within the past decade. It's a small consolation but still doesn't seem nearly as bad as the team's deal with Ramirez.
Since 2011—the last year Ramirez played major league ball—the Red Sox have been paying him $2 million per season. He'll continue earning until 2026, a whopping 18 years after he last played for the team. In total, he'll make $32 million over 16 seasons.
Teams make deferred deals all the time. Bobby Bonilla has an entire day named after him because he keeps making over a million dollars every July 1. And these franchises probably won't learn from their mistakes since it's easier to think about the modern day and leave future money issues for another day.
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Real Estate, Luxury Assets & Personal Investments
That means more players will have opportunities to continue earning long after their playing careers are done. It's a pretty sweet setup if you can score it!