Paul Skenes signed a 1-year contract with the Pirates on July 19, 2023 for $9.2 million after being drafted #1.
1.July is in the middle of the MLB season. What happens when the contract nears its end?
2. Skenes is on a clear trajectory to the majors, but remains in the minors. How does it benefit the Pirates to keep him there?
Obviously they’re doing what’s best for the Pirates, but I’d like to know how it all works from the inside financially bc I have no idea.
In: Economics
A draft pick doesn’t sign a 1-year deal… that’s more like a drafting/signing bonus. Besides that, he gets a minor league salary, which are very low (like $25k/season). The team has full control over his contract through the minors and for 5 years once he makes the MLB roster. Which is part of the reason why teams don’t want to rush players to the majors. They prefer to let them develop, learn the pro game, etc. in the minors to prolong the team control for as long as possible.
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