Dodgers extend Mookie Betts for record 12 years, $365 million

Mookie Betts is a Dodger for the long haul. The team announced Wednesday that Betts has signed a 12-year extension through the 2032 season. It’ll reportedly guarantee him a whopping $365M in new money on top of this year’s $27M salary (which has been prorated to $10M due to the shortened 2020 season). Betts is represented by the VC Sports Group.

The contract represents the largest amount of new money ever promised to a Major League Baseball player on an extension or free-agent signing, topping Mike Trout’s previous high-water mark of $360M (over a shorter 10-year term). Trout was already signed at two years and $66.5M, so his total of 12 years and $426.5M tops Betts’ 13-year, $392M figure, but the $365M new-money benchmark is a notable record nevertheless.

The Betts extension, somewhat remarkably, marks the first time that the Dodgers have guaranteed in excess of $100M to a player under president of baseball operations Andrew Friedman. Though the team is known for its enormous — at times seemingly limitless — spending capacity, the Friedman regime has worked diligently to shed some prior undesirable commitments and creatively limbo underneath the luxury-tax bar. Doing so paved the way for the Dodgers to issue a historic contract to a premium talent.

After missing out on a free-agent pursuit of Gerrit Cole this winter, the team shifted its focus to acquiring Betts, who came to L.A. alongside David Price in a blockbuster trade that sent Alex Verdugo, Jeter Downs and Connor Wong to Boston. There was plenty of talk about the team’s hope for extending Betts, but he’d been outspoken about his desire to test the open market. Paired with the economic uncertainty stemming from this year’s unprecedented revenue losses, there was real reason to wonder whether a deal would get done.

Perhaps that economic turmoil made Betts more amenable to taking a deal now rather than testing the market, or perhaps he was simply willing all along to sign if a team exceeded Trout’s new-money guarantee. His exact thinking likely won’t ever be fully known, but the end result is that Betts now appears poised to spend the remainder of an already excellent career in Dodger blue.

Still just 27 years of age, Betts has produced at star-caliber levels since a 52-game MLB debut back in 2014. A career .301/.379/.519 hitter, Betts is already a four-time All-Star, a three-time Silver Slugger winner, a former American League MVP and batting champion, and a four-time Gold Glove winner. He’s clubbed 139 home runs and swiped 126 bases in 794 MlB games, showing off an impressive blend of power and speed, and his 13.5 percent walk rate over the past two seasons is nearly the same as his paltry 14.5 percent strikeout rate. Add in that Betts is regarded as an otherworldly defender — he’s third among all players in Defensive Runs Saved since 2015, regardless of position — and it’s easy to see why Betts is regarded among the game’s elite players.

The Dodgers already boasted at least one of those elite talents: reigning NL MVP Cody Bellinger. Betts and Bellinger will pair to form what could be baseball’s best one-two punch for at least the next four seasons, as Bellinger is controlled through at least the 2023 season. Out-of-nowhere slugger Max Muncy is also inked through the ’23 campaign on a highly reasonable three-year, $26M pact, so that trio should continue thriving in the heart of the order for the foreseeable future. The hope is that rising young talents like infielder Gavin Lux and catcher Will Smith will add to that long-term core. Looking shorter-term, the Dodgers are stacked with above-average contributors, including Corey Seager (controlled through 2021), Justin Turner (through 2020), Chris Taylor (through 2021) and Enrique Hernandez (through 2020).

From a payroll and luxury-tax standpoint, the Dodgers can afford to both sign Betts and still pursue a megadeal with Bellinger, should they see fit. Betts’ contract comes with a $30.4M annual luxury hit (or $30.1M, if they roll it into the current deal), which is sizable but still only represents about a seventh of next year’s $210M luxury cap. (That number could well rise in 2021 CBA negotiations, too.) Los Angeles already has more than $152M in luxury commitments on the 2021 books, including this new deal for Betts, but that number plummets to $73M in 2022. Betts is the only Dodger on a guaranteed deal for the 2023 season (although Bellinger, Walker Buehler and Julio Urias will all be arbitration-eligible).

With Wednesday’s agreement, Betts, Bellinger and Buehler look like the long-term faces of the Dodgers franchise, though the club has boundless young talent, a knack for high-profile trades and as previously noted, plenty of money to spend even with Betts pulling in more than $30M on an annual basis. The Dodgers have won seven straight NL West titles, and the Betts deal is a strong step toward continuing that trend. That, of course, won’t be enough to satisfy Betts, though. As the star put it during today’s introductory press conference: “I’m here to win some rings.”