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How Detroit Tigers' Colt Keith can add extra $18 million in 2030-32 from salary escalators
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- How Detroit Tigers' Colt Keith can add extra $18 million in 2030-32 from salary escalators
Detroit Tigers second baseman Colt Keith , who signed a long-term contract extension before his first MLB game , is guaranteed to make $28.6 million over the next six years, but could make up to $82 million over the next nine years.
Getting from $28.6 million to $82 million depends on club options and salary escalators.
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The 22-year-old received a $2 million signing bonus and will earn $2.5 million in 2024, $3.5 million in 2025, $4 million in 2026, $4 million in 2027, $5 million in 2028 and $5 million in 2029.
Colt Keith last season with Triple-A Toledo.
There are club options, which the Tigers will decide to exercise or decline, for $10 million in 2030 ($2.6 million buyout), $13 million in 2031 ($1 million buyout) and $15 million in 2032 ($2 million buyout).
Still, that's only $64 million.
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Keith can earn an additional $18 million in the 2030-32 club option years through salary escalators to bring the value of the contract to a maximum $82 million over nine seasons.
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If he maxes out the escalators, the base salary of the club options will increase from $10 million to $13 million in 2030, from $13 million to $19 million in 2031 and from $15 million to $24 million in 2032.
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Here's what Keith must do to make an extra $18 million in the 2030-32 seasons and get the most out of his contract extension, according to multiple sources:
What happens in 2024-29 impacts salary in 2030-32:The club option salary for the 2030-32 seasons will escalate by the following amounts up to a maximum escalation of $3 million in each of the 2030, 2031 and 2032 seasons for achievements during the 2024-29 seasons.
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MVP 1st place (2024-29): $3 million
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MVP 2nd or 3rd place (2024-29): $1 million
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MVP 4th or 5th place (2024-29): $500,000
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MVP 6th to 10th place (2024-29): $250,000
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Gold Glove 1st place (2024-29): $250,000
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Silver Slugger 1st place (2024-29): $250,000
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Voted All-Star Game Starter (2024-29): $100,000
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Selected All-Star Game Reserve (2024-29): $50,000
What happens in 2030 impacts salary in 2031-32:The club option salary for the 2031-32 seasons will escalate by the following amounts up to a maximum escalation of $3 million in each of the 2031 and 2032 seasons for achievements during the 2030 season.
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MVP 1st place (2030): $3 million
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MVP 2nd or 3rd place (2030): $1 million
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MVP 4th or 5th place (2030): $500,000
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MVP 6th to 10th place (2030): $250,000
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Gold Glove 1st place (2030): $250,000
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Silver Slugger 1st place (2030): $250,000
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Voted All-Star Game Starter (2030): $100,000
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Selected All-Star Game Reserve (2030): $50,000
What happens in 2031 impacts salary in 2032:The club option salary for the 2032 season will escalate by the following amounts up to a maximum escalation of $3 million in the 2032 season for achievements during the 2031 season.
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MVP 1st place (2031): $3 million
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MVP 2nd or 3rd place (2031): $1 million
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MVP 4th or 5th place (2031): $500,000
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MVP 6th to 10th place (2031): $250,000
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Gold Glove 1st place (2031): $250,000
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Silver Slugger 1st place (2031): $250,000
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Voted All-Star Game Starter (2031): $100,000
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Voted All-Star Game Reserve (2031): $50,000
Without any escalators, Keith will receive $10 million in 2030, $13 million in 2031 and $18 million in 2032 if the Tigers exercise each of the three club options.
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Here is the MVP-caliber scenario: If Keith wins MVP in 2024-29, he will tack on $3 million per season in 2030 ($13 million), 2031 ($15 million) and 2032 ($18 million). If he wins MVP in 2030, he will tack on another $3 million per season in 2031 ($18 million) and 2032 ($21 million). If he wins MVP in 2031, he will tack on another $3 million in 2032 ($24 million).
There's the additional $18 million, maxing out the contract extension at $82 million over nine seasons.
Keith could earn a minimum salary of $15 million or a maximum salary of $24 million in 2032, the final year of his contract. After the 2032 season, assuming all three club options are picked up by the Tigers, Keith will enter free agency for the first time at age 31.
Contact Evan Petzold at epetzold@freepress.com or follow him @EvanPetzold .
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This article originally appeared on Detroit Free Press: Colt Keith's Detroit Tigers contract: He can earn extra $18 million
