Report: Yankees to take on $265M in Stanton deal
The New York Yankees appear to have made the biggest blockbuster trade of the offseason, acquiring reigning National League MVP Giancarlo Stanton from the Miami Marlins, but just how much money did they have to take back in the deal to acquire the slugger?
New York will take on $265 million of the $295 million remaining on Stanton's contract, reports The Athletic's Ken Rosenthal.
This number appears to make sense, as a source told MLB.com's Mark Feinsand the agreed-upon deal would be the Yankees receiving Stanton and assuming $265 million in exchange for second baseman Starlin Castro and two prospects.
The prospects going are Single-A pitcher Jorge Guzman and minor-league infielder Jose Devers (the cousin of Boston Red Sox third baseman Rafael Devers), reports the New York Post's Joel Sherman.
If the Yankees were to take on $265 million, it means they're getting Stanton for 10 years at a total cost of $243 million, if you factor in the $22 million salary owed to Castro.
The #Yankees are assuming $265 million of Giancarlo Stanton's contract, per @Ken_Rosenthal, and with the #Marlins taking on $22 million with Castro, Yankees get Stanton for $243 million over next 10 years or about half of what Bryce Harper would have cost
— Bob Nightengale (@BNightengale) December 9, 2017
This could potentially keep the Yankees under the luxury tax threshold in 2018.
Source: #Yankees to receive $30 million from #Marlins in trade. That is significant, because it counts as offset to luxury-tax obligation. So, it remains possible Yankees can avoid paying luxury tax in 2018. @JonHeyman first to report inclusion of cash. @MLB @MLBNetwork
— Jon Morosi (@jonmorosi) December 9, 2017
Stanton's contract also includes an opt-out clause following the 2020 season.