UPDATE 8/1: Verlander was traded to the Houston Astros for two prospects. The Mets will reportedly pick up $35 million of his combined $59 million in remaining salary through 2024.
The 2022 AL Cy Young winner just secured a major bag in the Big Apple — Boardroom takes a look at the Mets’ Justin Verlander contract particulars.
Mets fans smarting from the departure of staff ace Jacob deGrom to the Texas Rangers in free agency weren’t licking wounds all that long. former MLB slugger Carlos Baerga was (surprise!) the first to report that three-time Cy Young Award winner Justin Verlander agreed to move on from the World Series champion Houston Astros and write a new (and likely final) chapter of his Hall of Fame career in Queens.
And the reported figures are of the serious variety: two years and $86.66 million, per insider Jon Heyman of the New York Post, plus a third-year option that can vest for 2025.
The 2022 season marked the first for the 39-year-old Verlander after undergoing Tommy John surgery, and it’s hard to imagine his final campaign with the Astros going any better. A ninth All-Star selection? Check. A career-best 1.75 regular season ERA and 0.829 WHIP? Check. A second World Series championship? Yep! A third AL Cy Young Award? You bet.
Now, his reward is not just a major payday, but a reunion with former Detroit Tigers teammate Max Scherzer on a team that won 101 games last season.
With that in mind, let’s check out the full details of the Mets’ impressive Justin Verlander contract.
Get on our list for weekly sports business, industry trends, interviews, and more.
Justin Verlander Contract Details & Salary
All dollar figures via Jon Heyman of the New York Post.
Years: 2 (includes third-year vested option)
Total value: $86,666,666
Average annual value: $43,333,333
Free agency: 2025 or 2026
Fun fact: Verlander and Scherzer are now not just teammates, but reportedly tied atop the all-time list of highest average annual salaries in the history of baseball.
As Heyman and others have reported, the vested option carries a value of $35 million, making the max value of the contract three years and $121.66 million. It becomes a player option if Verlander meets an innings incentive during the 2024 season:
JV was certainly guaranteed an impressive pay raise after such a smashing season in H-Town. He made $25 million in 2022, bringing his career on-field earnings dramatically close to $300 million, placing him second among all active players in that category — he trails only his former Detroit teammate, Miguel Cabrera, who announced that the 2023 campaign would be his last.
Even if he retired today and didn’t earn a single dollar on his new deal, Spotrac notes Verlander as the highest-earning pitcher in MLB history by total salary and No. 4 overall.
Justin Verlander’s Career Earnings
TOTAL MLB EARNINGS THRU 2022: $299,588,222
PROJECTED SALARY EARNINGS THRU 2024: $386,254,888
PROJECTED SALARY EARNINGS THRU 2025 WITH OPTION YEAR: $421,254,888
Read More:
