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Scott Kazmir contract includes opt-out clause, deferred money

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LOS ANGELES -- Scott Kazmir can earn as much as $48 million on his three-year contract with the Dodgers, or he can opt out after just one year in Los Angeles. Here are the details of his new deal.

Kazmir will get a $5 million signing bonus, then salaries of $11 million in 2016, $16 million in 2017 and $16 million in 2018. But $8 million of each season will be deferred without interest for three years, such that the left-hander will be paid over six years:

2016: $5 million bonus plus $3 million salary
2017: $8 million
2018: $8 million
2019: $8 million (deferred from 2016), payable on Dec. 15
2020: $8 million (deferred from 2017), payable on Dec. 15
2021: $8 million (deferred from 2018), payable on Dec. 15

With the deferred money, MLB will count the equivalent average annual value as roughly $15 million annually. The Associated Press reports that MLB values the total deal as $44.954,652 while the players association values the deal at $45,335,913.

Should Kazmir opt out after 2016, he would still receive $16 million (the signing bonus, his salary in 2016, plus the deferred money, which would be payable by Jan. 15, 2017 per the Associated Press). The Dodgers, as was the case with Zack Greinke, will be able to extend a qualifying offer to Kazmir should he decide to opt out.

"The knee-jerk reaction on our side is you don't necessarily want to relinquish control of the dynamic of how the contract plays out," general manager Farhan Zaidi said. "But I do think in certain cases, when there is a lot of value to the player, it can make sense. In Scott's case, he and his representatives are aware that next year's starting pitching market will be a seller's market."

Joel Sherman of the New York Post was the first to report news of deferred money.

The Dodgers now have $170.89 million committed to 16 players in 2015.