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Dodgers finalize Teoscar Hernández contract

MLB: Seattle Mariners at Cincinnati Reds Katie Stratman-USA TODAY Sports

The Dodgers on Friday made official their contract for outfielder Teoscar Hernández, signing the outfielder for one year and $23.5 million.

Hernández, who made the All-Star team in 2021 while with the Blue Jays, hit .258/.305/.435 with a 105 wRC+, 26 home runs, and 29 doubles for the Mariners in 2023. He’s hit left-handed pitchers well throughout his career, to the tune of .275/.329/.557 with a 136 wRC+, including .287/.307/.511 with seven home runs and 11 doubles in 150 plate appearances last season with Seattle.

As reported on Sunday, Hernández will be paid $15 million in 2024, with the remaining $8.5 million spread between 2030-39. He’ll get $850,000 every July 1 for those 10 years, per the Associated Press.

By my rough calculation, that lowers the net present value of the deal to roughly $20.43 million for competitive balance tax purposes, using 4.43 percent as the discount rate, the federal mid-term rate in Section 1274(d) from October 2023, as called for by the collective bargaining agreement.

Deferrals are nothing new for Dodgers contracts, though Hernández is nowhere near the scope of Shohei Ohtani deferring $680 of his $700 million deal to the 10 years after his contract ends. Hernández has deferred 36.2 percent of his salary, comparable to Mookie Betts (31.5 percent) and Freddie Freeman (35.2 percent), though on a smaller scale.

Hernández can also earn up to $4 million in bonuses this season, per a source, including $1 million for winning a Silver Slugger, an award he Hernández won in both 2020 and 2021 with Toronto.

He can also earn bonuses based on MVP voting — $3 million for finishing in the top five, $2 million for finishing from sixth and 10th, and $500,000 for finishing from 11th to 15th. Any award bonuses earned by Hernández would be paid on December 15, 2024.

Hernández finished 11th in American League MVP voting in 2020, garnering one ninth-place vote and six 10th-place votes. His other year receiving MVP votes was in 2021, when he was 19th in the AL with a single ninth-place vote.

Hernández takes up one of the 40-man roster spots opened Thursday when Michael Busch and Yency Almonte were traded to the Cubs. The Dodgers now have 39 players on the 40-man roster, including 17 position players and 22 pitchers.