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MLB reportedly agreed to pay veteran players like New York Yankees’ Gerrit Cole and Los Angeles Angels’ Mike Trout just a little over 2 percent of their daily salaries for the next 60 days as the league delayed the start of the season in the wake of the coronavirus pandemic.
Trout and Cole were on track to earn $193,548 a day during the 186-day season from their $36 million salaries for the 2020 season but MLB and the players’ association reached an agreement last week that will pay each player $4,775 per day, just 2.5 percent of what they would have earned per day, The Associated Press reported Tuesday.
Under the reported terms of the deal, teams are combining to give $170 million in advance pay to players on 40-man rosters, injured lists and outright assignments to the minor leagues. The payments will be made in equal installments on the normal payroll schedule and do not have to be repaid if the season is scrapped.
Mike Trout #27 of the Los Angeles Angels bats during a game against the Cincinnati Reds on Tuesday, February 25, 2020 at Tempe Diablo Stadium in Tempe, Arizona. (Photo by Alex Trautwig/MLB Photos via Getty Images)
Money is also being split into four classes based on contract status, according to the Associated Press.
Young players not yet eligible for salary arbitration have what baseball calls split contracts, with different salaries depending on whether the player is in the major leagues or in the minors. Payments to the more senior players were determined by accounting for the less senior players, then dividing the remainder among players with so-called straight salaries — the same amount in the majors and minors.
A player receives $275 daily if his salary while in the minors is $46,000 to $91,799 while those with salaries from $91,800 to $149,999 get $500 daily. Players with salaries in the minors of $150,000 or more receive $1,000 daily.
Illustrating the huge gap between unionized major leaguers and those with minor league contracts, MLB said Tuesday it was extending its $400 weekly allowances through May for players with minor league deals.
The agreement covers from March 26, the original opening day, through May 24 or when the season starts, whichever comes first.
The Associated Press contributed to this report.