Kevin Garnett #5 of the Boston Celtics gets ready before the game against the Chicago Bulls on December 12, 2009 at the United Center in Chicago, Illinois. The Celtics won 106-80.
At the start of this past holiday weekend, Bobby Bonilla made headlines (again) when he received his $1.2 million direct deposit from the Mets—as he does every July 1. Despite having not played for the Metropolitans since 1999 and not having played at all since 2001, Bonilla will make a cool million every year through 2035.
This is usually held out as a classic case of the Mets being a dumpster fire of an organization (to which there is a large degree of truth) but Bonilla isn’t the only retired player still making bank from his old team. Over the last two decades, deferred money in contracts has become increasingly common—particularly in baseball—where a player and a team agree to a salary after said player is no longer with the team. For example, the deferred money in Max Scherzer’s contract with the Nationals will pay him $15 million annually until 2028.
So Bobby Bo just did deferred money before it was cool. In fact, some basketball players have jumped on the deferred money bandwagon over the last couple of years. And in a world where players like Jrue Holliday and Otto Porter make $25 million a year, it’s only reasonable to expect more of these deals in all sports in the future. So here are 11 retired players still raking in major paydays.
Tim Duncan
Last Game: 2016
Who’s Still Paying Him: Spurs
How Much They’re Still Paying Him: $1.8 million annually from 2016-17 through 2018-19
Duncan retired last summer with a year and $6.4 million left on his contract. And although he didn’t play last season, Duncan and the Spurs eventually agreed to a buyout. This will pay Duncan $1.8 million annually through next season. And unlike some other players on this list (namely Bonilla), what Spurs fans is pissed about Duncan getting paid.
Jay Cutler
Last Game: 2016
Who’s Still Paying Him: Bears
How Much They’re Still Paying Him: $2 million this season
The Bears paid Cutler about $90 million after acquiring him from the Broncos in 2009. And he was always just good enough to contend, but never good enough to actually win anything of consequence. Chicago made the playoffs just once with Cutler at quarterback.
$90 million down the drain.
Kevin Garnett
Last Game: 2016
Who’s Still Paying Him: Celtics
How Much They’re Still Paying Him: $35 million over seven years after retirement
With $325 million in career earnings, no NBA player has earned more in salary than Kevin Garnett did over his 21 years in the Association. And that number is set to grow—even after K.G. said goodbye to basketball last year.
Not only did Garnett make $8 million from the Timberwolves last season—despite having played a grand total of zero games—but Garnett also has $35 million still due to him from the Celtics. This will come in annual payments of $5 million.
They don’t call him “The Big Ticket” for nothing.
Tony Romo
Last Game: 2016
Who’s Still Paying Him: Cowboys
How Much They’re Still Paying Him: $5 million this season
Romo could still be making a lot more had he opted to continue playing this season—if Brock Osweiler got $72 million, imagine what Romo could have gotten?
Well, he probably won’t get to do that this season being that he’s retired. But he will have the benefit of two incomes: his undisclosed CBS salary and the $5 million the Cowboys still owe him. After that, Romo will have to rely solely on his six-to-seven-figure salary at CBS. Boo hoo.
Todd Helton
Last Game: 2013
Who’s Still Paying Him: Rockies
How Much They’re Still Paying Him: $1.3 million annually from 2014-2023
Peyton Manning’s former backup at Tennessee made sure he’d be cashing in for years to come on his final MLB contract. The two-year, $9 million deal he inked with the Rockies in 2012 called for $13.1 million in payments to be made over a 10-year stretch from 2014-2023.
Josh Smith
Last Game: 2016
Who’s Still Paying Him: Pistons
How Much They’re Still Paying Him: $5.3 million annually, 2015-16 through 2019-20
Smith went the Stephon Marbury route this season by signing to play in China. But he’s still making bank in the States.
When the Pistons decided they were through with Smith in 2014, they opted to eat the remaining money left on his contract by paying him $5.3 million per season through 2020. That’s $26.5 million for a guy who isn’t even playing for your team. Smith made more last year than Giannis Antetokounmpo did.
Manny Ramirez
Last Game: 2011
Who’s Still Paying Him: Red Sox
How Much They’re Still Paying Him: About $2 million annually from 2011-2026
“Manny being Manny” apparently entails getting paid millions to do whatever you want.
Ramirez’s eight-year, $160 million contract with the Red Sox in the 2000 offseason (worth about $223 million today) still stands as one of the largest in baseball history—and this doesn’t even include the money Ramirez is still making. The contract featured about $32 million in deferred money to be paid from 2011-2026, meaning Manny won’t have to worry about not having a seven-figure salary until he’s 54.
Considering the Red Sox won two World Series with Manny though, it’s safe to say they got a solid return on investment.
Steve Young
Last Game: 1999
Who’s Still Paying Him: Los Angeles Express (USFL)
How Much They’re Still Paying Him: 43-year, $40 million contract signed in 1984
OK, the USFL isn’t actually still paying Steve Young. But it could have been—and the bizarre nature of his contract lands him on this list. Here’s the story:
In 1984, Young signed a four-year, $40 million contract with the USFL’s Los Angeles Express. Payments for this contract were slated to go on for 43 years, meaning that they would continue until 2027. But when the league folded and Express owner J. William Oldenberg began experiencing financial issues, Young was given an option with the remaining money on his contract: He could either take $1 million up front or an annuity. Young took the money up front, and probably missed out on millions by doing so.
Bret Saberhagen
Last Game: 2001
Who’s Still Paying Him: Mets
How Much They’re Still Paying Him: $250,000 annually from 2015-2028
Saberhagen’s deal with the Mets never gets the press coverage that the Bonilla deal does—perhaps because he’s making less and Mets fans remember Saberhagen more fondly. Saberhagen’s original three-year, $15.3 million contract inked with the Mets in 1992 included annual deferments of $250,000, which will pay Saberhagen $3.5 million total by 2028. Saberhagen last pitched for the Mets in 1995.
By the way, Mets fans: The team still pays Carlos Beltran about $3.1 million a year too—but that’s due to end next year.
Ichiro Suzuki
Last Game: Still playing
Who’s Still Paying Him: Mariners
How Much They’re Paying Him: $25 million by 2032
The 43-year-old Ichiro is still playing for the Marlins, but with his age and his .210 batting average, it’s looking like this might be his last season. But 2017 definitely won’t be the last year the future Hall of Famer gets a big-league paycheck: The Mariners still owe him $25 million in deferred money on a contract signed in 2007.
Ken Griffey Jr.
Last Game: 2010
Who’s Still Paying Him: Reds
How Much They’re Still Paying Him: $3.6 million annually from 2009-2024
“Junior” signed a nine-year, $116 million contract in 2000—he actually took a hometown discount to play in Cincinnati, which is where the original Ken Griffey played in the 1970s. He rejected an eight-year, $148 million extension from the Mariners a year earlier. But he’ll more than make up that difference from the Reds in retirement.
