The Miami Marlins signed Giancarlos Stanton to a three-year deal worth $240 million, bringing the team’s total spending to $275 million.
However, Giancarli Stanton will have to contend with an average of $8 million in luxury tax on each of his first two years in Miami, a move that could make him a prime target for luxury brands.
The Marlins are going all in on Stanton, the only player to average at least 30 home runs, 300 RBIs and 500 runs a season in the past 15 years.
They’re also banking on Stanton having a career year, as he enters the final year of his deal.
Stanton was projected to earn $30 million to $40 million per year when the Marlins drafted him.
His contract was worth $140 million over three years.
But the franchise is set to make about $1.3 million per home run this season, $2 million in each of the next two seasons and $1 million each of those three seasons.
“I think he’s going to be a huge asset,” a top Marlins executive told ESPN’s Buster Olney.
“He’s going at the right time for the market and for the team.
If you look at Giancarlias success over the last two years, you’ll see he’s been a great player.”
Stanton’s first contract in Miami was worth an estimated $22 million, but his deal was inked in 2014.
This year, Stanton’s deal will go through 2021 and the team will make a guaranteed $15 million in base salary, a deal that will pay Stanton about $18 million per season.
Stardust, 28, has not appeared in the majors since September 15, 2015, when he was traded from the Milwaukee Brewers to the Marlins for outfielder Ryan Braun.
The Miami Marlins are set to have a payroll of about $125 million for the 2017 season, a number that will increase to about $150 million in 2020, a figure that is forecast to jump to about half of their projected 2018 payroll of $190 million.
The team is hoping to increase the payroll from about $80 million in 2021 to $110 million in 2022, the final season of Stanton’s contract.
The team is expected to use the luxury tax to re-sign Stanton, which could be a major selling point to some of the teams that covet his services.
“The Marlins will definitely want to retain Giancarla Stanton, and we’ll be there to try to help him do that,” a team official told ESPN.
“We will be there, if not directly, in a very active way to try and help him and help the Marlins get back to where they want to be.”