Tax-equalization provision in deal
NEW YORK -- Carlos Delgado wouldn't be taxed by a trade.
The first baseman has a special tax-equalization provision in the $52 million, four-year contract he agreed to with the Florida Marlins last week, according to details of the deal obtained by The Associated Press.
While Florida doesn't have a state income tax, many states with major league teams do. Delgado doesn't have a no-trade clause and if he is dealt, the contract requires that the club acquiring him make up any difference in state and local taxes.
"He'll net out, regardless where he goes if traded, exactly what he would have netted had he remained in Florida," Delgado's agent, David Sloane, said Tuesday. "So if it's to a place with state and city tax, then he'll be made whole for state and city taxes."
Delgado's contract calls for salaries of $4 million this year, $13.5 million in 2006, $14.5 million in 2007 and $16 million in 2008. The Marlins have a $12 million option for 2009 with a $4 million buyout, but the option would become guaranteed at $16 million if Delgado accumulates 30 points under a system in which he gets 10 points for winning the MVP award down to one point for finishing 10th, 20 points for the World Series MVP award and 10 for the league championship series MVP award.
Delgado will receive half of each year's salary during the season, and half each Nov. 30. He also would earn $50,000 if he is selected to the All-Star team, $500,000 if he is the World Series MVP, $100,000 if he is the LCS MVP, $25,000 if he wins a Silver Slugger and $25,000 if he wins a Gold Glove.
He gets $100,000 if he wins the NL MVP award, and has a unique provision if he finishes second: He gets $50,000, but only if he finishes behind Barry Bonds, who has won seven MVP awards, including the last four.
"They said we have a policy that we only pay for winning," Sloane said, referring to the Marlins. "What can I say, [Bonds] has had a monopoly on the MVP."
Copyright 2005 by The Associated Press
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