In a surprising turn of events just before the new year, the Arizona Diamondbacks made an unprecedented move by signing former Cy Young winner Corbin Burnes to a six-year, $210 million contract. This deal surpasses their previous record-setting agreement with Zack Greinke in 2015. The contract includes significant deferred payments and a unique opt-out clause after two years, positioning Burnes as one of the highest-paid starting pitchers in Major League Baseball. His decision to join the Diamondbacks was influenced by personal and financial factors, including the favorable tax rates in Arizona. This bold move signals the team's ambition to compete in the highly competitive NL West.

Financial Details and Incentives Behind the Deal

The structure of Burnes' contract is complex, featuring substantial deferred payments and a lucrative signing bonus. A total of $64 million will be deferred, along with a $10 million signing bonus payable within 30 days of MLB approval. Burnes will receive an additional $20 million in each of 2025 and 2026, with $10 million deferred each season. These financial arrangements provide both immediate benefits and long-term security for the pitcher.

Furthermore, the contract grants Burnes the option to opt out after the second year, which could prove advantageous if market conditions change unfavorably for him post-2026. If he chooses to opt out, the deferred payments from 2025-2026 will be paid in installments over the following years. Should Burnes complete all six years of the contract, he would continue receiving payments well into the next decade, ensuring financial stability far beyond his playing career. The no-trade provision until March 31, 2027, also guarantees that Burnes can remain confident about his future with the Diamondbacks up to his potential opt-out date.

Motivations and Implications for the Diamondbacks

Burnes’ decision to sign with the Diamondbacks reflects a combination of personal and professional considerations. He and his family reside in Scottsdale during the off-season, making Arizona an attractive location. Additionally, the state’s low income tax rate of 2.5% offers significant financial advantages compared to other states like California or Wisconsin. This tax benefit likely played a crucial role in his choice, as it directly impacts his overall earnings.

The Diamondbacks' aggressive pursuit of Burnes demonstrates their commitment to building a formidable pitching staff capable of competing in one of baseball's toughest divisions. With ownership and management willing to make bold moves, the team aims to challenge powerhouses like the Dodgers and Padres. By securing Burnes, they have not only bolstered their roster but also sent a clear message that they are ready to invest heavily in talent to achieve success on the field. This strategic move positions the Diamondbacks as serious contenders in the coming seasons, setting the stage for a potentially transformative era in franchise history.