Dodgers Finalize $62.5M, 6-Year Deal With Olivera
LOS ANGELES (AP) — Cuban infielder Hector Olivera and the Los Angeles Dodgers have finalized a $62.5 million, six-year contract.
The agreement was reached in late March and was announced Tuesday after the 30-year-old successfully completed a physical.
He gets a $28 million signing bonus, of which $12 million is payable within five days of approval by the commissioner's office, $7.5 million by Aug. 1 and $8.5 million by Dec. 31.
Olivera receives salaries of $2 million this year, $4 million in 2016, $6 million in 2017, $6.5 million in 2018, $7.5 million in 2019 and $8.5 million in 2020.
Los Angeles has a $1 million conditional option for 2021 that can be exercised if Olivera has Tommy John surgery on his right elbow or has right elbow surgery attributable to an ulnar collateral ligament injury that causes him to be on the disabled list for more than 100 days during any one-year span. Olivera can become a free agent at the end of the agreement.
Olivera's deal will cause a $4,173,333 increase in this year's luxury tax for the Dodgers, who pay at a 40 percent rate at the payroll amount over $189 million. His agreement raises the Dodgers' luxury tax payroll to about $292 million, which projects to a tax of roughly $41 million.
Los Angeles cleared a spot on its 40-man roster by designating left-hander Eury De La Rosa for assignment.
In addition, the Dodgers agreed to a minor league contract with Cuban right-hander Pablo Fernandez.
Los Angeles said Olivera had a .323 career average in Cuba with 96 homers and 433 RBIs with Santiago from 2003-14, playing mostly first base and second.
The Dodgers said Fernandez was 32-30 with 40 saves in 21 starts and 156 relief appearances with Holguin (2007-14) and Matanzas (2012-13) and he was MVP of Cuba's All-Star Game in 2011 and '12.
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