The New York Yankees have released outfielder Vernon Wells with one year remaining on what has been one of the worst Major League Baseball contracts in recent history.
Even though Wells has been released, MLB contracts are guaranteed and he will still be paid his 2014 salary of $21 million. It is the final year of the 7-year, $126 million contract Wells signed with the Blue Jays prior to the 2008 season.
The move is actually not that costly for the Yankees, who are only responsible for $2.4 million of the $21 million. The Los Angeles Angels will have to pay the remaining $18.6 million as part of the trade prior to last season.
When the contract ends after the 2014 season, Wells will have received ~$45 million from the Blue Jays, $67.1 million from the Angels, and $13.9 million from the Yankees since 2008. During that time, Wells hit .255 (.302 OBP), averaged 19 home runs and eight stolen bases per season, and was named to one All-Star team (2010).
More From Business Insider
- The 20 Highest-Paid Players In Major League Baseball
- The 26 Highest-Paid Players In The NBA
- The 25 Highest-Paid Players In The NFL
- Sports & Recreation
- Major League Baseball
- Vernon Wells
- New York Yankees