Three-Inning Save: Dodgers extend Will Smith for 10 years, $140 million

Three-Inning Save: A Los Angeles Dodgers Podcast

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6M ago 24:27

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The Dodgers signed Will Smith to a 10-year contract worth $140 million, wiping out the final two years of salary arbitration for the All-Star catcher, plus another eight years after that. The deal was finalized on March 27, the day before the home opener at Dodger Stadium and the day before Smith's 29th birthday.

Smith is now signed through 2033. He bats cleanup for the Dodgers, behind Mookie Betts (signed through 2023), Shohei Ohtani (signed through 2033), and Freddie Freeman (signed through 2027). All four also share another trait, in that they have a lot of deferred salary in their contract, totaling $902.5 million. For Smith, like Ohtani, those deferrals will be paid annually from 2034-2043.

The contract for Smith puts the Dodgers payroll at roughly $320 million for competitive balance tax purposes. The Dodgers are already in the fourth and highest tier, such that for anything over $297 million in 2024 they will pay a 110-percent tax. At the moment, they are estimated to pay roughly $67 million in competitive balance tax for this season alone.