Here's why MLB player returned $500K in pay
San Francisco pitcher Jeremy Affeldt corrected a clerical error in his favor even after management told him to keep the money.
Don't cost them runs, don't blow saves, don't shift games that were in the "W" column into "L" territory. Since arriving in San Francisco in 2009, Affeldt's largely upheld those simple criteria by going 10-9 with 10 saves and giving up just two runs in 15 playoff appearances while helping the Giants to World Series wins in 2010 and 2012.
That he also saved the team $500,000 along the way by pointing out a clerical error in his contract didn't hurt, either.
Hank Schulman of The San Francisco Chronicle points out Affeldt was set to earn $4 million in 2010 under an existing contract with the Giants when the team negotiated a two-year, $10 million extension. When the 2010 amount was rewritten into the new contract, someone goofed and typed in $4.5 million instead. The Giants and Affeldt signed it without recognizing the mistake.
Affeldt got opinions from the Players Association, agent Michael Moye and even Giants assistant general manager Bobby Evans saying that it was the team's slip-up and he could keep the extra $500,000. Moye added an addendum to that advice, though, saying that "as a man who represents integrity, I'm saying you should give it back."
Such a conundrum. So how would this story end? Fortunately, in modern Major League Baseball, even middle relievers write books. In his recently released tome "To Stir A Movement," Affeldt writes that he couldn't keep the money on good conscience and asked to have the contract rewritten to excise the extra cash.
"I talked to Bobby the next day and said, 'I can't take that money,'" Affeldt said. "'I won't sleep well at night knowing I took that money because every time I open my paycheck I'll know it's not right.'"
It seems a little trite and "aw shucks," but in the context of the league that employs Affeldt, it's nothing shy of miraculous. It's a league where a highly paid slugger in a major market still makes the same amount for batting close to .200 as he would if he were putting up 50 home runs, and where players routinely involved in scandals involving performance-enhancing drugs have ironclad contracts that still pay them eight figures a year into their 40s.
Affeldt didn't have to kick $500,000 back to a team that has AT&T's (T) name on its stadium and nearly $140 million on its payroll, but his actions are as rare of an occurrence in Major League Baseball as a classic doubleheader.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
It's easy to unknowingly do damage to your credit score, but sometimes people worry unnecessarily -- or put faith in things that don't help.
- Chinese investors are buying up Detroit
- The 7 deadly sins of winter driving
- 8 questions to ask before Mom and Dad move in
- High deductibles fuel new worries of Obamacare sticker shock
- How to use your credit card to donate to charity
- Try this instead of raising the minimum wage
- People left $500,000 in coins at airports last year
- How your driving can affect your credit
- Obamacare projected to cost hundreds of billions less
[BRIEFING.COM] Recent action saw equity indices return towards their lows after the Nasdaq made a brief appearance in positive territory. Overall, the losses remain limited in scope as the S&P 500 (-0.1%) trades inside of a four-point range.
At this juncture, there are just three sectors-consumer staples (-0.7%), telecom services (-0.5%), and utilities (-0.7%)-sporting losses larger than 0.3%, but only the staples sector is large enough to have a say in the direction of the broader ... More
More Market News
It will be nearly impossible for Flowers to duplicate the growth rate of a decade ago.