I’m going to explain why Shohei Ohtani’s $700 million contract with the Los An
geles Dodgers will not equal $700 million in terms of MLB accounting or the pres
ent-day value of the deal.
我來解釋為何大谷簽的7億鎂合約在會計上與現值上不等於7億鎂。
When money in a contract is deferred, the competitive-balance tax number — the
luxury tax — is discounted. With a source saying a “majority” of Ohtani’s co
ntract is deferred, the discount could be significant. Typically, a CBT number i
s the average annual value of a deal — in this case $70 million. But depending
on the size and length of the deferrals, Ohtani’s CBT number is likelier to win
d up in the $40-50 million-a-year range, an enormous benefit for the Dodgers.
延期付款後，競爭平衡稅（=豪華稅）會打折。消息來源稱大谷的合約大部分都會延期付款
，因此可能會有很明顯的折扣。
競爭平衡稅通常依據合約的平均年薪（以本案例來說為70M）。但根據延遲的規模以及長度
來看，大谷的情況可能是每年40-50M，這對躲人來說是非常大的利多。
The deferrals also affect the net present value of the deal. There’s a rule of
thumb across all walks of life: Money today is more valuable than money tomorrow
, inflation being what it is. When you defer money, you’re taking less. The Dod
gers are operating in an environment in which the prime rate is 8.5%. And with m
oney today being so pricey, it lowers the present-day value of the deal by a sig
nificant margin.
延期付款也影響了合約的現值。各行各業都有一條法則：今天的錢比明天更有價值，通貨膨
脹就是這樣。選擇延期付款就是會拿得比較少。躲人現在經營的環境最優利率是8.5%，由於
現在的錢是如此有價值，延期付款會讓合約的現值大幅降低。
Regardless, in the end, Shohei Ohtani will be paid 700 million US dollars by the
Dodgers. It’s an obscene amount of money. It’s just going to be seen as less
by the league’s accounting — and will allow the Dodgers to add even more aroun
d Ohtani as they try to win a championship.
無論如何，道奇最終還是要付給大谷7億鎂，還是一筆非常驚人的數字。延期付款只是讓合
約在聯盟會計上算起來比較少，讓道奇更能夠在大谷身邊補強以贏得冠軍。
https://twitter.com/JeffPassan/status/1733617544471216149
大概是這樣