Red Sox deferring $75 million to Rafael Devers, paying through 2043

Rafael Devers has $75 million in deferred salaries in his new contract with the Boston Red Sox, who committed $331 million over 11 seasons to the third baseman but will not fully pay the money until 2043.

Boston on Wednesday finalized a 10-year contract worth $313.5 million that covers 2024-33 and follows a $17.5 million, one-year agreement reached on Jan. 3.

Devers’ long-term deal includes a $20 million signing bonus, of which $5 million is payable each February from 2023-26.

He gets salaries of $27.5 million a year from 2024-26, $31 million annually from 2027-30 and $29 million per season from 2031-33.

In each season of the long-term deal, $7.5 million will be deferred. The money will be payable 10 years after the season in which is is earned, half on Feb. 1 and half on Nov. 30.

Devers would receive a $2 million assignment bonus if traded, payable by the receiving team.

Devers was the AL’s starting All-Star third baseman each of the past two years. In 141 games last season, he batted .295 with 42 doubles, 27 home runs and 88 RBIs.

Boston hopes to bounce back after finishing last in the AL East at 78-84. The Red Sox won 92 games in 2021 and reached the AL Championship Series.

Last week, the Red Sox agreed to a $21.7 million, two-year contract with third baseman Justin Turner. His deal includes a $8.3 million salary this year and a $13.4 million player option for 2024 with a $6.7 million buyout. Turner can earn an additional $1 million in performance bonuses this year based on plate appearances: $200,000 for 480 plate appearances and each additional 20 through 560.