Brewers will pay Braun through 2031

Brewers will pay Braun through 2031

MILWAUKEE -- Because of deferrals built into his new contract, Ryan Braun could be drawing paychecks from the Brewers until he's 47 years old.

According to the Associated Press, the five-year, $105 million extension Braun signed Thursday includes at least $18 million in interest-free deferrals to be paid in equal installments each July 1 from 2022-2031. The deferrals were key to the deal from both sides.

Braun's extension covers 2016-20 and includes salaries of $19 million from 2016-18, of which $4 million is deferred with no interest each season; $18 million in 2019, of which $3 million is deferred; and $16 million in 2020, of which $3 million is deferred.

The deal also includes a mutual option for 2021 that calls for a $15 million base salary that can escalate up to $20 million based on 2020 awards such as league MVP, Silver Slugger and Gold Glove. Any of those escalators would be deferred with no interest.

If the Brewers decline their half of the option, Braun would get a $4 million buyout. Also, Braun's $10 million signing bonus is payable in $2.5 million installments on each April 1 from 2012 through 2015.