Ken Griffey Jr. Will Be Reds' 4th-Highest Paid Player in 2023 Due to Deferred Salary

There was a time when paying Ken Griffey Jr. millions of dollars could be a badge of honor for the Cincinnati Reds. When he's one of your highest-paid players in 2023, there's a problem.

Griffey still counts for $3.6 million on Cincinnati's books, per Spotrac. Among current Reds players, only Joey Votto and Wil Myers will make more. Mike Moustakas also had $22 million outstanding on his contract when he was released in January.

The Reds acquired Griffey in a blockbuster trade with the Seattle Mariners. Along with the move, Cincinnati inked the 1997 American League MVP to a nine-year extension totaling at least $116.5 million ($112.5 million in salaries plus a $4 million buyout).

According to Sports Illustrated's Tom Verducci, Griffey agreed to defer $57.5 million at 4 percent interest. He'd begin earning that money in 2010 and continue receiving annual payouts until 2025.

For years, Bobby Bonilla has been the gold standard for a retired MLB star cashing a paycheck thanks to some shrewd contract negotiations. Griffey is giving the six-time All-Star a run for his money.