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DC--can't they set up the yearly payment so they pay more now and are on the hook for less in his later years...or is that dumb because the $$ may be worth less 8 years from now?

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Second part is correct. For many reasons, teams want to make the contracts heavier at the far end. In fact, A-Rod's previous contract included quite a bit of deferred compenstion in those big numbers -- money Texas will pay him several years from now (I think he is getting paid interest on it, but it is below market - 1 to 3%).

Other than that, there is always the time-value of money. $30 million in 2015 is certainly worth quite a bit less than that now.