In addition to chasing the championship ring, a player who gets a big contract through good performance endorsement is also one of the major goals of life. Fernando Tatis Jr. recently got a record-breaking long-term contract of $340 million for 14 years, but he could not get the full amount. .
In fact, this is normal. After the general players get the contract money, they naturally have to pay taxes, plus brokerage companies or brokerage commissions, but many fans do not know that a player investment company called BLA (Big League Advance) also Will make a fortune from it.
So what is the origin of this company? What does it have to do with Fernando Tatis Jr.’s contract? Let us find out through this article.
Use the situation of “small leagues with low salaries” to develop your career
Fernando Tatis Jr. signed a 14-year, $340 million contract with the priest not long ago, setting the record for the longest contract in the history of the major leagues. However, according to foreign media reports, part of the contract salary will be taken by a company. Go, this can be traced back to the decision made by the 19-year-old Tatis between 2017 and 2018.
At that time, Tatis Jr. was still working on 2A. It is well known that the salaries of minor league players were so low that they were not even enough to maintain a normal life. Many minor league players had to work part-time during the offseason to maintain their quality of life. So he decided to sign a contract with BLA, accept their investment to get a sum of money, and agreed to give them a certain percentage of money in return after going to the major leagues.
The CEO of BLA is Michael Schwimer, a former major league pitcher. The company’s operating method is quite “interesting.” They will look for potential newcomers who have not yet been in major leagues, and set conditions for them: the company can give these rookies interest-free. A sum of money, on the condition that for every $50,000 a rookie gets, the company will draw 1% of the salary of a rookie in the major leagues in the future; a player can apply for up to $500,000, but this means that the future salary will be drawn 10%.
On the contrary, if the rookie doesn’t make it to the major leagues, then the BLA won’t get a dime. With such an extreme method of operation, you can imagine that BLA is very confident in its own vision and believes that the company can definitely find the jade among the many players.
Although neither Tatis nor BLA revealed the exact percentage he signed with the company, even if it was only 1%, Tatis Jr. would have to give BLA a huge sum of up to 3.4 million U.S. dollars, not to mention if he had taken the highest amount of 500,000. U.S. dollars, now you have to give 34 million to the company, which in the eyes of some people is like loan sharking.
In fact, the Major League Players Union issued a notice in 2016, clearly expressing its disapproval of BLA’s operating methods, but it is clear that supply and demand have created the market, and BLA is still operating smoothly today. (The reason for the demand is that the professional baseball treatment of minor league players is too bad, allowing the industry to find profitable space. Simply put, it is a loophole in the operation and regulations of the professional baseball system that makes it like Companies like BLA can emerge and operate.)
Schwimer said that he provides timely help to minor league players who are in financial difficulties so that they can thrive and have a better chance of becoming a major league star. This is a win-win situation for players and the company. Tatis Jr. himself also said that the money was used to hire personal fitness trainers, eat more nutritious food, and even built a new practice venue in his hometown (Dominican Republic).
Tatis Jr.’s father is a former major league player Fernando Tatis, who is the only player in history who has hit two slam shots in a single game. By the way, his two slam home runs were shot from Park Chan Ho.
Vision is more important than anything!
The topic goes back to Tatis Jr. In 2015, at the age of 16, he was favored by the White Sox and signed with the White Sox as an international free agent. However, he did not put on the white sox shirt to play, because in 2016 the Padres used James Shields to trade him and pitcher Erik Johnson. The following year he mostly played in the rookie league with 1A, hitting 0.273, and knocking out 4 hits and 25. Score points, but 15 defensive errors also occurred.
Schwimer said: “During this time in the company, one of the things I was most afraid of was asking Fernando. When we talked about the appointment in 2017, he was only a 1A player, and he was not even provided by any media. In the top 40 of the big rookie rankings.”
In addition, in 2018, when Tatis Jr. slipped on the base, he accidentally injured his left thumb and declared the season reimbursement after undergoing surgery. At that time, Schwimer probably thought that the investment was going to fail and the money would sink into the ocean. .