In December 2004, Pedro Martínez signed with the New York Mets on a four-year, fully guaranteed deal worth $53 million — an average of $13.3 million per season. It was the closing chapter of an elite career and the opening move of a Mets rebuild. One month later, the club followed up by signing Carlos Beltrán to a seven-year, $119 million contract, making clear that Queens was serious about competing.
His Last Big Contract
- Team: New York Mets
- Signed: December 16, 2004
- Length: 4 years (2005–2008)
- Total guaranteed: $53 million
- Average per season: $13.3 million
How the Deal Was Structured
The contract covered the 2005 through 2008 seasons and was 100% guaranteed — no injury clauses, no performance triggers. In MLB, fully guaranteed money is the standard, meaning the team owes every dollar regardless of what happens on the field. For a 33-year-old pitcher, that structure spoke to real confidence in his ability to stay productive. There were no opt-out clauses or publicly known deferrals; it was a straightforward commitment from both sides.
Where He Ranks Among the Highest-Paid
Pedro Martínez doesn’t appear on the all-time lists of MLB’s largest contracts. His $53 million deal was significant for 2004, but it was eventually dwarfed by the mega-deals that followed in subsequent years. What defines his legacy isn’t the dollar figure — it’s the impact. He was the bridge between Boston’s dynasty era and the Mets’ competitive rebuild, and his arrival set the table for the franchise’s transformation.
Every Contract He Signed
- Los Angeles Dodgers (1988): International signing — amount not public
- Montreal Expos (1994–1997): Arbitration — amount not public
- Boston Red Sox (1998–2003): Extension — $75 million
- New York Mets (2005–2008): Free agent — $53 million
- Philadelphia Phillies (2009): Free agent — amount not public
Martínez broke into professional ball with the Dodgers as an international signee in 1988. After stints with Montreal and a brief stop in Philadelphia, he landed in Boston — where his career peaked. His six years with the Red Sox produced three Cy Young Awards and absolute dominance over the American League. When Boston only offered him a two-year extension, he chose the Mets instead. His final season came in 2009 with Philadelphia, and he retired that same year after 23 seasons in the big leagues.
Career Earnings
Adding up every MLB contract he signed, Pedro Martínez earned an estimated $128 million in guaranteed salary throughout his career. That figure reflects base salaries, signing bonuses, and earned incentives from his MLB deals — it does not include endorsements or income from leagues outside the United States.
