NEW YORK (AP) — Right-hander Corbin Burnes' $210 million, six-year contract with the Arizona Diamondbacks includes $64 million in deferred payments due from 2031-36, according to details obtained by The Associated Press.
Burnes gets a $10 million signing bonus payable within 30 days of the deal's approval by the commissioner's office and salaries of $30 million each in 2025 and 2026 and of $35 million in each of the following four seasons.
His deal, announced Monday and the largest in Diamondbacks history, includes $10 million in deferred money in each of the first two years and $11 million in each of the next four.
Burnes, the 2021 NL Cy Young Award winner and a four-time All-Star, has the right to opt out after the 2026 season.
If he does not opt out, the deferred money is payable $10 million each on Nov. 1 in 2031 and '32, and $11 million each Nov. 1 from 2033-36.
If Burnes does opt out, the deferred money is payable in $10 million installments on Nov. 1 in 2027 and 2028.
He has a full no-trade provision through March 31, 2027. If he does not opt out, he can specify by each March 15 starting in 2027 a list of 14 teams he can't be traded to without his consent.
Burnes would get $250,000 for winning a Cy Young Award, $150,000 for finishing second in the voting, $100,000 for third, $75,000 for fourth and $50,000 for fifth.
He would earn $50,000 each for All-Star election or selection, winning a Gold Glove, World Series MVP, League Championship Series MVP or finishing first or second on the All-MLB team.
Arizona agreed to give Burnes four premium season tickets in a best-available location at no cost for all regular-season, postseason and spring training games. Burnes is allowed to purchase up two additional tickets adjacent to the team-provided seats.
Burnes gets a hotel suite on road trips and agreed to donate 1% of his salary and signing bonus to the team charitable foundation.
He joins a starting rotation projected to include Zac Gallen, Merrill Kelly, Brandon Pfaadt and Eduardo Rodríguez.
Burnes, who turned 30 in October, was 15-9 with a 2.92 ERA last year for Baltimore, which acquired him from Milwaukee in a February trade. He is 60-36 with a 3.19 ERA in seven seasons for the Brewers and Orioles.
AP MLB: https://apnews.com/hub/mlb
FILE - Baltimore Orioles' Corbin Burnes pitches during the first inning of a baseball game against New York Yankees, Thursday, Sept. 26, 2024, in New York. (AP Photo/Noah K. Murray, File)
LONDON--(BUSINESS WIRE)--Apr 3, 2025--
According to the latest report from Omdia’s Large Area Display Production Strategy Tracker, display panel makers maintained a fab utilization above 80% in 1Q25 but are expected to reduce utilization in 2Q25. As the pull-in demand for 1Q25 winds down at the start of 2Q25, set makers are adopting a more conservative approach to panel purchases.
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Uncertainty surrounding the new U.S. tariffs on display application products including TVs, PCs and smartphones, combined with reduced panel orders from brands and OEMs, is prompting panel makers to scale back capacity utilization. Omdia predicts utilization will drop below 80% in April 2025 and further to 76% in May 2025.
Since 4Q24, panel makers have operated fabs at high utilization levels of 81%-83% driven in part by China’s “swap old for new” subsidy program which has boosted demand for LCD TV panels. Chinese TV manufacturers have accelerated production and shipments to the U.S. to mitigate tariff risks, pushing demand higher in early 2025, particularly for 75 inches and larger LCD TV panels.
However, concerns over new potential U.S. tariffs starting in April and uncertainties in display panel demand have led to PC and TV set makers reduce their panel inventory purchases. Some have already reduced their panel orders for 2Q25. In Omdia’s February 2025 outlook, April utilization was expected to be 82% and May at 78%. However, with some China TFT LCD makers planning extended breaks for the May Labor Day holiday utilization could fall further to around 75% in May.
“With demand slowing and uncertainty around tariff impact, panel makers are shifting from their original high capacity utilization mode back to the production-to-order mode,” said David Hsieh, Senior Director for Display research in Omdia. “This strategy should help stabilize panel prices amid weakening demand. . However, since panel prices have remained elevated over the past six months, TV and PC brands and OEMs may push for further price reductions to offset U.S. tariffs.
Hsieh added, “The display market is entering into a new cycle and will likely stabilize later in 2025. Tariffs and their impact on display demand will be the biggest swing factor in this transition.”
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