David Wright rumors: Contract talks hit a snag

The New York Mets’ contract extension discussions with third baseman David Wright have come to a halt over a dispute about deferred money, reports Mike Puma of the New York Post:

The dollars and sense might say David Wright is close to securing potentially the largest contract in Mets history, but not so fast says the All-Star third baseman’s camp…

According to an industry source with knowledge of the negotiations, deferred money is an issue. So the $119 million-129 million the Mets are willing to pay Wright for seven years (making the deal $135M-$145M counting the 2013 season) beginning in 2014 could translate into significantly less in present-day dollars, depending upon how much is deferred.

The Mets made an initial offer of six years and $100 million to Wright earlier this week, but quickly upped the ante when it became clear that the 29-year-old slugger commanded much more. As stated by Puma above, the latest rumored offer is believed to be between $135-$145 million over seven years.

New York’s franchise record for a free-agent contract is the six-year, $137.5 million deal signed by left-hander Johan Santana in 2008. According to Puma’s sources, Wright and his agents view Santana’s deal as a "benchmark" for their own pursuits.

The Mets have a long history of using deferred money in their contracts. The club recently agreed to buyout Jason Bay's contract by deferring his money over the next two years, but are most (in)famous for buying out the final year of outfielder Bobby Bonilla's contract with a 25-year, $29.8 million deferred payment plan.