Rafael Devers contract: How Red Sox freed up major money with stunning trade to Giants

An offensive superstar is on the move.

The Red Sox stunningly traded DH Rafael Devers to the Giants on Sunday night, per multiple reports — an out-of-the-blue deal that sees Boston part ways with one of its top players over the past nine seasons.

Devers, who used to primarily play third base before transitioning into a full-time designated hitter this season, was given one of the largest contracts in the league back in 2023, and according to ESPN’s Jeff Passan, the Giants will be taking on the entirety of the remaining salary on Devers’ contract.

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Here’s what to know about Devers’ current contract and where it ranks among the largest in MLB.

MORE: Full details from the Rafael Devers to Giants trade

Rafael Devers contract

In 2023, Devers agreed to a 10-year, $313.5 million extension with the Red Sox that takes him through the 2033 season. Two full seasons have been played under that deal, which was fully guaranteed, per Spotrac.

Following Sunday’s shocking deal from Boston to San Francisco, Passan reported that the Red Sox would not be sending any money to the Giants to cover the remaining $250 million-plus that remains on Devers’ contract.

That, of course, means that the Red Sox will be freeing up a whole lot of money with the trade. Based on updated numbers from Spotrac following the deal, Boston now has a payroll total of $189,211,016, which ranks 20th in MLB. 

The Red Sox do still have another player who ranks among the highest-paid in the league, Alex Bregman, who they signed in the offseason a few months ago.

As for the Giants, they now have the 13th-highest payroll in MLB at around $192 million, per Spotrac. Devers immediately becomes their highest-paid player over pitcher Robbie Ray.

According to The Boston Globe‘s Peter Abraham, the Red Sox felt that a massive contract like Devers’ “comes with responsibilities to do what is right for the team,” which he did not do, helping lead to the surprising trade.

PerRed Sox sources: the team’s feeling was that a $313.5M contract comes with responsibilities to do what is right for the team and that Devers did not live up to those responsibilities. They had enough and they traded him.

— Peter Abraham (@peteabeglobe.bsky.social) June 15, 2025 at 7:06 PM

Highest-paid MLB players 2025

Using average annual value, Devers is the 17th-highest-paid player in MLB this season, per Spotrac. His $31.35 million AAV ranks just behind Manny Machado and just in front of Mookie Betts.

Here’s a look at the top 20 highest-paid MLB players this season by AAV: