Reds Rookie Elly De La Cruz Will Pay 10% Of His Career Earnings To A Payday Loan Company
ByJoey Heldon June 14, 2023inArticles›Sports News
Cincinnati Reds prospect Elly De La Cruz is already one of the most exciting young players in the Major League — and he only just made his MLB debut on June 6. His journey was a long one; he moved away from home at six years old to train more and learn from better players. When he was ten, he moved to Santo Domingo to play in a competitive league. As other players got signed, De La Cruz continued toiling, not receiving much attention from clubs.
One day, he was asked to join a practice that a Reds scout was attending. The only problem: The scout was in town to see another shortstop. De La Cruz was asked to participate simply to boost the appearance of the other player. But De La Cruz impressed the scout enough that he received a contract worth $65,000.
Over the next few seasons, De La Cruz rose through the ranks of the minor leagues. He joined the Triple-A Louisville Bats to start this season, and when Reds outfielder Nick Senzel got injured, De La Cruz was called up to the majors.
If he keeps up his strong play, he’s likely due for a massive payday during his next contract. That’s the good news.
The slightly bad news is he’ll pay 10% of whatever he makes – both during that contract and for the duration of his career – to a company called Big League Advance (BLA).
Dylan Buell/Getty Images
Let’s say De La Cruz continues his hot start and scores a contract worth $250 million. He’ll owe 37% in federal income taxes, bringing his salary down to $157.5 million. Add in his position in Ohio’s highest state income tax bracket (3.99%), and that’s another $10 million off his earnings. Take 10% for his agent fees, and suddenly, De La Cruz is looking at $122.5 million. That’s where it would end for a player not involved with BLA, but De La Cruz will owe another 10% from that original $250 million.
By the end of it all, De La Cruz would walk away with about $97.5 million — or 39% of what the contract is “officially” worth.
Michael Schwimer, a former baseball player, founded BLA in 2016. The company pays a Minor League player a lump sum upfront, with the average investment being $350,000. If that player never reaches the Major Leagues, they don’t owe any money back. But if the player strikes it big, they owe a portion of their salary back to the company.
BLA made waves when Fernando Tatis Jr. signed an enormous contract with the San Diego Padres. The company received $27 million as a result of that contract. Critics believed BLA was taking advantage of players who didn’t know any better. After all, these are usually younger guys who haven’t earned much money playing baseball. If someone comes along with a six-figure offer, they might be inclined to take it.
But Schwimer is quick to point out the players don’t have to repay anything if they don’t reach the Majors — and in fact, BLA has actually lost quite a bit of money. Schwimer told Action Network that BLA has raised $244 million to invest in players but has recouped less than $50 million. He added that the team has donated to player charities, and if they fizzle out of baseball, the company’s investors work to help them find jobs.
According to Schwimer, most prospects come to the company. They’re currently working with 530 baseball players. Most of them won’t be home runs like Tatis Jr. or possibly De La Cruz.
But even for guys who ultimately make nine-figure salaries, it’s got to sting knowing some of that money will go away as soon as they get it.
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Who’s Going To Be Baseball’s Next Half-Billion Dollar Player?
ByJoey Heldon May 9, 2025inArticles›Sports News
When Juan Soto signed his record-breaking contract with the Mets this offseason— worth a whopping $765 million —it turned heads around the league. After all, we were only a year removed from Shohei Ohtani inking a $700 million deal with the Los Angeles Dodgers.
Naturally, curious people might wonder: Could a player top Soto’s contract? Is it possible we’ll see someone sign for $800 million?
That’s an unlikely scenario, but we very well could have another $500 million player in the coming years. Soto, Ohtani, and Vlad Guerrero Jr. , who signed a $500 million extension with the Blue Jay in April, are the only three players in MLB history to earn a contract worth at least half a billion dollars. Here are four other players who could join that exclusive list.
Kyle Tucker of the Chicago Cubs. (Thearon W. Henderson/Getty Images)
Kyle Tucker, Chicago Cubs, CF
After seven seasons in Houston, the Astros traded Kyle Tucker to the Chicago Cubs in a blockbuster move. The Cubs hope that Tucker, who won a World Series championship and has reached three straight All-Star rosters, can inject a winning culture into the locker room. So far, the trade has looked like a good move. Tucker is playing well, and the Cubs sit atop the National League Central. Tucker also happens to be in the final year of his contract, which means he’ll aim for a big payday this offseason. He’s one of the best power and speed guys in the league and is still under 30. The biggest deterrent to half a billion dollars is a possible lockout after the 2026 season. Owners might be hesitant to give out big deals knowing the league’s collective bargaining agreement could change how contracts are structured.
Gunnar Henderson, Baltimore Orioles, SS
Gunnar Henderson has put up gaudy numbers in his two full seasons in the major leagues. He won the American League Rookie of the Year in 2023 and finished fourth in MVP voting last season, earning his first All-Star nod in the process. He’ll turn 24 in June and become a free agent when he’s 27. Should Henderson continue his solid production, which includes strong play at a valued position and a WAR north of 15, he’ll be in high demand. The Orioles would love to sign him for the long term, though if this subpar season continues into the coming years, he might look to join another team.
Elly De La Cruz, Cincinnati Reds, SS
Elly De La Cruz is one of the more electrifying players in the Major Leagues. His speed is unquestionable—he’s only in his third season and has stolen well over 100 bases in his career, including a league-leading 67 last year. To reach half a billion dollars, though, he’ll need more consistency in other areas at the plate. He also led the league with 207 strikeouts; he strikes out about one in every three at-bats. De La Cruz’s WAR is okay (5.2 last season) and his power numbers aren’t bad, but he’ll need to demonstrate excellent play for quite some time before hitting free agency in 2029.
Tarik Skubal, Detroit Tigers, P
At some point, a pitcher will reach the $500 million milestone. The highest contract for a pitcher so far is the $325 million deal Yoshinobu Yamamoto signed with the Dodgers. Tarik Skubal may not hit $500 million, but based on how his career has gone so far, he could very well surpass what Yamamoto received. He’s coming off an AL Cy Young award where he led the majors in wins, WAR, and strikeouts. He’ll become a free agent in 2027 as a 30-year-old. If he contends for another Cy Young over the next two seasons, he could command a $40 million per year salary, which would at least put him in the conversation to make history as a pitcher.
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- Reds Rookie Elly De La Cruz Will Pay 10% Of His Career Earnings To A Payday Loan Company
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