Representatives from the Boston Red Socks have spoken out recently that the immediate windfall of profits expected from the Daisuke Matsuzaka (Dice-K for New Englanders) signing has not occurred and that it will take much longer for the contract to pay off financially. Matsuzaka clearly had a positive role in the Red Socks playoff success this season, but in terms of bringing in additional dollars to the club, he has been a disappointment.
The Red Socks initially paid the Seibu Lions $51,111,111 to simply negotiate with Matsuzaka’s agent Scott Boras. After the posting fee was paid, the team was able to come to a contract agreement that would pay the pitcher $52 million over six years plus incentives. However, to this date, the Red Socks have only realized roughly $900,000 in endorsements from the deal.
“There was absolutely not this windfall of corporate advertising dollars we thought there may be, or that his representative might have led you to believe during the negotiations,” said Sam Kennedy, senior vice president of sales and marketing for the Red Socks. To compare, Hideki Matsui and Ichiro Suzuki bring in between $3-$6 million annually to their respective clubs.
“The only true deal I could look myself in the mirror and say, ‘This came because of Matsuzaka and the attention from Japan,’ was the Funai deal,” Kennedy said, speaking of an endorsement deal the team has with Funai Electronics, which pays the Red Socks $900,000 annually.
Hideki Okajima, also from Japan, has had a similar lack of success in brining in revenue dollars. However, I’m sure the team would admit they would rather have their World Series rings than an additional $6 million in revenues.