- Doug Padilla, ESPN Staff Writer
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The White Sox traded Peavy to the Boston Red Sox on Tuesday night in a three-team that also included the Detroit Tigers. Part of the deal stipulated that the Red Sox pick up all of the remaining money owed to Peavy, who is still must be paid a third of the $14.5 million he is making this year and all of the $14.5 million he is owed next year.
There remains another $4 million, though, that the White Sox will still be paying to their former pitcher. When Peavy's contract was renegotiated by the White Sox shortly after the 2012 season, the White Sox bought out the $4 million option from his old contract.
They then agreed to defer it in four $1 million installments that run from 2016 to 2019. The Red Sox are not picking up that money.
"That was earned at the time of the contract and that's the obligation of the Chicago White Sox," Hahn said. "That's like a signing bonus. He's already earned that money, but in terms of his annual salaries, no cash went with that to Boston."