<Table> <Tr> <Td> </Td> <Td> This article needs to be updated . Please update this article to reflect recent events or newly available information . (January 2017) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article needs to be updated . Please update this article to reflect recent events or newly available information . (January 2017) </Td> </Tr> <P> The highest paid player in Major League Baseball (MLB) from the 2013 season is New York Yankees' third baseman Alex Rodriguez with an annual salary of $29,000,000, $4 million higher than the second - highest paid player, Cliff Lee . MLB does not have a hard salary cap, instead employing a luxury tax which applies to teams whose total payroll exceeds certain set thresholds for a given season . Free agency did not exist in MLB prior to the end of the reserve clause in the 1970s, allowing owners before that time to wholly dictate the terms of player negotiations and resulting in significantly lower salaries . Babe Ruth, widely regarded as one of the greatest baseball players ever, earned an estimated $910,696 ($14,341,967 inflation - adjusted from 1931 dollars) over his entire playing career . When asked whether he thought he deserved to earn $80,000 a year ($1,146,932 inflation - adjusted), while the president, Herbert Hoover, had a $75,000 salary, Ruth famously remarked, "What the hell has Hoover got to do with it? Besides, I had a better year than he did ." </P> <P> Rodriguez has signed two record - breaking contracts over the course of his career . First, he signed a $252 million, 10 - year contract with the Texas Rangers in December 2000 ($350,462,609 inflation - adjusted from 2000 dollars). Sandy Alderson called the deal "stupefying", while Sports Illustrated noted that Rodriguez's early salaries under the contract ($21 million) would be greater than the annual payroll of the entire Minnesota Twins team that year ($15.8 million). The deal was the largest sports contract in history, doubling the total value of Kevin Garnett's $126 million National Basketball Association contract (the previous record holder) and more than doubling Mike Hampton's $121 million contract, the previous MLB record which had been signed just days before . The Rangers later traded Rodriguez to the Yankees in exchange for Alfonso Soriano before the 2004 season, though they agreed to pay $67 million of the $179 million outstanding on the contract . Despite this, he opted out of the remainder of his deal after the 2007 season and renegotiated a new $275 million, 10 - year agreement with the Yankees, breaking his own record for the largest sports contract . Under this deal, Rodriguez also receives $6 million each if and when he ties the career home run totals of Willie Mays (660), Babe Ruth (714), Hank Aaron (755), and Barry Bonds (762), along with another $6 million for breaking Bonds' mark . </P>

Who is currently the highest paid mlb player