The 2018 MLB season is almost a quarter of the way over. While there is still a lot of baseball to be played, headlines have been made thus far. One of these headlines deals with the trade of pitcher Matt Harvey. Harvey had spent his entire professional baseball career with the New York Mets until earlier this month. On May 8, 2018, the New York Mets traded their pitcher to the Cincinnati Reds. Matt Harvey’s net worth sits at approximately $7 million.
Matt Harvey is a former seventh overall pick in the 2010 MLB draft out of North Carolina. His signing bonus right out of college exceeded $2.5 million. This initial signing bonus started the ascension of Matt Harvey’s net worth throughout his MLB career. He spent some time with the Mets minor league organizations before being called up during the 2012 season. He started ten games that year and impressed his coaches and fellow players with a 2.73 ERA (earned run average).
Matt continued to improve upon his rookie campaign and over the next two seasons played was a full time starter in the Mets rotation. In 2015, he set career bests in innings pitched (189.1) and wins in a season (13). He also won the NL Comeback Player of the Year award during the 2015 campaign. This was due to the fact he missed the entire 2014 season because of Tommy John Surgery.
Although he is only beginning his fifth full season of pitching in the MLB, Matt Harvey has yet to sign a massive contract that many pitchers enjoy. He will be making a little more than $5.5 million this season which helps boost Matt Harvey’s net worth. If he is able to turn in a respectable season, then the Reds or any other team, will have the opportunity to sign him to a new contract this offseason.
At the conclusion of this season, Harvey’s career MLB earning will be just shy of the $20 million mark. While this might seem like a large chunk of change to many Americans, it fails in comparison to what some MLB pitchers are earning. For example, Clayton Kershaw will earn over $35 million in salary this year alone.
No matter what happens at the conclusion of these season, one can expect for Matt Harvey to be pitching as a starter in the MLB next year. A long term contract is most likely in his very near future, and it is this contract that should be able to push Matt Harvey’s net worth into the eight figure range. It will be interesting to see how the Cincinnati Reds plan on using Harvey this season. They already have a full pitching staff along with a starting rotation. Regardless of where he’ll fit in, Harvey should enjoy the lower state income tax rates he’ll be paying in Ohio versus New York.
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James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.