Ichiro deal favorable for M's

It's tough to imagine signing a $90 million contract as taking one for the team, but contract details that emerged Wednesday indicate that, in a way, that's what Mariners outfielder Ichiro Suzuki did when he signed a five-year extension last week.

According to information obtained by The Associated Press, $5 million of Ichiro's salary each year will be deferred at 5.5 percent interest, with the money paid back to him starting when he retires and extending until at least 2032.

One agent who did not work on the deal called it a great arrangement for the Mariners.

"It's a very club-friendly way to do it," said the agent, who did not wish to be identified because he was talking about a player represented by another agent. "On Ichiro's part, that's a very generous thing to do, quite honestly."

Ichiro, 33, got a $5 million signing bonus and will be paid $12 million per season between 2008 and 2012, with $5 million per season deferred. The deferred money will be paid to him in annual installments each Jan. 30, beginning the year after his retirement.

Ichiro declined Wednesday to confirm or discuss the details.

"I would not like to talk about the contract anymore," he said. "I talked about it on the day of the announcement."

While the Mariners are theoretically setting aside $5 million each of the next five years, they don't have to actually put it into escrow or produce it. All they have to do is come up with the money, plus 5.5 percent compounded annually, when it's due. In the meantime, they can invest the money in hopes of earning more than 5.5 percent or -- and this is probably what Ichiro had in mind -- invest it in payroll.

"It allows them to spread that money out and invest the money in other players in upcoming budgets," the agent said. "I think the front office is being very innovative. They're showing they have a lot of confidence in the market."

One downside is the future obligations attach debt to the franchise, a consideration if the owners try to sell the team.

Deferring money, usually at little or no interest, is fairly common in athletes' contracts, most often because there is a tax benefit to the player. The agent said Ichiro is in a high enough tax bracket that there is no such benefit.

"Not to say there's not an upside to getting 5.5 percent guaranteed interest," he said, "but this is mostly a good thing for the team."

According to the AP, the deferred money makes Ichiro's contract officially count as just $16.1 million per season on the payroll, according to baseball's collective bargaining agreement. The Mariners are not near the luxury tax threshold.

Ichiro's new contract also contains perks common for superstar players, most of them carried over from his current contract. He'll get a housing allowance of $32,000 per season, increasing by $1,000 each year; will be provided a new Jeep or Mercedes-Benz SUV, and will get four round-trip tickets between Japan and the U.S. each year for his family.

Ichiro also will continue to be provided a personal trainer and interpreter.