These rules are inscrutable, but Smyly doesn't impact 2025 at all. That money is accounted for already in '23 and '24. The CBA uses average annual values with buyouts and such included specifically to head off as many schemes and shenanigans as possible.
Separately, a quick and dirty rule of thumb is that guys get a 50% raise each round of arb. If we use that rough number plus make these two assumptions:
- Wisdom, Alzolay, Bethancourt, Madrigal, and Almonte all get traded or non-tendered
- Jed holds $5M back for breathing room (trade deadline acquisitions, performance bonuses, IL time, etc.)
I'm showing the team $79M under the tax. There might be a little deviation from those two assumptions above, which would likely lower the $ available. At the same time Jed showed this year he's not necessarily going to sweat being a couple million over, which would raise it. But overall without getting too deep into the accounting weeds $80M is a nice round number to us to collectively keep in our heads even if it might be off by a couple percent in either direction.