NEW YORK -- The Toronto Blue Jays and Carlos Delgado shook baseball's salary structure Friday, agreeing to a record $68 million, four-year contract that makes him the sport's highest-paid player.

The deal, which averages $17 million per season, replaces Delgado's three-year deal that began with this past season and was worth $36 million.

So what's A-Rod worth?

If Carlos Delgado makes $17 million, what can the market for Alex Rodriguez expect to yield this offseason? All we know for sure right now is that Rodriguez will get more than $17 million annually. But $17 million is just really an average gross for Delgado. What players and agents care even more about is after-tax income. What does $17 million mean in Toronto, in relation to the cost of living and after taxes? What will that value translate to for Rodriguez if he moves to a city like New York? In an ideal economic situation, the Blue Jays' payment to Delgado is calculated. "Presumably, the Blue Jays believe that over the next four years they will obtain at least $68 million more in revenue with Delgado than they would with the exact same team and some Triple-A player in the position," said Stephen Ross, professor of law at the University of Illinois. But Delgado's worth will obviously be enhanced with a winning team. Roger Noll, professor of economics at Stanford University and co-author of Sports, Jobs and Taxes, said that the Blue Jays could be expected to spend up to $50 million next year. But with new owner Rogers Communications coming in, there is hope among Toronto fans that the payroll will rise above that projection. If that happens, a highly overpaid Raul Mondesi might be kept on instead of jettisoned to make room for less-experienced players. -- Darren Rovell

"I've said it before and I'll say it again," Delgado said at a news conference in Toronto. "It's good to be back. I firmly believe we have the talent here to win and I'm here to win. We worked out a great deal. I'm extremely happy. I'd like to play my whole career in Toronto."

Delgado will receive a $4.8 million signing bonus and salaries of $10 million in 2001, $17.2 million in 2002, $17.5 million in 2003 and $18.5 million in 2004. None of the money is deferred, and Delgado gets a complete no-trade clause.

"He embodies what the Blue Jays believe in," Toronto general manager Gord Ash said. "He's an individual that plays the game with a lot of enthusiasm."

Said Delgado: "Last year at this time we didn't have a good idea where we were going (as a team). They showed the commitment to build this ballclub and make this a winning ballclub."

The average salary of $17 million breaks the previous mark of $15.45 million set by Roger Clemens and the New York Yankees earlier this year when they agreed to what amounts to a two-year extension worth $30.9 million.

Delgado's deal falls short of the record for total dollars, set in December 1998 when Kevin Brown and the Los Angeles Dodgers agreed to a $105 million, seven-year contract.

Delgado's mark is not likely to last long. Seattle shortstop Alex Rodriguez is eligible for free agency following the World Series and is expected to get a record deal that could be worth $20 million or more.

Delgado said his decision to remain in Toronto wasn't based on money. He has long been a fan favorite and Delgado had said he liked playing for the Blue Jays and his top priority was remaining with the team.

Locking up Delgado was crucial to Toronto's bid to contend in the AL East next season. Delgado is the Blue Jays' clubhouse leader and their biggest offensive threat.

"On the field we have to ensure we have our team leader in place and that man is Carlos," Blue Jays president Paul Godfrey said. "Carlos is the pivotal player in the basis for our foundation.

"This is the first step in re-establishing the winning formula for the Blue Jays of the future."

	Carlos Delgado and Blue Jays GM Gord Ash say they want to stick together for a long time.

Delgado, 28, hit .344 this season with 41 homers, 137 RBI and 123 walks, finishing fourth in the American League in batting, tied for fourth in home runs and tied for fourth in RBI.

He also led the AL with 57 doubles and 99 extra-base hits and is expected to garner some support for the AL MVP award.

Over the past three seasons, Delgado has averaged 41 homers and 129 RBI.

In 1999, he batted .272 with 44 homers and 134 RBI, and the Blue Jays rewarded him with a $36 million, three-year contract that called for a $3 million signing bonus and salaries of $5.6 million in 2000, $12.65 million in 2001 and $14.75 million in 2002.

But the deal also contained a unique provision, giving Delgado the right to demand a trade in the 10 days following the World Series. If he had exercised that right and the Blue Jays had failed to deal him, he would have had the right to become a free agent next Feb. 15.

Paul Godfrey, the Blue Jays' new chairman, began negotiating the deal with Delgado's agent, David Sloane, in August.

"He's going to restore the Blue Jays to what they were," Sloane said. The Blue Jays last made the playoffs in 1993, when they won the World Series.

"There will be a considerable increase in the players' payroll going forward to ensure we put a winning ball club on the field," Godfrey said. "We will not try to outspend the Yankees or the Mets."

The timing of the announcement was discussed with the commissioner's office, according to one baseball official who spoke on condition of anonymity, and irked some because it would take attention away from Game 1 of the World Series on Saturday night between the Mets and the Yankees.