Net Worth Ranker
What Was Tim Wakefield’s Net Worth?
At the time of his passing on October 1, 2023, Tim Wakefield, the celebrated American professional baseball pitcher, had accumulated a net worth of $20 million. This substantial wealth was primarily a result of his successful 19-season career in Major League Baseball (MLB), where he was renowned for his signature knuckleball and his contributions to the Boston Red Sox. Beyond his on-field earnings, Wakefield’s net worth likely encompassed endorsements, investments, and other ventures accumulated over his career.
Tim Wakefield’s Career Earnings and Contract Details
Tim Wakefield’s career earnings from his MLB contracts totaled just over $55 million. While specific details of each individual contract are not fully public, a breakdown of his earnings by team and period reveals the financial trajectory of his career. From 1992 to 1994, Wakefield played for the Pittsburgh Pirates. His peak earning years were undoubtedly during his tenure with the Boston Red Sox, where he played from 1995 to 2011. His longevity with the Red Sox, coupled with his role as a consistent starter and reliever, allowed him to secure increasingly lucrative contracts over time. For example, in 2009, Wakefield pitched a complete game, becoming the oldest Red Sox pitcher to achieve that feat at 42 years old, which certainly helped his negotiation power. This consistency and reliability translated into significant earning potential, especially as he transitioned into a veteran role. These earnings do not include potential income from endorsements, memorabilia, or post-retirement activities.
Early Life and Education
Born on August 2, 1966, in Melbourne, Florida, Tim Wakefield’s journey to professional baseball began in his formative years. As a teenager, he honed his skills at Eau Gallie High School, laying the foundation for his future career. For his higher education, Wakefield attended the Florida Institute of Technology, playing college baseball for the Panthers. While playing baseball for the Panthers, Wakefield set a single-season record of 22 home runs. This demonstrated his all-around athletic abilities and potential as a baseball player. Details about his family background and early living arrangements are not widely publicized, but his Florida roots undoubtedly played a role in shaping his passion for baseball and his eventual career path.
Professional Baseball Career: Pittsburgh Pirates (1992-1994)
Tim Wakefield’s MLB career commenced with the Pittsburgh Pirates, who selected him in the eighth round of the 1988 MLB draft. He then proceeded to the Single-A Salem Buccaneers in 1989, where he had immediate success. Wakefield progressed through their minor league system, starting with the Single-A Salem Buccaneers in 1989. In 1990, he led the Carolina League in starts and innings pitched, showcasing his durability and potential. By 1991, he was promoted to Double-A, where he continued to excel, leading all Pirates minor league players in wins, innings pitched, and complete games. By the end of July 1992, Wakefield had recorded six complete games. This stellar performance earned him a call-up to the major leagues. Wakefield made an immediate impact in his MLB debut, throwing a complete game against the St. Louis Cardinals. The Pirates then advanced to the National League Championship Series (NLCS) that year, where they faced the Atlanta Braves. Wakefield’s contributions led to him winning the National League Rookie Pitcher of the Year Award. Despite a promising start, Wakefield’s performance declined in subsequent seasons. In 1993, he served as the Pirates’ Opening Day starter. In that game, he walked nine batters. He eventually lost his spot in the starting rotation and was demoted to Double-A in July. He was recalled in September but continued to struggle, finishing the season with a 6-11 record and a 5.61 ERA. In 1994, Wakefield spent most of the season back with the Triple-A Bisons. He ended up leading the league in losses, walks, and home runs allowed. He was recalled by the Pirates in September, but he saw no playing time due to the MLB strike. In the spring of 1995, the Pirates released him.
Boston Red Sox Career: 1995-2002
Six days after being released by the Pirates, Tim Wakefield signed with the Boston Red Sox, marking a pivotal moment in his career. He initially joined the Triple-A Pawtucket Red Sox before being called up to the major league team. Wakefield had an excellent first season in Boston, finishing the year 16-8 with a 2.95 ERA and helping the Red Sox win the American League East division title. However, his performance dipped over the next three seasons, with ERAs of 5.14, 4.25, and 4.58. In 1997, Wakefield led MLB by hitting 16 batters with a pitch. In the summer of 1999, he joined a select group of pitchers to have struck out four batters in an inning. From 2000 to 2002, Wakefield was regularly moved from relief pitcher to starter and back again. During this period, Wakefield’s role fluctuated, and he experienced a mix of successes and challenges as he adapted to different pitching roles within the team. His ability to transition between starting and relief positions showcased his versatility, but also presented inconsistencies in his performance statistics. Wakefield spent several years fluctuating between the roles of starting pitcher and relief pitcher. Though specific details regarding his contract terms during this period are not publicly available, his performance and adaptability likely influenced his compensation and contract negotiations.
Boston Red Sox Career: 2003-2011
In 2003, Tim Wakefield solidified his place in the Red Sox’s starting rotation, marking a turning point in his career. That season, the team reached the ALCS to face the New York Yankees. With the Red Sox leading in extra innings in Game 7, Wakefield gave up a home run to Aaron Boone on his first pitch of the 11th, sending the Yankees to the World Series. He found redemption in 2004 when the Red Sox once again faced the Yankees in the ALCS. This time, Boston won, moving on to the World Series against the St. Louis Cardinals. In the tournament, the Red Sox swept the Cardinals to claim their first World Series title in 86 years. In 2005, he led the Red Sox pitching staff with 16 wins and a 4.15 ERA, demonstrating his value as a consistent and reliable pitcher. In 2007, he won his second World Series championship, although he didn’t play in the tournament due to an injured shoulder. Wakefield played his 15th season with the Red Sox in 2009. In 2009, he pitched a complete game, becoming the oldest Red Sox pitcher to achieve that feat, at the age of 42. Wakefield pitched another complete game in his very next start. In early July, he reached another milestone when he surpassed Roger Clemens for the most starts in Red Sox franchise history. By 2010, Wakefield had surpassed Clemens for the most innings pitched by a Red Sox pitcher. After the season, he won the Roberto Clemente Award, adding to his accolades and recognition within the league. In 2011, Wakefield became the oldest player ever to appear for the Red Sox, at 44. He also recorded his 200th career win. After turning down a minor league contract, Wakefield announced his retirement in early 2012.
Post-MLB Career Ventures
After retiring from MLB in early 2012, Tim Wakefield transitioned into a role as a studio analyst for the regional sports network NESN, covering Red Sox games. He served in this capacity through the 2023 season. He also appeared in the media as a spokesperson for Farmington Bank, highlighting his appeal to the local community and potential endorsement earnings. While specific details regarding his compensation from NESN and Farmington Bank are not publicly available, these ventures contributed to his post-retirement income and sustained his presence in the public eye. These engagements suggest Wakefield maintained a steady stream of income and continued to leverage his public image for financial gain. The exact figures earned from these ventures are not disclosed but likely factored into his overall financial portfolio and net worth. Further details on any investments Wakefield made during this time are not publicly accessible.
Personal Life, Real Estate, and Other Assets
Tim Wakefield married Stacy Stover in late 2002, and together they had two children, Trevor and Brianna. In December 2006, Tim Wakefield purchased a waterfront home in Indian Harbour Beach, Florida, for $2.58 million. This property, located at an unspecified address in Indian Harbour Beach, was listed for sale by his estate in November 2024 for $3.3 million, indicating a potential appreciation in value. The details of any additional real estate holdings, investments, or other assets he possessed are not publicly accessible, limiting a complete assessment of his overall financial portfolio. Information regarding any personal investments, is not available in the provided text. Details about Wakefield’s personal habits, routines, and public appearances are limited, making it difficult to provide specific insights into his lifestyle and spending habits. The presence of the Florida house as a significant asset suggests a focus on real estate within his investment strategy, but further details are needed to provide a comprehensive overview of his financial holdings.
