Originally Posted by BuckeyeRedleg
Griffey really isn't owed that much. The deferred payments were factored into past payrolls. I think he's due $7M+ for the rest of this year, $12.5M for 2008, and a 4M buyout in 2009 (with an option for 2009).
You're correct in that the Reds have been investing all along to cover Jr's deferred payments, so they are a non-factor as far as any potential trades.
But anyone who exercised his 2009 option would owe him $16.5 million for that year, and failure to exercise the option would cost his team the $4 million buyout plus his $12.5 million salary for 2008, for a grand total of $16.5 million next season.
The long and short of it: Acquiring Jr. would still be an expensive proposition for most teams.