(USA TODAY Sports)

Fresh off two straight AL MVP awards, Tigers slugger Miguel Cabrera became the highest paid player in the history of sports on Thursday when he inked an eight-year, $248 million contract extension. Combined with the two years and $44 million remaining on his current deal, it means he’ll make $292 million over the next ten seasons.

That’s a lot of money for any player, obviously, even if Cabrera’s the best hitter in the world. The contract will likely prove something of an albatross to the Tigers as Cabrera approaches and crosses 40. But as Dave Cameron of Fangraphs points out, Tigers owner Mike Ilitch is 84 years old, and “if anyone should place a significant value on the present at the expense of the future, it is the age bracket to which Mr. Ilitch belongs.”

Cabrera’s contract reflects the continued escalation of MLB salaries as TV money keeps clubs flush with cash. But it’s eye-opening regardless, especially in light of the following facts:

1. He’ll make more money per at-bat than the median household in Michigan

2. He’ll make nearly twice as much per at-bat as the median household in Detroit

According to the census bureau, the median household in Detroit earns $26,955 a year. That’s only 55 percent of what Cabrera roughly will make per at-bat.

3. He could give everyone in the state $20 and still be rich

Just under 10 million people live in Michigan. Miguel Cabrera could methodically walk through the entire state — both peninsulas — handing every single person a crisp $20 bill and still have about $100 million to play with. That would make a good TV show: Miguel Cabrera Gives Everyone $20, coming in 2015 to Bravo.

4. He could buy 25,000 apartments

5. He could eat all the pizza

Ilitch founded Little Caesar’s, so there’s a pretty good chance Cabrera could get some sort of friends and family discount if he were interesting in buying upwards of 60 million pizzas. And since there are eight slices per Hot N’ Ready pizza, and about 314 million people in the country, Miguel Cabrera could throw a pizza party for the entire country, and definitely should.

6. He could nearly own a baseball team

Cabrera has already made about $116 million in his career, so by the time the new extension is finished, he will have earned over $400 million. According to a recent Forbes valuation of MLB teams, the Marlins, Athletics, Royals and Rays are all worth $500 million or less. So if Cabrera earns some endorsement cash on top of his salary and invests everything wisely, he could someday own a club — ideally one built in his image.