I know nothing about US sports but there’s a great example from the Premier League back in 2000 when Chelsea signed a Dutch defender called Winston Bogarde on a 4 year £10million contract and shortly afterwards decided they didn’t want him. The player refused to find a new club stating
He played 9 times for them in 4 years.
Currently you’ve got the issue of Marcus Rashford at Manchester United. Given a 5 year deal in 2023 worth £100mil, his form dipped so badly he spent the last 6 months being loaned to a rival team with Manchester United still having to cover about $1 million of his wages every month!
11 year contracts in baseball? That’s insane!