Tim Wakefield was an American professional baseball pitcher who had an estimated net worth of $20 million at the time of his death. Wakefield spent 19 seasons in Major League Baseball, becoming one of the most recognizable and durable players in Boston Red Sox history. He played for the Pittsburgh Pirates early in his career before joining the Red Sox in 1995, where he remained through the end of his playing career in 2011.
Wakefield won two World Series championships with Boston, helping the Red Sox end their 86-year championship drought in 2004 before winning another title in 2007. He also received the Roberto Clemente Award in 2010 for his character, community involvement and contributions to the sport.
During his MLB career, Wakefield earned more than $55 million in salary.
Wakefield died on October 1, 2023, at the age of 57.
| Tim Wakefield Net Worth | $20 Million |
| Date of Birth | August 2, 1966 |
| Place of Birth | Melbourne, Florida |
Early Life
Timothy Stephen Wakefield was born on August 2, 1966, in Melbourne, Florida. He attended Eau Gallie High School before enrolling at the Florida Institute of Technology.
Wakefield played college baseball for the Florida Tech Panthers and initially established himself as a powerful hitter. He set a school record with 22 home runs in a single season, demonstrating that his baseball career did not initially appear destined to revolve around pitching.
His professional career took a different path after the Pittsburgh Pirates selected him in the eighth round of the 1988 MLB Draft.
Pittsburgh Pirates
Wakefield began his professional career in 1989 with the Salem Buccaneers, a Single-A affiliate of the Pirates. He quickly established himself as a promising pitcher and led the Carolina League in starts and innings pitched in 1990.
After moving to Double-A in 1991, Wakefield continued to produce strong numbers. He led Pirates minor league players in wins, innings pitched and complete games.
He began the 1992 season with the Triple-A Buffalo Bisons before receiving his first major league call-up in July. Wakefield made an immediate impression, throwing a complete game against the St. Louis Cardinals in his MLB debut.
He finished his rookie season with the National League Rookie Pitcher of the Year Award and helped Pittsburgh reach the NLCS, where the Pirates lost to the Atlanta Braves.
Wakefield struggled during the following two seasons. He finished 1993 with a 6-11 record and a 5.61 ERA and spent much of 1994 back in the minor leagues. The Pirates released him in the spring of 1995.
That decision proved costly for Pittsburgh because Wakefield soon found a new home in Boston.
Boston Red Sox
Just six days after his release by the Pirates, Wakefield signed with the Boston Red Sox. He began with the Triple-A Pawtucket Red Sox before being promoted to the major league club.
Wakefield immediately enjoyed a career resurgence. In his first season with Boston, he went 16-8 with a 2.95 ERA and helped the Red Sox win the American League East.
His performance declined during the next several seasons, with his ERA rising above 4.00 in each of the following three campaigns. He nevertheless remained an important member of the pitching staff.
Wakefield’s unusual pitching style also made him one of baseball’s most recognizable pitchers. He relied heavily on a knuckleball, a difficult pitch that can move unpredictably and requires a specialized approach from both the pitcher and catcher.
From 2000 to 2002, Wakefield moved between the starting rotation and bullpen depending on the team’s needs. In 2003, he permanently returned to the starting rotation.
2004 World Series Championship
Wakefield played an important role in Boston’s historic 2004 season.
The Red Sox reached the American League Championship Series against the New York Yankees. In Game 7, Boston eventually lost after Aaron Boone hit a walk-off home run in the 11th inning. Wakefield had entered the game as a relief pitcher and absorbed the loss.
The following season, however, the Red Sox finally broke through.
Boston defeated the Yankees in the ALCS after overcoming a 3-0 series deficit. The Red Sox then swept the St. Louis Cardinals in the World Series to win their first championship since 1918.
Wakefield became part of one of the most significant championship teams in franchise history.
Second World Series Title
Wakefield continued to serve as a dependable member of Boston’s pitching staff after the 2004 championship.
In 2005, he led the Red Sox pitching staff with 16 victories and posted a 4.15 ERA. He remained with the club as Boston continued competing at the highest level.
The Red Sox returned to the World Series in 2007 and defeated the Colorado Rockies in a four-game sweep. Wakefield earned his second World Series championship, although a shoulder injury prevented him from pitching in the postseason.
Final MLB Seasons
Wakefield continued playing well into his 40s.
In 2009, at age 42, he became the oldest Red Sox pitcher to throw a complete game. He followed that performance with another complete game in his next start.
Later that year, Wakefield surpassed Roger Clemens for the most starts in Red Sox history. In 2010, he also passed Clemens for the franchise record for innings pitched.
That year, Wakefield received the Roberto Clemente Award, one of Major League Baseball’s most respected honors for a player recognized for sportsmanship, community involvement and character.
Wakefield played his final MLB season in 2011. At 44, he became the oldest player ever to appear for the Red Sox. He also recorded his 200th career victory.
He announced his retirement in early 2012 after declining a minor league contract.
Career Earnings
Tim Wakefield earned more than $55 million in MLB salary during his professional career.
His financial success came despite a career that began with the Pittsburgh Pirates and included a significant period in the minor leagues. His long tenure with the Red Sox ultimately provided him with financial stability and made him one of the franchise’s most recognizable players.
Post-MLB Career
After retiring from professional baseball, Wakefield remained closely connected to the Red Sox.
He joined NESN as a studio analyst, providing commentary and analysis around Red Sox games. He remained in that role through the 2023 season.
Wakefield also appeared in media campaigns and worked as a spokesperson for Farmington Bank.
His post-playing career allowed him to remain involved in baseball while also expanding his work in broadcasting and public appearances.
Personal Life
Wakefield married Stacy Stover in 2002. The couple had two children, Trevor and Brianna.
He was also known for his charitable work and involvement in the community. His receipt of the Roberto Clemente Award in 2010 reflected his contributions away from the baseball field.
Death
Tim Wakefield died on October 1, 2023, at his home in Massachusetts. He was 57.
His death came after he was diagnosed with brain cancer and suffered a seizure. His passing was mourned throughout the baseball community, particularly in Boston, where he had spent the majority of his 19-year MLB career.
Wakefield finished his career with 200 wins, making him one of only a select group of pitchers to reach that milestone. He also ranks third in Red Sox franchise history in wins, with 186.
Florida House
Wakefield also invested in real estate during his career.
In December 2006, he paid approximately $2.58 million for a waterfront home in Indian Harbour Beach, Florida. After his death, his estate listed the property for sale in November 2024 for approximately $3.3 million.
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