$119 million dollars is a lot to pay, especially because it was the largest contract in New York Mets history at the time. However, the actual contract over the seven years was really worth 97 million dollars.
This is because 22 million of the 119 million dollars were deferred in order to make the contract more manageable and does not include any of the incentives that Carlos Beltran was offered.
Following his departure from the team in 2011, the team continued to pay him to the tune of $3,142,857 per season starting in 2012.