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Correct... the higher of the two. After all, being eligible at multiple positions is quite a benefit. As a GM, if it appears a player will lose that extra position the next year, and that is the position that deems the higher salary then it may not be worth it to sign said player.
The rules specifically state the "player's highest ranking by position...". I just pointed out a case where the rankings are the SAME for the player. Bautista will most likely be an OF going foward, because the Blue Jays have Lawrie. For the final time. Does that mean he must be re-signed for $27.5m per year or $22.5m? The rules don't say anything about using the highest salary amount. They only refer to rankings, and in Bautista's case it is the SAME.
The intention of the rule is to say highest salary per positional rankings. I will update that and the ambigious June 1st split. Thanks for pointing that out.