Dan Haren, Tim Lincecum, and Perception Gaps
An hour ago, we released the results of our free agent crowdsourcing project, in the form of a list sorted by the highest projected contract values. On that list, Tim Lincecum was projected to sign the 10th largest free agent contract of any player this winter, coming in at $40 million over three years, even though it is pretty clear that the Giants are going to make Lincecum a qualifying offer, which will require any team signing him to give up a draft pick and the draft dollars that go along with that spot.
The crowd was not so optimistic about Dan Haren, however. He’s projected to earn $19 million over two years, and the two years is rounded up from an actual estimate of 1.76 seasons, so it might be fair to categorize that as one guaranteed year and the expectation of some kind of vesting or team option. There is basically no chance that the Nationals will make Haren a qualifying offer, so he will come free of draft pick compensation to any signing team.
That’s a pretty huge gap in expected cost, especially once you factor in the draft pick. We’re talking double the guaranteed money, plus whatever value a team places on the draft dollars it is giving up, which will almost certainly translate into a few million of extra lost value. Once you factor in the value of the draft pick, the projected cost difference between the two hurlers is around $25 million. And yet, no matter how you slice their recent performance data, they look pretty darn similar.