As is the annual tradition at FanGraphs, we’re using the week of the All-Star Game — while (some of) the industry pauses for a metaphorical breather — to take stock of the top-50 trade assets in the sport. For more context on exactly what we’re trying to do here, see the honorable-mentions post linked at the top of the page.

For this post and the others in this series, I’ve presented a graphic (by way of the wizard Sean Dolinar) breaking down each player’s objective skill level (represented, in this case, by a five-year WAR projection from ZiPS), contract/team-control details, rank in last year’s series, and then year-by-year details of age/WAR/contract through 2023, although a couple players have control beyond those five years. For those readers who are partial to spreadsheets rather than blocks of text, I’ve also included all the players we’ve ranked so far are in grid format at the bottom of the post.

The ZiPS WAR forecasts did influence the rankings a bit: for players who were bunched together, it acted as an impartial tiebreaker of sorts, but the industry opinions I solicited drove the rankings.

With that said, let’s get to the top 10 spots on the Trade Value list this year.

Severino bests Kluber for the top spot amongst pitchers on this year’s list. He is eight years younger than Kluber with an additional year of control and has been at least as good as the Cleveland right-hander this season, depending on how you measure it. Predictably, though, execs are concerned — as they are with basically any pitcher — that Severino’s next pitch could lead to a year-long DL stint and uncertainty after that. As a 24-year-old who averages 97.7 mph on his fastball, Severino is still a bit of a risky bet compared to comparable hitters. There’s a tier here from Nos. 7 to 13 that you could shuffle in a few different orders depending on your personal preferences or evals of these players.

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Many of us went to bed thinking about the Dodgers’ trade for Manny Machado. Many of us then woke up and turned our attention to the Indians’ sudden trade for Brad Hand and Adam Cimber. Travis Sawchik just wrote about the trade at length. Read that, if you’re looking for specifics. Read that, if you’re looking for an explanation of why the Indians gave up a consensus highly-rated prospect. I don’t know what’s actually going to be left for the trade deadline itself, but this has all made for a delightful All-Star week.

From the Indians’ side, this isn’t just about 2018. It’s about 2018 and beyond, because, this coming fall, Andrew Miller and Cody Allen will become free agents. Hand is under contract through 2020, and there’s a club option for 2021. Cimber only just made his debut on March 29. The Indians are thinking both short- and longer-term, and they believe they now have a couple bullpen stalwarts. This is a huge boost for this coming October, but this also reduces the team’s urgency to build out the pen over the winter. The most important pieces might already be in place.

Thinking about the Indians’ side has made me wonder something. Is there actually such a thing as a long-term good reliever? My instinct for a while has been that teams out of the race should try to cash in their good relievers, because the position is just so volatile. I’ve been thinking about nearly every reliever as a short-term value. I wanted to see what the numbers actually say. So here are the results of a quick little study. It didn’t go exactly how I thought.

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The Indians traded blocked top prospect Francisco Mejia to the Padres for relievers Brad Hand and Adam Cimber today. It’s worth noting that the Dodgers, Indians, and Padres have all swung important deals within the past 24 hours and all have one thing in common: each has created depth by turning low-risk investments into real trade assets, via multiple avenues.

The Dodgers filled out the Machado deal with four prospects who weren’t touted until the last year or so. The Padres got Brad Hand on a waiver claim, while Cimber was completely off the radar until this year. The Indians, for their part, could afford to trade Mejia with Yan Gomes and Roberto Perez representing superior options behind the plate. These aren’t the only instances of these clubs turning nothing into something, but a couple instances ended up driving these big deals.

The Orioles have announced they will create better infrastructure to do this sort of thing more often going forward. There’s also been buzz in scouting circles today that at least one of the clubs that attempted to land Machado believes their package ultimately fell short because of substandard scouting and/or development.

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On the Tuesday prior to the All-Star break, at a game which this author observed from the Progressive Field press box, Trevor Bauer left his start after eight innings with the Indians holding a 4-0 lead. Then a call to the bullpen, complete with a miscommunication error, followed. Dan Otero faced Joey Votto. The Indians lost. It was not necessarily a great surprise: so often something has gone amiss for Cleveland this year after such calls to the bullpen.

As readers of this Web site are likely aware, the Indians’ bullpen has struggled mightily this season, sitting in the bottom quartile by many notable bullpen skill metrics.

The group ranks 28th in WAR (-0.9), 23rd in WPA (-1.07), 29th in ERA (5.28), and 29th in FIP (4.85). There has not been any positive regression, either. Over the past 30 days, the Cleveland relief corps has posted a 4.87 ERA, a 5.10 FIP, and a -0.15 WPA.

Bullpens are fickle beasts. The Indians’ 27th-ranked left-on-base percentage (68.7%) suggests some poor first-half fortune was bound for second-half positive regression. Oliver Perez and Neil Ramirez have been useful finds, with Ramirez perhaps building on his physical talents by learning more how to harness his high-spin fastball and breaking ball in concert. But the Indians had a clear manpower shortage in their bullpen, particularly with Andrew Miller still sidelined and out for much of the first half.

As the All-Star break approached, it felt like the Indians had to do something. Baseball knew the Indians had to do something, so if the Indians were to do something, it was not going to be done cheaply. And on Thursday, the Indians did something.

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As is the annual tradition at FanGraphs, we’re using the week of the All-Star Game — while (some of) the industry pauses to take a metaphorical breather — to take stock of the top-50 trade assets in the sport. For more context on exactly what we’re trying to do here, see the honorable-mentions post linked at the top of the page.

For this post and the others in this series, I’ve presented a graphic (by way of the wizard Sean Dolinar) breaking down each player’s objective skill level (represented, in this case, by a five-year WAR projection from ZiPS), contract/team-control details, rank in last year’s series, and then year-by-year details of age/WAR/contract through 2023, although a couple players have control beyond those five years. For those readers who are partial to spreadsheets rather than blocks of text, I’ve also included all the players we’ve ranked so far are in grid format at the bottom of the post.

The ZiPS WAR forecasts did influence the rankings a bit: for players who were bunched together, it acted as an impartial tiebreaker of sorts, but the industry opinions I solicited drove the rankings.

With that said, let’s get to the next 10 spots on the Trade Value list this year.

Torres was our 12th-ranked prospect entering the year and, while that top tier has mostly stayed where they are (except for party-crashed Juan Soto), there’s been a shuffle of the name up top. Torres is one of the players to whom I refer in the introduction who wouldn’t have appeared on this list before the season began (although he would’ve been in the mix for an honorable mention) but whom it would be insane to exclude now. The difference? Just 63 big-league games. If Torres had no pedigree and was pulling some Shane Spencer or Bo Hart business, this wouldn’t be the case, as his age, pedigree, and track record have all suggested this sort of thing was on the table.

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The Dodgers have shaken off their early-season blues and climbed from 10 games below .500 to 10 above in the space of two months. They just made a huge splash with their Manny Machado acquisition — you can read about their lineup upgrade, their improved odds and the prospects they surrendered — but that doesn’t mean that president of baseball operations Andrew Freidman and general manager Farhan Zaidi can lie back in their hammocks sipping daiquiris through the July 31 nonwaiver trade deadline, as the team still has at least one other area of glaring need: the bullpen.

Before digging into their need to relieve their relievers, it’s worth considering the state of their rotation. The Dodgers have dealt with a variety of injuries thus far such that they have just one pitcher who’s made at least 18 starts — one who has spent the whole season in the rotation without interruption, basically — namely Alex Wood. Whether by accident or design, only four other teams can make that same claim: the upstart A’s (Sean Manaea), resourceful Rays (Blake Snell), and two also-rans, the Blue Jays (J.A. Happ) and Marlins (Jose Urena). The fading Angels, who have been working with a six-man rotation (more or less), have no starter who’s taken more than 17 turns.

From the Dodgers’ original starting five, Kenta Maeda (16 starts), Clayton Kershaw (13), Rich Hill (11), and Hyun-Jin Ryu (six) have all spent time on the disabled list, with Ryu still present there due to a groin strain so severe that you’d be excused for crossing your legs reflexively. Fill-ins Ross Stripling (14 starts) and Walker Buehler (10) began the year in the bullpen and the minors, respectively. Including call-ups Caleb Ferguson (three starts) and Brock Stewart as well as openers Daniel Hudson and Scott Alexander (one apiece), the team has used 11 starters, as many as the Marlins and more than all but the A’s, Angels, Mets (12 apiece), and Rays (14).

Despite the patchwork arrangement, the Dodgers have gotten very good work up front. Their starters’ 10.2 WAR is second in the NL and fourth in the majors, and by both ERA- (86) and FIP- (83), they’re first in the NL. The group has pounded the strike zone (19.8% K-BB, first in the league and second in the majors) while also keeping the ball on the ground (45.7% GB rate, tied for third in the NL and the majors) and in the ballpark (1.03 HR/9, third in the NL and fifth in the majors).

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Zach Pop isn’t the biggest name going from the Dodgers to the Orioles in the Manny Machado trade. But he does have the most electric arm, as well as an impressive track record against A-ball competition. In 35 professional games, the 21-year-old Brampton, Ontario native has allowed just 27 hits — only one of them a home run — in 48.1 innings. His ERA is a minuscule 0.93.

A seventh-round pick last year out of the University of Kentucky, Pop profiles, at least stylistically, as a right-handed version of Zach Britton. His signature pitch is a sinker that not only dips and dives but also sits in the mid-90s and ticks even higher. The worm-killer certainly proved to be an anathema to Midwest and California League hitters this season. Pitching for the Great Lakes Loons and Rancho Cucamonga Quakes, Pop boasted a 64% ground-ball rate and a .168 batting-average-against before being promoted to Double-A earlier this week (and subsequently swapped to the Dodgers, who are reportedly assigning him to the Bowie BaySox).

Pop talked about his aggressive approach on the mound and his decision to not sign with his then-favorite team out of high school, prior to the trade from Los Angeles to Baltimore.

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Pop on how he gets outs: “For me, it’s being able to throw that two-seam sinker — whatever you want to call it — to both sides of the plate, and mixing in the slider. I’ll go in with the four-seam, as well, to give a little bit of a different look, but everything starts off with the two-seamer sinker. That’s my strength. I like to stay down in the zone.

“I’m hunting outs any way I can get them. My goal is to induce weak contact, and if they want to swing at the first or second pitch and make an out before I can get a strikeout opportunity, than so be it. I haven’t really struck out that many guys this year with the Quakes, only around one per inning, maybe a little less. For the most part, I’m just trying to be efficient. I’m trying to break a barrel or just keep the ball on the ground.”

On his sinker and his delivery: “I do [have good velocity]. Yesterday, I hit 99 with my two-seamer. It used to be the case that I’d throw harder with my four-seam, but now it’s kind of equaled out. The only thing that’s really different is the movement. I get some pretty crazy numbers on my sinker. I think I have something like 20 inches of horizontal, and five inches of vertical, movement.

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Well before the rumors of a deal between the Dodgers and Orioles surfaced this week, Manny Machado was — as a legitimate star with an expiring contract on a team unlikely to contend — considered the prize of this year’s trade deadline. The 2018 season has done nothing so far to invalidate that notion, Machado bouncing back considerably from a surprisingly unimpressive 2017 season to hit .315/.387/.575, all three parts of that slash line representing career bests. The move back to shortstop hasn’t been quite as successful, but even a narcoleptic Jeff Blauser would have significant value with this kind of offensive contribution.

It took about 92 games longer than expected, but the Dodgers entered the All-Star break in first place, caressing a half-game lead over the Arizona Diamondbacks in the NL West. Nor is it a two-team race: the Colorado Rockies sit just two games back and the team’s traditional rivals, the San Francisco Giants, are still hanging on four games behind despite a bevy of nasty surprises in the rotation this season. There are reasons to believe that the Dodgers are in better position than their slim divisional lead might suggest, their somewhat modest record due more to underperformance than any fatal flaw in how the roster is designed. Even before the Machado trade, the updated ZiPS projections saw the Dodgers as the strongest National League team in terms of the strength of roster and the likely depth-chart configuration.

There are areas where ZiPS produces different results than the official postseason odds calculated from the combined Steamer/ZiPS projections. ZiPS, for example, has long preferred the Braves, Brewers, and Phillies while being a bit Nationals-skeptical, but both the ZiPS and FanGraphs methodologies agree that the Dodgers had the best roster in the National League before the trade. The problem the Dodgers faced is that, while the mean projections obviously look quite favorably on their prospects, mean projections also don’t account for the uncertainty around the numbers, which can be quite significant. Even firmly believing that the Dodgers had the strongest roster in the NL West, ZiPS still called for them — after a million years of game-by-game matchups — to lose out on the division about once every three times.

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The prospect package acquired from Los Angeles in exchange for Manny Machado is deep on warm bodies who are likely to wear a big-league uniform and produce some kind of value. One or two of those new Orioles has a realistic chance of producing two wins or better annually and making enough noise to drown out the howls of a fanbase that’s losing its most talented player since Cal Ripken.

The collection of talent sent to Baltimore is headlined by 21-year-old Cuban OF Yusniel Diaz and 22-year-old righty Dean Kremer, the latter of whom had recently been promoted to Double-A. Up-and-down utility infielder Breyvic Valera, 21-year-old reliever Zach Pop, and 21-year-old breakout performer INF Rylan Bannon were also acquired in the deal.

Diaz, whom Kiley and I saw this weekend at the Futures Game, is a career .288 hitter who leaves behind a .314/.428/.477 slash line at Double-A Tulsa. Diaz homered twice on Sunday, once to right-center, once to left-center, and had one of the better batting-practice sessions on the World team.

For all that, Diaz hasn’t exhibited much over-the-fence power as a professional, even during his 165-game stay in the Cal League between 2016 and -17. He’s an all-fields line-drive hitter who keeps his hands inside the ball and peppers the right-center-field gap. He’s much more likely to display doubles power in games, which could cap his ceiling a bit, as the offensive bar in left field, where Diaz projects due to speed and arm-strength limitations, is quite high.

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