Checking In on Free Agent Contract Predictions

As of the time I’m writing this article, roughly half of our Top 50 free agents have signed new contracts this offseason. That sounds like a great time to take a look at how the market has developed, both for individual players and overall positional archetypes. For example, starting pitchers have been all the rage so far, or so it seems. But does that match up with the data?
I sliced the data up into three groups to get a handle on this: starters, relievers, and position players. I then calculated how far off both I and the crowdsourced predictions were when it came to average annual value and total dollars handed out. You can see here that I came out very slightly ahead of the pack of readers by these metrics, at least so far:
Category | Ben AAV | Crowd AAV | Ben Total $ | Crowd Total $ |
---|---|---|---|---|
SP | -$2.8M | -$3.0M | -$16.9M | -$16.8M |
RP | -$0.2M | -$1.7M | -$6.4M | -$9.4M |
Hitter | -$1.1M | -$1.6M | -$17.5M | -$17.9M |
Overall | -$1.9M | -$2.4M | -$16.3M | -$16.7M |
To be fair, none of us have done particularly well. The last two years I’ve run this experiment, I missed by around $1 million in average annual value, and the crowd missed by between $1 and $2 million. Likewise, I’ve missed by roughly $10 million in average annual value per contract, with the crowd around $18 million. This year, the contracts have been longer than I expected, and richer than you readers expected, though you did a much better job on a relative basis when it came to predicting total dollar outlay. We were all low on every category, though, across the board.
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