When I read today’s ZiPS projections for the Blue Jays, I was struck by one clear weakness: starting pitching depth. The team boasts an impressive lineup across the board, with Lourdes Gurriel Jr. the closest thing to a weak spot. Toronto also has two borderline aces in Alek Manoah and Kevin Gausman.

That sounds great, but the fourth and fifth starters are projected for a combined 1.7 WAR, which is wildly uninspiring. That hardly seems like a smart plan for a presumptive playoff team, but the Jays are no dummies. Those projections are now outdated — sorry Dan! — because Chris Bassitt is headed north on a three-year, $63 million deal, as Jeff Passan first reported.

Bassitt isn’t the best pitcher to reach free agency this season, but he’s squarely in the top tier. I ranked him 14th among the top 50 free agents this offseason, with only four pitchers ahead of him. Rational observers could certainly differ on that; he’s at the head of a large pack of starters who I think will deliver roughly equivalent value over the next few years. But the general point holds: he’s the kind of pitcher that you probably don’t want starting your first game of the playoffs but that you’d be ecstatic to have as a third starter. Read the rest of this entry »

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The Braves have taken a heterodox approach to building a bullpen in recent years. Sometimes they apply the overall team strategy of strongly preferring players with ties to Georgia, like Collin McHugh and former Brave Will Smith. Sometimes they take fliers on players looking to reinvigorate their careers, like Kirby Yates and Nick Anderson. Sometimes they fleece the Angels for Raisel Iglesias, or sign a good closer to a short-term deal like Kenley Jansen, or draft and develop an A.J. Minter. Heck, sometimes they just call Jesse Chavez, and he magically appears in the bullpen.

This week, they’re trying a new tack, making a trade to shore up their already-solid relief corps. It wasn’t the biggest transaction of the week or anywhere near it, but every transaction deserves a little analysis. Let’s talk Braves and Tigers. Let’s talk Joe Jiménez, Justyn-Henry Malloy, and Jake Higginbotham:

#Braves acquire RHP Joe Jiménez: pic.twitter.com/VkFZGXIdhw

— Atlanta Braves (@Braves) December 8, 2022

Jiménez is a walking advertisement for reliever volatility. Depending on the year, he’s been either excellent or near-unplayable. His true talent level likely lies somewhere in between his superlative 2022, when he struck out a third of opposing batters to go with pinpoint control, and his ’21, when he ran a 16.7% walk rate and an ERA approaching 6.00. Sure, relievers are volatile, but Jiménez has been really volatile. Read the rest of this entry »

For more than a decade, Kenley Jansen has been a part of the fabric of baseball. He’s spent most of that time with the Dodgers, logging a dozen seasons as the reliever whose late-inning fortune sent Los Angeles fans into agony or ecstasy. Last year, he decamped for Atlanta, and this year his travels will continue: as Jeff Passan first reported, he’s shipping up to Boston on a two-year, $32 million deal.

At 35, Jansen is headed into the tail end of his career, though he’s still got plenty in the tank. Over the past five years, he’s declined from one of the best few relievers in the game – he posted a 2.01 ERA from 2013-17 – to merely an effective bullpen arm, with an aggregate 3.08 ERA and the peripherals to match. That’s a relatively graceful downward path, though it hasn’t always felt that way. Dodgers fans alternated between bringing out pitchforks and convincing themselves that Jansen was returning to his earlier dominance over four of those years, and he was unsteady at times in Atlanta, though he put together a solid season on the whole.

His pitch mix has likewise changed with age. Early in his career, “mix” might even have been a misnomer, because it implies a minimum of two things. From 2010-18, 87% of his pitches were cutters. That’s more of a pitch monoculture, or a pitch manufactured subdivision; every house identical, every plant eerily perfect. Read the rest of this entry »

On Tuesday evening, a thrill swept through the winter meetings. The rumors were true – the San Francisco Giants were in agreement with an American League right fielder on a multi-year deal. Yes, San Francisco, it’s time to welcome a new slugging right-handed hitter to town: Mitch Haniger signed a three-year, $43.5 million deal to become a Giant, with an opt out after year two.

Oh, you were expecting Aaron Judge? That didn’t quite pan out, though the Giants are reportedly still in pursuit of another hitter in free agency. But Haniger is a first course, and he fits the Giants quite well whether they look for another outfielder or pivot to the infield for help.

At season’s end, the San Francisco outfield was predominantly a lefty affair. Joc Pederson appeared in the outfield in 120 games. Mike Yastrzemski played the outfield in 147 of his own. LaMonte Wade Jr. missed a lot of time with injury, but rotated between seemingly every position in the field when he was healthy, including both left and right. The Giants theoretically love to mix and match based on the opposition, but they did a lot of running out a squad of lefties last year.
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MLB’s annual winter meetings usually prompt free-agent signings. The last time they were held before COVID-19 interrupted the league’s yearly schedule, Gerrit Cole, Stephen Strasburg, and Anthony Rendon all signed. This year feels like more of the same; Jacob deGrom signed in the leadup to the meetings, Trea Turner and Justin Verlander signed during them, and several other top free agents are rumored to be next.

But not every signing can be thunderous. The Pirates aren’t going to make the World Series next year. They probably won’t win 80 games; they went 62–100 in 2022 and haven’t approached .500 since they went 82–79 in 2018. But they made two signings on Tuesday in San Diego, adding Vince Velasquez and Jarlín García on one-year deals worth $3.15 million and $2.5 million, respectively. García’s deal also contains a club option for 2024 worth $3.25 million.

Neither of these deals will alter the balance of power in the NL Central, but I think both make plenty of sense for Pittsburgh. Let’s start with the starter — or at least, the pitcher who more resembles a starter. Velasquez flashed tantalizing potential over five-plus seasons with the Phillies, but inconsistent command and secondaries held him back. He spent 2022 on the White Sox as a swingman, jumping to the rotation when injuries hit the projected starters. Read the rest of this entry »

I don’t bring this up very often, but before I wrote here, I had a job trading interest rates. I won’t bore you with the technical details, but I’ve been drawing on that experience a lot recently in thinking about how teams operate when signing free agents, so I thought I’d lay out my recent thoughts here. None of this is quite fully formed yet, but I think I’m on the way there, and I’d love to hear some feedback and see if I can better formulate my point as a result.

Speaking broadly, there are two main ways to get a return on your investment in finance. First, you could lean into the efficiency of the market. You’ve probably never heard of most of the companies that do this: Virtu, DRW, Jump, Hudson River, Susquehanna, Two Sigma. They’re all major players with virtually no broader name recognition. They’re broadly considered “high-frequency traders,” which means they buy and sell an absolutely massive number of stocks and bonds every day, trying to make a tiny profit on each one.

This is the “efficient market” you learned about if you took an economics class in college. If you’re trying to buy one share of a stock and I’m trying to sell one, a high-frequency trader will hope to sell to you at $100.00, buy from me at $99.99, and pocket the penny of difference. Do that a billion times, and pretty soon you’re talking about real money. It’s more complex than that — obviously, given the amount of brain and computing power all of these companies exert — but you can broadly think of them as profiting because there’s a well-accepted price for any given security at any given time, which means they can make money off of tiny deviations from that fair price. Read the rest of this entry »

Let’s get the specifics out of the way first, so we can all gasp and react together. Jacob deGrom is now a Texas Ranger, after he signed a five-year, $185 million deal with a conditional option for a sixth year, as Jeff Passan first reported:

BREAKING: Right-hander Jacob deGrom has signed a five-year, $185 million contract with the Texas Rangers, sources tell ESPN. Physical is passed. Deal is done. Includes conditional sixth-year option that would take total deal to $222 million. Full no-trade clause. A massive haul.

— Jeff Passan (@JeffPassan) December 3, 2022

Alright, now that we’ve got that written down: gasp! I have to say, I didn’t see this coming. Earlier this week, I described deGrom as the one pitcher I’d want on the mound if humanity was going to play a single baseball game against an alien society to determine the fate of the world. Simply put, he’s the best doing it right now when he’s available.

His opponents next year won’t be aliens. In fact, they’ll be the ones who feel like they’re facing an extra-terrestrial, because the way deGrom pitches doesn’t resemble any other starter. He pumps 100 mph fastballs and hits the edges of the strike zone with frankly inhuman precision. The velocity understates how good his fastball is. Even the location understates how good his fastball is. He also induces tremendous vertical break on the ball, and his delivery means that his fastball crosses the plate at a comically shallow angle. I wouldn’t trust any characteristic-based pitching model that didn’t grade deGrom’s fastball as an 80 – it’s as good as it gets. Read the rest of this entry »

“He made a mistake, and Trout made him pay.” No doubt you’ve heard some version of that sentence countless times. Maybe the announcers called it a hanging slider, or a meatball, or any number of other ways of describing a poor pitch. But what exactly does it mean, and how can you know one when you see one?

I’ve discussed that question with my colleagues frequently, but we’ve never come up with a satisfactory answer because the pitches that get classified as mistakes aren’t always intuitive. Sometimes a pitcher hits the inside edge of the zone, only for a hitter sitting on just such a pitch to unload on it. Sometimes a backup slider ties up the opposing hitter. There’s bias to these observations, too: You’re far more likely to remember a pitch that gets clobbered for a home run than one that merely results in a take or a loud foul.

I still don’t have a definitive answer. I did, however, make an attempt at answering one very specific form of the question. One pitch that really does feel like a mistake, regardless of intent and irrespective of circumstance, is a backup slider over the heart of the plate. Spin a slider wrong, and it morphs into a cement mixer, turning over sideways without movement. Leave one of those middle middle, and the result is a slow and centrally located bat magnet. Read the rest of this entry »

The Nationals aren’t going to make the playoffs in 2023. They probably won’t even sniff .500; unsurprisingly, the team that traded Juan Soto along with everything that wasn’t nailed down this past season isn’t quite ready to compete for division titles. That doesn’t mean they shouldn’t try to get better, though – when the next generation of Nationals stars reaches the majors, the team would prefer to have some major league pieces already in place, mirroring the vaunted Cubs and Astros rebuilds of the 2010s. To that end, the Nationals made a signing I absolutely love yesterday, snagging Jeimer Candelario on a one-year deal worth $5 million, with $1 million in incentives.

Before the 2022 season, no one would have believed you if you told them Candelario would be a free agent this winter. In 2020 and ’21, he hit a combined .278/.356/.458, good for a 125 wRC+. He backed that up with decent defense at third base; all told, he looked like a comfortably above-average player carried by his bat. Then came 2022, an abject disaster; over 124 injury-interrupted games, he hit .217/.272/.361 and saw pretty much every statistical indicator tick downwards. The Tigers chose to release him rather than go through arbitration, which MLB Trade Rumors estimated at roughly $7 million.

For the 2020 and ’21 versions of Candelario, that would be a bargain. Quite frankly, I still think it would make sense after his poor 2022 season. The Tigers didn’t share my assessment, valuing the combination of money and roster space as more important than retaining his services. I’m not quite sure I understand it – they currently have two open spots on their 40-man roster and no in-house third baseman – but their loss was Washington’s gain. Read the rest of this entry »