If you weren’t looking for it, you’d miss it. Buried in a blow-by-blow account from The Athletic’s Matt Gelb of how the Phillies ended up signing Kyle Schwarber, FanGraphs newsletter writer Jeffrey Bellone spotted something interesting:

“However, under the new CBA, a traded contract is recalculated to reflect the remaining actual dollars. That means contracts that are backloaded will be harder to trade (if the acquiring team is concerned about the luxury tax threshold).”

This change was an afterthought in the piece, an offhand justification the Phillies made for not acquiring Kevin Kiermaier. His remaining average salary outstrips the average annual value of his deal, which means that under the terms of the new CBA, he’d carry a higher tax hit than he would have in the old regime. The ownership group’s desire to abide by the sport’s soft salary cap made Kiermaier’s salary an untenable addition.

With the benefit of hindsight, it seems that ownership didn’t actually care about the dollars very much, given that they signed Nick Castellanos and ticked over the first CBT threshold anyway. And given that the tax rate is 20%, the difference in Kiermaier’s tax hit under the old and new agreements is a hair under $6 million; the total monetary difference would have been roughly $1 million in assessed tax. That’s a vanishingly small difference on a $230 million payroll.

I’ll level with you: I don’t think this is going to be an earth-shaking change to the economics of baseball. Only five teams look likely to pay any tax this year, with a few other in hailing distance of the barrier. The differences aren’t huge; $6 million a year isn’t quite a rounding error, but it’s hardly a life-and-death number. Remember: teams are not actually paying Kiermaier $6 million more than they would have before. Salary is salary. This is merely an accounting game that affects teams who pay at least some amount of tax.

Still, we analysts love financial tomfoolery, so let’s consider a few contracts that are interestingly shaped now that trades can trigger the re-calculation of tax numbers. First, a quick disclaimer: I haven’t seen the exact text of the new agreement. It’s unclear how the Rays’ CBT number would be affected by trading Kiermaier; I’m assuming no effect, but if that isn’t the case, that obviously changes the calculus. It’s not clear how signing bonuses will be handled, either; it appears that it would be spread evenly across each year, but again, I’m working from the outside.
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I have a schematic in my head for how a major league team can assemble a dominant bullpen. You, as someone who reads FanGraphs, probably have an idea in your head for how a major league team can assemble a dominant bullpen. They’re probably the same ideas – assemble a stable of guys who can throw 98. If that doesn’t work, assemble a stable of guys who can throw 99, and add wipeout sliders until it clicks.

The Mariners had one of the best bullpens in baseball last year, and they nearly rode that unit – and their resulting excellent performance in close games – to the playoffs. You don’t coin “fun differential” if you don’t have a good bullpen. Yesterday, the team bolstered this year’s version by signing Sergio Romo to a one-year deal worth $2 million (or up to $2.25 million with incentives). In doing so, they added to a truly interesting unit that will look to back up last year’s spectacular performance while eschewing the way that their competitors look to combine relievers, at least to a degree.

In 2021, 135 relievers threw at least 20 innings while averaging 95 mph or higher on their fastballs. The Mariners will employ one of them – Diego Castillo – this year, and he’s only on the list due to his rarely-used four-seamer, as his sinker dipped below 95 last year. They have some other flamethrowers in their ‘pen – Andrés Muñoz throws 100, but missed most of 2021 with injury. Ken Giles might qualify as a flamethrower eventually, but his recovery from Tommy John so far has him topping out at 95. Read the rest of this entry »

If Twitter determined reality, Carlos Correa would be a Yankee right now. A week after the World Series ended, he posed for a picture in front of Madison Square Garden wearing blue and gray, with former teammate Martín Maldonado playing photographer. You could see the writing on the wall, and many Yankees fans did.

If friendships determined reality, he’d surely still be an Astro. It was Maldonado with him in New York, and the charismatic catcher had a leg up in the recruiting pitch: he had all offseason to talk to Correa, while teams were maintaining radio silence due to the lockout. Houston came back to the table, too: they made several late offers to Correa in an attempt to woo him back.

But Correa has agency, and the Twins do too. Last night, he shocked the baseball world by signing a three-year deal to play in Minnesota:

MLB source: Free agent shortstop Carlos Correa has reached an agreement with the Minnesota Twins (@Twins) on a three-year deal worth $105.3 million with opt outs after the first two years. Highest average annual value for an MLB infielder.

— Mark Berman (@MarkBerman_) March 19, 2022

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Free agent signings come in several flavors. There are the big splashy ones – ooh, Kris Bryant and Freddie Freeman are in the NL West now! There are good-fit signings – Mark Canha on the Mets and Yusei Kikuchi on the Blue Jays fill necessary roles on exciting clubs. There are even feel-good reunions, like Zack Greinke returning to the Royals.

There are also reliever signings. So, so many reliever signings. Not every team can sign a star first baseman, but everyone needs a flock of middle-inning arms. There are nine innings every game, and starters don’t pitch as many frames as they used to, and – well, you get the idea, there are a ton of reasons to go out and find some innings, even if you’re not planning on winning 257 games like the Dodgers or overthrowing the established order of things like the Blue Jays.

To that end, the Cubs signed three relievers yesterday, and the Angels signed two of their own. Chicago gave Daniel Norris one year and $1.75 million plus incentives, David Robertson one year and $3.5 million plus incentives, and Mychal Givens one year and $5 million plus incentives. For their part, the Angels signed Archie Bradley for one year and $3.75 million, but also went up-market and signed MVP vote-getter Ryan Tepera to a two-year, $14 million deal. Read the rest of this entry »

Freddie Freeman went out on top in 2021, riding in a parade through Atlanta as the unquestioned leader of a franchise he’d taken to World Series glory. He’s coming into 2022 on top, but in a different way. This time, he’s headed to Los Angeles as the newest member of a team he beat in the playoffs last year. But more importantly, he’s doing it with $162 million:

BREAKING: Freddie Freeman has agreed to terms with the Dodgers on a six-year, $162 million deal according to @JeffPassan and me.

— Kiley McDaniel (@kileymcd) March 17, 2022

With this signing, the Dodgers are taking another crack at what they briefly built midway through last season: an offense with an All-Star at every position, the kind of team that doesn’t just have depth but also enviable breadth. Cody Bellinger? He’ll likely bat eighth. Will Smith? He’ll be the most overqualified six hole hitter in the game.

It feels like too much. It feels like overkill. But that’s because we’ve all become accustomed to a style of team-building focused on risk mitigation. Have the best team in baseball? Recent orthodoxy would tell you to consolidate your gains and focus on signing one of your stars to an extension, or fortify your minor league system to help develop the next crop of stars. It’s a popular method because it works; no less a team than the Dodgers showed the benefits of this strategy as they built a powerhouse throughout the middle of the last decade. Read the rest of this entry »

On Monday, the A’s made the biggest trade of the year when they sent Matt Olson to the Braves. This morning, they kept the momentum going and made the second-biggest trade of the year. Matt Chapman is headed to Canada in exchange for a four-prospect return:

Blue Jays deal for Matt Chapman is done. Kevin Smith, Gunnar Hoglund, Zach Logue and Kirby Snead are headed to Athletics, per source.

— Shi Davidi (@ShiDavidi) March 16, 2022

Oakland doesn’t do anything by half measures, and with Olson and Chris Bassitt out the door, the team was in competitive limbo. Toronto was in search of a new infielder after Marcus Semien left in free agency. It doesn’t take a rocket scientist to realize the potential fit here, and the two teams were linked in trade rumors for much of the locked-out offseason.

From the Jays’ perspective, this trade gets them exactly what they wanted. After losing two of their top starting pitchers in free agency, they signed Kevin Gausman and Yusei Kikuchi to fill holes in the rotation. That still left them with a diminished offensive group, and there weren’t any obvious free agent fits to spruce things up. It may have been a coincidence, but as the Jays pursued Freddie Freeman and Kyle Schwarber, Vladimir Guerrero Jr. was spotted doing third base drills, a sign of how intent the Jays were on shoehorning another hitter into their lineup, positional fit notwithstanding. Read the rest of this entry »

If you think back through the mists of time to last October, the Braves had one calling card on their march to the World Series: a bullpen that answered the bell day after day and either kept them in games or closed the door, depending on the situation. The core four members of that bullpen – Will Smith, Tyler Matzek, Luke Jackson, and A.J. Minter – will return, but some peripheral members of the team’s pitching staff left in free agency, and you can always use more pitching. To that end, Atlanta signed Collin McHugh today:

#Braves Sign RHP Collin McHugh: pic.twitter.com/MjLGaejG0h

— Atlanta Braves (@Braves) March 15, 2022

As far as I’m concerned, the terms of the deal – two years and $10 million, with an additional team option for $5 million net of buyout – are an incredible deal for the defending champions. McHugh was one of the best relievers in baseball last year on a rate basis, and he’s getting less this year than Brad Hand, who bounced through three teams on his way to a below-replacement-level season.

I could just tell you that McHugh looks like a good bet to provide strong relief work, but I’ll do slightly better than that. As Jon Tayler noted in our free agent preview, McHugh made one key change to his pitch mix in 2021: he rediscovered an old friend. He threw his cutter 33% of his time, a rate he hadn’t approached since he was a full-time starter in 2016. In addition to that, he maxed out on slider usage; he threw it 52.9% of the time, by far a career high. He was essentially a cutter/slider pitcher, with the occasional four-seamer mixed in for the element of surprise.
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It would be fun, if you were running a team, to go out and sign the best available player at every position where you had even a specter of a question. Need a shortstop? Call Carlos Correa. First baseman? Freddie Freeman awaits. Second baseman? Science now allows us to regrow and clone Rogers Hornsby. If you’re spending at the completely fake top end of the market that I just made up, you might as well spring for the very best available.

Sadly, the real world doesn’t quite work that way. For one, teams don’t have infinite money; more importantly, cloning and reanimating technology doesn’t exist yet unless you’re interested in making Scottish sheep. Even good teams have to sign players who aren’t perennial MVP contenders, or even perennial All Stars. The Dodgers signed Jake Lamb and Hanser Alberto this week, and the White Sox signed Josh Harrison. None will be the best player on their team. None will be an MVP frontrunner. All three are interesting fits that will help their teams, though.
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While titans of industry like Matt Olson, Nelson Cruz, and Josh Donaldson were changing teams, a few other things happened in the baseball world. For example: Sean Doolittle, Brad Hand, Ian Kennedy, and Chad Kuhl all found new teams. Sure, they weren’t the headliners of the last few days, but they’re all interesting in their own way. Let’s run down these signings alphabetically and maybe tell a joke or two while doing so.

Nationals Sign Sean Doolittle

When the Nationals traded for Sean Doolittle in 2017, he brought much-needed bullpen stability to an already-competitive team. Things aren’t quite the same for either side in their reunion. Doolittle had a down 2020, then signed a one-year, $1.5 million deal with the Reds. With Cincinnati out of the running and Doolittle losing high-leverage opportunities, they put him on waivers, and he finished his season as a middle reliever in Seattle. Read the rest of this entry »

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