For a few decades now, the easiest way to get paid in MLB was to hit a bunch of home runs. Given the way bat-first outfielders and first baseman got compensated in free agency, the catchphrase actually should have been “General Mangers Dig The Longball.” The trend in free agency for quite a while has been that offense is expensive and defense is cheap.
Except, that seems to be changing.
On Friday morning, the Mariners made what looked like a weird trade, shipping useful outfielder Seth Smith to the Orioles for less useful starting pitcher Yovani Gallardo, who is both not as good as Smith but also more expensive. Sure, the Mariners needed some more pitching depth, but they weren’t really rolling around in extra good outfielders, so subtracting Smith seemed weird.
Then, though, they made a second trade, this time swapping a starting pitcher for an outfielder, that made the pair of moves make a bit more sense. In the second deal, they shipped Nate Karns to Kansas City in exchange for Jarrod Dyson, who is a better player than Smith, so the series of moves actually resulted in an OF upgrade, with the impact to the pitching staff depending on what you think of Karns, who has both obvious strengths and minuses.
Back on November 29th, the Brewers decided to non-tender first baseman Chris Carter, despite the fact that he hit 41 home runs for them last year. Despite his big time power, they wanted to open the position for Eric Thames, a free agent they signed the same day. Thames has been a star over in Korea the last few years, and the Brewers decided to bet on his uncertainty, hoping that some of his success over there is based on real improvements, and not just evidence of what a minor league slugger can do to inferior competition.
Normally, when teams make moves, we like to cite the projection system data as a baseline, to give us a rough understanding of what a player might reasonably be expected to do going forward. Because Thames was playing in Korea, though, we didn’t have a Steamer projection for him at the time, and in fact, we didn’t have one for him until yesterday, when Jared Cross finished running his forecasts for international players. And so, starting today, we’re officially displaying a projection for Thames here on the site. And it’s a pretty good one.
| 12:01 |
: Happy 2017 everyone.
|
| 12:02 |
: For Christmas, my son got me pneumonia, which was very thoughtful of him, and I’m not entirely back to full speed yet, so we might not make it the full hour today, but we’ll see how it goes.
|
| 12:02 |
: What’s more likely to happen: Bautista signing with the Jays or waiting until after the draft to sign?
|
| 12:02 |
: Signing with the Jays, by a lot. They need him, he needs them.
|
| 12:02 |
: Why haven’t the Yankees or Pirates worked out a trade to get me?
|
| 12:02 |
: Well the asking price is pretty high.
|
To this point, the Blue Jays’ winter hasn’t really gone as they had hoped. The team made a strong push to re-sign Edwin Encarnacion right out of the gates, but when he turned down a reported $80 million over four years in order to test the market, they decided that they needed to make sure they didn’t get left without an alternative option, and so they pounced on the worse-but-cheaper Kendrys Morales, giving him $33 million over three years instead.
When the news leaked, I explained why I wasn’t a big fan of the signing.
With Edwin Encarnacion and Jose Bautista, the Jays have two DH-type players that they could have signed to much more lucrative long-term deals, but Morales presents a much cheaper option, giving the team the flexibility to spend the extra $40 or $50 million on an outfielder, bullpen upgrades, or both. Instead of putting their money into one better player, the Jays look like they’re again going to bet on depth.
In general, I think that plan can often work out, especially if you have some serious holes on the roster that need addressing, as the Jays do. In practice, though, I’m not sure if I’m as excited about spending $33 million on Kendrys Morales as part of a spread-things-around approach.
…
So, yeah, $33 million for the age 34-36 seasons of a decent hitter who can’t run seems like not a great use of funds to me. The team could still make this plan worthwhile if they spend the savings on a quality regular or a couple of good role players, but Morales himself just isn’t that good.
By giving Morales just a portion of what the team had allocated for Encarnacion, the Jays should still have some money to spend in order to round out the roster. Just the difference between their DH offers total $47 million, which should be enough to get them an upgrade (or two) over Ezequiel Carrera and Melvin Upton in the outfield. Of course, you won’t get a superstar for that kind of money — Josh Reddick got $52 million, for reference — but there’s at least enough money left to make the decision to not let Encarnacion’s market play itself out look a little less awkward.
After all, it’s easy to crush the Blue Jays for giving Morales $33 million when Encarnacion ended up signing for $60 million, but that is using information not available at the time to say that the Jays should have anticipated that Encarnacion’s market was going to crater. I don’t know that it was something that should have been reasonably forecasted, given his consistency, durability, and the fact that MLB teams have generally paid well for his skillset. I projected Encarnacion would get 4/$84M this winter; the crowd projected 4/$90M. It’s fair to say that the Jays perhaps should not have seen Morales as a target so good they couldn’t let him get away, limiting their options in the process, but I think once Encarnacion turned down 4/$80M, they probably were correct to think that they were better off going another direction, since similar players to Encarnacion have not aged particularly well.
But right now, with Encarnacion in Cleveland on a contract the Jays clearly would have signed in a heartbeat at the start of the winter, the series of decisions that led to this point are easy to take issue with. Sure, they have some money to spend, but they now have a worse old DH, a 1B platoon of a bad player and a frequently injured guy, and they still haven’t found any corner outfielders. On January 3rd, this all doesn’t look great.
But in looking forward, I wonder if this isn’t actually going to work out just fine for the Blue Jays. Because, barring some unforeseen new bidder for Jose Bautista, the Jays might end up getting the better of their two star sluggers back, with perhaps enough money left over to make their team better than if they had been able to re-sign Encarnacion to begin with.
As Jeff Passan wrote recently, Jose Bautista (at his original asking price, anyway) has been essentially rejected by the league, and has found himself without any real serious suitors through the first two months of the winter, and is reportedly now open to talking about a one year deal. If he has a bounce back 2017 season and hits free agency next winter without a qualifying offer attached — the new CBA states that players can’t be offered a QO more than once in their career — he could very likely do better overall than by taking a discounted multi-year deal this winter, even though he’ll be another year older.
And a one year deal with Bautista is just about the perfect option for the Jays. For all the talk of Bautista aging and his skills declining, he just put up a 122 wRC+ in a down year, which is still pretty good. For context, the Jays have been frequently mentioned as a possible landing spot for Jay Bruce, since they tried to trade for him last spring, and as a corner outfielder with one year left on his deal, he’d fit what the Jays are looking for. Except in the best offensive season of his career (2010), Bruce put up a 124 wRC+, the only time he’s ever put up a better offensive season than what Bautista did last year. A broken-down, playing-through-injury Bautista was basically as good a hitter as Bruce at his absolute best.
If the Jays can really get Bautista for something like $20-$25 million on a one-year deal, they’ll likely be better off than if they had re-signed Encarnacion and traded for Bruce (or someone of his ilk) to fill the hole in RF. The Jays were never going to bring back both of their star sluggers, so if they had landed Encarnacion at that $20 million a year price tag, the replacement outfielder would probably have ended up being roughly equal in price and value to Morales. Landing Bautista for something close to the Encarnacion salary for 2017, without the multi-year commitment on the more expensive player, would give the Jays similar expected performance without nearly as much long-term risk.
While his poor-for-him 2016 season and the league’s muted interest in his services might help push the narrative that Bautista is reaching the end of his career, both ZIPS and Steamer see Bautista as roughly a +3 WAR player next year, with similar offensive projections as Encarnacion. While reasonable people could certainly prefer Encarnacion, and it’s fine to wish the team had gotten him for the 3/$60M that Cleveland ended up paying, it’s hard to argue that Bautista at 1/~$20M is not an even better option. Even if it’s closer to $25 million, that’s still a reasonable price for a high-level hitter.
And then, with another year of information about how well his body is actually holding up, the Jays could decide whether to keep him in Toronto for the end of his career, or allocate that significant chunk of their budget elsewhere next winter; an option they would not have had if they had re-signed Encarnacion.
Right now, it’s easy to look at the Jays’ winter and say that they should have done things differently. And some of us were even saying that the Morales signing was questionable when it happened, not just after Encarnacion’s price ended up coming down. But whether by good fortune or because they anticipated that Bautista might have a tough road in free agency, the Jays might end up in a better position for both 2017 and long-term than if Encarnacion had taken their original offer. If they get Joey Bats back on a one year deal, we might still question some of the decisions that got them to this point, but the end result might just be better than if they had gotten their way from the start.
The Dodgers want Brian Dozier, the Twins terrific second baseman. The Twins, rightfully so, want a lot for an excellent player due just $15 million in total over the next two seasons. Based on public reports, the two sides have agreed that young RHP Jose De Leon would go to Minnesota if a deal gets done, with the current stalemate surrounding what else the Dodgers would have to add to De Leon to get the Twins to make the swap. But while the Twins should obviously extract as much as they can from Andrew Friedman, they’d probably also be wise to not pass up the opportunity to acquire De Leon, since this might be their last chance to get him for a while.
| 12:02 |
: Happy Wednesday, everyone. This is my final chat of 2016, as I’m traveling back east for Christmas, so let’s have a fun send off to a pretty lousy year.
|
| 12:03 |
: But a lousy year that gave us a fun postseason, at least.
|
| 12:03 |
: How do player options work? Can a minor league player only be sent up and down so many times?
|
| 12:04 |
: They really should just call them option years. A player can be optioned within a season as many times as the team wants, but they can only be optioned to the minors, without their consent, in three different years. There’s an exception that can get you a fourth option year, but it’s fairly rare.
|
| 12:04 |
: What is the point of giving up any assets at all for Clay Bucholz? Does this indicate the Phillies don’t trust Thompson/Eflin/Appel? For a team at their stage of a rebuild, shouldn’t they be giving innings to prospects on the cusp on the big leagues, even if those prospects struggle?
|
| 12:06 |
: MLB has mad it more difficult to turn current dollars into future value, so now large revenue teams like PHI can do that by taking on contracts that other teams don’t want, then hoping their value goes up and trading them for prospects later. If Buchholz has a decent half season in Philly, he’ll be traded to a contender in July, and the team will either have spent $7 million to acquire whatever prospects they can get for Buchholz then, or they can pay down the remainder of his contract and buy even better prospects for $10 million or whatever.
|
The White Sox are blowing it up, having traded Chris Sale and Adam Eaton in blockbuster deals on back-to-back days at the Winter Meetings. They are almost certainly not done, with other attractive veterans like David Robertson and Todd Frazier as trade chips, either this winter or before the summer trade deadline. But for teams looking for make a bigger splash, the White Sox have one more big trade to make, as they haven’t yet moved Jose Quintana, one of the game’s best pitchers, and a guy who is signed for four more years at bargain prices.
And for a while now, whenever anyone asked where I thought Quintana would end up, I would name the Houston Astros as the best fit. The Astros already have a very good team, but they’re a step below the best teams in baseball, and adding a frontline pitcher like Quintana seems like a way for a team with a strong young core to solidify their status as contenders both this year and for the future. Quintana’s modest salary would not prevent them from keeping any of their young stars in Houston, and since he’s around for the next four years, they could justify giving up some of the valuable young talent for which they might not have room.
The Astros have the means to get Quintana, and as a contender who could use an upgrade to keep up with Boston and the big boys in the National League, it’s not that hard to make a case for why they should push hard to land Chicago’s other ace. But the more I looked at the Astros roster, the more I began to wonder whether Houston really needs Quintana after all.
Relievers are the hot new thing, you might have heard. Aroldis Chapman and Kenley Jansen got north of $80 million, plus opt-outs. Mark Melancon got $62 million, plus an opt-out. Mike Dunn got $19 million. Mike Dunn! Perhaps nothing says reliever inflation more than Mike Dunn getting $19 million. Or maybe that just says he signed with the Rockies, and the Rockies are weird. But Colorado bizarreness aside, good relievers aren’t cheap anymore.
Well, unless they’re good in a really weird way, anyway.
When MLB and the Player’s Association agreed to the terms of a new CBA, the most substantial changes came in the rules governing the acquisition of players from other countries. The replacement of the bonus pools with a hard cap on bonus allocations was the big story, but, pretty quickly, people realized that a smaller change — raising the age of players exempt from the bonus pool system from 23 to 25 — could have a major impact on one of the world’s best players.