Declined Options Reflect Chilly Market and Short Season Struggles
Between the end of the World Series on October 27 and the arrival of the Qualifying Offer deadline on November 1, players and teams finalized a whole bunch of decisions on whose options to pick up and whose to decline. As we’ve noted in a few places throughout this site — Craig Edwards’ FanGraphs Audio discussion with Meg Rowley about Kolten Wong, Ben Clemens’ piece on Charlie Morton, and my own roundup of the Qualifying Offers — the set of decisions points to a bleak winter for players, as the loss of revenue due to the COVID-19 pandemic is causing cutbacks in payroll and other areas. That said, a whole bunch of players lost their jobs because they underperformed drastically in a short season ahead of an unforgiving market.
Via the data provided by Jason Martinez, who runs our RosterResource section, 34 out of the 40 players with at least six years of service time and either a club option or a mutual option had those options declined by their respective teams this past week. That count excludes both players who were released in-season and thus had their options automatically declined (such as Jake McGee and Bryan Shaw), as well as players who still have arbitration eligibility remaining (such as Domingo Santana). Of the six players whose options were picked up, only three were for salaries of more than $5.5 million, namely the Marlins’ Starling Marte ($12.5 million), the Cubs’ Anthony Rizzo ($14.5 million), and the Yankees’ Zack Britton ($14 million, but for 2022 in a mechanism that effectively turned his ’21 salary of $13 million into a mutual option as well). Eighteen of the declined options were for 2021 salaries of $10 million or more, and another seven were for at least $5 million. In other words, this subset of players with club or mutual options of $5 million or greater went 4-for-28 in having those options picked up, if we’re counting Britton.
By comparison, using the same parameters, 33 out of 43 club or mutual options were declined by teams last year, a count that doesn’t include the two mutual options declined by players who went on to sign four-year deals elsewhere (Yasmani Grandal and Mike Moustakas). Of the 10 club options picked up, seven of them were by players with salaries of at least $9 million: Rizzo ($14.5 million), Marte ($11.5 million, picked up when he was still a Pirate), the Indians’ Corey Kluber ($17.5 million), the Twins’ Nelson Cruz ($12 million), the Cubs’ Jose Quintana ($10.5 million), the Nationals’ Adam Eaton ($9.5 million), and the Pirates’ Chris Archer ($9 million); three other players with salaries in the $5.5-9 million range had their options picked up as well. Such was the structure of these contracts that all of those players except Cruz and Quintana had club options after both the 2019 and ’20 seasons, with Marte and Rizzo the only two who had both picked up; Quintana had a similar structure following the 2018 and ’19 seasons. Read the rest of this entry »