On Saturday, the Padres announced a seven-year extension with two-time All-Star Jake Cronenworth, a deal that will begin next season and is valued at $80 million over what would have been his final two years of arbitration and first five of free agency. For Cronenworth, a relative late-bloomer (at least among the crowd that goes on to sign $80 million contracts) who didn’t debut in the majors until he was 26 years old, it’s a day he admits he couldn’t have seen coming two or three years ago before distinguishing himself with a solid COVID-shortened rookie season, consecutive 4-WAR campaigns in 2021 and ’22, and a postseason resume that includes the hit that sent the Dodgers home last October.

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It’s also likely the only way that Cronenworth was going to find himself with a deal of this size and length in his career. While a younger player might be hesitant to sign an extension and surrender an opportunity at free agency, Cronenworth is already 29, and this contract buys out five free-agent years he would have been selling at the age of 32. During the last four offseasons, the only players to sign five-plus-year deals at the age of 32 or older have been DJ LeMahieu in 2021 (coming off consecutive top-five MVP finishes) and Freddie Freeman in 2022 (coming off four straight top-ten MVP finishes) — which is to say, it isn’t easy.

For the Padres, it’s the latest in a series of long-term commitments to core members of their current club: Fernando Tatis Jr., Manny Machado, Yu Darvish, Joe Musgrove, Robert Suarez, and now Cronenworth. Despite handing out all those extensions, San Diego has left enough on the books (or maybe just set those books on fire) to bring in Xander Bogaerts, Michael Wacha, Seth Lugo, Matt Carpenter, and familiar face Nick Martinez. It’s a combination of the Braves’ readiness to commit to players within the organization who have proved to be a good fit and the Mets’ willingness to go longer and deeper into their pockets than their market competitors.

How has that worked? In the short term, it’s enough to give the Padres our second-highest odds of winning the World Series and make them the title favorite of our staff. The long term is a question mark, but find me a fan who wouldn’t want to spend a half-decade with the above group, not to mention MVP favorite Juan Soto, whose name you have to assume is at the top of the to-do list on A.J. Preller’s office white board. Read the rest of this entry »

Last year, Andrés Giménez enjoyed quite a breakout season, helping to lessen the sting of the Francisco Lindor trade by emerging as one of the top second basemen in the game. He made his first All-Star team, won his first Gold Glove, and helped the Guardians win the AL Central for the first time since 2018. Now, the team has guaranteed that he’ll stick around for a good long while. On Tuesday, ESPN’s Jeff Passan reported that Giménez has agreed to terms on a seven-year, $106.5 million extension that also includes an option for an eighth season.

The full details of the contract have not yet been reported, but the deal appears to cover the 2023-29 seasons, with a $4 million signing bonus and a $23 million club option for 2030 that comes with a $2.5 million buyout. Via as-yet-unspecified escalators, that option can increase to $24 million (note that Passan has reported the option year as 2031, meaning that the guaranteed portion of the deal wouldn’t begin until next season). At its maximum, the extension could pay Giménez $128 million over eight years, his ages 24-31 seasons.

The guaranteed portion of the contract is the second-largest in team history after José Ramírez’s five-year, $124 million extension signed last year. The extension is the latest manifestation of what has practically become a Cleveland tradition, one that traces back to the rebirth of the franchise. In the mid-1990s, general manager John Hart pioneered the practice of signing young stars such as Sandy Alomar Jr., Carlos Baerga, Manny Ramirez, Jim Thome, and Omar Vizquel to extensions that ran through at least some of their arbitration years and kept them in the fold when they would have hit free agency. It’s a strategy that enabled the team to save millions of dollars while maintaining a competitive nucleus, and one that has become popular with several other teams, most notably the Braves (for whom Hart served as president of baseball operations from late 2014 to late ’17). Long after Hart left Cleveland, successors Mark Shapiro and Chris Antonetti continued to sign players such as Ramírez, Michael Brantley, Travis Hafner, Jason Kipnis, Corey Kluber, Carlos Santana, and Grady Sizemore to deals along those lines.

That’s an incomplete list of players who went this route, but it never included Lindor, who went year-to-year during his arbitration years until the team decided it couldn’t afford him at a full market price. On January 7, 2021, Lindor and Carlos Carrasco were traded to the Mets in exchange for the then-22-year-old Giménez, shortstop Amed Rosario, outfielder Isaiah Greene and righty Josh Wolf.

Giménez had hit an impressive .263/.333/.398 (105 wRC+) in 49 games with the Mets during the pandemic-shortened 2020 season, but he struggled in his first year with Cleveland, batting .218/.282/.351 (74 RC+) in 68 games sandwiched around a detour to Triple-A Columbus that lasted nearly three months. He did hit much better after returning (.245/.320/.382, 94 wRC+) than before (.179/.226/.308, 43 wRC+) even if he didn’t actually make better contact. As I noted last fall, he held his own after returning despite lacking a consistent approach at the plate. “Last year [2021] he’d deviate after like a bad game,” manager Terry Francona told the Akron Beakon Journal’s Ryan Lewis in May. “You’d have different stance, you have a leg kick you didn’t have, you get a toe-tap.”

Guardians hitting coaches Chris Valaika and Victor Rodriguez helped Giménez ditch the leg kick, which they felt was hindering his pitch recognition and his timing. He fared better against every major pitch type in 2022 than ’21, and overall batted .297/.371/.466 with 17 homers and 20 steals. His 140 wRC+ finished in a virtual tie with Rafael Devers and Carlos Correa for eighth in the AL (one point ahead of Ramírez) and among second basemen of either league trailed only Jose Altuve and Jeff McNeil. On the other side of the ball, Giménez’s 16 DRS, 9 OAA and 6.5 UZR each ranked second among all second basemen, and overall, his 6.1 WAR tied Xander Bogaerts for fifth in the AL, and among second basemen trailed only Altuve. That’s some fine company.

Giménez’s performance included a few areas of concern, notably a 40.8% chase rate, 6.1% walk rate, and Statcast contact numbers (87.8 mph average exit velocity, 6.2% barrel rate, 37.6% hard-hit rate) that placed only in the 29th–36th percentiles. Thanks in part to his 94th-percentile speed, he was nonetheless one of the majors’ most productive hitters on groundballs, ranking among the top half-dozen in both batting average and wRC+:

As noted last fall, hitters combined for a .235 AVG and 35 wRC+ on grounders; based on that, Giménez netted an extra 17 hits, without which he’d have finished with a .263 AVG and .433 SLG, much closer to his expected numbers.

While I do wonder about the sustainability of that aspect of his game, in all, that’s a pretty impressive showing for a 23-year-old. In fact, it’s one of the best age-23 seasons of the past decade:

Again, fine company even given the presence of a few players who have flamed out; Bellinger and Bryant have both dealt with a series of injuries, while Puig’s decline has been an ugly mixture of on- and off-field issues. The book isn’t closed on any of the above players, but several are Cooperstown bound. It’s worth noting that the two other Cleveland players on the list have turned out quite well, and that Giménez’s 140 wRC+ is actually higher than all of the other non-first base infielders — even those who out-homered him by a significant margin.

Because Giménez spent so long in the minors in 2021, he’s accrued only two years and 106 days of major league service time, 66 short of reaching three full seasons (which would have made him eligible for free agency after the 2025 season) and 22 short of becoming an arbitration-eligible Super Two. Thus, his contract for 2023 was among the 28 the team recently renewed; most of those salaries haven’t even been published yet, but Giménez was only set to make $739,400. The $4 million signing bonus bumps him up to something closer to what a star-caliber player in his first year of arbitration eligibility might make. For example, Bichette, who’s heading into his age-25 season with 3.063 years of service time, is making $2.85 million in salary plus a $3.25 million signing bonus as part of his three-year, $33.6 million extension, while the Padres’ Jake Cronenworth, who has exactly three years of service time, is making $4.225 million coming off back-to-back 4.1-WAR seasons. Had he reached three years, Giménez might be somewhere in that ballpark.

Via Dan Szymborski, here’s Giménez’s projection through 2030, the year with the club option:

Even with some regression to 4.5 WAR per year at his peak, the ZiPS contract projection for Giménez if he were a free agent comes to a whopping $287.2 million, which is more than Bogaerts received from the Padres as a 30-year-old free agent (and spread out over 11 years, at that). Even with the expected discounts for his arbitration years, Giménez projects to be worth $139.5 million through 2029, and $170.8 million through ’30; through that lens, this looks like a rather club-friendly deal. It’s not an out-and-out steal the way Ramírez’s five-year, $26 million deal for 2017-21 — over which the third baseman produced 28 WAR, made three All-Star teams and finished in the top three in AL MVP voting three times — turned out to be, but it’s clear that Giménez traded some risk for financial security. If he’s still even close to being a three-win player in 2030, he’ll stand to make tens of millions more, though he’s unlikely to approach the windfall he might have reaped if he’d spent all of 2021 in the majors and hit free agency after 2025, his age-26 season.

All of which is to say that this is A Very Guardians Deal, and while we can again bemoan the salary structure that prevents players short of six years of service time from getting anything approaching their full market value, it takes two sides to tango. And we shouldn’t be surprised if at least a couple more extensions follow in short order. Via The Athletic’s Zack Meisel, the team is in “advanced negotiations” with multiple players including Rosario, Triston McKenzie, Steven Kwan, and Trevor Stephan, hoping to complete extensions by Opening Day (Stephan’s is reportedly nearing completion). Meanwhile, Emmanuel Clase (five years, $20 million) and Myles Straw (five years, $25 million) signed such deals last spring, albeit at a scale much smaller than that of Giménez. If some of those extensions come though, they’ll probably increase the team’s payroll — estimated at around $90.7 million even with several of those aforementioned extension candidates’ salaries unknown — by a few million dollars. They’re still likely to rank among the bottom third of the 30 teams, even while contending for another AL Central title or at least a playoff spot. This approach has worked for the Guardians before, and at least in terms of establishing generational wealth for Giménez, it will work for him as well.

The Cardinals have put themselves in a bit of a bind. They take sustainability seriously, building to compete both now and tomorrow. They never rebuild, never go all in, and always balance the present and future responsibly. If your goal is to win forever, you have to think about more than just the next year when you make a decision. For all that focus on long-term planning, though, they have a lackluster rotation, and it’s slated to get a lot worse after this year.

Of St. Louis’ top five starting options, only one, Steven Matz, came into the spring under contract for 2024. That might not be a problem if there were a heaping helping of starting pitching prospects knocking on the door to the major league clubhouse, but there aren’t. Gordon Graceffo isn’t far off, and if you’re willing to do a lot of projecting, Tink Hence might be major league ready before too long, but the up-and-down fifth starters and swingmen with live arms that other teams use to bulk up their starting rotation in times of need don’t really exist here.

Now, the Cardinals have two starters under contract for 2024 after signing Miles Mikolas to a contract extension that will pay him $40 million for the 2024 and ’25 seasons, as Derrick Goold first reported. That doesn’t exactly create a complete 2024 starting rotation, but it’s twice as many pitchers as St. Louis had before last Friday. Bam, problem solved! Read the rest of this entry »

If you had to guess which teams would be doling out eight-year deals this winter, the Nationals probably wouldn’t have made the top of your list. Yet on Friday evening, they came to terms on just that: an eight-year extension. The recipient, equally surprising: Keibert Ruiz. The pact is worth $50 million and comes with two club options that could keep the young catcher in Washington through 2032. Full financial terms of the contract have yet to be revealed, but it comes with a signing bonus and is reportedly front-loaded, giving Ruiz a substantial raise for the upcoming season.

In both length and value, this is one of the largest extensions ever given to a player with fewer than two years of service time. Other players to sign similarly large deals with such little MLB experience include Michael Harris II (this past August), Ke’Bryan Hayes (this past April), and Corbin Carroll (this past weekend). Harris and Hayes, though, had longer and/or better track records, and Carroll is an uber-prospect with superstar potential. Ruiz had a fine season in 2022, but he’s yet to demonstrate he can be more than an average player at the big league level. Read the rest of this entry »

Spring is for extensions. As surely as swallows flock to Capistrano or salmon charge upstream, major league teams spend February and March offering their young stars sackfuls of money in exchange for years of team control. Sure enough, the Diamondbacks and Corbin Carroll followed the path of least resistance over the weekend in agreeing to an eight-year deal worth $111 million, with a ninth-year option for $28 million and $20 million in various contract incentives.

That sounds like a lot of money. Carroll, after all, has only played 32 games in the major leagues and has accrued only 772 professional plate appearances. But do the math, and you can see why Arizona offered this deal, and also why Carroll accepted it.

Carroll isn’t some random recent debut. He’s the number two prospect in baseball, a power-contact-speed-and-defense threat who has dismantled every level of competition he’s faced. That includes the major leagues; that 32-game debut saw Carroll hit .260/.330/.500 with superlative baserunning and defense. He looked like an All-Star right away, and truthfully, he’s always looked like an All-Star. That’s how you end up as the number two prospect in baseball as a 5-foot-10 outfielder so quickly despite missing nearly two consecutive seasons of playing time thanks to the pandemic and then injury. Read the rest of this entry »

The speculation about Padres third baseman Manny Machado exercising his opt-out clause after the 2023 season came to a stunning conclusion over the weekend, as club and superstar agreed to an 11-year, $350 million contract. The new deal rips up the final six years of the contract that Machado signed before the 2019 season.

If nothing else, tally one team that is apparently not concerned with the short-term hiccups in baseball’s revenues due to the Bally/Diamond bankruptcy; the Padres are one of the teams with a regional sports network (RSN) that is affected. If revenues are up in the air, they have made sure that third base certainly is not, following an extension that will also keep Yu Darvish in town for all or most of the rest of his career. The Padres aren’t trying to be the Rays, the scrappy underdogs that hunt very large game with a sharpened stick; they’re trying to go toe-to-toe with the Dodgers at their own game. This is less David versus Goliath and more M. Bison versus palette-swapped M. Bison in “Street Fighter II.”

My colleague Jay Jaffe covered a lot of the particulars about the Manny situation in San Diego last week, so I’m going to skip the exposition. I think Jay and I both underestimated just how motivated the Padres were to ensure Machado stayed in mustard-and-brown for a long time. We had a ZiPS projection in that piece, but now that we know where he will play and for how long, I ran a new projection.

Let’s just say that ZiPS isn’t overly enthusiastic about the contract, valuing Machado’s future services at $181 million over 11 years. He is a superstar, but there’s a big difference between signing a player before their age-26 season and their age-30 season. Just to illustrate, here’s the projection a second time, but with Machado the age he was when he signed his initial deal with the Friars.

That’s a valuation over $400 million, a notable difference! The sad truth is that even for superstars, the 30s are more often than not a tale of significant decline. Just to illustrate, here are all non-active position players worth between 41–51 WAR through age 29 (Machado is at 46.6) and how they fared in their 30s.

ZiPS actually has Machado aging slightly better than the average player in this group, with an additional three WAR over about 1,000 more plate appearances. The three active players at the end of their careers that I chopped off wouldn’t make this any sunnier a list; none of Miguel Cabrera, Evan Longoria, or Andrew McCutchen have aged particularly well.

Some of the decreased projection is due to the fact that Machado is no longer a defensive star at third base as he was earlier in his career. Defense doesn’t decline as rapidly as people think at the non-speed positions, and the fact that Nolan Arenado’s glove has stayed quite steady gives him kind of a fallback position if his bat declines. Machado no longer has that luxury.

Despite my grumpiness as an analyst who inevitably has to play devil’s advocate, let me emphasize that I’m certainly not shedding any tears for the pocketbooks of team ownership. While speculating what the Padres’ analytics gang has for Machado over the next 11 years would be a wild-ass guess, I know enough to know that ZiPS does not generally give projections that are grossly different from ones that teams run internally. The team’s ownership group, led by Peter Seidler, was no doubt given all the information the team had internally of this type and is also aware of the revenue situation, his personal net worth, and the fact that the big jump in baseball’s luxury tax threshold from 2021 to ’22 is much, much smaller in subsequent seasons of the CBA. They take this risk with the eyes wide open.

Even as a risk, it’s hard to dislike this signing as a fan of baseball. It’s refreshing to see owners who want to keep their teams together, who prioritize putting the best team on the field right now, and who directly challenge another of baseball’s elite franchises. Baseball’s system of playoffs and revenue sharing incentivizes just sneaking into the postseason every year, and if I worked for a team, I’d recommend the same cynical view that is prevalent among franchises. So it’s nice to see a team with a little more ambition, one willing to be happy with the increases in team value rather than also requiring a healthy profit every season to boot.

There remains a big unanswered question in the form of Juan Soto. Keeping him may cost $40 million a year, and I now have to wonder just how far San Diego’s willingness to spend will stretch. Are the Padres really willing to already be at $200 million for 2025–27 with two starting pitchers under contract? The farm system has nowhere near the depth that it had a few years ago, after all; ZiPS had no Padres prospects in its Top 100. While our prospect team placed two, the farm system ranked 26th at the end of last year, and though the new rankings aren’t out yet, I can’t imagine they’ve moved up a ton. But we’ll worry about Soto later.

By signing Machado, the Padres have signaled that they’re here to win now, and that the current aggressive spending isn’t just the apogee between the fire sales that have peppered San Diego’s franchise history. They’re going after the Dodgers on their own turf, and that’s pretty cool. Now the win now team just has to do the hard part and actually win now.

Depending on what your expectations were for the 2022 postseason, you likely saw Cristian Javier as the third or fourth starter for the Astros entering October. Dusty Baker agreed, as Javier didn’t get a start until the ALCS against the Yankees. But Javier clearly had different plans. When given the chance, he was dominant: in 12.2 innings, he pitched to a 0.71 era; in his two starts, he gave up a single hit across 11.1 innings facing the imposing lineups of the Yankees and Phillies. That performance plus his 3.4 fWAR in 148.2 regular-season innings put him on the map as one of the league’s best young pitchers. And last week, the Astros rewarded him as such by handing him a five year, $64 million extension.

After Houston announced the hiring of long-time Braves scouting executive Dana Brown as the team’s new general manager, I wondered if he would bring along his former organization’s tendency to extend players into their would-be free-agent years. It didn’t take long for that idea to come to reality. Javier was set to enter his three arbitration years in his age 26–28 seasons; those years have been bought out with salaries escalating from $3 million in 2023 to $7 million in ’24 and $10 million in ’25. His age-29 and 30 seasons will come at the price of $21 million per year, with an opportunity to escalate it from $500,000 to $2 million per year if he finishes at or near the top of the Cy Young ballot.

Even with free-agent departure after free-agent departure, Houston’s rotation remained strong due to the development of Framber Valdez and now Javier. But with the departure of Justin Verlander, the rotation looked like it was finally hitting a point of potential vulnerability. Extending Javier, then, provides the Astros some semblance of certainty beyond 2025. And with their entire starting lineup other than Martín Maldonado locked up through at least ’25, they needed to invest in their rotation. Read the rest of this entry »

As the Blue Jays attempt to build upon last year’s 92-win season — their best since 2015 in terms of won-loss record — they’ve locked up one of their young, homegrown stars. Earlier this week, Sportsnet’s Ben Nicholson Smith reported that the team had agreed to a multiyear extension with Bo Bichette, thereby avoiding what could have been a contentious arbitration hearing. The terms of the deal were unclear at the time, but on Thursday, The Athletic’s Ken Rosenthal reported that Bichette will receive a three-year, $33.6 million guarantee, with escalators and incentives that can increase the total value of the deal to as much as $40.65 million.

Via the Associated Press, Bichette is guaranteed $6.1 million this year ($3.25 million as a signing bonus and $2.85 million in salary) and then $11 million in 2024 and $16.5 million in ’25. Winning an MVP award would increase his next salary by $2.25 million, while finishing second or third would add $1.25 million, and finishing fourth or fifth would add $250,000. The extension buys out all three of his arbitration years — his age-25 through 27 seasons — without delaying his free agency, as he enters 2023 with three years and 63 days of service time. Without the deal, he and the Blue Jays would have headed into arbitration with the two sides as far apart as any in the majors this year. According to MLB Trade Rumors, the $2.5 million gap between the filings of Bichette ($7.5 million) and the Blue Jays ($5 million) matched that of the Astros and Kyle Tucker; Houston won that hearing on Thursday.

Bichette is coming off a very good season, albeit something of an inconsistent one. He set a full-season high with a 129 wRC+ via a .290/.333/.469 line with 24 homers and 13 steals. His 4.5 WAR tied with Corey Seager for 14th in the American League and second among AL shortstops behind Xander Bogaerts, 0.1 WAR ahead of Carlos Correa. That said, his season was an uneven one that exposed concerns in several areas of his game. He hit just .213/.237/.298 (50 wRC+) in April and .257/.302/.418 (105 wRC+) through the first half — missing the AL All-Star team where he made it in 2021 — before batting .337/.378/.543 (163 wRC+) in the second half, capped by a .406/.444/.662 (217 wRC+) September. Fourteen of his 24 homers came before the break, but so did 100 of his 165 strikeouts; he trimmed his K% from 24.3% before the break to 19.2% after. Read the rest of this entry »

The modern game of baseball is defined by power and strength. You can turn on any game at any time and watch a guy swing his behind off as he launches a 100 mph fastball 450 feet. Of course, that wasn’t always so common — a lot of players used to swing for contact instead of the fences. Today, that skill set is more of a rarity, though there are still a few hitters who choke up on the handle and spray the ball from line to line. Jeff McNeil is perhaps one of the best in this category. Fresh off a batting tile, McNeil was due for a raise in arbitration. Instead, he and the Mets agreed to a four-year, $50 million extension.

The deal buys out McNeil’s two remaining arbitration years and two potential free agent years, taking him through his age-34 season. There’s also a $12.5 million club option for the 2027 season, giving the extension a chance to max out at five years and $62.5 million. On the surface, that seems like a bargain for a player coming off a 5.9 WAR, 143 wRC+ season that also saw him play the best defense of his career according to OAA. However, the free agent market doesn’t tend to be particularly generous to players who are over 30 or rely on contact as much as McNeil does. I asked Dan Szymborski if he could cook up a ZiPS estimate for a McNeil extension and as it turns out, the contract he signed isn’t as much of a bargain as I initially suspected. Including the discounts for the two cost-controlled arbitration years, ZiPS would have offered McNeil a five-year, $69 million extension. That is only $6.5 million more than the maximum the Mets offered when you include the club option. Dan also provided me with McNeil’s projected performance for the life of the contract:

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The Rays are infamous for running a tight ship payroll-wise, and because arbitration salaries are usually higher than rookie ones, they tend to trade arbitration-eligible players for younger, more cost-controlled talent. Then those new contributors develop into solid major leaguers, who become arbitration-eligible and therefore trade-eligible… and the cycle continues.

Yet the Rays have been good despite this. A major flaw in the described rinse-and-repeat style of roster management is that it depends on a regular influx of talent; without legitimate prospects in the farm system, you’d simply be making the big league squad worse, one trade at a time. Of course, the Rays are also known for their scouting and player development acumen, churning out viable big leaguers at a rate that, compared to other organizations, seems supersonic. But this too isn’t foolproof: Even if you run a supposedly smart front office, there’s a good chance that you’ll be wrong about a prospect or a trade acquisition more often than you’re right. That’s just how baseball works; you find yourself fighting to minimize risk, not to maximize return.

So really, the best option might be to avoid this conundrum in the first place. A good way to do that is to lock up your fresh-faced stars to contract extensions, à la the Braves of recent years. I don’t know if the Rays are following in Alex Anthopoulous’ footsteps, but they do seem to have become more open to the idea of making multiple multi-year commitments. As our Chris Gilligan covered, they recently signed Jeffrey Springs to a four-year contract extension with a club option for a fifth year. But the Rays weren’t done, as Jeff Passan reported last Friday:

Reliever Pete Fairbanks and the Tampa Bay Rays are in agreement on a three-year, $12 million contract extension, sources tell ESPN. Deal includes a fourth-year club option and comes off a year in which Fairbanks finished with 22 scoreless IP.

— Jeff Passan (@JeffPassan) January 27, 2023

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