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The idea of giving a six-year contract to a pitcher scares the dickens out of an awful lot of people. As for the idea of giving a six-year contract to Johnny Cueto? It seems all the more terrifying, given Cueto’s somewhat checkered history. But here we are, with the Giants following up on the Jeff Samardzija acquisition by signing Cueto for six years and $130 million. Before the Diamondbacks signed Zack Greinke, they were said to have offered Cueto six years and $120 million; he looks smart now for turning that down.

Absolutely, this is a six-year guarantee. For Cueto, he’s now looking at a floor of $130 million over six seasons, so it makes sense that’s how this is being reported. Yet as has become the trend, this is a deal with a player opt-out clause, two years in. The industry is seeing more and more of these, and the rest of us are still trying to figure out how to wrap our heads around them. The best I’ve seen it put: this kind of contract is a two-year deal with a four-year player option. And while, in the event of something going horribly wrong, the Giants will be stuck with a monster mistake, it looks to me like Cueto’s in line to leave after 2017. It seems like both parties want it that way.

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On Friday, the Cubs won the bidding for Jason Heyward, convincing the outfielder to come to Chicago despite offers for more guaranteed money from the Nationals, the Cardinals, and reportedly one other team, perhaps the Angels. While Chicago’s offer of $184 million over eight years is certainly a substantial amount, he apparently could have taken $200 million guaranteed by going with one of the other offers. Instead he chose the Cubs, and along with putting him on baseball’s best team in 2016, the fascinating structure of the contract Chicago gave him may end up making this deal a big win for both sides.

The case for the contract being a big win for the Cubs is easy; Heyward is a very good player who will be paid like a decent one during his time in Chicago. To this point, Heyward has put up +28 WAR in six years in the majors; for the Cubs to break even on the total guaranteed money in this deal, Heyward would have to only put up about +20 WAR over the next eight years. This is essentially the kind of performance the Cubs are paying for with this deal.

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After having typically appeared in the very hallowed pages of Baseball Think Factory, Dan Szymborski’s ZiPS projections have been released at FanGraphs the past couple years. The exercise continues this offseason. Below are the projections for the Pittsburgh Pirates. Szymborski can be found at ESPN and on Twitter at @DSzymborski.

Other Projections: Atlanta / Cincinnati / Kansas City / Philadelphia / Toronto.

Batters
Andrew McCutchen has produced between -15 and -20 fielding runs in center field over the past two seasons, according both to Defensive Runs Saved (DRS) and Ultimate Zone Rating (UZR). It’s not ideal, that, but it also represents basically all the flaws in McCutchen’s current profile. Indeed, ZiPS projects the Pirates’ center fielder to improve slightly on his WAR total this coming year in slightly fewer plate appearances.

Because his role was unclear entering 2015, Jung-ho Kang was omitted from the infield portion of last year’s Pittsburgh depth chart; this year, he’s the centerpiece of it. The algorithm in Dan Szymborski’s computer doesn’t account specifically for how Kang’s season ended with a torn meniscus and fractured tibia. What it does account for is how Kang recorded something less than a full complement of plate appearances. Projected to miss all or some of April, Kang’s projected plate-appearance total (494) seems reasonable.

The most notable weakness among the club’s positional projections appears to be first base, currently occupied by Michael Morse. It would be a surprise to find that position occupied by Morse on opening day.

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As the winter meetings drew to a close yesterday, the market for Jason Heyward heated up, and based on reports from around the game, it appears that the three finalists for his services are the St. Louis Cardinals, Chicago Cubs, and (surprisingly) the Washington Nationals. The Cardinals interest in keeping their star right fielder has been known for a while, while the Cubs have long been a rumored suitor; Heyward is the kind of player that analytically-inclined organizations are more likely to pay for, and teams don’t get a lot more analytically inclined than the Cubs right now. Besides, with a hole in center field — though Heyward could slide to right field if the team traded Jorge Soler and acquired another CF — and a young core of players poised to put the team on the brink of perennial success, Heyward makes plenty of sense for Chicago.

The Nationals weren’t really attached to Heyward much at all until yesterday, when Jon Heyman outed them as the mystery team in this chase. The team apparently jumped in on the outfielder after losing out on Ben Zobrist, and would likely slot Heyward in as their center fielder as well, creating an elite trio along with Bryce Harper and Jayson Werth. The Nationals have been looking to add another left-handed bat to their line-up, and with Michael Taylor maybe best suited for a fourth outfielder role at this point, signing Heyward is perhaps the easiest path to solving that problem while also upgrading perhaps the weakest spot on the team.

But where does he fit the best? Who needs him the most, and should be incentivized to pay the highest price? Let’s look at all three options.

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After having typically appeared in the very hallowed pages of Baseball Think Factory, Dan Szymborski’s ZiPS projections have been released at FanGraphs the past couple years. The exercise continues this offseason. Below are the projections for the Cincinnati Reds. Szymborski can be found at ESPN and on Twitter at @DSzymborski.

Other Projections: Atlanta / Kansas City / Philadelphia / Toronto.

Batters
In terms of results, Cincinnati’s 2015 season was unambiguously poor. In terms of indicators, it was much more ambiguously poor. By BaseRuns, the club ought to have won nine more games than they actually did in 2015 — and most of those potential wins appear to have been conceded by the offense. Sequencing was largely the culprit: despite producing the ninth-best park-adjusted batting line (92 wRC+) in the National League with the bases empty, the Reds recorded the very worst batting line (72 wRC+) with men in scoring postion.

Entering the 2016 campaign, the starting corps of the Reds’ offense actually appears to be quite strong. It isn’t surprising to find that Todd Frazier (624 PA, 3.6 zWAR) and Joey Votto (574 PA, 4.6 zWAR) are both projected to produce comfortably above-average seasons. But Jay Bruce, Zack Cozart, Billy Hamilton, and Brandon Phillips all profile as roughly average players, too.

Of some interest is how the Reds will manage left field. Eugenio Suarez (607 PA, 2.3 zWAR) would appear to represent a legitimate solution to the problem. There’s also Adam Duvall (536 PA, 1.7 zWAR), though, too. In both cases, the projected numbers are more optimistic than one might have otherwise supposed. Omitted from the tables below — because damn Szymborski submitted the relevant forecast as the author was shuffling off to bed — is Rule 5 selection Jake Cave. ZiPS projects Cave to slash .223/.274/.319 and record a -0.4 zWAR in just over 600 plate appearances.

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The Atlanta Braves continued dealing from their Major League roster this week, sending Shelby Miller and relief prospect Gabe Speier to the Arizona Diamondbacks for oufielder Ender Inciarte, recent No.1 overall pick Dansby Swanson and right-handed starter prospect Aaron Blair. Miller and Inciarte are relatively established big league assets. With respect to Speier, as a low-level lefty relief prospect, he was likely not a deal-breaker in trade negotiations. Let’s take a closer look at Swanson and Blair to see what exactly the Braves added to fortify their minor league system.

Swanson was drafted first overall in June, and hasn’t really done anything since to lessen his value as a high-potential shortstop. Thanks to the Trea Turner situation last year, teams are now allowed to trade draft picks after the conclusion of the World Series in the same season. In addition to being the first amateur player drafted in 2015, I recently ranked him as the top prospect in the Diamondbacks system.

Swanson offers tons of upside on both sides of the game. Defensively he played second base at Vanderbilt until switching back to his high school position at short. To me, there is no question he can stick at shortstop long term. He is an elite defender with plenty of range and arm to handle it, buoyed by strong footwork and quick changes in direction. This video from the Fangraphs YouTube page shows some of his skills in warm ups, as well as batting practice and game swings from before the draft:

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It wouldn’t be fair to say the ALDS game against the Royals was representative of the Astros’ bullpen, because that would be mean and wrong, but there was a definite lingering sense of unreliability. The Astros bullpen finished among the very best in WAR, but it was in the bottom half by WPA, and feelings mirror WPA better than anything else. Nor is this exactly a new problem — the last five years combined, the Astros bullpen is last in baseball by WPA at -22. The Mets are second-worst at -9. The bullpen hasn’t been a real strength for some time, and now the Astros’ bullpen actually matters. They’re no longer positioned to just see what sticks.

What’s the quickest way to upgrade a bullpen? Add one of the league’s true elite relievers. If he’s young and cost-controlled, all the better. Jeff Luhnow has talked a few times about wanting to diversify his group of relievers, bringing in someone overpowering. Enter Ken Giles. The Astros were circling around Giles for seemingly weeks, and now he’s about to be theirs, coming from the Phillies in exchange for Vincent Velasquez, Derek Fisher, Brett Oberholtzer, and Thomas Eshelman. In large part, it comes down to Giles and Velasquez. Giles is the proven power arm, with years of control. Velasquez is the unproven power arm, with real potential to start.

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On Tuesday night, the Diamondbacks acquired Shelby Miller to upgrade their rotation. The cost of the acquisition, however, led most people — myself included — to conclude that not only did the team pay an exorbitant cost relative to pursuing other options on the market, but that it’s not even clear that the team improved on the field for 2016, given the loss of a quality Major League outfielder in the deal. As has been the case with several other recent moves Arizona has made of late, the reaction to the deal has been extremely negative. But has it been too one-sided and over the top?

Any time the public reaction is this slanted in one direction, it’s reasonable to ask what we we may be missing. We don’t have to ascribe to the idea of perfectly rational actors in every front office to accept the fact that teams have more and better information than we do, and when there’s a big disconnect between what we see and what they see, we should at least consider the possibility that they know more than we do. And when we look back at the recent history of unpopular transactions, there’s a decent amount of evidence that the magnitude of the criticism looks a bit silly in retrospect.

The most obvious comparison to this kind of prospect-for-pitcher trade backlash is the James Shields trade; in the aftermath of that deal, my post about the trade began “Royals Mortgage Future to Be Mediocre in 2013.” And while the Royals did indeed fail to reach the postseason in their first year with Shields, he helped them make a World Series run in 2014, and then they managed to win the whole thing this year, capping off a strong three year run that has revitalized baseball in Kansas City. With the benefit of hindsight, I certainly could have been a bit more nuanced with my opinion on that trade.

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With the title of this post, I have given myself an admittedly difficult task, given most comments about this trade since it went down. Arizona traded two top-100 prospects, including one player in the top 25 (at least), as well as a proven major league outfielder in exchange for a somewhat inconsistent pitcher, albeit one coming off a three-win season and with three more years of control. For the most part, everybody is beating up on the Diamondbacks — and for good reason: we don’t know the internal valuations the Diamondbacks possess on their own players and players outside their organization, but there is a general consensus that whatever those valuations are, they do not match up the rest of baseball. As a result, they have undersold their assets compared to the rest of the market. If we take out the external valuations of players like Dansby Swanson, Aaron Blair, and Ender Inciarte, can we make a case that, internally, the decision might have been sound?

What I am trying to get at is this: the trade value on the open market for Dansby Swanson, Aaron Blair, and Ender Inciarte is much greater than one Shelby Miller, but if you are the Diamondbacks and presented one choice and one choice only, how do we get to a spot where you choose Shelby Miller over Dansby Swanson, Aaron Blair, and Ender Inciarte?

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As everyone reading this is by now undoubtedly aware, Monday’s proposed blockbuster trade that would have sent Aroldis Chapman from the Cincinnati Reds to the Los Angeles Dodgers is on hold, following reports that the star closer was allegedly involved in a domestic incident with his girlfriend back in October. Although the Reds remain free to trade Chapman pending Major League Baseball’s investigation of the incident under the league’s new domestic violence policy, the market for Chapman is reported to have predictably dried up as teams wait to learn what type of punishment the pitcher will face.

It remains unclear how much, if anything, the Reds knew about the allegations against Chapman prior to Monday’s media reports, or if the team took any steps to notify potential trade partners of the incident. Nevertheless, the episode has raised questions regarding the extent to which teams are expected to disclose unfavorable information of this sort to one another during trade discussions.

As is so often the case, this is an area in which MLB operates a bit differently than most other industries.

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