Red Sox Lock Up Rick Porcello
Beating the rest of the league to the punch with a large contract extension for Rick Porcello when much better players await in free agency is not going to garner excitement or plaudits, but the Red Sox are anticipating an expensive free agent market in 2016 and providing themselves a safety net. Boston resorted to Plan B before they knew if Plan A would work, but the Red Sox can still implement Plan A and sign a big-name free agent while simultaneously providing depth for their rotation. Five years and $95 million is a lot of money for a player without a world-beating track record, but Porcello has been good and reliable and he is still just 26 years old. This contract is not all that surprising as Mike Petriello predicted a similar contract in February.
Last year, three pitchers signed extensions just a year away from free agency and one of them is apt for Porcello. Clayton Kershaw’s seven-year, $215 million contract is way too big, Charlie Morton’s three-year, $21 million contract is too light, but Homer Bailey’s six-year, $105 million contract (with an option for a seventh year) is right in the same range as Porcello. Bailey was two years older and only twice pitched over 150 innings while Porcello has exceeded that mark in six straight seasons. Bailey was coming off the better season, with around four wins in 2013, but he also received more money with greater risk of injury. According to Jeff Zimmerman’s disabled list projections, Porcello is the second most likely starter to make it through the season without a stint on the disabled list.
Even if we treat Bailey as an outlier for an extension, last year’s free agent class has a pretty close contract to Porcello’s: James Shields, who signed for four years and $72 million with the Padres. Shields has the better track record, but he’s headed into his decline years while Porcello is headed into his mid-20s. While Shields’ deal ends when he’s 36, the Red Sox have only committed to Porcello up to age-30.
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