Putting a Value on the Future of Yoenis Cespedes
When Yoenis Cespedes suits up in April, he will very likely be playing for his fifth team in just over a 20-month period. His last 211 games have been split between four clubs. Some might try to use this as a reason to undervalue Cespedes in free agency and argue that three, perhaps four, teams have given up on him of late. Those arguments tend to miss the point, as the Oakland Athletics are prone to trade anyone, the Boston Red Sox desperately needed pitching last season while also possessing a surplus of outfielders, the Detroit Tigers fell out of the playoff race, and the New York Mets are merely prone to some unusual spending limits. The market for outfielders has been slow to develop, but with Jason Heyward off the board, we should begin to see Cespedes’ market gain some clarity.
Cespedes has certainly had an unusual couple of years, although his career as a whole has hardly been typical. Most recently with the Mets, Cespedes came to the United States from Cuba and signed a four year, $36 million contract with Oakland that would make him a free agent at the end of those four seasons. Cespedes hit well almost immediately, putting up a .292/.356/.505 line along with a 136 wRC+ in his first 540 plate appearances.
In the following two seasons, Cespedes could not reproduce the 8% walk rate of his initial season, his BABIP dropped a bit, and he settled in for two seasons of slightly above-average offense with above-average defense in left field, totaling 5.7 WAR over two seasons — with the A’s for a year and a half and then half a season with the Red Sox. Last season was Cespedes’ best season since 2012: he hit .291/.328/.542 for a 135 wRC+ that included 17 home runs in just 51 games following his trade from the Tigers to the Mets. That production led, in no small way, to the Mets’ appearance in the postseason.
In trying to determine what Cespedes will look like over the next five to seven years of a new contract, finding comps using career numbers is unlikely to yield great results. Based on how Cespedes performed at age 26 with the A’s, he was clearly ready for major league baseball. Due to the constraints of Cuba’s emigration laws, however, he was denied the opportunity to play against the game’s best players. As a result, his career numbers are unique. Focusing specifically on the most recent three years, however, we can find some interesting comparable players.