Bryce Harper was in the news a couple weeks ago. It had nothing to do with his performance — in 2015, he hadn’t yet performed. It had nothing to do with his health — in 2015, he hadn’t yet gotten injured. It had everything to do with his words. Harper generates three kinds of stories, and this was another one about him not hiding his confidence. Harper spoke openly about how much he believes in his current cast of teammates, and while every player would claim to believe in his cast of teammates, Harper has a way of drawing extra attention, and he didn’t beat around any bushes. Harper went so far as to talk about the disadvantage of facing the Nationals’ starting staff in the playoffs.

Of course, while we like our players to be humble, it’s not like Harper was talking about anything we hadn’t already thought and said ourselves. The Nationals do seem like a juggernaut. The Nationals do seem like they should take the NL East running away. The Nationals do have a rotation that would be terrifying to face in October. Say what you will about Harper’s personality, but he just said what most people already believe. There’s no such thing as a playoff shoo-in this early in the year, but the Nationals are about as close as it gets.

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We’re in that awkward time between the true offseason, when most deals are made, and the spring, when all the Best Shape of His Life news stars flowing in. Let’s call it Projection Season, because we’re all stuck ogling prospect lists while perusing the projected numbers for the major league squads.

One of the most frustrating things about projection season can be the fact that most projection systems remain agnostic about change. Many of the adjustments the players talk about in season don’t take, or take for a while and then require further adjustment to remain relevant. So projections ignore most of it and assume the player will continue to be about the same as he’s always been until certain statistical thresholds are met and the change is believable from a numbers standpoint.

But projections do worse when it comes to projecting pitching than hitting, so there’s something that pitchers do that’s different than the many adjustments a hitter will make to his mechanics or approach over the course of a season. The submission here is that pitchers change their arsenals sometimes, and that a big change in arsenal radically changes who that player is.

Look at Greg Maddux pitching for Peoria in 1985. He’s not the Greg Maddux we know and love. Watch him throw fourseamers and curveballs. It was enough to get through the minor leagues, but, at that point, he’s barely throwing the two pitches that made him a Hall of Famer eventually.

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Yesterday, we gave you a little bit of a tease, giving you a glimpse into the making of FanGraphs Top 200 Prospect List. This morning, however, we present the list in its entirety, including scouting grades and reports for every prospect rated as a 50 Future Value player currently in the minor leagues. As discussed in the linked introduction, some notable international players were not included on the list, but their respective statuses were discussed in yesterday’s post. If you haven’t read any of the prior prospect pieces here on the site, I’d highly encourage you to read the introduction, which explains all of the terms and grades used below.

Additionally, I’d be remiss if I didn’t point you towards our YouTube channel, which currently holds over 600 prospect videos, including all of the names near the top of this list. Players’ individual videos are linked in the profiles below as well.

And lastly, before we get to the list, one final reminder that a player’s placement in a specific order is less important than his placement within a Future Value tier. Numerical rankings can give a false impression of separation between players who are actually quite similar, and you shouldn’t get too worked up over the precise placement of players within each tier. The ranking provides some additional information, but players in each grouping should be seen as more or less equivalent prospects.

If you have any questions about the list, I’ll be chatting today at noon here on the site (EDIT: here’s the chat transcript), and you can find me on Twitter at @kileymcd.

Alright, that’s enough stalling. Let’s get to this.

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Like it or not, this is the time of the year that we write about players like Casey Janssen. There aren’t a whole lot of alternatives. Janssen himself just signed on with the Nationals, to some degree replacing Tyler Clippard at the cost of $5 million guaranteed with a second-year mutual option. The Nationals aren’t expecting Janssen to be as good as Clippard. The Nationals shouldn’t expect Janssen to be as good as Clippard. There’s a reason why Janssen came relatively inexpensively. The year he’s coming off — it was a decidedly unusual year.

There’s a ready-made excuse: Janssen took a quick trip during the All-Star break, and he returned from said trip with food poisoning that cost him a told amount of weight and an untold amount of energy. We’ve all probably experienced food poisoning at some point, and though we’ve experienced varying degrees of severity, it makes sense that it takes a while to get back to feeling 100%. And Janssen didn’t have to get back to feeling 100% as a normal person; he had to get back to feeling good enough to succeed as a pitcher in the major leagues. Janssen’s first half was better than his second half. We don’t know how much the illness damaged Janssen’s statistics.

But the food poisoning might explain only part of the picture. He was fine early on, and he was fine toward the end. Physically, I mean. Yet the numbers are strange, given Janssen’s record. It’s easy to focus on the strikeouts. It’s not just the strikeouts.

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The Boston Red Sox have too many outfielders. This isn’t news; it’s been clear for a while now that their outfield is overcrowded, and while shipping Yoenis Cespedes to Detroit for Rick Porcello alleviated the problem to a degree, they still don’t have enough at-bats to go around for the guys they’re going to bring to spring training. It’s a nice problem to have, of course, but it’s still an issue that the team will have to work towards solving.

The Washington Nationals have too many starting pitchers. Well, kind of; you can never really have too many starting pitchers, since the attrition rate of guys who throw a baseball for a living is so high, but Max Scherzer’s signing does push Tanner Roark out of the initial starting five. Having a solid group of useful starters behind your starting five is important, but having Roark as your sixth starter is something of an embarrassment of riches.

The Red Sox could use a frontline starting pitcher, as Rick Porcello isn’t exactly a classic #1 starter on a team that is hoping to make a deep playoff run. The Nationals could use a long-term solution at second base, and if that guy could also provide outfield depth for 2015, that would be even better. There might not be another situation in baseball where two teams theoretically match up for a deal better than the Red Sox and Nationals. So, Misters Cherington and Rizzo, let’s make the case for a Stephen Strasburg/Mookie Betts trade.

Why Boston Should Do It

The Red Sox currently project as baseball’s fourth best team, according to our calculations, and enter 2015 as the slight favorites to win the AL East. Despite their miserable 2014 performance, this is a good roster, and one that is built to contend this season. Boston didn’t spend $190 million on Hanley Ramirez and Pablo Sandoval to move towards the middle of the pack; this team was constructed to get back to the postseason this year.

And yet, this rotation feels incomplete. I like a lot of the pieces they have, and I think both Porcello and Wade Miley were shrewd acquisitions, the kinds of solid rotation pieces that every good team needs. But these are the guys you want starting once in a playoff series, and they’re currently the team’s two best starters, with a couple of lottery tickets and a lower-upside fifth starter behind them. The Red Sox starting five feels like a fantastic middle-to-back-end of the rotation, and if Porcello-Miley-Masterson-Buchholz-Kelly were their #2-#6 starters, we’d be talking about this as a position of strength.

You don’t need an ace to win the World Series, but as Madison Bumgarner just displayed a few months ago, it sure helps. October baseball is different, and the more frequent off days allow teams to allocate a higher proportion of their innings to their best few pitchers. Having a dominant starter make two starts and a relief appearance in a seven game series gives you a distinct advantage, but the Red Sox currently lack the kind of arm that can be deployed in that way.

Stephen Strasburg could be that pitcher. Over the last three years, he’s #3 in baseball in xFIP-, behind only Clayton Kershaw and Felix Hernandez. He’s an ace with upside, and at just 26, he wouldn’t have to be a short-term rental. While he’s only under control for two more seasons, the Red Sox have the financial flexibility to sign him to a long-term deal, and getting him acclimated to Boston ahead of time may give them an advantage in the negotiations. Unlike most pitching acquisitions, Strasburg doesn’t have to be a short-term patch. This is a guy that can provide value both now and in the future.

I know they love Mookie Betts, and so do I, but as much as they value Betts’ overall skillset, the fact remains that he’s a worse fit in Boston than he is on just about any other team in baseball. Betts was considered a plus defensive second baseman in the minors, but the Red Sox have second base blocked off, forcing him to the outfield. But even center field isn’t clearly available, with Rusney Castillo and Jackie Bradley Jr still around, and so if the Red Sox keep Betts for the long-term, he may end up playing primarily right field.

Defense is important everywhere, and as Shane Victorino has shown, this skillset can still result in an impact right fielder, but there are fewer opportunities to utilize a defensive asset in right field than there are at second base or in center field. Betts doesn’t lose all of his value in right field, but he would lose some of it, especially because Victorino is still around for another year.

Right now, we have Betts projected for 385 plate appearances between second base, center field, and right field, and being a legitimate contributor to the roster as a super utility guy: his +2.4 WAR projection for 2015 would make him the game’s best 10th man. But if you reallocate those 385 plate appearances to the rest of the guys on the roster, you don’t actually lose all that much short-term value.

If you split Betts’ 210 center field plate appearances evenly between Castillo and Bradley, their projected total WAR from the position would go from +3.8 to +3.3, a half win drop. They’d lose another quarter of of a win by shifting the non-Pedroia second base at-bats to Brock Holt and a quarter of a win by sliding Daniel Nava and Allen Craig into the right field at-bats that don’t go to Victorino. So, all told, losing Betts costs them roughly one win over his actual internal replacements in 2015.

Meanwhile, Strasburg is probably a three win upgrade over Joe Kelly, especially because Kelly allows the team to use Brandon Workman as a reliever, where he has shown legitimate potential. Because every team needs more than five starters, Kelly doesn’t actually lose that much value, and many of Strasburg’s additional innings would come from guys who should probably spend a good chunk of the year in the minors.

In 2015, swapping Betts for Strasburg is probably something close to a two win upgrade for the Red Sox. It doesn’t sound like a huge difference, but the Red Sox are at the point where wins are highly valuable, and Strasburg is the kind of asset that could be leveraged to an even larger degree in October. While the upgrade is probably smaller in 2016 — with Victorino set to be a free agent, Betts would be able to play most everyday — the Sox still have Allen Craig under contract and Bradley in the organization, so they wouldn’t be dropping down to zero value replacements.

And while they would be surrendering four years of Betts’ prime during years in which Strasburg could theoretically be pitching for someone else, some of that is offset by the ability to exclusively negotiate a long-term extension or get a draft pick as compensation if he leaves. There’s no question that you’d rather have four more years of Betts’ production than either of those options, but the lost value is deferred several years into the future, and the Red Sox should be willing to trade future wins for upgrades in the next two years. Strasburg would represent the kind of upgrade that would make giving up Betts’ future worthwhile.

Why Washington Should Do It

This is maybe the harder sell, because I just argued for the present value of wins taking precedence over longer-term upgrades for contenders. And clearly, the Nationals are also in win-now mode, especially after adding Scherzer to the mix. And with Doug Fister and Jordan Zimmermann set to become free agents at years end, trading Strasburg could mean that the team could enter 2016 with only Scherzer, Gio Gonzalez, and Tanner Roark as stable rotation options. In a year, the Nationals could easily have a significant hole in their rotation if they traded Strasburg away.

But unlike with Boston, Betts fits their organizational weaknesses perfectly, and Strasburg represents more of a luxury than a need. With Jayson Werth likely to begin the season on the disabled list, there’s an everyday job waiting for Betts in Washington, and for the first few months of the season, he’d essentially be replacing some combination of Nate McLouth, Mike Carp and Tyler Moore, both of whom have some value as first baseman but little as outfielders. Even when Werth returns, Betts would have few problems playing everyday for the Nationals, as the Nationals outfield depth was diminished with the Steven Souza trade, and Yunel Escobar is not so valuable that he couldn’t be easily moved to a part-time role to free up time at Betts’ primary position.

In Washington, Betts probably projects as a two or three win upgrade over their internal positional options, especially if Werth’s shoulder proves to be a lingering issue. So while Strasburg is indeed an excellent starter, it’s not completely clear that the Nationals would actually be dramatically worse off in 2015 by making this trade. Strasburg is probably two to three wins better than Roark, and you’d have to also account for some of Roark’s current innings going to lesser options, but even on the high side, you’re looking at a three win drop-off in the rotation, and if you buy into Roark as a guy who can induce weaker-than-average contact, the gap is probably closer to two wins.

The 2015 Nationals wouldn’t be demonstrably worse with Betts than Strasburg, even though Strasburg projects to be the better player. Their high replacement level at starting pitcher and their very low replacement level behind their penciled-in starters in the OF and at 2B mean that the gap between the two players would be reduced in Washington, not emphasized as it would be in Boston. And Scherzer’s acquisition reduces Strasburg’s value in October as well, as there are only so many October innings to be allocated to starting pitchers. Using Scherzer as the Game #1/#5 starter sets him up to pitch in relief in Game 7, but likely excludes Strasburg from that potential third appearance; the first ace provides a lot more marginal value in the postseason than the second one.

So if the Nationals wouldn’t take a significant step back with Betts in lieu of Strasburg in 2015, the rest of the calculation is actually pretty easy. Next year, Betts moves into a full-time second base role, where he projects as roughly a three win everyday player making the league minimum, and the savings in 2016 salary could be applied directly an extension for Jordan Zimmermann. The assumption has been that Zimermann is not going to be re-signed because the team had to keep it’s future salary available to try to re-sign both Strasburg and Bryce Harper, but with Strasburg out of the picture, a long-term deal for Zimmermann becomes more palatable.

And even if Zimmermann isn’t re-signed, the difference in salary alone gives the team roughly $12 million of budget room that Strasburg would have eaten up, giving the Nationals a chance to offset the difference in expected value between the two by upgrading other parts of the roster. Even if you’re low on Betts, and see him as something more like an average big leaguer going forward, an average player plus $12 million in spending money isn’t a huge step back from a $12.5 million Strasburg.

And then there’s the 2017-2020 value, where the Nationals would have four prime years of an athletic second baseman, one at pre-arb and three at arbitration salaries. With ownership already pushing the costs of the present team into the future, stockpiling valuable assets who will make pennies on the dollar is the best way for the Nationals to build a sustained winner, and Betts is exactly the kind of player that the team will need in order to be able to try and keep Bryce Harper in D.C.

And while Betts’ carries the risks of a young player with just 200 big league plate appearances, the risk surrounding Strasburg may be just as high, especially with Tommy John surgery already on his resume. There’s no question that Betts could struggle to adjust to the big leagues, just as there’s no question that Strasburg’s elbow could go out again on any given pitch. The Nationals would be exchanging health risk for performance risk, but it’s not entirely clear that they’d actually be increasing the expected variance of their roster by making the move.

The TL;DR Summary

Swapping Betts for Strasburg would likely make the Red Sox two to three wins better in 2015, and probably a win or two better in 2016. The marginal value of these upgrades, along with the opportunity to try and sign Strasburg long-term before he hits free agency justify giving up the extra four years of control over Betts’ future, especially for a team in their market.

Swapping Strasburg for Betts might not make the Nationals much worse at all in 2015, while freeing up additional payroll space for 2016 to potentially retain Jordan Zimmermann. Strasburg’s postseason value is diminished by Scherzer’s addition, so he’s more of a luxury than a necessity for the team at this point. The Nationals will not be able to retain all of their young talent without supplementing the roster with productive low-cost players, and Betts is exactly the kind of player they should be targeting in a trade.

In talking with people in the game, neither side seems comfortable with the deal, which suggests that perhaps it’s a reasonably fair proposal, or at least in the ballpark of being reasonable on both sides. I know I’m higher on Betts than most, and if you place a very high value on frontline pitching, perhaps you think the Red Sox should add a sweetener to the deal. This isn’t so much about trying to say that Betts are Strasburg are equivalent in value as it is to say that the Red Sox and Nationals are currently setup to help each other about as well as two organizations have been in some time.

It’s almost certainly not going to happen, but as far as speculative trade suggestions go, this one seems to make as much sense on both sides as any I can remember.

It’s no secret the Nationals have been having a lot of conversations behind the scenes. For much of the offseason, there’ve been rumors the team was open to moving guys like Ian Desmond and Jordan Zimmermann. As hard as it was before to see the Nationals deliberately making themselves worse in the short-term to get better in the future, now the situation has changed — with Max Scherzer on board, the Nationals could subtract and still come out ahead. And with a new ace in the rotation for a while, it’s possible to see a different name on the move: Stephen Strasburg.

No, nothing is on the verge of happening. No, the Nationals don’t need to trade Strasburg, or anybody. They might well elect to go ahead and steamroll through the NL East, preparing for a deep postseason run with an October roster that’s absolutely stacked. On the other hand, there are things like this:

Hearing #Nats RHP Stephen Strasburg is very much available and both sides believe it is time to move on. #MLB

— John Perrotto (@JPerrotto) January 19, 2015

Odds are, Strasburg won’t get moved. But the odds he does get moved aren’t 0%, or even close to that low. So it’s worth wondering: just how high is Stephen Strasburg’s trade value?

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Scott Boras has done it again. After months of what appeared to be mild interest from the clubs one would assume would be in the bidding for the best free agent on the market, Boras found an unexpected bidder with $200 million burning a hole in their pockets. Or, more precisely, $210 million in this case, as the Nationals joined the club of teams paying $30 million per year for premium talent.

Or, at least, they did on paper. Scherzer signed a seven year contract, and in exchange for pitching for them for those seven years, the Nationals have agreed to pay him $210 million in salary. Divide $210 million by seven years and you get $30 million in AAV, which is how this deal will be reported. But because of how this deal was structured, it’s not really $30 million per year.

Instead, the Nationals will pay Scherzer $15 million per season, but do so for 14 years; essentially, they’ve deferred half of each season’s salary seven years into the future. Effectively, they signed Scherzer for $105 million over the seven years that he’ll pitch for them, and then they’ll pay him the next $105 million after the contract ends, making this the most deferred money contract in baseball history.

Teams have been deferring money in contracts forever — the most famous case is Bobby Bonilla’s deal with the Mets that has them paying him through the 2035 season — but never before have we seen this size of a deferral, and so this deal serves as a nice reminder that the payment terms of a deal can have an impact on the actual value of contract. And in this case, the significant deferral has a pretty big impact.

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Here’s maybe the simplest way to put this: a season ago, by his peripherals, Tanner Roark was about a three-win pitcher. By his actual runs allowed, he was about a five-win pitcher. He actually finished with a higher RA9-WAR than Jordan Zimmermann and Doug Fister and a lot of other guys too. At present, the Nationals will have to pitch Roark out of the bullpen, because the rotation doesn’t have space.

We knew the Max Scherzer negotiations were going to go on for a while. We knew that, eventually, Scherzer would sign somewhere, for a whole lot of years and something vaguely in the neighborhood of $200 million. He wasn’t going to wait until after the start of spring training, so it stood to reason Scherzer was nearing a decision even several days ago. The only question, really, was where he’d end up. People talked about the Tigers. People talked about the Cardinals. The actual team is the Nationals. And from the looks of things, that Nationals team might be a super-team.

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Earlier today, Kiley McDaniel published his consummately researched and demonstrably authoritative prospect list for the Washington Nationals. What follows is a different exercise than that, one much smaller in scope and designed to identify not Washington’s top overall prospects but rather the rookie-eligible players in the Nationals system who are most ready to produce wins at the major-league level in 2015 (regardless of whether they’re likely to receive the opportunity to do so). No attempt has been made, in other words, to account for future value.

Below are the top-five prospects in the Nationals system by projected WAR. To assemble this brief list, what I’ve done is to locate the Steamer 600 projections for all the prospects to whom McDaniel assessed a Future Value grade of 40 or greater. Hitters’ numbers are normalized to 550 plate appearances; starting pitchers’, to 150 innings — i.e. the playing-time thresholds at which a league-average player would produce a 2.0 WAR. Catcher projections are prorated to 415 plate appearances to account for their reduced playing time.

Note that, in many cases, defensive value has been calculated entirely by positional adjustment based on the relevant player’s minor-league defensive starts — which is to say, there has been no attempt to account for the runs a player is likely to save in the field. As a result, players with an impressive offensive profile relative to their position are sometimes perhaps overvalued — that is, in such cases where their actual defensive skills are sub-par.

5. Austin Voth, RHP (Profile)

Even though he features just a fringe-average fastball, Voth has had considerable success in his two seasons of affiliated baseball, producing strikeout and walk rates of 27.9% and 6.5% over 173.0 innings. And while he pitched in college, he’s also generally skewed towards the young side of average relative to his levels, so it’s not as though he’s merely preying on less experiences competition. He ended the 2014 season with Double-A Harrisburg and profiles as something better than a replacement-level starter entering 2015.

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I’m going to let you in on a little secret that might not actually really be much of a secret. The most difficult part of this job isn’t the writing or the analysis. At least, as far as I’m concerned, the most difficult part of this job is finding ideas, and finding them consistently. Once you have an idea, everything else can follow, but the thing about ideas is you’d like them to be original and, if you’re lucky, good. And interesting! Interesting is a big one. Maybe interesting and good ought to be categorized together.

For a while, I’ve personally been interested in Tyler Clippard. I’ve considered on several occasions writing about him, and about him specifically, but on every one of those occasions, I’ve talked myself out of it, because it just never seemed relevant enough. Generally, people haven’t woken up and thought, today I’d like to read in depth about Tyler Clippard. So I’ve had this idea on the back-burner for ages. But now? Now is the time to strike, since Clippard just got dealt from the Nationals to the A’s for Yunel Escobar. Tyler Clippard, to me, has always been interesting, but now he’s both interesting and topical, so, here goes nothing. Let me try to explain to you why Clippard is such a weird reliever.

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