Spending $130 Million Well and Less Well
On Saturday, the Rangers agreed to sign Shin-Soo Choo to a seven year, $130 million contract. With Nelson Cruz and David Murphy departing via free agency and Craig Gentry traded to Oakland, they had a gaping hole in atheir outfield, and they signed the best outfielder left on the market. Given their position on the win curve, maximizing their 2014 roster potential is an understandable strategy, even though Choo is likely to be completely dead weight by the end of this deal. As I wrote at the beginning of the off-season, nearly every long term free agent contract will be a poor investment for the team by the end, as they are designed to be a value to the team in the first few years and a value to the player in the last few.
That said, even with the Rangers having ample revenues — thanks to their television contract — and being in a prime position on the win curve, this still looks like a pretty significant overpay to me, and a contract I think Texas will regret sooner than later. In fact, depending on how much money Nelson Cruz suckers someone into paying him, this might actually end up as my least favorite contract of the entire winter. And I think this deal looks particularly mediocre when you see what the Yankees did with the same resources.