Let’s Sign Some Contracts, 2024 Edition

Spending money can be a lot of fun, but spending someone else’s money is even better. And that’s exactly what we’re doing today!

About a month into the season is typically when I look at some of the players who are prime extension candidates and the possible deals they might work out with their teams. As usual, the contracts here are not necessarily what I would offer the players or what they will get, but what the mean, cold-hearted projections think would amount to a fair agreement. For each player, I’ve included their ZiPS projections with the latest model updates.

Elly De La Cruz, Cincinnati Reds (Nine years, $192 million)

It’s going to be a long time until Elly De La Cruz is eligible for free agency, but if the Reds wish to signal to the fans that the best players they develop will be in Cincinnati for longer than their middle arbitration years, ownership is going to have to make a real commitment to one of them at some point. And who is a better option than De La Cruz? I would have said Matt McLain a few months ago, but his major shoulder surgery makes it a risky time for both team and player to come to a meeting of the minds on a future dollar figure. De La Cruz still has issues making contact, but his plate discipline has continued to improve since his debut. He’s drawing a lot more walks this year and he’s actually been better than the average major leaguer at not chasing pitches. And with better plate discipline should come more power because a greater percentage of his swings will come against pitches that he can actually drive.

As you can see below, he wouldn’t need to exceed his 50th percentile projections for home runs by much to secure a 40/40 season. In fact, after hitting his eighth home run of the year Monday night, De La Cruz is currently on pace for 45 homers and an absurd 101 steals this season — and he still has a lot of polishing left to do. He’s also showing he’s far from a defensive liability at shortstop, even though a healthy McLain is still probably preferable there. This contract buys out some of De La Cruz’s early free agency years and gives him a big wad of guaranteed dough.

Corbin Burnes, Baltimore Orioles (Eight years, $210 million)

If you’ve been following my work for a while now, you surely know I’m an Orioles fan. And like many other Baltimore fans, I remember the moment when I became unhappy with the ownership of the late Peter Angelos. My feelings toward him soured because of how he and the Orioles handled their free agent negotiations with Mike Mussina. After Moose had previously taken a hometown discount, the O’s assumed he would continue to pitch for them at a below-market rate, and as a result, they lowballed him the next time he was eligible for free agency. He declined, leading to the second-best pitcher in team history finishing his career wearing Yankee pinstripes and ensuring that his Hall of Fame plaque wouldn’t have an ornithologically correct bird on the cap.

While I still think the team should lock up Grayson Rodriguez long term, it’s far more urgent< for the O’s to extend Corbin Burnes, given that he hits free agency after the season. No better pitcher will be available this winter, and nobody in the minors anywhere, for any team, is a safe bet to be better than Burnes over the next five or six years. New owner David Rubinstein has said all the right things, and he made a nice gesture when he bought everyone at Pickles a round of drinks, but the best way to show that he’s serious about building a perennial contender is to not let his team’s ace sign elsewhere. Given the O’s have just about nothing in the way of financial obligations, there’s no reason not to extend him. If that means paying more than that figure above, so be it.

Bo Bichette, Toronto Blue Jays (Seven years, $151 million)

Let’s be clear, despite his uncharacteristic struggles so far this season, I think Bo Bichette will command more than $151 million, and while the Blue Jays may balk any amount greater than that figure, they should still be willing to pay him whatever it takes to keep him around for the bulk of his career. Because of his position and his consistency (again, his first month of this season notwithstanding), Bichette has emerged as the best scion of a baseball family in Toronto, and time’s running out to extend bounty hunter Boba Chette before he hits free agency after the 2025 campaign. I actually think he’ll age better than ZiPS does, at least offensively. Either way, shortstops get super expensive if you wait until they hit the open market. That means that now’s the time for the Blue Jays to extend him if they’re going to keep him, even if that means going over this projected offer to ensure he doesn’t reach free agency.

Alex Bregman, Houston Astros (Four years, $101 million)

The Astros have been able to let some of their offensive contributors walk in free agency — Springer and Carlos Correa among them — mainly because they’ve had pretty solid replacements coming up at the same time, such as Yordan Alvarez, Kyle Tucker, and Jeremy Peña. There’s no similar player on the horizon who can take the place of Alex Bregman. And with Houston already reeling with its pitchers, it would be a lot to ask the front office to fill a gaping hole at third base as well.

Max Fried, Atlanta Braves (Six years, $150 million)

Atlanta has a knack for being able to survive epidemics of pitcher injuries in ways that are fascinating if you’re a fan of the team and maddening if you root for another one. But with Spencer Strider already out for the rest of this season after undergoing internal brace surgery for his damaged elbow, can Atlanta really afford to let Max Fried and Charlie Morton depart this offseason? I like what Reynaldo López has done this season, but you don’t really want to go into 2025 counting on his continued success, Chris Sale’s health, and a full recovery from Strider following his second UCL procedure? The Braves reportedly offered six years, $162 million to Aaron Nola; how could they not make a similar offer to Fried, a similarly valued pitcher who has been a large part of their recent success? Now, all reports I’ve heard suggest Fried’s not keen on discussing an extension during the season, but that doesn’t mean he wouldn’t change his mind if Atlanta gives him a good reason to do so.

Josh Naylor, Cleveland Guardians (Four years, $80 million)

Since the start of the 2002 season, the Guardians have received 10,109 plate appearances from first basemen not named Jim Thome, Carlos Santana, or Josh Naylor. Those 57 hitters have combined to hit .253/.324/.426 for 7.7 WAR, or about 0.5 WAR per 600 plate appearances. This is a franchise that has struggled to find solid fill-in first basemen, so it’s hard to imagine the Guardians would be able to find an an adequate replacement if Naylor walks after 2026. And this is hardly a blockbuster deal; it’s similar to what Kyle Schwarber got from the Phillies coming off the best season of his career (2.7 WAR in 2021). Naylor’s not a superstar, but he’s in his prime years. That should be enough incentive for the Guards to pay for him to stick around, and so long as the deal is fair, the fact that Josh’s younger brother Bo also plays for Cleveland might make him more inclined to stay.

Jackson Merrill, San Diego Padres (Seven years, $95 million)

Jackson Merrill has one of the odder long-term projections according to ZiPS, which expects him to have a long, stable plateau rather than a period of significant growth followed by a steady decline (at least in the years covered below). But ZiPS is increasingly coming around to his reputation as a good bad-ball hitter, and his batting average projections have improved considerably since the winter. Merrill looks to be a solid player, and he’s one the Padres may need toward the end of their long-term deals with infielders Xander Bogaerts, Manny Machado, and Jake Cronenworth.

Pete Alonso, New York Mets (No offer)

Pete Alonso is rightfully a very popular player in New York, and I’ve always had a soft spot for the Polar Bear, both because homers are fun and because ZiPS was in on him very early when he was a prospect (everyone likes looking smart). And with his free agency imminent, this would be a suitable time to extend him on a long-term contract. The problem is, the more I look at the situation, the harder it is for me to think of a scenario in which he and the Mets could come to terms on a deal unless one party was willing to come out of the negotiation feeling very unhappy. ZiPS suggests a four-year, $70 million contract, and I can’t imagine Alonso feeling anything but insulted by an offer like that. I think given Alonso’s place in the organization and the hiccups in the development of Brett Baty and Mark Vientos, the Mets would be willing to pay Alonso more than a projection suggests, but I can’t see them offering him Freddie Freeman or Matt Olson money, either. Because the basic fact is that Freeman and Olson are more well-rounded players than Alonso, who has one amazing dimension. Just to illustrate, below Alonso I’ve included the projections for Freeman and Olson over the next six years.

Alonso projects to be slightly worse than them in the short term and then to be similar in the later years, though that’s likely because he is younger than them. Plus, by the end of 2024, the other players’ contracts already will have covered two additional prime seasons from Olson and three from Freeman. I don’t think any pending free agent has a bigger gulf than Alonso does between the perceived value of his past and the expected value of his future, and as such, this has contract boondoggle written all over it, as big as it was with Kris Bryant a couple years ago. I don’t envy the Mets for the decision they have to make with Alonso, because letting him go, trading him, and keeping him all feel like poor options.