The Most Player-Friendly Free-Agent Deals of the Winter
With the arrival of Opening Day on Thursday (!), a look back at the best and worst free-agent contracts of the winter would seem long overdue — except for the fact that dozens of free agents still haven’t signed and the ink is barely dry on several other deals. Just last week, Alex Cobb, whom Dave Cameron ranked 10th on his Top 50 Free Agents list, inked a four-year, $57 million deal with the Orioles. Five other players from among Cameron’s top 15 — Jake Arrieta, Lance Lynn, Jonathan Lucroy, Mike Moustakas, and Neil Walker — have signed since March 10. Prior to that wave, any attempt at an overarching analysis would have felt premature.
On the free-agent front, it was a weird winter of discontent, the slowest of the millennium when it came to free-agent signings. True, this year’s class was a relatively weak one, with the top free agents almost uniformly dealing with recent performance regression, injuries, and/or short track records of success.
The bigger story is the way in which the ramifications of the most recent collective bargaining agreement rose up to bite the players in the derriere. None of the five teams that paid the luxury tax for 2017 — the Dodgers, Yankees, Giants, Tigers and Nationals — signed anyone to a deal worth more than $10 million in total salary. The Dodgers, Yankees, Giants, and Nationals were particularly cautious about shimmying under the $197 million threshold so as to reset their marginal tax rates, while the Tigers were among several teams who used their status as rebuilders to justify meager expenditures in the market.
(The Cubs and Red Sox were initially reported by USA Today as having paid the tax, an error that was repeated here.)
Mid-market players who turned down qualifying offers and had the drag of a lost draft pick attached to their services were hit particularly hard, in part because an increasingly analytics-driven industry has gotten wise to the perils of paying aging ballplayers for past production.