The people who say that history repeats itself usually aren’t referring to baseball trade rumors, but here we are, with an offseason that’s already feeling a lot like last July. Around the most recent trade deadline, teams were in the hunt for starting pitching, and at the top of the market were some potentially available, cost-controlled aces. Now teams have resumed the same hunt, with rumors around many of the same targets, and maybe foremost among them are Chris Sale and Chris Archer. Sale’s an ace on a team that might elect to rebuild. Archer’s an ace on a team that can’t afford loyalty.

Just so we’re all on the same page, odds are Sale and Archer don’t both get traded. For all I know, could be that odds are neither gets traded. But let’s explore the situation anyway. Sale’s been a great starter since 2012. He’ll turn 28 in March. Archer became a quality starter in 2013, and he turned 28 in September. Sale’s long been considered perhaps the best starting pitcher in the American League. Archer this season very narrowly avoided 20 losses. If I polled you, almost all of you would rather have Sale than Archer for a must-win game tomorrow. Yet as trade negotiations go, I bet Archer has the higher price tag.

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In baseball, it may not be possible to have too much of a good thing when it comes to quantity of elite-level players. The sport is, almost by definition, at its best when great players face off against one another. If there’s a problem with a strong collection of elite talent, though, it’s that truly great players can get overlooked. It’s hard to distinguish oneself when surrounded by an array of other distinguished performances.

A look at the WAR leaderboard from the American League this past season reveals that four second basemen finished among the top 11 overall performers in the league by this metric.

We know MVP finalist Jose Altuve was outstanding and we know Robinson Cano had an absolutely tremendous season in Seattle. Slightly less heralded was the overall performance of the Twins’ Brian Dozier, although his 28 homers in the second half still garnered him plenty of attention. But what about the fourth second baseman on the list? Did we pay enough attention to Ian Kinsler this year?

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On Friday, we rolled out our list of the top 50 free agents available this winter, with the crowdsourced contract estimates gathered over the last month, along with my guesses as what players will sign for. In the blurbs on each player, I noted a few guys I thought could be good values this year, but it’s always helpful to get it on the record; that way you can see whether I’m worth listening to.

For instance, last year, I identified Rich Hill, Ben Zobrist, and Steve Pearce as bargains based on the contracts we were expecting them to get, and all performed quite well, justifying my faith in their skills. My other two picks? Wei-Yin Chen and Jason Heyward. Yeah.

To some degree, this is the nature of playing in the free agent pool. Even the guys who look like values come with risk, and many times, the reason I think they may be underpriced is because they have some identifiable flaw. When you’re shopping in this kind of environment, you just have to hope your hits are bigger than your misses, and accept that a fairly high percentage of players you sign will end up not being worth the money. But if you get a Hill or a Zobrist, you can get enough value to make up for some of the signings that don’t work out so well.

So let’s try to find some guys who might be undervalued in this class. As other years, I’ll try to sort them by the magnitude of impact, so an undervalued high-end player will rank higher than a similarly underpriced role player; you’re better off landing a Zobrist than a Pearce, for instance. And I’ve included my contract and the crowdsourced projections, along with their 2017 Steamer forecast, as a reminder of what we think the market might pay them this winter.

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One year ago, Yoenis Cespedes was coming off an MVP-like season, having just turned 30 years old. It seemed inevitable he’d sign a large contract. Nevertheless, his market failed to develop. Instead, Cespedes opted to settle with the Mets on a three-year deal for $75 million, an agreement that also included an opt-out clause.

Now, entering the offseason, Cespedes isn’t merely a year older but he’s also coming off a season in which he produced roughly half the wins of his 2015 campaign. Given his age and performance in 2016, it would be reasonable to think his market and future would be less certain than a year ago. In a different market and a different level of certainty regarding his future, though, Cespedes is set to receive the contract most thought he would sign last season.

Determining a player’s value in a vacuum can be a different thing than determining the contract he’s actually likely to receive. For the most part, players in free agency receive more than they’re actually worth; the bidding process rewards/punishes the highest bidder, which is presumably the team with the highest valuation of the player. Cespedes was ranked as the top free agent by Dave Cameron this offseason, and both Cameron and the crowd have estimated that Cespedes will receive a five-year contract worth about $120 million. Now, let’s figure out how much Cespedes will actually be worth over the course of that contract.

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Every winter, hundreds of nondescript minor leaguers become minor-league free agents. Players are granted minor-league free agency when they’re omitted from a club’s 40-man roster and have also spent at least six years in the minor leagues. In other words, they’re players who weren’t good enough to merit a call-up after several years in the minors, and their organizations suspect they lack the potential to be worthy of a 40-man spot.

Some of these players latch on with new organizations; some of them don’t. But regardless, the overwhelming majority never have much big league success. A couple of years ago, Carson Cistulli found that only about 1% of minor-league free agents produce at least 0.5 WAR the following season. Minor-league free agents are the absolute bottom of the barrel when it comes to player transactions. But there’s an occasional gem at the bottom of that barrel. It’s not unheard of, at all, for a minor-league free agent to make a major-league impact. Here, in no particular order, are some notable examples from the past few years: Gregor Blanco, Jesus Guzman, Donovan Solano, Yangervis Solarte, Jake Smolinski, Jose Quintana and Al Alburquerque. Each left his original organization via minor-league free agency, but achieved some level of big-league success with his new team.

Using my KATOH projection system, I identified the hitters from this year’s minor-league free-agent class who showed glimmers of promise in the minors. Based on their minor-league numbers, there’s reason to believe they might be able to help at the big-league level sometime soon. This analysis only considers players who logged at least 200 minor-league plate appearances in 2016. For reference, here’s a similar article I wrote last year. Tomorrow, I’ll repeat this exercise for pitchers.

*****

1) Todd Glaesmann, OF, 2.2 WAR

For the second year in a row, Glaesmann hit respectably in the upper levels of the minor leagues. He spent 2016 at the Diamondbacks’ Double-A and Triple-A affiliates, where he turned in a .272/.312/.462 performance. Glaesmann’s numbers aren’t flashy, but he’s hit for a healthy amount of power while simultaneously not striking out terribly often.

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The Toronto Blue Jays agreed to a deal with 23-year-old Cuban prospect Lourdes Gurriel Jr. on Friday. The deal was first reported by MLB.com’s Jesse Sanchez and the terms of the contract — seven years, $22 million — was first reported by Joel Sherman of the New York Post.

The reports I’ve gotten from international scouts regarding Gurriel are solid, if unspectacular. Scouts see the physical talent to play at second, third, or the corner outfield and one source with whom I spoke thought he’d have a chance of playing center field with reps. His arm is plus and he’s an average runner (above-average underway) with passable defensive actions on the infield.

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Episode 698
Dayn Perry is a contributor to CBS Sports’ Eye on Baseball and the author of three books — one of them not very miserable. He’s also the contemptible but necessary guest on this edition of FanGraphs Audio.

This episode of the program either is or isn’t sponsored by SeatGeek, which site removes both the work and also the hassle from the process of shopping for tickets.

Don’t hesitate to direct pod-related correspondence to @cistulli on Twitter.

You can subscribe to the podcast via iTunes or other feeder things.

Audio after the jump. (Approximately 1 hr 9 min play time.)

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