Carlos Martinez Gets Paid, Leaves Money on Table
The St. Louis Cardinals lack stars. Sure, Yadier Molina and Adam Wainwright are well known and remain solid even as they age. Sure, Matt Carpenter has developed into an important member of the club. In terms of big-time production, though, the Cardinals have few options upon which they can reasonably rely.
Dan Szymborski’s ZiPS projections for the Cardinals support this observation: per ZiPS, no position player on the St. Louis roster is likely to produce more than 3.1 WAR in 2017; only one pitcher is projected for more than 2.1 wins. That pitcher — and, incidentally, the only player on the Cardinals whom one might reasonably classify as a “star” — is Carlos Martinez.
Yesterday, the Cardinals very wisely locked that star up. Martinez and the club agreed to a five-year extension worth a guaranteed $51 million. The deal includes two options that could keep Martinez in St. Louis through 2023 and buy out four years of free agency, leading to a possible total value of $85.5 million.
A week ago, I suggested that the Wil Myers deal — for six years, $83 million guaranteed — indicated that extensions for players who possessed more than three and less than four years of service time might become a lot more expensive. This contract appears to provide evidence to the contrary.
In that post I noted that, among such position players, only five had recently reached contract extensions — and that those were either upside bets on riskier players like Michael Brantley and Josh Harrison or big-money contracts for big-time players like Freddie Freeman. The one contract in the middle involved Dee Gordon and his five-year deal for $50 million, an agreement that also includes an option. Martinez’s contract is like Gordon’s, except with an additional free-agent year surrendered by the player.
On the pitching side, meanwhile, there’s virtually no precedent for this type of deal.
Martinez’s deal breaks the record for biggest guarantee to a starting pitcher entering arbitration, a distinction which previously belonged to Corey Kluber after he was guaranteed $38.5 million heading into the 2015 season. That deal might also potentially last seven seasons. At the time, however, Kluber was a super-2 player. He was entering arbitration for the first time, but he was still four years from free agency, unlike Martinez’s three. He was also coming off a Cy Young Award and heading into his age-29 season, meaning he was four years older than Martinez is now. Kluber’s deal provided some guaranteed income, but also gave away all of his prime years: he won’t be a free agent until after his age-35 season.
That isn’t the case for Martinez, who enters just his age-25 season. Even if all of the options are exercised, Martinez will still head to free agency after his age-31 season, the same age as Zack Greinke when he signed his $206 million deal with the Arizona Diamondbacks.
