FanGraphs Baseball

Not even 72 hours removed from winning the World Series, the Cubs made their first roster shakeup of the offseason – roster decision deadlines wait for no hangover. Yesterday, the Cubs officially declined the $12 million team option on Jason Hammel and will pay the $2 million buyout instead. Typically there isn’t too much surprise with contract options. Ryan Howard at $25 million? Decline. Wade Davis at $10 million? Accept. Declining Hammel’s option was so curious, however, that Cubs president of baseball operations Theo Epstein took a break from his bender to issue 318-word statement on the matter:

The #Cubs today announced that the club has declined the 2017 option on Jason Hammel’s contract. pic.twitter.com/sJ22n2VQ8N

— Chicago Cubs (@Cubs) November 6, 2016

Hammel signed a one-year deal with the Cubs prior to the 2014 season, was traded to Oakland with Jeff Samardzija in the Addison Russell trade that July, and then returned to the Cubs on what would’ve been a three-year, $30 million contract had the option been picked up, but which has instead become a two-year, $20 million deal. In his two-and-a-half seasons with Chicago, he pitched 446 innings to a 3.59 ERA, 22.9% strikeout rate, and 5.9 WAR – and added 0.6 WAR with the bat, for good measure. Now, those stats might be disappointing for a top-of-the-rotation pitcher, but Hammel was functionally the Cubs’ fifth starter! Fifth starters aren’t supposed to be this good and the Cubs could’ve had effectively retained him for $10 million (his $12 million option minus the $2 million buyout), so why didn’t they?

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This past season we debuted our custom splits tool for players, and over the weekend, we updated the tool to include filtering options. These filtering options allow you to remove the lines of stats which don’t meet a specific criteria.

For example, if you wanted to view only those seasons in which Dexter Fowler recorded more than 200 plate appearances at home, you can add a filter for that. You could also add a filter to see the seasons where Fowler had over a 20% strikeout rate on those splits. This filter also works if you group by months, weeks and games, so, for example, you could return all the games in which a player had three or more hits. Filters act like the splits in that they can be combined and customized.

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The offseason is upon us. Free agency officially begins tomorrow, as the five day exclusive window ends, and teams and agents are free to begin officially negotiating with anyone they choose. But as we’ve seen in past years, the start of the free agent period doesn’t really set off a signing frenzy; the baseball free agent market moves pretty slowly for most players.

And that’s because teams generally want to kick a bunch of tires before committing to one path, and that tire-kicking includes exploring the trade market, figuring out who is buying and who is selling. The last few years, the league has seen a drastic shortage of sellers, as teams within spitting distance of .500 decided to fancy themselves as contenders thanks to the addition of the second Wild Card and the financial incentives related to making a deep postseason run. The reality of 22 or 23 teams trying to add talent while only six or seven teams were looking to unload veterans made for a challenging trade environment, and resulted in a bunch of teams deciding that free agency was the way to go last year.

This year, though, the free agent market stinks. There just isn’t the kind of impact talent out there that teams are used to being able to throw money at, so the trade market is likely to be even more active than usual. And yet, we might be in a similar position in regards to the ratio of buyers and sellers.

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You have a choice. Either I give you $100 right now, or you can let me flip a coin. If the coin lands on heads, I’ll give you $250. But if it lands on tails, I’ll give you $20. I’m using a fair coin, so the expected value of flipping the coin is $135 based on the 50/50 odds it lands on heads or tails. If you like risk or are a risk-neutral person, it’s an easy decision to take your chances with the coin because the odds are strongly in your favor. If you’re a risk-averse person, however, you’re more likely to take the sure thing because $135 isn’t a whole lot more than $100, and $100 is a whole lot more than $20.

Let’s add another wrinkle. It’s the same choice, but if you choose the coin flip, you have to wait a month. The dollar amounts are the same, but now there’s a time component. To get the value of the coin flip, you need to apply a discount factor to the $135. For some people, that discount factor is pretty close to one, but it might be much lower if you’re strapped for cash and the $100 would dramatically improve your life in the present.

Major-league players face a much higher stakes version of this decision when their club comes to them with a contract extension. Do they take a sure thing now, or do they wait and gamble on themselves? While we’re focusing a lot on the 2016-2017 free-agent class this month, there are 13 players who could have been free agents for the first time this year but instead chose to cash out early by signing extensions. Did they make the right decision?

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For the last three years, the overwhelming majority of baseball fans in Los Angeles have been unable to watch the Dodgers play on television. In 2014, the team partnered with cable provider Time Warner to launch SportsNet LA, a network dedicated to the franchise. Citing the excessive price that Time Warner was demanding from other cable providers for the rights to air SportsNet LA — such as an initial asking price of roughly $5 per subscriber per month — other service providers like AT&T, DirecTV, and Cox have subsequently refused to carry the network.

As a result, since 2014, upwards of 70% of Los Angeles residents have not had access to televised Dodgers games. Indeed, because Time Warner only offers cable services in parts of the Los Angeles metropolitan area, in many cases even if fans were willing to change cable providers to gain access to the Dodgers, they were nevertheless still unable to do so because none of the available providers in their neighborhood carried SportsNet LA.

Given its high asking price for the network, it’s not surprising that the public has typically painted Time Warner as the bad guy throughout this ordeal. According to a lawsuit filed last week by the U.S. Department of Justice, however, Los Angeles sports fans’ anger may have been misdirected, as it now appears that DirecTV — now owed by AT&T — may in fact be largely to blame for the Dodgers’ three-year blackout across much of Los Angeles.

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As in other recent offseasons, FanGraphs is once again facilitating this offseason a contract-crowdsourcing project, the idea being to harness the wisdom of the crowds to the end of better understanding the 2016-17 free-agent market. Woefully omitted from the main round of this year’s crowdsourcing ballots was Yoenis Cespedes, who opted out of his contract with the New York Mets this weekend, forgoing $47.5 million over the next two years in order to test the market.

Below is a brief summary of Cespedes’ recent career, plus a link to his ballot.

Yoenis Cespedes (Profile)
Some relevant information regarding Cespedes:

• Has averaged 621 PA and 4.4 WAR over last three seasons.
• Has averaged 4.2 WAR per 600 PA* over last three seasons.
• Recorded a 3.2 WAR in 543 PA in 2016.
• Is projected to record 3.1 WAR per 600 PA**.
• Is entering his age-31 season.
• Made $27.5M*** in 2016, as part of deal signed in January 2016.

*That is, a roughly average number of plate appearances for a starting player.
**Prorated version of 2017 depth-chart projections now available here.
***Including a $17.5M base salary and $10.0M signing bonus.

Click here to estimate years and dollars for Cespedes.

Ben and Sam banter about the attendance at the Cubs’ World Series celebration, then discuss several things we may (or may not) have seen for the last time during the 2016 season.

Jason Heyward struggled with the bat all year. The expensive free agent acquisition had a .631 OPS during the regular season, and he went 5 for 48 during the postseason. He didn’t struggle with perspective.

Heyward pulled his Cubs teammates together during the Game 7 rain delay, reminding them that they were baseball’s best team. He told them, ‘We’re going to win this game.”

Nine days earlier, on the eve of the World Series, he was thoughtful while espousing the quality of his club. Read the rest of this entry »

Each week, we publish north of 100 posts on our various blogs. With this post, we hope to highlight 10 to 15 of them. You can read more on it here. The links below are color coded — green for FanGraphs, brown for RotoGraphs, dark red for The Hardball Times and blue for Community Research.
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