Extending Older Free-Agents-to-Be Like Adrian Beltre
There are rumors that Adrian Beltre, a potential free agent next winter, might sign a contract extension with the Rangers this spring, potentially taking him to the end of his career. Jose Bautista in is a slightly similar situation with the Blue Jays. Dave Cameron discussed the potential of signing him to a contract extension one year out. Edwin Encarnacion and Carlos Gomez are also among those veteran players who have previously signed contract extensions but who are eligible for free agency after the 2016 season. Those players could conceivably sign extensions before hitting the free-agent market. If they do, how will the contract look? Will the signing team extract any extra value from signing it? Or is it distinctly an advantage for the player?
On Friday, we looked at players who were bought out before taking their very first crack at free agency — players who signed their first extension just before reaching their free-agent years. Generally speaking, teams paid free-agent prices for those players and received typical free-agent results.
I wondered if the same form would hold true for more veteran players who have already received an extension somewhere along the line or had even already participated in free agency. On the one had, such players are older and thus more prone to decline earlier on in the contract. On the other, the signing teams would already have familiarity with these players and these players might be better given the previous investment, perhaps mitigating the influence of any age-related decline.
Much like I did on Friday, I consulted MLB Trade Rumors and looked for players who signed an extension within a year of free agency. This time, I considered only players who had amassed at least six years of service time, indicating that he’d already signed a previous free-agent contract — either that, or at least signed an extension that bought out a certain number of free-agent seasons. For the most part, these players had been made a priority by their current team or a previous one and their current team decided to make a significant investment in their future and convince them to skip the allure of free agency.


