Nationals Arm Race

Heeeee's back! Photo: AP via lehighvalleylive.com

Talk about a shock.  Everyone in the baseball world had Cliff Lee going to the Yankees (with a small minority believing that the lack of income taxes in Texas would keep him with the Rangers).  Now, news has broken that Lee is returning to the Phillies in a relatively affordable deal (all things considered).  5years, $120 (average annual value of $24M) with a 6th year easily attained.  He turned down longer deals from New York (reportedly 6years $132M with a 7th year player option at $16M) and Texas (a similar 6year deal with player option for 7th) to return to Philly, where he really enjoyed the clubhouse culture and the city.

Immediate thoughts (echoed in texts to Philadelphia friends earlier today):

1. The Phillies are *really* stacked.  A rotation where Roy Oswalt is your 4th starter??  That’s sick.  Though they’ll probably line up the rotation to go R-L (Halladay, Lee, Oswalt, Hamels).  Their 5th starter is now either Blanton or Kendrick, meaning they have spare parts to trade to teams needing pitching.
2. Lee joins a team that won 97 games last year and significantly improves the rotation.  Does this mean the Phillies are on their way to 105-106 wins?  Perhaps; Lee is such an upgrade over the starter he’s basically replacing in the rotation (Jamie Moyer), but the Phillies have lost Jayson Werth in the middle of their order.  Ibanez isn’t getting any younger and its no guarantee super-stud prospect Dominic Brown can provide the offensive replacement they need.  But, baseball is becoming a pitcher’s game and the Phillies just bought the biggest arm out there.
3. Phillies GM Ruben Amaro re-acquires the same guy he mortgaged his upper farm system for two years ago.  Only this time for no prospects lost (just his 1st round draft pick).  I know that nobody will be saying this, but clearly the return of Lee means that the Phillies screwed up royally by letting him go in the first place.  Luckily nobody will care as long as they’re still winning, still making the playoffs and still competing for the world series.  And, in the end it may not matter because reports from scouts say that the Phillies lower farm teams (rookie and low-A) are stacked with talent and the team will naturally replace some of these aging free agents (guys like Polanco, Ibanez, perhaps even Victorino) with cheaper alternatives and keep payroll in check.
4. The Yankees are in seriously big trouble.  Their entire off-season depended on upgrading a very vulnerable rotation with Lee.  Right now their rotation has one sure thing (Sabathia), one retirement question mark (Pettitte), one promising rookie with little track record (Hughes), one possible massive FA bust (Burnett) and … who knows?  I don’t think a trade for Greinke or Garza is possible for the Yankees; Greinke may not be the best fit in NY and Tampa may not be wise to trade Garza intra-division.  Plus, do the Yankees even have prospects worthy of tempting these two teams?  Joe Lemire posted very similar thoughts to mine vis-a-vis the yankees today as well.
5. Lee’s contract, tacked onto the massive contracts for Howard and Halladay may very well serve as a boat anchor for this team in a few years.  I’ve posted in the past about free agent pitcher contract values and clearly a $24M/year AAV is going to be incredibly difficult to earn.  Even if Lee wins 20 games in every season of the contract the Philles are still not getting good value on their money.  Cot’s site isn’t fully updated for even Howard’s extension but the Phillies right now have about $80M committed in 2013 to FOUR players (Howard at $20M, Halladay $20M, Lee $24M and Utley $15M).  That’s not exactly a lot of flexibility of one of those guys gets badly injured.

Since this is a Nats blog, how does this affect us?  Besides the obvious (the Phillies clearly will be that much more tough to beat for a divisional title for the next few years), this move means the Nats may have a much tougher time acquiring Greinke or Garza.  Both Texas and New York now will bet the farm on those two starters, and the Nats will not be willing to match the prospect drain that Kansas City and Tampa Bay (respectively) will be demanding in return.

And lastly the really obvious; competing in the NL East just got that much harder for this team.  If the Phillies are going to act like the Yankees in acquiring high-end FA an Payroll … the Lerners better start acting more like Boston and less like Baltimore.  $60M in payroll isn’t going to cut it anymore; try $120M.  The Werth signing in many ways seemed like a desperation signing, a quick attempt to regain some fan interest in this town and offset the loss of Adam Dunn.  But Werth alone isn’t going to help this team.  We need more hitting, better pitching, better players.  Honestly we really just need time to get our high-end prospects though the system … but can we wait until 2013 to compete?

The team is entering its 7th year in Washington, a team notorious for NOT supporting its professional teams unless they’re successful.  Baseball isn’t like football, where national TV contracts and salary caps essentially mean a team can compete equally whether they’re in New York or Kalamazoo.  In baseball you have to generate your own revenue and make your own luck.  You have to spend money or spend time (and risk alienating the entire fan base) while getting better.  For the Nats, who wasted 3 years of good will and a brand new stadium being stingy and thinking that the product on the field didn’t matter … they have no choice.  They need to be successful NOW to stem the flow of season ticket cancellations and attempt to be relevant in this town.

Rizzo; go get this guy! Photo Bosoxinjection.com

The Red Sox’s signing of Carl Crawford to a 7yr, $142M contract (a contract undoubtedly pushed skyward by the Nats Jayson Werth deal a few days earlier)  makes for a rather imposing possible Red Sox Lineup in 2011.  Here’s a probable opening day lineup:

1. 2B Dustin Pedroia (R)
2. LF Carl Crawford (L)
3. 1B Adrian Gonzalez (L)
4. 3B Kevin Youkilis (R)
5. DH David Ortiz (L)
6. RF J.D. Drew (L)
7. SS Marco Scutaro (R)
8. C Jarrod Saltalamacchia (S)
9. CF Jacoby Ellsbury (L)

Now, one thing is immediately apparent with this lineup.  They are incredibly lefty-heavy through the heart of their order.  And in a division with CC Sabathia, probably Andy Pettitte and potentially Cliff Lee on their main competitor, this could be rather bad during key divisional games.

Clearly the Red Sox need to get some righty help in the heart of their lineup.  Enter Josh Willingham.

Trade Proposal: The Nats trade Willingham and a decent prospect (perhaps one of our AA pitchers) to the Red Sox for Jacoby Ellsbury.  Crawford slides over to center for Boston, Willingham plays left, and you have Mike Cameron as your late inning defensive replacement outfielder.

Ellsbury is exactly what the Nats need; leadoff center fielder who shows more promise and more self control than our current leadoff/CF Nyjer Morgan.  He lost most of 2010 to injury but in 2009 lead the league in stolen bases and would give us good defense in center per his uzr/150 rankings.  He’s cost contained (not yet arbitration eligible) and we’d control him for at least 3 more years.

Willingham’s approach at the plate fits the Sabremetric-thinking Red Sox; he has a high OBP, sees a lot of pitches and puts up a good OPS when healthy.  He is defensively challenged but left field at Fenway might be the best place in all of baseball to “hide” a crummy defender.  He’d give the Red Sox a righty presence in the middle of the lineup and replace a 9th place hitter with a middle of the order hitter.  He’s in the last year of arbitration but still projects to be relatively cheap (by Boston’s standards), probably earning around $6M/year.  He clearly wants to set down roots and could be a nice 3 or 4-year signing in Boston.

With Willingham, here’s a Potential Boston lineup:

1. 2B Dustin Pedroia (R)
2. CF Carl Crawford (L)
3. 3B Kevin Youkilis (R)
4. 1B Adrian Gonzalez (L)
5. LF Josh Willingham (R)
6. DH David Ortiz (L)
7. RF J.D. Drew (L)
8. SS Marco Scutaro (R)
9. C Jarrod Saltalamacchia (S)

Now they go R-L alternatively for the first 6 hitters, and if Saltamacchia catches or if Varitek gets some ABs they both switch hit and could slot above Scutaro to give even more flexibility.

Who says no first?

Edgar Renteria buried the Rangers in Game 5. Photo: Stephen Dunn/Getty Images.

(this is a follow-up to a previous posting about the Giant’s World Series victory).

Despite the supposed massive superiority of the American League and its juggernaut payroll teams, a team from the National League (one that barely made the playoffs no less) was crowned WS champion after a rather tidy 4-1 series victory.  The Giants are certainly not a low-payroll team; they started the season with the league’s 9th highest payroll, finished the regular season with the 5th best record and advanced through the playoffs with relative ease (they were 11-4 in the playoffs altogether, losing 2 Sanchez starts, a Lincecum and a Cain start (despite Cain continuing a 22 inning post season no earned-run streak).

Not that it mattered in the end, but game 5 certainly turned on a questionable pitching strategy decision just before the decisive 3-run homer in the 7th.  Cody Ross led off with a single (continuing his amazing post season and certainly buying him FA dollars in the off season).  Cliff Lee made an 0-2 mistake to Uribe who smacked a single into center.  After a fantastic career-first sacrifice/drag bunt by Aubrey Huff, Cliff Lee had runners on 2nd and 3rd with one out.  Lee battled Burrell to 3-2 before striking him out on an outside cutter.  This seemed at the time to be the game-changing strikeout that Lee needed but he quickly fell behind the next batter Edgar Renteria 2-0, missing badly with two curveballs.  Announcer Tim McCarver, often villified as being the master of the obvious, stated very clearly that the right decision upon falling behind 2-0 would be to walk Renteria, load the bases with 2 outs and start afresh with the on-deck hitter Aaron Rowand (a sub in the series and not nearly the threat of Renteria).  Before McCarver could finish his thought, Lee grooved a 2-0 fastball, belt high, down the middle of the plate and the aging, soon-to-be-retired Renteria didn’t miss.  He crushed a 3-run homer and the game was essentially over.  Lincecum pitched 8 complete (giving up a meaningless homer to Nelson Cruz) before oddball closer Brian Wilson blew through the heart of the Rangers lineup (Hamilton, Guerrero and Cruz again) to get the save and finish out the series.

Why does Lee not walk Renteria there?  Why does the pitching coach see the obvious situation, run out to the mound and say, “hey, lets just throw two fastballs a foot outside and start over on Rowand?”  This is the reason MLB teams have bench coaches; to help the manager manage the game.  It was the latest in a series of curious pitching moves (or non-moves) from the Rangers coaching staff.  In reality Lee is a competitor and probably thinks he can get anyone out, at any time, let alone an over-the-hill bounce-around-the league veteran like Renteria.  But, no matter what the quality of the hitter mistakes in Major League Baseball quickly turn into gopher balls.

Overview of all 15 games the Giants played this offseason:

SF Starting Pitching Stats in the playoffs (all three series combined)

The cliche for post season baseball has always been, “good pitching beats good hitting” and we certainly saw this in the 2010 post season.  The Giants featured 2 clear “Aces” in Lincecum and Cain, while witnessing a 21-yr old rookie Madison Bumgarner dominate on the sport’s biggest stage.  Only #3 starter Sanchez struggled in this post season (if you can call a 4.05 era against the best teams in baseball truly “struggling”).   The world series featured the league’s best hitting team in Texas, but they were shut down by the Giant’s pitching staff, hitting .190 for the series.

Ironically; what the Giants just finished doing to the Rangers is what most of the baseball world thought the Phillies and their vaunted rotation would be doing.  Yes; the AL has the Red Sox and Yankees and Rays (by most opinions 3 of the best 5 teams in baseball) but the NL has the rotational depth to shutdown $150M rosters.  If the Yankees want to compete next year, look no further than replacing Vazquez with Cliff Lee, turning the ineffective Burnett into a 5th starter (ala what SF did with Barry Zito) and finding themselves a solid #1a Ace behind Sabathia.

How does this tie back to the Nats?  The answer is clear; if you can put together a top notch starting rotation, you can go incredibly far.  Imagine in 2012 this rotation: a healthy Strasburg, a strong and improving Jordan Zimmerman, an impressive young starter in Sammy Solis, a top notch free agent acquisition along the likes of Greinke or a healthy Brandon Webb, and a take your pick from our stable of #5 starters like Lannan, Detwiler or Maya.  These guys can end losing streaks, keep your team in games, throw up quality starts 80% of the time, and turn a league average offense into a post season team.

That’s the “plan” anyway.

Josh Hamilton hits another homer. Photo: www.graphicshunt.com

Nov, 2010 Update: actual award winners:

• AL MVP: Josh Hamilton
• AL Cy Young: Felix Hernandez
• AL Rookie: Neftali Feliz
  
• AL Mgr: Ron Gardenhire

• NL MVP: Joey Votto, named first on 31/32 ballots.
• NL Cy Young: Roy Halladay, unanimous.
• NL Rookie: Buster Posey, rather easily over Jayson Heyward
• NL Mgr: Bud Black

Candidates and Guesses on the award winners for the 4 major categories per league.  I originally wrote this towards the end of the season, and now am updating it based on how the season finished out.

AL MVP: Josh Hamilton (Cano 2nd unless voters get all NY-starry eyed).  Miguel Cabrera getting is putting up serious numbers but the all around play of Hamilton is hard to miss.

AL Cy Young: Felix Hernandez.  Back in late august I had CC Sabathia winning this, but Felix’s statistics pitching for such a poor team are overwhelming.  Mid summer, this was David Price‘s award to lose and, well, he’s lost it.  Cliff Lee was putting in a pretty strong summer as well but has really struggled since getting to Texas.  Guys like Clay Buchholz (who led the Majors in ERA for a bit) and Trevor Cahill looking so strong.  Lots of good starter performances in the AL this year.

AL Rookie: Neftali Felix, who has been lights out for the Rangers as their closer.  Guys like Austin Jackson and Brendan Boesch have tailed off.  Daniel Bard really isn’t in a position as a setup guy to be the impact player the others are.  Reaching the post season and putting up good numbers there didn’t hurt.

AL Mgr: I’m going with Minnesota’s Ron Gardenhire.  He coaxed 94 wins out of a team with a ho-hum pitching staff, a team that lost its closer in the pre-season and which didn’t have its leading slugger for the 2nd half of the season.  Ron Washington also gets some credit, having taken a team with very little payroll to the top of their division.  Its a bit less impressive though since the Rangers were already projecting to be a pretty good team.

NL MVP: Joey Votto.  Pujols may be an equal, but Votto will win the “hey lets give it to someone else” crowd.  I guess Adrian Gonzalez will come in a distant third.

NL Cy Young: Roy Halladay, who has been consistently and quietly awesome so far this year.  Again this was another’s to lose (Ubaldo Jimenez) and indeed he has lost it, performing so badly in the last month that I considering dropping him from my fantasy team.  Wainwright is up there for consideration as well.  Latos, Josh Johnson, and Hudson are also having great seasons.

NL Rookie: Buster Posey.  Yes he only came up in june, but to immediately slot in as the catcher, calling games for a rotation of elite starters AND being  your teams cleanup hitter is impressive.  That they made the playoffs and eventually won the World Series with Posey at the helm is even more impressive.  In August this award was absolutely going to Jayson Heyward, but he tailed off and wasn’t nearly as exciting towards the end of the season as in the beginning.  Jamie Garcia is in third place; it is hard to argue with a potential Cy Young candidate.   Mike Stanton, Gaby Sanchez and even Stephen Strasburg were up for consideration at various times.  Mike Leake‘s accomplishments are pretty noteworthy (not a day in the minors and making the MLB rotation on a playoff-bound team).  Just a great rookie class in the NL this year.

NL Manager: Bud Black, though some serious consideration goes to Dusty Baker for the job he’s done in Cincinnati.  But (in a similar story to Texas) to take a team nearly dead last in payroll to the top of a division with big time talent is tough.  Bobby Cox has also done a nice job turning around Atlanta.

Photo by Doug Benc/Getty Images North America

As posted by other bloggers today, October 28th 2010, (especially in this post here on the Nationals Enquirer which rather eloquently titles their posting with the obvious consequence of Dunn’s Elias rating), the Nats dodged a huge bullet and will be fully compensated if Adam Dunn decides to leave via free agency (that is well, unless they do the unthinkable and fail to offer him Arbitration).  The official Elias Rankings came out and previous estimates on Dunn were slightly low (resulting in panicked posts by yours truly and others about his being a type B free agent and thus making our entire mis-handling of the contract extension even more egregiously bad).

Now, based on the rules of compensation (as explained in the Kilgore’s Nats Journal blog posting today), the first 18 picks of the 2011 draft are protected (usually first 15 but there’s a few compensation picks in there from failed draft picks in 2010).  So, IF Dunn is leaving (and the prevaling opinion seems to lean that way despite all realistic arguments against it…), what the Nats now root for is a team in the “bottom” half of the first round to be the signing team.  If this happens, we’ll get their 1st rounder AND a supplemental pick.  Otherwise we’re looking at the supplemental pick plus the signing team’s 2nd rounder.  That’s not nearly as nice of a haul frankly.

The first round draft order for 2011 goes like this, thanks to mlbtraderumors.com

Here’s the thing though; if Dunn is going to leave, then he needs to go to a team that:

a) Needs a first baseman and

b) Is REALISTICALLY in the market for Free Agents in general, and

c) Makes more sense for him to leave the Nationals for.  As in, why would he go from one last place team to another, unless the Nats insultingly refuse to offer him anything more than a 2yr deal.

Here’s a quick rundown on NL teams and their 1st basemen situation.  We focus first on the NL because of Dunn’s repeated statements that he’s not interested in becoming a full time DH.

• Nym: Ike Davis: an up and coming prospect, had a nice 2010.
• Phi: Ryan Howard: long term contract, anchor of the franchise.
• Fla: Gaby Sanchez: could be upgraded but it doesn’t matter, they’re not FA buyers.  Never are.
• Atl: Derrick Lee, who is a FA.  Troy Glaus also a FA but was awful this year. Could be a buyer, looking for a slugger to help them make the leap from WC to divisional champ.  Or they could depend on up and coming prospect Freddie Freeman.  Not listed as players in any of the early Free Agency predictions though.

• Stl: Albert Pujols; franchise player, obviously.
• Mil: Prince Fielder.  Milwaukee’s franchise player until his eventual trade/FA saga next season.
• Cin: Joey Votto; MVP candidate and not yet even to arbitration.  Best bargain in baseball right now.
• Chi: it was Derrick Lee til they traded him to Atlanta.  Possible FA buyers.  See below.
• Hou: it was Lance Berkman til they traded him.  But are they FA buyers?  I don’t think so.
• Pit: Garrett Jones: doesn’t matter, they’re not FA buyers; they’re the reason baseball has revenue sharing.

• Lad: James Loney: cost contained and home grown.  plus no FA $$ spent until ownership divorce settled.  Some reports seen saying they’ll trade Loney and go after Dunn, but sounds doubtful.
• Sdp: Adrian Gonzalez; San Diego’s marquee player.
• Sfg: Aubrey Huff: a FA and SF desperately needs hitters.  BUT Huff may have earned an extension based on his post season exploits both at bat and in the field where he’s a plus defender.  And the Giants (by virtue of a number of awful contracts) are payroll bound for the next few years.  Not major shoppers.
• Col: Todd Helton; signed through 2011, which will be the last of his 9 year contract.  His production is declining but they’ll want to stay flexible enough to go after the bumper 2011 1st basemen FA crop of Fielder, Gonzalez, and Pujols.  Won’t go after Dunn but will seek a 1-year FA.
• Ari: Adam LaRoche, who is a FA, but Arizona’s new GM values defense and doesn’t like Dunn.  Plus, they do have a decent 1B prospect in Brandon Allen.  Not buyers.

So, if he goes anywhere in the NL I think it could be either Atlanta, Chicago or (maybe) San Francisco.  Chicago already has some serious payroll issues and an underperforming team but has a ton of cash.  SF may not have the payroll flexibility to buy Dunn despite really needing him.  Atlanta only has $60M committed next year and has a bunch of arbitration cases … but they’ve spent over $100m on payroll as recently as 2 years ago and may expand it out again.

Adding in AL teams, looking at 1B solutions (I can’t see him signing up for a team that will ONLY DH him, so we have to look at teams where he splits time between 1B and DH).

• Bos: Kevin Youklis/Victor Martinez; but have a serious need for a DH if they don’t resign David Ortiz.  Interesting off season for Boston.  If they cut loose the legendary Ortiz, I can see them letting Beltre go, putting Youklis at 3rd, and then going after Dunn and selling him on splitting time between 1st and DHing when Victor Martinez needs a blow.  That’s an awful lot of “ifs” to work out though.  Update: The RedSox exercised the 2011 option on Ortiz, presumably removing them from the equation.
• Nyy: Mark Teixeira.  Plus, don’t the 2011 yankees have like 8 guys who might need to DH periodically?  My favorite subplot of the next few years is how the Yankees handle their aging core of players.  Jeter, A-Rod, Rivera, Posada, Pettitte and Rivera are all on the wrong side of 34, all make a ton of money and all need a position to play.  Where exactly does Jeter go when he cannot play SS anymore?
• Tam: Carlos Pena, a FA who will be allowed to walk.  However, Tampa won’t buy Dunn b/c they’re in massive payroll reduction mode.  I’m sure they’ve got some uber hitting prospect who will contribute an OPS+ of 140 next year.  They do have their 2010 minor league player of the year Dan Johnson, who hit THIRTY homers in AAA in just 98 games but he hasn’t exactly torn it up in his MLB experiences.
• Tor: Lyle Overbay, a FA who is 34.  Can’t see Toronto buying an aging FA w/ new GM in town who is focused on building the team the right way.
• Bal: Ty Wiggington: another aging mediocre FA.  Dunn would be *perfect* in Baltimore and at Camden, but are Orioles buyers?

• Det: Miguel Cabrera; locked in and coming off a great year.  However, they have nearly $60M coming off the books and may be looking for someone to bash and protect Cabrera.  Would mean that Dunn becomes a full time DH.
• Cws: Paul Konerko, a FA coming off a career year.  But, the consensus seems to be that the CWS won’t pursue Konerko (he’s 34 and clearly should start declining).  A dark horse candidate for Dunn.
• Min: Justin Morneau; franchise player, long term contract.
• Kc: Billy Butler; player of the future.
• Cle: Matt LaPorta, the future of this team right now and bounty from the CC Sabathia trade.

• Laa: Kendrys Morales; a key hitter whose injury helped derail their 2010 season.
• Oak: Daric Barton: up and coming hitter, only 24 but they’d never buy Dunn unless it was to flip him later.
• Sea: Russell Branyon/Casey Kotchman but they have Justin Smoak coming up (bounty for Cliff Lee).
• Tex: Had a rotating door post Smoak trade between castoff Cantu and rookie Chris Davis, but their 2009 minor league player of the year Mitch Moreland seems to have taken hold of the position.  9 homers in 47 games down the stretch plus he has come up huge in the post season.  Not buyers.  No wonder they were OK with letting Smoak go.

There’s many more AL options.  In various scenarios he could make sense for 5 or 6 AL teams.  At least Chicago, Baltimore, Boston, or Toronto.  Tampa if they weren’t going cheap.

My personal odds/guesses in order on where Dunn may go:

1. Chicago Cubs: makes the most sense and are already politicking for him.  However, rumors on the street at the start of free agency seem to indicate that the Cubs are standing pat.  They have new ownership in 2010 and a bunch of bad contracts.  After such an awful season how can the owners be compelled to throw good money after bad?
2. Chicago White Sox: instead of the North Side, he moves to the south side.  Some of the Foxsports.com team belives he’s heading here.  The White Sox won 88 games last year and may be looking to upgrade (and get younger) from Konerko.  Yes its AL, but he’d clearly be the first baseman.
3. Re-signs w/ the Nats; less likely since Rizzo can’t see the forest (40 home runs) for the trees (Dunn’s defensive liabilities).  And, he has to be insulted by the hemming and hawing that went on all season (not to mention the constant trade rumors, which clearly irritated him as the summer progressed).  There has been a 3-year deal on the table since at least August but Dunn has resisted.

Lesser possibilities but which could arise.

4. Atlanta: if the braves don’t trust prospect Freeman, they make perfect sense and Dunn would be walking into a playoff team ready to take the next step.
5. Houston; a return home  … but I don’t think they’re really shopping.
6. Detroit: A couple of Fox sportswriters seem to think he’s heading to Detroit.  If he does, its clearly a signal of defeat on his part because he’d immediately be a full time DH.
7. New York Yankees.  The Yankees do have a slight need for a DH, but it would take convincing Dunn to completely give up playing in the field as the Yankees are already stacked with future DHs.
8. Baltimore; Dunn may reach 700 career homers if playing in Camden Yards for the next 5 years with its short porch.  But, as mentioned before, if he decides to leave Washington (an up and coming franchise that could actually contend by the time his contract ends), why would he go to a place like Baltimore?  Baltimore is the 5th best team in a division that shows no signs of ever having an off year.  In fact, why would ANY marquee free agent ever go to Baltimore?
9. Oakland: listed by Ben Reiter as a dark horse for Dunn’s services.  Don’t see it.

Now, IF Dunn is absolutely leaving … who are the teams we’d be “rooting” to sign him?  Boston is best, but Atlanta or SF would be great too.  If he goes to these locations we’d own a mid-20s first rounder plus a supplemental.  If he goes to Chicago or Houston, we’re looking at a supplemental and an early 2nd rounder (or worse if these teams decide to sign TWO type-A free agents and the other is higher ranked than Dunn.  Under this scenario we’d get a supp-1st and the signing team’s 2nd rounder.  Not good).

Cliff Lee. Photo: Al Bello/Getty Images

As Cliff Lee continues to dazzle in the post season (his most recent effort being his 8inning, 2hit 13k gem against the most potent offense in Baseball, your NY Yankees), rumors of his purported price tag in the Free Agency market continue to reach spiraling heights.  The most common numbers thrown out start at 5yrs, $25M per.  One author at Forbes thinks he may approach $200M for 6 years combining salary and endorsements.

If you are trying to compare talent to contract value, then you have to start with the highest paid pitchers at current.  CC Sabathia is at $23M/year, Johan Santana is at $22.9M/year on average, and Roy Halladay took a slight discount to sign with Philadelphia (and be able to live in his offseason Odessa home 2 extra months of the year and drive to Spring Training) and is making $20M/year on his new deal.  Clearly, Cliff Lee has shown that he belongs at least at the $20M/year scale.  But how much higher makes sense financially for the signing team?

Forgetting for the moment that payroll means very little to a team like the New York Yankees (unfortunately his likely destination), lets talk about the value of the Free Agent contract and whether a team that gives out a $25M/year contract can ever really get their money’s worth.  Baseball is filled with horror stories of huge FA contracts that went bust.  Names like Zito, Dreifort, Pavano, Neagle, and Hampton fill general managers and fan’s heads with dispair.

How bad were these contracts?  I put together a spreadsheet with every significant starting pitcher FA contract that I could find, then cross referenced it by the Pitcher’s Won/Loss record during the duration of the contract.  See below: the table is sorted in reverse order of $/win.  In addition to the major FA contracts, I also arbitrarily added every “Ace” starter in the league, resulting in names like Lee, Jimenez, Price and Buchholz being in this list despite not being major FA pitchers (yet).  Their inclusion illustrates one of my major conclusions below.

Comment on Won/Loss records; yes I know that individual pitcher wins are not a great indicator of a starter’s worth.  However, they do reasonably indicate over the course of a longer term period the value of that pitcher to a team.  Perhaps a better argument is free agent dollars per quality start (despite the quality start measuring basically a mediocre start of 3ER or less in 6ip or more by a pitcher, it does generally correlate well to team wins andveven to a “real” quality start of 2ER or less in 6IP or more).  At some point I’ll re-run the analysis and count up QS per FA dollar to see how it compares.

Note for the purposes of this argument:

• The Contract total value is averaged over the life of the contract, even if the payments are different during different years.
• The W/L record is for the pitcher over the life of the contract, not necessarily for the original signing team.
• If the contract is current (i.e., runs from 2009-2012) then I’ve only counted the completed regular seasons.
• There are no off-season records taken into play.
• I entered in both Japanese Pitchers (Igawa and Matsuzaka) with massive posting numbers twice; one factoring the posting fee and the other not.  Without the fee Dice-K looks halfway decent but with it he’s overpriced (something all Boston fans probably already knew about their highly paid #5 pitcher).

Conclusions.

– If  you can get 1 win per $1M expended, you are doing about average it seems.  Anything above $1.25M and you are looking at a questionable contract.

– It is difficult to look at any contract below $1M/victory and say that the team made a bad deal.

– The absurdly low $/victory values for David Price and Clay Buchholz demonstrate as clearly as possible the value of the pre-arbitration superstar.  Tampa Bay (who did a similarly shrewd deal with Evan Longoria, buying out the arbitration years and tying the player to the club past the 6-year pre-FA window) now gets Cy Young-quality starts from Price for the next two years at 1/20th his market value.  Buchholz is even more evident; at a pre-arbitration salary of $443,000 for 2010, he went 17-7 and gave the Red Sox #1 starter capabilities.  On the open market he’s worth at least $15M/year at that level of productivity.

– The worst FA contract ever given to a starting pitcher wasn’t one of the aforementioned infamous culprets; it belongs to one Kei Igawa.  The Yankees paid the posting fee of $26M just to negotiate with him, then signed him to a 5 year, $20M contract.  For that outlay of $46M guaranteed, the Yankees have gotten a record of 2-4 over parts of two seasons, and he hasn’t appeared in a MLB game since June of 2008.  Luckily the Yankees can afford it; this kind of FA mistake would cripple a mid-to-small market team for years.

– Jason Schmidt‘s 3yr, $47M deal with the LA Dodgers is the largest $$ bust in terms of a pure FA play, not counting the vagarities of the Japanese posting system.  Schmidt had ironically just finished an incredibly efficient deal with San Francisco, where he went 71-36 over 5 seasons on a $40M contract (resulting in a very good $/win number of $563,380).  Six games into his Dodger career he went onto the DL list with shoulder injuries that eventually cost him the rest of 2007 and all of 2008.  He tried to regroup in 09, failed to make the team out of spring, made a few starts and was back on the DL.  All told, 3 wins in 10 starts for $47M.

– Some of the infamous deals do appear close to the top of this list; Neagle’s $51M for a 19-23 record.  Dreifort’s $55M deal resulting in a grand total of 9 wins and only 26 starts.  Ironically, the highest single season salary was Roger Clemen‘s $28M deal with New York in 2007.  For that money the Yankees got a middling 6-6 record.

– Are there any major FA deals that ARE paying off?  Well, you have to dig deep.  CC Sabathia has won 40 games for the Yankees in the first two years of his $23M/year deal, which is easily the best 9-figure deal.  However, it is early; we need to check back in years 6 and 7 of this deal.  Mussina went 92-53 for the Yankees after he signed his $88M deal in 2001.  Verlander won 18 games this year for his $16M annual salary and looks like a good bet to continue that trend.

– The BEST long term FA deal ever signed has to be Pedro Martinez‘s 6year $92M deal.  He went 117-37 between 1998-2004, won 3 Cy Youngs, had 2 Cy Young runners-up, and in the year 2000 posted an ERA+ of 291, which accounts for the best modern-day single-season pitching performance in the history of the game.

Bringing this back to Cliff Lee; the conclusion is thus; he may earn a $25M/year deal but the odds of his continuing to win 20-22 games/year for the duration of the contract and thus inflating the $/win value will eventually prove that contract to be an albatross (even more so if he misses significant time to injury at some point).

In a short series (if you went to a 3-man rotation in the playoffs, as lots of teams do), who scares you the most?

Candidates:

• Philadelphia: Halladay, Hamels and Oswalt
• Boston: Lester, Beckett, Buchholz.  tough.  If they were all performing that is.  Beckett seems off this year.
• NY Yankees: Sabathia, Burnett and Hughes; this was supposed to be Vazquez but once again the best rotation that money can buy, didn’t.
• St Louis: Carpenter, Wainwright and Garcia.  Wow.
• San Francisco: Lincecum, Cain and Zito/Sanchez/Bumgarner; again, that’s tough.
• Tampa Bay: Price, Garza, Shields (with Sonnanstine/Hellickson thrown in there).  Scary tough, which is why they’re beating out the Red Sox right now.

For my money, it has to be Philly slightly followed by St. Louis.  How is that team gonna get beat this off season?  Of course, they have to MAKE the playoffs for it to matter.  Ironic that the 3 best rotations in the AL are all in the east.  Chicago’s is decent but more veteran laden.  Texas’ starts with Lee and ends with a guy who was playing in Japan this time last year (Colby Lewis).  I don’t think Minnesota’s guys are scaring anyone.  How scary is it that Toronto has two guys with one-hitters this year (Marcum, Morrow) but is buried in FOURTH place in the AL east.  That’s a tough division.