Checking In On Former Rays Relievers

Six prominent Rays relievers hit free agency and signed elsewhere for a total of $67.65MM last offseason (for reference, the Rays’ payroll has surpassed that figure exactly once since 2000). We know how the Rays' new 'pen is working out (pretty well, so far) but let’s check in on last year’s relievers:

• Rafael Soriano – three years/$35MM, Yankees – After allowing 12 earned runs and 14 walks in 62 1/3 innings last year, Soriano has allowed 9 earned runs and 9 walks in 14 innings this year. His ERA is approaching 6.00, his strikeout rate is down and his walk rate is up. What's more, he underwent an MRI on his right elbow this week. It doesn't appear that he'll need DL time, as there's only mild inflammation. Still, Brian Cashman must be shaking his head over this one.
• Joaquin Benoit – three years/$16.5MM, Tigers – Benoit has already allowed more earned runs (10) in 2011 than he did all of last year (9). After allowing just 30 hits in 60-plus innings last year, he has allowed 17 hits in 13 2/3 frames for his new club. The spike in hit rate is no doubt related to the fact that opponents had an improbably low average on balls in play against Benoit last year (.192) that has since risen to an unusually high level (.356). His strikeout (7.2 K/9) and walk (2.6 BB/9) numbers have fallen off, though they're still strong. 
• Grant Balfour - two years/$8.1MM, Athletics – Balfour's walks are up, but he is still striking out over a batter per inning and his ERA is under 2.00.
• Dan Wheeler – one year/$3MM, Red Sox – Wheeler, currently on the DL, has an 11.32 ERA for the Red Sox despite an 8K/1BB ratio through 11 appearances. Wheeler appears to be unlucky in terms of opponents' batting average on balls in play (.389) and home run per fly ball rate (21%).
• Chad Qualls - one year/$2.55MM, Padres – Qualls has replaced Ryan Webb in the Padres' 'pen and has already pitched 20 2/3 innings. The results are good so far despite a drop in Ks, as Qualls has limited baserunners and been considerably more fortunate than he was in 2010.
• Randy Choate – two years/$2.5MM, Marlins – Choate has been excellent so far; the lefty specialist has an 11K/2BB ratio and a 1.50 ERA in his first 14 appearances as a Marlin.

The early results are disappointing, as Wheeler and Soriano are dealing with injuries and Benoit hasn’t come close to replicating his 2010 performance. The results will likely improve for Wheeler and Benoit, who have been unlucky so far. But this group probably won’t reproduce the 2010 performances that helped the Rays win the AL East. Reliever performance is simply volatile, even for pitchers who appear to be safe investments.