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This Date In Transactions History: The $300MM Man(ny)

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It has been exactly one year since the biggest signing in the history of the San Diego franchise became official. The team stunningly pulled in former Orioles and Dodgers third baseman/shortstop Manny Machado on a 10-year, $300MM contract. The deal easily trumped the Padres’ previous record contract – the eight-year, $144MM pact they awarded first baseman Eric Hosmer in February 2018.

Along with outfielder Bryce Harper, Machado entered last winter’s free-agent market as one of the most ballyhooed free agents of all-time. The two made for rare in-their-prime superstars to get to that stage, but it took quite some time for either to find landing spots. Unlike this offseason, free agency moved at a glacial pace then, leaving Machado and Harper without teams until almost March. However, both ultimately inked two of the richest contracts free agency has seen (Harper’s $330MM guarantee still stands as the largest ever awarded on the open market).

When Machado became a free agent, expectations were he’d sign with a big-spending team like the Yankees, but they and others decided to go in another direction. And Machado didn’t do himself any favors when he said during the prior fall that he’s “not the type of player that’s going to be ’Johnny Hustle.’” Nevertheless, he arrived on the market as an incredibly accomplished player.

Upon getting to free agency, Machado was a 26-year-old with four All-Star nods and two Gold Gloves under his belt, and he showed he could handle both short and third with aplomb. Furthermore, from his first full season in 2013 through 2018, Machado batted .283/.337/.489 with 168 home runs, accounting for the seventh-highest fWAR among position players (28.9). For the most part, he was also rather durable in that span, twice appearing in 162 games in a season and amassing at least 150 appearances five times.

Machado’s sturdiness continued in his first season as a Padre in 2019, when he took part in 156 games. The longtime shortstop did see time there, but only because stellar youngster Fernando Tatis Jr. missed a significant amount of action thanks to injuries. The plan was (and continues to be) for Machado and Tatis to form one of the premier left sides of the infield in baseball. When healthy, there’s a case they did just that, though Machado’s first year in San Diego was arguably somewhat disappointing. Primarily a third baseman, Machado took 661 plate appearances and hit .256/.334/.462 – good for a slightly above-average 108 wRC+. That comes off as pedestrian in comparison to some of his past seasons, yet he still mashed 32 homers and recorded 3.1 fWAR.

Most teams would sign up for the type of production Machado offered in 2019 from their third basemen. However, the Padres probably wanted more bang for their buck in the first season of a $300MM contract. Perhaps the Padres will get it this season, as Machado has shown an ability in the past to bounce back from seasons that have been so-so by his standards (compare his 2017 to his 2018, for example). If he returns to elite form, it would only help the Padres in their quest to break what’s now a 13-year playoff drought.

Photo courtesy of USA Today Sports Images.

Realmuto On Arbitration Process, Contract Outlook

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Star Phillies catcher J.T. Realmuto expressed disappointment today — not with his earnings or with the team, but with the process — after learning he had lost his arbitration case against the ballclub. Matt Breen of the Philadelphia Inquirer was among those to collect Realmuto’s thoughts.

Realmuto says he’s “fortunate” to earn a hefty $10MM salary, but said he’s “disappointed in the system more than anything.” He had sought a $12.4MM salary, with his side arguing that he ought to be compared as much to other high-quality position players as to prior catchers.

The hope, says Realmuto, was “to advance it a little bit and do something for future catchers.” Calling the system “outdated,” he criticized the fact that “there’s a separate catchers’ market.”

Realmuto ran into some of the same problems some other players have had with breaking up the strange forms of arbitration. Just as Josh Hader failed to convince a panel that he shouldn’t be undervalued just because he didn’t have a lot of saves, Realmuto struggled to pull away from the gravitational field of prior catcher salaries.

While the Phils will save some cash this year, don’t expect Realmuto to lower his sights when it comes to working out his first multi-year contract. That’s not out of bitterness — Realmuto didn’t express any disdain for the Phillies — but the same business-oriented approach that led him to take his arb case to a hearing. The arbitration process “doesn’t change anything from my outlook,” he said.

So, how likely is a deal? Realmuto says he “can’t predict the future.” He did express an ongoing interest in holding discussions with the team but wasn’t interested in handicapping the outcome. “Whether it matches up or not, that’s to be determined,” says the two-time All-Star.

The big question remains just what price Realmuto will demand — and how far the Phillies will stretch to keep him from reaching the open market. Breen joins Jon Heyman of MLB Network (video link) in suggesting that Realmuto’s camp would like to top the catcher-record $23MM annual value achieved a decade back by Joe Mauer. And Heyman says he expects Realmuto to look for a seven-year term.

It’s frankly tough to imagine the Phillies reaching to that level to lock up Realmuto with a year to go before free agency. Even on the open market, that level of annual salary and length of term seems like a reach for a player who’ll turn 30 before opening the 2021 season. Mauer’s monster deal is outdated, it’s true, but he was at the time a perennial MVP candidate and was also still just 27 years of age. If Realmuto is earn that sort of AAV over a significant term, he may need to log a big all-around season and market his services to all thirty teams next winter.

Camp Battles: Braves’ Third Base Situation

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The Braves had a better third base setup than the vast majority of major league teams a year ago. Josh Donaldson, whom they signed to a one-year, $23MM contract heading into 2019, finished as one of the most valuable players at his position. In his first (and maybe only) season in the National League, the former AL MVP hit .259/.379/.521 with 37 home runs and 4.9 fWAR in 659 plate appearances. His contributions helped the Braves to a 97-65 record and their second straight NL East title, but they’re now facing life without him as the new season nears.

Atlanta’s hope was to retain Donaldson after his productive 2019, but the club was unable to pull off the feat. The 34-year-old instead went back to the AL, where he had previously played with the Athletics, Blue Jays and Indians, on a four-year, $92MM contract with the Twins. Donaldson’s loss leaves a serious void in the Braves’ lineup, but they’re hoping to somewhat fill his offensive void with outfielder Marcell Ozuna, whom the club inked to a one-year, $18MM contract a few weeks back. But what of third base? Well, the Braves have a couple options there, though they’ll have a very hard time making anyone forget about Donaldson. Let’s explore who’s in the mix…

  • Johan Camargo: An underrated producer in 2018, the switch-hitting Camargo posted 3.3 fWAR while seeing time at both positions along the left side of the Braves’ infield. The 2019 campaign didn’t make for much of an encore, though, as Camargo batted a miserable .233/.279/.384 with seven home runs and minus-0.5 fWAR in 248 plate appearances. Perhaps it wasn’t that surprising; after all, while Camargo registered good bottom-line results from 2017-18, his Statcast numbers lagged well behind in both years. He only put up a .282 expected weighted-on base average in ’19, which didn’t fall that far behind the .304 and .310 marks he recorded in the prior two seasons.
  • Austin Riley: The 41st overall pick of the Braves in 2015, Riley earned his first major league promotion last May, at which point he was considered one of the absolute best prospects in the sport. Riley began with a flourish in the bigs, but his numbers trailed off significantly as the year progressed. The 22-year-old spent the majority of his season in left field and slashed .226/.279/.471 over 297 trips to the plate. Riley exhibited impressive power (18 homers. .245 ISO), but his strikeout and walk numbers left plenty to be desired. He fanned in 36.4 percent of plate appearances and drew free passes just 5.4 percent of the time. Both figures are going to have to improve if he’s going to turn into a viable major league regular.

The Braves continue to look like one of the most talented teams in the NL, but if Camargo and Riley fall flat this year, it could help lead to a fall in the standings. The Braves could still bolster their third base situation via trade, though, as they’ve been connected to the Rockies’ Nolan Arenado and the Cubs’ Kris Bryant in recent months. It doesn’t appear either star will wind up on the move before the season, but perhaps Atlanta will revisit acquiring them if the team’s not happy with its production at third during the first half of the season.

Victor Alcantara Receives 80-Game PED Suspension

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Free agent righty Victor Alcantara has received an 80-game suspension, per a league announcement. He tested positive for banned perforrmance-enhancing drug stanozolol.

Alcantara, 26, had appeared in each of the past three MLB campaigns. He was cut loose by the Tigers at the end of the 2019 season and had not yet signed on with another organization.

While he gets a good number of groundballs with his 94 mph sinker and carries a decent lifetime 10.5% swinging-strike rate (about average for a starter), Alcantara hasn’t found consistent success in the majors. Through eighty total frames, he carries a 4.28 ERA with 5.6 K/9 and 2.8 BB/9 along with a 52.3% groundball rate.

It was never likely Alcantara would land a major league deal, but he was also an obvious candidate to get a non-roster shot. No doubt he’ll still command another opportunity, though he’ll need to serve his suspension upon joining a new team.

Marco Estrada Preparing For Rebound Effort In 2020

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We haven’t heard much from veteran righty Marco Estrada since he was cut loose by the Athletics last year. At the time, he was struggling to deal with back issues that more or less took his entire 2019 season.

The 36-year-old hasn’t given up his hopes of a return to the majors. Estrada is still working to get back to full strength and overcome those back maladies, MLBTR’s Steve Adams reports on Twitter.

Estrada has already begun chatting with a few potentially interested clubs. He’s not going to be a candidate to work at full speed on Opening Day but is hopeful of being ready by the summer — perhaps as soon as June.

While health questions have dogged Estrada for some time, he had thrown plenty of innings until things got worse last year. From 2014 to 2018, Estrada averaged 167 frames of 4.27 ERA pitching annually.

Even after a tough 2018 effort, Estrada commanded a $4MM guarantee from the A’s last winter. He’s all but certain to field minor-league offers this time around, but could certainly be a worthwhile target for the right team if he shows that he’s in good form once his rehab is complete.

Phillies, Hector Neris Avoid Arbitration

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1:38pm: The option is priced at $7MM, per Jon Heyman of MLB Network (via Twitter), but that value can move significantly north. It’ll cost an extra $50K for every five games finished, beginning at his 10th and ending at his 35th. The needle moves $100K at 40, 45, and 50 games finished. And the option price jumps $200K at numbers 55, 60, and 63. That adds up to $1.2MM in total potential escalators.

9:42am: The Phillies have announced their agreement with Neris, revealing that the contract also contains a club option for the 2021 season. That it’s not a straight one-year pact perhaps explains the reason that the team broke from the file-and-trial approach. If the team ultimately declines the option, Neris would still remain under club control as an arbitration-eligible player.

7:35am: The Phillies have avoided an arbitration hearing with right-hander Hector Neris, Jim Salisbury of NBC Sports Philadelphia reports (via Twitter). The last-minute settlement will guarantee Neris a $4.6MM salary for the upcoming season. Neris settled slightly below the midpoint between his own $5.2MM submission and the club’s $4.25MM counter.

Neris, 30, racked up 28 saves as the Phillies’ primary closer in 2019, pitching to a strong 2.93 ERA with averages of 11.8 strikeouts, 3.2 walks and 1.33 home runs per nine innings pitched. He appeared in 68 games and tallied 67 2/3 innings en route to an impressive rebound effort from a down year in 2018. He’ll be eligible for arbitration for a third and final time next winter before reaching free agency in the 2021-22 offseason.

The one-year arrangement represents a rarity in today’s arbitration environment. Virtually all clubs utilize a “file and trial” approach to the process — meaning that once figures are exchanged with a player, negotiations on a one-year settlement cease, leaving the two sides to determine the player’s salary in a hearing. (Multi-year deals are typically still negotiated if there’s mutual interest, however.) Astros outfielder George Springer also avoided arb on a one-year deal last month, although that agreement was seemingly negotiated directly with owner Jim Crane after he dismissed president of baseball operations Jeff Luhnow.

The Phillies won an arbitration hearing over All-Star catcher J.T. Realmuto yesterday, thus keeping his salary at the $10MM figure they submitted — as opposed to Realmuto’s own $12.4MM submission. With their arbitration cases now resolved, the Phillies should check in with a bottom-line payroll just north of $182.5MM and roughly $203.9MM in luxury tax commitments (per Roster Resource’s Jason Martinez). That leaves them just over $4MM shy of the luxury tax barrier.

With Neris’ salary now in place, the last pending arbitration result is that of D-backs closer Archie Bradley (as reflected in MLBTR’s 2020 Arbitration Tracker).

Mariners Claim Taylor Williams, Designate Phillips Valdez

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The Mariners have claimed reliever Taylor Williams off waivers from the Brewers, per a club announcement. The Seattle org designated fellow 28-year-old righty Phillips Valdez to create roster space.

Williams, who recently lost his spot in the Milwaukee bullpen mix, seemed like a possible waiver target. While the hard-throwing righty hasn’t yet entrenched himself in a MLB relief unit, he turned in 54 innings of 2.83 ERA ball at the Triple-A level last year. He racked up 9.5 K/9 against 3.5 BB/9 while carrying a strong 54.0% groundball rate.

As for Valdez, he was claimed earlier in the winter but didn’t last long in camp before losing his roster spot. If he clears waivers, he’ll presumably remain on hand as a non-roster player. Valdez debuted in the majors last year, recording 16 innings of 3.94 ERA ball, but spent most of the year as a swingman at Triple-A. He worked to a 4.92 ERA with 7.4 K/9, 4.1 BB/9, and a 51.6% groundball rate in 78 2/3 innings of action in the PCL.

Rockies Sign Daniel Bard

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Daniel Bard’s latest comeback attempt is officially underway. The former Red Sox reliever has agreed to a minor league deal with the Rockies and will had to Major League camp, per Patrick Saunders of the Denver Post (Twitter link). The Boston Globe’s Pete Abraham reported last week that Bard was working toward a comeback.

Now 34 years old, Bard once looked like a potential closer in waiting for the Red Sox. The No. 28 overall pick in the 2006 draft debuted in 2009 and made an immediate impact with a 2.88 ERA, 9.7 K/9, 3.5 BB/9 and 0.7 HR/9 in his first 197 innings. Control issues arose soon after, though, and spiraled into a full-blown case of the Yips. Bard averaged 6.5 walks per nine innings pitched and posted a 6.22 ERA in 2012, and his career went completely off the rails following that effort.

Bard missed time with an abdominal injury in 2013 and pitched only a combined 16 1/3 innings between the Majors and Triple-A — walking a staggering 27 batters in that span. Winter ball in the 2013-14 offseason and a brief stint with the Rangers in 2014 only confirmed that Bard’s control had vanished; Bard walked 18 of the 31 hitters he faced between the Puerto Rican Winter League and his quick run with the Rangers’ Class-A club. He embarked on comeback attempts with the Cardinals and Mets in 2016-17 but encountered similar results.

With the Rockies, it’s anyone’s guess as to whether the righty can tap into the talent that once made him such a well-regarded young pitcher. Colorado’s bullpen has more than its share of highly compensated, underperforming veterans — Wade Davis, Bryan Shaw, Jake McGee — but the Rox coaxed varying levels of success out of Scott Oberg, Carlos Estevez and Jairo Diaz. There should still be a spot or two up for grabs, but it also wouldn’t be a surprise if the Rockies brought Bard along slowly and eased him back into pro ball with some minor league work before considering him for the big league bullpen.

Luis Severino Shut Down Due To Forearm Discomfort

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11:05am: Boone said this morning at Yankees camp that Severino will travel to New York and undergo another series of tests on Monday (Twitter link via The Athletic’s Lindsey Adler).

February 21, 9:10am: A pair of MRIs and a CT scan have all come back negative, general manager Brian Cashman told reporters yesterday (video link via MLB.com). For now, Severino has been placed on a new anti-inflammatory and will be reevaluated in a few days’ time.

February 20: In yet another bit of troubling injury news for Yankees fans, manager Aaron Boone revealed Thursday that right-hander Luis Severino is experiencing forearm soreness that dates all the way back to his final ALCS appearance in 2019 (Twitter links via MLB.com’s Bryan Hoch).  Severino also has a loose body in his elbow, per Boone.  He’ll be shut down for at least the next few days and will be examined by team physician Dr. Chris Ahmad tomorrow.  Asked if Severino would be ready for Opening Day, Boone could only reply, “We’ll see.”

While tomorrow’s doctor visit will shed more light on the specifics of Severino’s issue, obviously this isn’t at all how the righty hoped to begin his Spring Training, especially not in the wake of what was essentially a lost 2019 season.  Severino pitched only 20 1/3 total innings (12 in the regular season, 8 1/3 in the postseason) last year after a shoulder injury and then a lat strain kept him from making his season debut until September 17.

Any mention of a forearm injury also raises the specter of Tommy John surgery, the worst-case scenario that would sideline Severino until Opening Day 2021 at the earliest.  Back in 2016 (and on the updated list in 2017), MLBTR contributor Bradley Woodrum created a model for predicting what pitchers are the largest risks for TJ surgeries, with Severino ranking as having a better-than-average chance at a future procedure in both rankings.

It was a little over one year ago that Severino signed a four-year, $40MM extension that has yet to yield any return for the Yankees.  The deal covered Severino’s four arbitration-eligible years (and, via a club option for 2023, the first of his free-agent seasons) so the Yankees gained some cost certainty with the extension, though it did boost the right-hander’s luxury tax number over the course of the next four seasons.  While a $10MM average annual value is small potatoes for a big-market team like New York, every extra dollar is impactful for Competitive Balance Tax purposes, considering the Yankees were over the luxury tax threshold in 2019 and are currently projected to soar well over the highest luxury tax penalty threshold of $248MM in 2020.

With James Paxton already out of action until at least May, the Yankees’ rotation would take a further hit if Severino is required to miss any time.  Gerrit Cole, Masahiro Tanaka, J.A. Happ are the projected top three in the rotation, with a group that consists of Jordan Montgomery, Luis Cessa, Deivi Garcia, Michael King, and Jonathan Loaisiga now potentially battling for two rotation spots, rather than just the fifth starter’s role in Paxton’s absence.

Archie Bradley Wins Arbitration Hearing Against Diamondbacks

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Diamondbacks closer Archie Bradley won his arbitration hearing against the team, ESPN’s Jeff Passan reports (via Twitter). He’ll earn the $4.1MM salary figure submitted by his representatives at the BBI Sports Group rather than the $3.625MM sum proposed by the D-backs. That’s a $2.27MM raise over last season’s $1.83MM salary. Bradley will be eligible for arbitration for the final time next winter before becoming a free agent in the 2021-22 offseason.

The 27-year-old Bradley, the No. 7 overall draft pick back in 2011, never quite panned out as a starter but has found his groove in a relief role. The righty has gradually been entrusted with increasing amounts of high-leverage innings and eventually supplanted Opening Day closer Greg Holland as Arizona’s top ninth-inning option in 2019. Overall, he pitched to a 3.52 ERA with 18 saves, 10.9 K/9, 4.5 BB/9, 0.63 HR/9 and a 45.2 percent ground-ball rate. He’s the clear favorite for save opportunities heading into the 2020 season.

Since moving to the bullpen full time in 2017, Bradley has helped to anchor the Arizona bullpen with a 2.95 ERA (3.24 FIP) and 10 strikeouts per nine inning pitched over the course of 216 1/3 innings. He’s appeared in at least 63 games and pitched at least 71 2/3 innings in each of those three seasons. As it stands, he’s slated to hit the open market in advance of his age-29 campaign, so if he continues on his current trajectory without incurring a significant injury, his age should put him in position for a relatively handsome payday.

With Bradley’s victory and this morning’s last-minute settlement by Phillies closer Hector Neris ($4.6MM with a 2021 club option), all of this year’s arbitration cases have now been resolved. Teams rushed out to an early 4-0 lead over the players but ultimately wound up at a more balanced 7-5 when all was said and done. Now that all of this year’s cases are in the books, you can see the full slate of pre-trial agreements, extensions and hearing outcomes in MLBTR’s 2020 Arbitration Tracker.

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