The Dodgers have brought Teoscar Hernández back on a three-year deal. The Republik Sports client is reportedly guaranteed $66MM, including a $23MM signing bonus. There is $23.5MM in deferred money, while the deal includes a $15MM team option (or a $6.5MM buyout) for the 2028 season. He’ll receive a $10MM salary next season, $7.5MM of which is deferred. Another $8MM of his respective $12MM and $14.5MM salaries for 2026 and ’27 are also deferred. The deferrals reportedly reduce the contract’s net present value to roughly $58.1MM.
Hernández, 32, gets the three-year deal he’d been seeking. The slugger had called returning to the Dodgers a priority after a huge first season with the team. Hernández slashed .272/.339/.501 with 33 homers across 652 plate appearances. He carried that strong production into the postseason, hitting three longballs with a .250/.352/.417 slash over 16 games to help the Dodgers secure their second championship in five years.
This was the ideal outcome for a player on a pillow contract. Hernández had reached free agency last winter on the heels of a middling season in Seattle. He had turned in a .258/.305/.435 slash over 678 plate appearances as a Mariner. As a result, Hernández didn’t find the lucrative long-term offer he’d been seeking. While the Red Sox offered him a two-year deal that would’ve come with a $28MM guarantee, he signed for one season on a deferred $23.5MM salary with the goal of reestablishing his market value.
It couldn’t have worked out much better for either side. Hernández had one of the best seasons of his career. He earned his second All-Star nod and Silver Slugger award while picking up down ballot MVP votes for the third time. Hernández established a new career high in home runs with rate stats that were in line with his best years in Toronto. He was an instrumental part of a championship roster.
The down year in 2023 looks like an anomaly. He’s hardly the only veteran hitter to struggle in Seattle’s extremely pitcher-friendly home park. Hernández has been an impact hitter in each of the other four seasons since his breakout in 2020. Over the past five years, he owns a .274/.328/.493 batting line in nearly 2700 trips to the plate. There’ll be a decent number of strikeouts, but few players hit the ball as hard as he does. Hernández is an annual threat for 30+ doubles and at least 25-30 homers.
Hernández was the only key offensive player whom the Dodgers feared losing in free agency. He’ll return to join Shohei Ohtani, Mookie Betts, Freddie Freeman, Will Smith, Max Muncy, Tommy Edman and Gavin Lux in a loaded offense. The Dodgers added Michael Conforto on a one-year, $17MM contract at the Winter Meetings. No other team rivals the potency of the L.A. lineup.
The Dodgers are taking on some risk from a defensive perspective. Despite plus arm strength and surprisingly strong athleticism, Hernández has never graded as a good defender. That continued this season. Defensive Runs Saved felt he was three runs below par in his 1308 combined innings between the corner outfield spots. Statcast rated him much more harshly, estimating he was 11 runs below average.
Hernández isn’t likely to improve on a contract that runs through age 34. An ideal landing spot would’ve allowed him to move to designated hitter in year two or three. That’s not an option on a team with Ohtani. The Dodgers are moving Betts to shortstop and will have Hernández and Conforto flanking Edman in the outfield. They’ll accept a mediocre defensive unit for the chance to stack with the lineup with good hitters.
Adding Conforto and re-signing Hernández blocks the path to everyday at-bats for youngsters Andy Pages and James Outman. The latter feels like a change of scenery candidate after a disappointing second MLB season. The Dodgers will probably be less inclined to move the 24-year-old Pages, who had a league average .248/.305/.407 showing as a rookie. He still has a minor league option remaining, so they could start him in Triple-A if they don’t want to limit him to fourth outfield work.
Pages doesn’t have anything else to prove in the minors, but the Dodgers have the resources to continue loading up. Other teams figure to at least try to pull him away via trade, though L.A. could prefer to hold him as a replacement for Conforto after next season. Signing Blake Snell and retaining Blake Treinen earlier in the winter leaves the Dodgers without any clear holes on the roster.
At the start of the offseason, MLBTR predicted Hernández would receive a three-year deal at $60MM. He’ll land slightly above that forecast in raw money, though the deferrals will reduce the net present value to a hair below it. A three-year, $66MM deal without deferrals would have come with a $22MM competitive balance tax hit. Hernández’s number ends up around $19.4MM.
Including Hernández, RosterResource calculates the Dodgers’ luxury tax number around $353MM. They’re well beyond the $301MM mark that represents the final tier of penalization. They’re taxed at a 110% rate on the final AAV. Re-signing Hernández will likely cost them upwards of $40MM next year after taxes. The Dodgers have been undeterred by the CBT as they push for a repeat.
Hernández had declined a qualifying offer. Other teams would have needed to forfeit a draft choice to sign him. The Dodgers only relinquish the right to receive a 2025 compensation pick, which would have come after the fourth round. The Blue Jays and Red Sox had also been linked to Hernández this winter. Those clubs (especially Toronto) could turn to Anthony Santander, who stands as the clear top unsigned outfielder. Jurickson Profar is a tier or two below that as the next-best outfield bat.
Yancen Pujols first reported that Hernández and the Dodgers were finalizing a three-year, $66MM deal. Chris Cotillo of MassLive confirmed there was an agreement in place. ESPN’s Jeff Passan first reported the $15MM option for 2028, as well as the signing bonus and the approximate $23MM in deferrals. Fabian Ardaya of The Athletic reported the salary and deferral breakdown. Jon Heyman of the New York Post had the final NPV.
Image courtesy of Imagn.
