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Free Agents Already Worth Their 2011 Salary

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This morning we looked at the top free agents in terms of ERA+ and OPS+, but that's a simplistic view of things. Teams are always looking for surplus value, which is the amount of production a player provides beyond his salary. That's why quality players in their pre-arbitration years are so valuable, they're the most bang for the buck.

FanGraphs puts a dollar value on every player's performance based on how much teams have paid for similar production on the free agent market in recent years. Using that data, let's see what free agents from this past offseason are already providing surplus value to the teams that signed them…

Position Players

  • Jack Hannahan, Indians – $500K salary, $5.3MM value ($4.8MM surplus)
  • Jeff Francoeur, Royals – $2.5MM salary, $6.4MM value ($3.9MM surplus)
  • Russell Martin, Yankees – $4MM salary, $6.1MM value  ($2.1MM surplus)
  • Lance Berkman, Cardinals – $8MM salary, $9.6MM value ($1.6MM surplus)
  • Melky Cabrera, Royals – $1.25MM salary, $2.6MM value ($1.35MM surplus)

Pitchers

  • Brandon McCarthy, Athletics – $1MM salary, $5.1MM value ($4.1MM surplus)
  • Bartolo Colon, Yankees – $900K salary, $2.4MM value ($1.5MM surplus)
  • Dustin Moseley, Padres – $900K salary, $2MM value ($1.1MM surplus)
  • Joel Peralta, Rays – $925K salary, $1MM value ($75K surplus)

Both Kevin Correia ($2.2MM value, $3MM salary) and Jeff Francis ($1.6MM value, $2MM salary) are a few good starts from joining the group. Orlando Hudson ($3.7MM value, $4MM salary) and Pat Burrell ($900K value, $1MM salary) are knocking on the door as well.

Thanks to Cot's Baseball Contracts for the salary info.

Rosenthal’s Full Count Video: Colletti, Hendry, Royals

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Ken Rosenthal of FOX Sports has a new Full Count video up, so let's dive in…

  • Ned Colletti is under contract as Dodgers GM through 2012, but he has an out-clause after that. MLB is unlikely to stand in the way if another team asks to interview him before then though.
  • The consensus is that the Cubs need to show some progress if GM Jim Hendry is going to keep his job beyond this season. The team's 14-17 start already has some in the game speculating about possible successors, which might include Colletti, former Diamondbacks GM and current Padres executive Josh Byrnes, and White Sox assistant GM Rick Hahn. If the ChiSox are worried about losing Hahn, Rosenthal says they could promote him to GM and promote Kenny Williams to club president.
  • Most expect the White Sox to "snap out of it," but if not, they could be a team to watch as the trade deadline approaches. One GM said Williams is not the type to "sit there in no man's land," so expect some rumblings about free agents to be Mark Buehrle and Edwin Jackson. Some believe Buehrle would only accept a trade to the Cardinals though.
  • Their most intriguing chips are John Danks and Carlos Quentin, who are under team control as arbitration-eligible players in 2012. Danks could bring a significant return.
  • The Royals could be quite busy if they remain in contention. The Zack Greinke trade and Gil Meche's retirement freed up significant cash, and the team could be both buyers and sellers. Wilson Betemit is expendable because of top prospect Mike Moustakas, possibly to the Marlins, and they could look to deal either Jeff Francoeur or Melky Cabrera. One thing they will need in return: bullpen reinforcements. The Kansas City bullpen is throwing a ton of innings.

Top Free Agent Starting Pitchers By ERA+

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Earlier this morning we looked at the top free agent hitters from this past offseason in terms of OPS+, and now it's time to look at the free agent pitchers using ERA+. Given the nature of their role, relievers are not included…

  • Dustin Moseley, Padres – 1.63 ERA (217 ERA+) – It's not just Petco Park, Moseley has a 3.75 ERA in two starts at home and a 0.68 ERA in four starts on the road.
  • Jorge de la Rosa, Rockies – 2.92 ERA (153 ERA+) – Several teams were interested in the southpaw, who re-upped in Colorado and continues to pitch well.
  • Bartolo Colon, Yankees – 3.00 ERA (134 ERA+) – What's more surprising: that Colon has been this effective, or that he's still pumping 94 mph gas?
  • Kevin Correia, Pirates – 2.91 ERA (134 ERA+) – Pittsburgh's Opening Day hurler has allowed two earned runs or less in five of his seven starts.
  • Brandon McCarthy, Athletics – 3.05 ERA (137 ERA+) – He also has the fifth best K/BB ratio (4.50) in the American League.
  • Bruce Chen, Royals – 3.59 ERA (109 ERA+) – Chen has finally found some staying power with his tenth big league club.
  • Cliff Lee, Phillies – 3.69 ERA (105 ERA+) – The winter's big prize whiffed 16 Braves last night, already his fourth double-digit strikeout game of the season.
  • Hiroki Kuroda, Dodgers – 3.69 ERA (100 ERA+) – Kuroda was a free agent but he never hit the open market; he agreed to re-sign with the Dodgers during the exclusive negotiating period.

It drops off quite a bit after that, Aaron Harang of the Padres is next on the list with an 81 ERA+ (4.37 ERA). Chris Young of the Mets has a 202 ERA+ (1.88 ERA), but he doesn't have enough innings to qualify for the league ERA title because he's spent some time on the disabled list.

Top Free Agent Hitters By OPS+

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The 2011 MLB season is a little more than a month complete, so let's take a quick look and see which free agent positions players have been the most productive at the plate using OPS+…

  • Lance Berkman, Cardinals – .392/.462/.775 (239 OPS+) – Puma's been the best hitter in the NL so far, enjoying a career resurgence in St. Louis.
  • Jeff Francoeur, Royals – .303/.343/.598 (163 OPS+) – Ben Nicholson-Smith wrote about the success of Dayton Moore's free agent signings yesterday.
  • Russell Martin, Yankees – .276/.382/.540 (154 OPS+) – The former Dodger has already hit more homers this year (six) than he did last year (five).
  • Paul Konerko, White Sox – .288/.358/.517 (140 OPS+) – Konerko didn't change teams, but he was on the open market and several other teams had interest.
  • Jack Hannahan, Indians – .264/.350/.440 (130 OPS+) – The only player here signed to a minor league deal, Hannahan's been worth every penny for the surging Tribe.
  • Pat Burrell, Giants – .239/.356/.443 (118 OPS+) – Another re-signing, at least one other team had interest in Pat The Bat this offseason.
  • Melky Cabrera, Royals – .285/.308/.453 (114 OPS+) -The Melkman has delivered for KC so far, giving Lorenzo Cain time to hone his skills in Triple-A.
  • Johnny Damon, Rays – .261/.292/.435 (107 OPS+) – Has stepped in as DH and been an above-average contributor after Manny Ramirez called it quits.
  • Adrian Beltre, Rangers – .238/.279/.460 (102 OPS+) – He's been a little inconsistent at the plate, but that brilliant defense at the hot corner is still very much there.

That's it, just eight free agents from this past offseason have been better than league average with the stick so far this season. Jayson Werth and Rod Barajas are just below that mark; they each check in at 99 OPS+. Orlando Cabrera and John Buck aren't far behind them at 97 and 96 OPS+, respectively.

Baseball Blogs Weigh In: Hosmer, Bell, Rizzo, Lowe

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On this date in 2004, Mike Piazza hit his 352nd career home run as a catcher, moving him past Carlton Fisk for the most homers hit by a player at the position in baseball history. Right-hander Jerome Williams of the Giants was the victim. Piazza retired after the 2007 season with 427 long balls to his credit, 396 of which came while donning the tools of ignorance. Here are this week's batch of links…

If you have a suggestion for this feature, Mike can be reached here. Only one email per week, please.

Bill Shaikin Interview With Frank McCourt

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Bill Shaikin of The Los Angeles Times sat down for a lengthy interview with embattled Dodgers owner Frank McCourt on Friday and posted the transcript today. McCourt discussed his meeting with Tom Schieffer, MLB's appointed trustee, as well as the league's investigation into the team's finances. Officials with MLB told him as recently as May of last year that the Dodgers "were a model franchise as far as our financial performance was concerned."

McCourt reiterated that he intends to maintain control of the team and again apologized to the Dodgers' faithful. Tim Brown of Yahoo! Sports offered up some more on the situation.

2012 Vesting Options Update

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It's the final day of the month, so let's check the status of the various vesting options around the league…

  • Bobby Abreu, Angels: $9MM option vests with 433 plate appearances. Abreu is more than a quarter of the way there already; he has 116 PA after today's game.
  • Rafael Furcal, Dodgers: $12MM option vests with 600 plate appearances. Furcal came to the plate 28 times before breaking his thumb. He's going to miss another three to five weeks, so he's unlikely to see the option vest.
  • Jon Garland, Dodgers: $8MM option vests with 190 innings pitched. Garland started the year on the disabed list and has thrown just 20 innings so far. He should still get there if he stays healthy.
  • Francisco Rodriguez, Mets: $17.5MM option vests with 55 games finished and if doctors declare him healthy at the end of the season. K-Rod has finished eight games so far, but you have to think the club will use him in a way to prevent the option from vesting.
  • Koji Uehara, Orioles: $4MM option vests with either 55 appearances or 25 games finished. Uehara has appeared in eight games and finished four, putting him on pace for 54 and 27, respectively.
  • Arthur Rhodes, Rangers: $4MM option vests with 62 appearances and if he's not on the disabled list at the end of the season. He's appeared in eight games so far, putting him on pace for 50. Injuries to the some of his bullpen mates could increase Rhodes' workload though.
  • Joakim Soria, Royals: $6MM option vests with 55 appearances. He's already appeared in 12 games and is on pace for 75.
  • Dan Wheeler, Red Sox: $3MM option vests with 65 games; increases to $3.25MM with 70 games. Wheeler has appeared in just eight games so far, so he'll have to start seeing more time for the option to kick in.

Adam Wainwright's 2012 ($9MM) and 2013 ($12MM) options will not vest because he will finish the season on the disabled list. Aramis Ramirez's option depends on MVP Award finishes and whether or not he's traded, not plate appearances or another counting milestone.

Mark Buehrle is scheduled to become a free agent after the 2011 season and although he doesn't have a traditional option in his contract, he gets an extra year at $15MM tacked onto his current deal if he's traded at some point this season. 

Thanks to Cot's Baseball Contracts for the info.

Indians Designate Jess Todd For Assignment

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The Indians have designated Jess Todd for assignment according to a team press release. The move clears a spot on the 40-man roster for Alex White, who will start today.

Todd, 25, was originally acquired from the Cardinals along with Chris Perez in the Mark DeRosa trade. The right-hander has appeared in 24 games with Cleveland since the deal, pitching to a 7.43 ERA with 9.1 K/9 and 3.4 BB/9. Todd has allowed 11 runs and 18 hits in nine relief innings with the Indians' Triple-A affiliate this year, walking as many batters as he struck out (six).

Largest Contracts In Draft History

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One year ago yesterday, we took a look at the largest contracts ever given to drafted players in MLB history. It's time for an update, just like our list of largest contracts by service time…

Major League Contracts

  1. Stephen Strasburg, Nationals (2009, 1st round, 1st pick): Four years, $15.1MM. His $7.5MM signing bonus is a draft record.
  2. Mark Prior, Cubs (2001, 1/2): Five years, $10.5MM. Prior exercised an opt-out clause that voided the final two years of the deal and instead filed for salary arbitration. He earned an extra $1.575MM by doing so.
  3. Bryce Harper, Nationals (2010, 1/1): Five years, $9.9MM. Includes a $6.25MM signing bonus that will be paid out in five installments.
  4. Mark Teixeira, Rangers (2001, 1/5): Four years, $9.5MM. His $4.5MM signing bonus was a draft record for six years. 
  5. David Price, Rays (2007, 1/1): Six years, $8.5MM. Price can opt-out of the contract and file for arbitration next season just like Prior did.
  6. Pat Burrell, Phillies (1998, 1/1): Five years, $8MM. The first of these mega-contracts for draftees.
  7. Dustin Ackley, Mariners (2009, 1/2): Five years, $7.5MM. There's another $2.5MM in incentives tied to how quickly he reached the majors. 
  8. Rick Porcello, Tigers (2007, 1/27): Four years, $7.285MM. There are club options for a fifth and sixth year. Porcello will actually collect just $7MM because he received the pro-rated portion of his salary after signing in 2007. The deal was designed to match but not exceed the number ten contract on this list.
  9. J.D. Drew, Cardinals (1998, 1/5): Four years, $7MM. Drew famously refused to sign with the Phillies as the second overall pick in the 1997 draft, as he and Boras stuck to their guarantee that he would not sign for less than $10MM.
  10. Josh Beckett, Marlins (1999, 1/2): Four years, $7MM. Beckett was the first high school player to receive a Major League contract since Alex Rodriguez in 1993.

Eric Munson's four-year, $6.75MM deal with the Tigers in 1999 dropped out of the top ten thanks to Harper. He received a $3.5MM signing bonus as the third overall pick.

Minor League Contracts

  1. Jameson Taillon, Pirates (2010, 1/2): $6.5MM
  2. Donavan Tate, Padres (2009, 1/3): $6.25MM
  3. Buster Posey, Giants (2008, 1/5): $6.2MM
  4. Tim Beckham, Rays (2008, 1/1): $6.15MM
  5. Justin Upton, Diamondbacks (2005, 1/1): $6.1MM
  6. Matt Wieters, Orioles (2007, 1/5): $6MM
  7. Eric Hosmer, Royals (2008, 1/3): $6MM
  8. Joe Borchard, White Sox (2000, 1/12): $5.3MM
  9. Manny Machado, Orioles (2010, 1/3): $5.25MM
  10. Zach Lee, Dodgers (2010, 1/28): $5.25MM

Joe Mauer ($5.15MM as the first overall pick in 2001) and B.J. Upton ($4.6MM as the second overall pick in 2002) dropped out of the top ten thanks to Taillon, Machado, and Lee. 

Dead Money: Paying Players To Play Elsewhere

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Eating money in trades or by releasing players is far from an ideal business practice, but sometimes it's a necessary evil. The Mets believe they are better off paying Oliver Perez and Luis Castillo a combined $18MM not to be on their team this year, and released the two just last month. David Wharton of The Los Angeles Times wrote about the concept of "dead money" today, speaking to Dodgers GM Ned Colletti, sports economist J.C. Bradbury, and Scott Boras.

With some help from Cot's Baseball Contracts, let's look at the teams that are paying players to be anywhere but on their roster this season…

This doesn't include money the Braves owe Kenshin Kawakami ($7.4MM) or the Yankees owe Kei Igawa ($4MM). Both Japanese imports remain in the organization, but they've since been banished to the minor leagues. It also doesn't include all the money the Mets famously owe Bobby Bonilla for the next two decades.

Yuniesky Betancourt is the only player collecting paychecks from three different big league teams at the moment, but Carlos Silva could join him if he's called up by the Yankees. Gary Matthews Jr. could also be in that mix if he catches on somewhere this summer.

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