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MLB Faith And Hope Report: 2021

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In Andrew Zimbalist’s 2006 book In The Best Interests Of Baseball?, he wrote:

“[Commissioner Bud] Selig had a pet phrase that makes considerable sense: the fans of each team need to have ’faith and hope’ that their team has a chance to win at the beginning of each season. Without this faith and hope, fans will eventually lose interest, and the game will suffer.”

After reading that in 2019, I was inspired to create an annual Faith And Hope Report here at MLB Trade Rumors, so we can put a number on how many teams are competitive and track it over time.  70% of teams had hope in 2019 by my estimate.  Given the strange nature of the 2020 season, I skipped that year.  To make this assessment for 2021, I’ll be combining FanGraphs’ projected playoff odds with my own common sense, and there is subjectivity involved on the borderline teams. I’ll elaborate on those later in this post.

Teams that enter the 2021 season with faith and hope: Dodgers, Padres, Yankees, Mets, Astros, Braves, White Sox, Twins, Blue Jays, Brewers, Angels, Red Sox, Athletics, Cardinals, Rays, Cubs, Reds, Nationals, Indians, Phillies, Royals, Giants, Marlins

Teams that enter 2021 without faith and hope: Rangers, Pirates, Rockies, Orioles, Tigers, Diamondbacks, Mariners

Conclusion: 76.67% of MLB teams have faith and hope of contending in 2021.

Arguable teams:

  • The Royals have a 8.9% chance at making the playoffs, with a 78 win projection.  As a team that very clearly worked to get better in the offseason and could make further additions at the trade deadline, they belong in the contender category.
  • With a 5.2% chance at the playoffs and a 76 win projection, the Giants are a tough one.  With the Dodgers and Padres in their division, their playoff chances rest almost entirely on grabbing one of the NL’s two Wild Card spots.  Their offseason involved some decent veteran contracts, including an accepted qualifying offer for Kevin Gausman and almost $42MM in additional commitments.  I’d say there’s some faith and hope for their fanbase this year.
  • The Mariners have a projected 2.7% shot at the playoffs and a 74 win projection.  It wasn’t a particularly aggressive offseason, and one of their bigger acquisitions, Ken Giles, won’t pitch this year.  They did add James Paxton, Rafael Montero, and various smaller pickups.  This isn’t a playoff caliber team and I sense that they’ll truly go for it in 2022, so I am going to nudge them into the non-contender category.
  • The Diamondbacks have a 1.6% chance at the playoffs and a 72 win projection, and like the Giants they’re hurt by the division they’re in.  It’s a fairly veteran club, and Baseball Prospectus has them better than the Giants.  But with a significant payroll cut and a quiet offseason, this doesn’t seem like a team with playoff aspirations.  Arbitrary as it may be, I’m putting them in the non-contender category.
  • The Marlins have just a 1.3% chance at the playoffs, per FanGraphs, with a 71 win projection.  Baseball Prospectus says 70.  This club made the playoffs in 2020 with a season that extrapolated to about 84 wins.  They would have just missed the postseason if not for the expanded format.  The club’s quiet offseason doesn’t tip the scales much.  The Marlins did pick up Starling Marte’s option and didn’t lose anyone too significant.  This one could go either way, but based on last year I have to lean toward the contender category even if the projection systems call for major regression.

Offseason In Review: Chicago Cubs

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The Cubs traded their ace while former core players left via free agency, and attempted to add value back with a slew of one-year free agent deals.

Major League Signings

Options Exercised

Trades and Claims

Notable Minor League Signings

Extensions

  • None

Notable Losses

Theo Epstein gave his customary Cubs post-mortem on October 5th, complete with the suggestion of “warranted and necessary” change that has been a staple of those talks since 2018, particularly as it relates to the club’s offense.  That day Epstein spoke of an expectation that he’d remain with the Cubs for the final year of his contract, but 43 days later he announced his resignation.

As one of the reasons for his decision, Epstein noted, “There are a lot of important decisions to be made that will have long-term consequences,” and second-in-command Jed Hoyer is ready for the top job and should make those calls.  That makes sense, as the Cubs lined up the contract years of Kris Bryant, Anthony Rizzo, and Javier Baez to coincide in 2021.  Plus, the Cubs were firmly in cost-cutting mode, having recently laid off 100+ employees due to the COVID-19 pandemic.  They were, as we’d soon learn, also planning a cut in player payroll.  Epstein’s abandonment of his $10MM salary could be viewed as an act of generosity of sorts, except that the Ricketts family was the beneficiary.

The last time Cubs ownership experienced “found” money, they used Ben Zobrist’s unexpected leave of absence money to cover the bulk of Craig Kimbrel’s 2019 salary.  Kimbrel’s three-year, $43MM contract represents the only time the Cubs committed more than $7MM to a new player dating back to their February 2018 signing of Yu Darvish.  The Ricketts family opened the checkbook in that 2017-18 offseason, and then cut off Epstein and company for the better part of the ensuing three years.  It’s no wonder Epstein chose to leave a year early, especially with the likely knowledge that the Ricketts family was planning to mandate a payroll cut best accomplished by trading the team’s ace.

How badly did Cubs’ ownership want to save money?  Badly enough to choose a path unprecedented in at least the last 20 years in MLB: trading a top-two Cy Young finisher coming off a winning season.  Such trades have rarely been brokered at all – teams like to keep ace pitchers – but on the rare occasion they have happened, it’s been done by a losing club.  In late December, the Cubs traded Yu Darvish, backup catcher Victor Caratini, and $3MM cash for one year of veteran pitcher Zach Davies plus three 17 to 18-year-old prospects and another who had just turned 20.

Part of being one of the 30 people in the world tasked with leading an MLB front office is that you have to sometimes say things that aren’t true.  According to Hoyer, the $51.67MM in player salary the Cubs saved in the Darvish trade was “not the focus” of the deal.  Instead, Hoyer said, “The focus of this deal was to try to move a player in the second half of his contract and try to acquire a lot of young talent.  We don’t have many opportunities to do that. Look back at the last six years, when have we had the chance to replenish in any way, and this was an opportunity to do that and we took it and we’re excited about what we got back.”

The “second half of his contract” part is Hoyer’s kinder way of saying that he feels he sold high on Darvish, who is 34.  Darvish missed almost all of 2018 due to injuries and has only pitched like an ace for the Cubs for his last 32 starts or so dating back to May 2019.  Cashing the Cubs’ ace in for prospects was described by Hoyer as “the prudent thing to do,” but a more accurate phrasing would have been “the financially prudent thing to do.”  There would have been financial risk in keeping Darvish’s three-year, $62MM commitment, just as there’s risk the players Hoyer acquired won’t pan out.  A team with a good, veteran base of talent in baseball’s worst division would typically hold onto the ace’s contract for at least one more year, taking another shot at a championship even if they don’t get to “jump-start our farm system in a big way.”  Plus, Darvish is hardly overpaid in light of Trevor Bauer’s three-year, $102MM contract.

All that said, threading the needle and trading Darvish this winter could still have been a good call.  The Rays do it all the time and remain competitive, though I’m not sure why the Cubs would try to emulate the Rays.  The problem is that if this was the best package of players offered, Hoyer should have held onto Darvish, and I’m not confident the Ricketts family endorsed that option.  The four prospects acquired are nowhere close to impacting the Cubs, unless they’re traded again in the near future.

We’re left with Darvish being swapped out for Davies, and there’s no real argument that makes the team better in 2021.  On paper, the exchange makes the Cubs 2-3 wins worse this year, in a division the Brewers are projected to take with 82.1 wins.  The Cubs are at 79.6, demonstrating the weakness of the division and the parity of the Brewers, Cubs, Cardinals, and Reds.  If the Cubs were in the NL West, the Darvish trade would have been more defensible.

Prior to Epstein stepping down, the Cubs made the obvious choice of Jon Lester’s $10MM buyout over his $25MM mutual option.  Though interest in a lower-priced reunion was mutual, Lester lingered on the market until January 20th.  He turned down a last-minute offer from the Cubs and signed for the Nationals with $5MM.  Lester moving on is notable for all he meant to the Cubs 2015-20, but at age 37 he wasn’t the best choice for their rotation.

Hoyer began remaking the Cubs’ rotation with the late December Davies-Darvish swap, adding Davies to incumbents Kyle Hendricks and Alec Mills to form a trio that rarely cracks 90 miles per hour.  In January, the Cubs attended showcases for Corey Kluber, Carlos Rodon, Mike Foltynewicz, but elected not to sign them.  They wound up signing Trevor Williams, who had been non-tendered by the Pirates.  Williams projects to pitch roughly as well as Lester does (an  ERA near 5.00) at half the price.  Williams will turn 29 in April and is under team control for 2022.  It’s not an exciting move, but Williams will soak up innings at the back end of the Cubs’ rotation in a year that every team expects to go through more starters than usual.

One of the Cubs’ bigger splashes of the offseason was the signing of Jake Arrieta in mid-February.  Like Lester, Arrieta was instrumental in the Cubs’ playoff success from 2015-17.  The addition seems like a nostalgia signing more than anything.  In 2019, the now-35-year-old Arrieta had surgery for a bone spur in his right elbow.  His strikeout rate has steadily deteriorated, though his groundball rate has held strong.  Like Williams, it’s hard to see much better than a high-4s ERA here.  So far the Cubs have gotten exactly one MLB start out of an Epstein-drafted pitcher, and it was Rob Zastryzny in 2016.

The Cubs’ bullpen was supplemented in a similar patchwork fashion with the signings of Brandon Workman, Andrew Chafin, and Ryan Tepera for a total of $4.55MM.  The ’pen will again by led by the embattled Kimbrel, who is owed $16MM this year.  Given Kimbrel’s 6.00 ERA, 14.5 BB%, and 11 home runs allowed in 36 innings for the Cubs, he wouldn’t be atop their bullpen depth chart if not for his contract.  The Cubs’ 2021 bullpen doesn’t look particularly good, but Kimbrel serves as a reminder that this is not a problem teams can easily solve by throwing money at it.

About a month after declining Lester’s option, the Cubs had to make a tougher decision on another World Series hero in Kyle Schwarber.  Drafted fourth overall in 2014, Schwarber was long considered part of the Rizzo-Bryant-Baez core that would be up for free agency after 2021.  Schwarber limped to a 91 wRC+ in 224 plate appearances in 2020, setting him up for an arbitration reward somewhere south of $9MM.  The Cubs presumably found no takers in a trade, putting a sad cap on Schwarber’s Cubs career by non-tendering him.  Schwarber became one of the rare players to sign in free agency for more than he would have gotten in arbitration, and Lester joined him in D.C. in January.

In late January, ESPN 1000’s David Kaplan reported that the Ricketts family had “recently increased the Cubs player payroll for 2021,” presumably because Wrigley Field was approved for 20% capacity to start the season.  That same day, the Cubs had a deal with Joc Pederson, the first top 50 free agent they’ve signed since Kimbrel.  Pederson decided to eschew multiyear offers for the chance to shed his platoon label, instructing his agent to reach out to the Cubs.  As manager David Ross put it (according to Pederson), “I didn’t know we were going to get to talk to free agents of your caliber.”

Pederson owns a 135 wRC+ against right-handed pitching from 2016-19 – 14th best in baseball.  His mark against lefties is just 42, though he’s typically received fewer than 60 plate appearances against southpaws annually in recent years.  If Pederson can manage a 90 wRC+ over 129 PA against lefties, as he did in his first full season in 2015, he could be one of the better left-handed hitters in baseball.

The contract years of Bryant, Baez, and Rizzo will be a storyline looming over the Cubs all year.  The Cubs have a clear goal this year of resetting under the $210MM base tax threshold instead of becoming a third-time payor, and they’ve left themselves a hefty $39MM in wiggle room under that mark.  This year’s current $171MM CBT payroll drops to about $58MM in commitments for 2022.  As of last week, Rizzo was “very optimistic” about getting an extension done.  Perhaps a three or four-year deal in the $60-75MM range would work for both sides.

While Rizzo had an off year in 2020, Baez was the third-worst qualified hitter in the game.  It was only 235 plate appearances, but you can understand the Cubs’ hesitancy in locking him up for five or six years.  On the other hand, if the Baez of 2018-19 returns, the Cubs will have lost their chance at a bargain.  Baez is not setting a deadline on contract talks, and may be keen on avoiding a free agent market that could boast fellow shortstops Francisco Lindor, Corey Seager, Trevor Story, Carlos Correa, among others.

Despite trade rumors all winter, Bryant stayed put and is even open to extension discussions.  That seems unlikely, however, and Bryant is a prime trade candidate if the Cubs are out of the race in July.  The team would have to be particularly bad to be out of contention by mid-July in the NL Central, however, which could present Hoyer with a difficult choice.  The Cubs already prioritized financial savings and far-off prospects over their 2021 record in the Yu Darvish trade, so that could easily happen again this summer.

The 2021 Cubs are not all-in to win another championship, nor are they attempting anything like a rebuild.  The club seems content with mediocrity, and that’s the most likely outcome.

How would you grade the Cubs’ offseason? (Poll link for app users)

2021-22 MLB Free Agent Power Rankings

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Opening Day is three weeks away, and here at MLB Trade Rumors it’s time to look ahead to the 2021-22 free agent class. These players are on track to become free agents after the 2021 season, but a lot can change before we reach that point. As always, these players are ranked by my estimate of their 2021-22 open market earning power. You can see the full list of 2021-22 MLB free agents here.

It’s worth noting that the collective bargaining agreement expires on December 1st.  With so much uncertainty as to how that will play out and whether there will be a work stoppage, I’m going to mostly set it aside for the purposes of this post.

1.  Francisco Lindor.  The largest MLB free agent contract ever signed was Bryce Harper’s 13-year, $330MM deal with the Phillies two years ago.  Meanwhile, the largest extension was the 12-year, $365MM deal signed by Mookie Betts last summer.  The highest average annual value was the $36MM achieved by Mike Trout and Gerrit Cole.  These are the records Lindor figures to be aiming for if he reaches free agency after a strong 2021 season.  A 5-WAR season, which is what projection systems call for, would help fully erase a 2020 campaign that saw the shortstop post a career-worst 102 wRC+ in 266 plate appearances.

Lindor is not the game’s best-hitting shortstop, and might not even belong in the top five.  But it is the combination of a quality bat and strong defense that puts him in the conversation for the best overall at his position.  As you’ve no doubt heard, the 2021-22 free agent shortstop class is exceptional, with eight potential starters at the position.  At least half of them are star-caliber.

Lindor’s nickname, Mr. Smile, comes from the impression that he represents “nothing but pure baseball joy,” in the words of Will Leitch.  Lindor’s personality will be amplified now that he’s been traded to the big-market Mets.  Upon the January 7th trade, there was an assumption by some that the suddenly deep-pocketed Mets would move quickly to sign Lindor to a contract extension.  Those talks might be taking place right now, based on this Jon Heyman tweet, and he describes Opening Day as “at least a soft deadline.”  By the next installment of these Power Rankings, we should know whether Lindor is likely to reach the open market at age 28.  Lindor is represented by SportsMeter.

2.  Corey Seager.  Born about five months after Lindor, Seager is arguably just as good.  Seager finished 9th in the NL MVP voting in the abbreviated 2020 season, and he too is forecasted to post a 5-WAR 2021 season.  Seager played beyond that level from 2016-17, but he underwent Tommy John surgery in April 2018 and was limited to 26 games that year.  His 2019 return was more good than great, but then Seager put up a 152 wRC+ in 232 regular season plate appearances in 2020, going on to win both the NLCS and World Series MVP awards.  Aside from possibly Fernando Tatis Jr., no shortstop carries a more potent bat than Seager.

Defensively, Seager’s work does not jump off the page, especially that which came after his Tommy John procedure.  It stands to reason that Seager may be expected to move to the hot corner at some point during the course of his next contract.  For that reason we’ve got him a touch behind Lindor in earning power, but that could change.  The Dodgers have the inside track to signing Seager if they want to, and it’s even plausible they could lock him up while dipping back under whatever the base tax threshold is in 2022.  Seager is represented by the Boras Corporation.

3.  Trevor Bauer.  Will Bauer return to the free agent market after a single season with the Dodgers?  He’s built the option into his contract.  If Bauer opts out of the remaining two years and $64MM, he gets a $2MM buyout, but $20MM of his ’21 salary will be deferred without interest until 2031.  So there’s a financial calculation to be made, and locking in more guaranteed money – potentially more than $200MM – could become especially appealing if Bauer pitches at a Cy Young-caliber level for all of 2021.  He’ll also be free of the qualifying offer the next time around, though it remains to be seen how that might be adjusted in the next CBA.

The easier choice might be to opt out after 2022, at which point Bauer will have earned $85MM over two seasons and wouldn’t be risking much.  Bauer is represented by Luba Sports.

4.  Trevor Story.  Story’s 13.5 WAR since 2018 has only been bested by Lindor and Xander Bogaerts among shortstops.  Still, age is a big factor in free agent earning power, as it affects the number of years teams are willing to give.  And Story is a full 22 months older than Carlos Correa.  Story is still a young free agent, however, as he’ll play at age 29 in the first year of his next contract.

Story mainly has to contend with Coors Field, in that he has a 141 wRC+ there since 2018 but a 105 mark on the road.  It’s not that simple, and many good hitters have seen continued success after leaving Coors.  But Story’s earning power may be boosted if the Rockies move him at the July trade deadline and he puts up his customary 120 wRC+ for a new team.  Plus, he could potentially shed the qualifying offer with a trade.

Story’s defense likely slots in ahead of Correa and Seager, and he’d beat any fellow free agent in a foot race.  As an all-around player, Story is quite valuable and comes with few question marks outside of the Coors Field factor.  He’s represented by Excel Sports Management.

5.  Carlos Correa.  Correa was once mentioned in the same breath as Lindor and Seager for those prognosticating about this free agent class, but his star has dimmed considerably since the Astros won the World Series in 2017.  There’s the sign-stealing scandal, in which Correa was a central player.  But so too was George Springer, and he was able to land a strong $150MM contract after re-asserting his hitting prowess sans trash cans.

For Correa, the problem is more that since 2017, he’s not been able to post a season in which he was both healthy and an above average hitter.  He raked at a 143 wRC+ in 2019, but was limited to 75 games due to a cracked rib and a back injury.  He avoided the IL in 2020, but put up a career-worst 98 wRC+ in 221 regular season plate appearances before going nuts for 55 PA in the postseason.  So before extending a contract of seven-plus years, teams need to see if Correa can be the 5-WAR player he once was.  His defense probably rates somewhere between Lindor and Seager.

Correa has age in his favor, as he’s about five months younger than Seager and 10 months younger than Lindor.  Still, he has the widest error bars of anyone on this list, and his 2021 season is crucial.  The Astros are at least taking the typical stance of planning to explore an extension.  Correa is represented by WME Baseball.

6.  Nolan Arenado.  Arenado, who was paired with Story on the left side of the Rockies’ infield for five years, has the ability to join him in free agency.  It’d require opting out of the remaining five years and $164MM on his deal.  To take such a leap, Arenado’s lone season with the Cardinals would have to be reminiscent of his stellar 2015-19 work, rather than the below-average output of his 48-game 2020 campaign.  He did play through a shoulder injury for much of the 2020 season.  Even with a 5-WAR 2021, Arenado might prefer to stick with the certainty of his current contract rather than chase a sixth guaranteed year.  Arenado is represented by Wasserman.

7.  Freddie Freeman.  Freeman had received MVP votes in five separate seasons prior to 2020, and despite a July COVID positive he went on to win the award.  He’s inarguably one of the top eight hitters in baseball right now, and possibly better than that.  Freeman signed a record contract extension for his service class back in 2014, which is why he’s scheduled to reach free agency as a 32-year-old.  Paying him through age 36 would mean a five-year term.  The Athletic’s David O’Brien has made it clear Freeman is highly unlikely to leave the Braves, so perhaps he’ll be surrendering his place on this list before long.  Freeman is represented by Excel Sports Management.

8.  Kris Bryant.  It seems odd to put Bryant this low, as he put up a 4.8 WAR season as recently as 2019.  At that point a free agent contract below $200MM would have seemed silly, but Bryant floundered in an injury-marred 2020 season and bears a 3-WAR projection heading into his age-29 campaign.  His defensive work at third base rates somewhere around average, and he’s generally held his own in the outfield corners.

It’s possible Bryant peaked early, with a 20.7 WAR total over his first three seasons that placed him on a Hall of Fame trajectory.  It’s also possible there are many more 130 wRC+ seasons left in his bat, and he’ll be a cornerstone in someone’s lineup.  Despite losing a grievance against the Cubs for manipulating his service time, and more recently enduring trade rumors, Bryant remains open to contract extension offers from the North Siders.  He seems more likely to hit the open market following a critical 2021 season.  Bryant is represented by the Boras Corporation.

9.  Michael Conforto.  Conforto is easily one of the 30 best hitters in baseball, and with his recent excellent work a case can be made for top 20.  Though the Mets gave him some time in center field in 2017-19, he fits best in a corner.  It’s been a while since a non-superstar corner outfielder has landed a six-year deal in free agency, but that figures to be a target for Conforto in light of George Springer’s contract.  Interestingly, Mets president Sandy Alderson told reporters recently that one reason the team stopped at five years in the Springer bidding was that going to six would have made it harder to extend Conforto.

Conforto will be a full 29 months younger on Opening Day 2022 than Springer will be this year.  So there’s a case to go to a sixth or even seventh year for Conforto, though he’s generally not as center field capable as Springer.  As with Lindor, the Mets may look to hammer something out before the season begins.  Conforto is represented by the Boras Corporation.

10.  Clayton Kershaw.  Despite a Hall of Fame worthy 13-year career, Kershaw is only about to turn 33 years old.  As of last month, though, he was non-committal about even playing in 2022 before later saying he has “a few years left in the tank.” Dodgers President of Baseball Operations Andrew Friedman told Jorge Castillo of the L.A. Times, “Obviously, it’s personal for him and Ellen, but I feel like all is right in the world if he finishes his career, whenever that is, in however many years, as a Dodger.” As Castillo notes, it would certainly be appealing to Kershaw to play close to home for the Rangers next year.

If it’s only a two-horse race and Kershaw is not likely to chase the money, perhaps his earning power is diminished.  But a four-year contract paying him through age 37 wouldn’t be unreasonable, if he wants to play that long.  Kershaw may prefer the flexibility of a two or three-year pact.  Kershaw is represented by Excel Sports Management.

Honorable mentions

At this point, generally the potential for a $100MM contract gets a player onto this list.  I see three more players who could get there: Javier Baez, Max Scherzer, and Noah Syndergaard.  Players such as Lance McCullers Jr., Kevin Gausman, Marcus Stroman, Dylan Bundy, Anthony Rizzo, and Lance Lynn might comprise the next tier.

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Out Of Options 2021

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The following 40-man roster players have less than five years service time and are out of minor league options. That means they must clear waivers before being sent to the minors. I’ve included players on multiyear deals. This list was compiled through MLBTR’s helpful and much-appreciated sources.

This year, option status for several players remains unresolved at present due to the nature of the 2020 season, as reported by Derrick Goold of the St. Louis Post-Dispatch.  We’ll keep this list updated as new information comes in.

Angels

Astros

Athletics

Blue Jays

Braves

Brewers

Cardinals

Cubs

Diamondbacks

Dodgers

Giants

Indians

Mariners

Marlins

Mets

Nationals

Orioles

Padres

Phillies

Pirates

Rangers

Rays

Red Sox

Reds

Rockies

Royals

Tigers

Twins

White Sox

Yankees

Giants Sign Aaron Sanchez

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FEBRUARY 21: The deal has been made official. The incentive structure breaks down as follows (per Maria Guardado of MLB.com): $250K apiece for reaching 16 and 18 starts, $500K each for starting 20, 22, 24 and 26 games.

FEBRUARY 17: The Giants have reached an agreement to sign righty Aaron Sanchez, reports Susan Slusser of the San Francisco Chronicle.  It’s a $4MM deal with another $2.5MM in incentives, adds Slusser.  Sanchez is represented by the Boras Corporation.

Sanchez, 28, was drafted 34th overall out of high school by the Blue Jays back in 2010 as a supplemental pick for the loss of free agent Marco Scutaro.  He was still a few weeks shy of his 18th birthday upon being drafted.  Sanchez’s path from Barstow, California to being drafted by the Jays was chronicled in this excellent read from Stephen Brunt of Sportsnet.ca a few years back.

Sanchez’s prospect status climbed as he ascended through the minors, with Baseball America praising his “premium velocity with an effortless delivery.”  The Blue Jays eased Sanchez into the Majors in 2014 via the bullpen, and he even picked up three saves in his 24 appearances that year.

Marcus Stroman’s unfortunate ACL tear paved the way for Sanchez to make the Jays’ rotation out of camp in 2015, but after a summer lat strain that year he returned to the ’pen.  The following year Sanchez again won the team’s fifth starter job out of spring training, and this time he ran with it.  2016 still stands as the best year of Sanchez’s career, as he posted a 3.00 ERA in 192 innings, making the All-Star team and finishing seventh in the AL Cy Young voting.  In a year where the average starting pitcher managed a 20.2 K% and 7.7 BB%, Sanchez fell right around those marks at a 20.4 K% and 8.0 BB%.  He did succeed in limiting exit velocity and keeping the ball on the ground.  Despite concerns about Sanchez’s workload, which wound up increasing more than 100 innings over the prior year, the Blue Jays couldn’t bring themselves to pull him from the rotation despite a yearlong flirtation with the idea.

Sanchez would be limited to just eight starts in 2017 due to a blister/split fingernail that required four separate IL stints.  Further finger issues held him to 20 starts in 2018, culminating in season-ending surgery.  Sanchez battled through similar issues in 2019, making 27 starts on the season but averaging fewer than five innings per turn.  Sanchez was not able to replicate his previous success, posting a 5.45 ERA, lackluster 18.6 K%, and unfortunate 11.7 BB% across 2018-19.  By the 2019 trade deadline, the Blue Jays had seen enough, trading Sanchez to the Astros with Joe Biagini and Cal Stevenson for Derek Fisher.  Fisher’s Jays story coincidentally came to an end this week with a trade to the Brewers.

While it was thought that the Astros might work magic with Sanchez’s curveball and its 91st percentile spin rate, especially after his debut for the club was the first six innings of a combined no-hitter, the righty quickly went down for shoulder surgery and was non-tendered after the 2019 season.  Sanchez wasn’t heard from again until October 2020, when he held a showcase for 20 teams in Miami.  Agent Scott Boras would go on to boast of a 2,700-2,800 RPM fastball, speaking of Sanchez’s intent to work as a starter in 2021.  Sanchez must have shown well at a second showcase held this month, given the $4MM contract with the Giants.  Indeed, Slusser notes that “the Giants have been paying attention to [Sanchez] all off season and took especial notice last week, when Sanchez hit 98 mph in a bullpen session.”  Here’s the proof of that from Sanchez’s Instagram.

After another reclamation project gone well, Kevin Gausman, accepted his $18.9MM qualifying offer, the Giants went to work on their rotation this winter by adding Anthony DeSclafani  for $6MM (a teammate of Sanchez’s on the 2012 Lansing Lugnuts) and Alex Wood at $3MM on one-year free agent contracts.  While Sanchez will presumably round out the team’s starting five, no team is getting by with five starters – not this year, and not with this group.  The club also added Nick Tropeano on a minor league deal today, and Logan Webb figures to be in the mix as well.  Tyler Beede is expected to become an option around May after recovering from Tommy John surgery.

With pitchers and catchers already starting to report to spring training, there are still several rotation-worthy starting pitchers on the free agent market, including Jake Odorizzi, Taijuan Walker, Rick Porcello, Cole Hamels, and Mike Leake.  It’s been an odd winter for starting pitching.  Aside from Trevor Bauer, who signed for three years and $102MM, no starting pitcher has landed as much as $20MM.  The last time fewer than three starting pitchers received a $20MM guarantee in an offseason was 2009-10,  when only John Lackey and Randy Wolf achieved it.

Why Subscribe To Trade Rumors Front Office?

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Trade Rumors Front Office is our subscription service, which removes ads from the website and app and gets you a bunch of exclusive MLB chats and articles.  You can check out the full benefits here, and I’ve got more on the way this year.  But rather than tell you myself why Trade Rumors Front Office provides great value, I thought I’d share another batch of real quotes from current subscribers!

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Trading A Cy Young-Caliber Starting Pitcher

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Less than three months after their first-round playoff defeat to the Marlins, the Cubs traded second place NL Cy Young finisher Yu Darvish to the Padres.  This occurred after the Cubs won their division with a .567 winning percentage, which would have extrapolated to about 92 wins in a full season.  I looked back through the last 20 years, and this has never been done: winning teams simply do not trade top-2 Cy Young finishers.

As you might expect, teams prefer not to trade top-2 Cy Young finishers at all.  In the past 20 years, it’s only been done twice in the offseason: the Mets traded 38-year-old R.A. Dickey to the Blue Jays after the 2012 season, and the Diamondbacks dealt 41-year-old Randy Johnson to the Yankees after Arizona’s abysmal 2004 campaign.  Let’s see if the more recent Dickey trade bears any similarities to what the Cubs did.

December 17, 2012: Mets trade Cy Young winner R.A. Dickey with Mike Nickeas and Josh Thole to the Blue Jays for Noah Syndergaard, Travis d’Arnaud, John Buck, and Wuilmer Becerra.

The 2012 Mets finished with a 74-88 record, good for fourth place in the NL East.  Dickey, a knuckleballer, had quietly signed a minor league deal with the Mets after an uninspiring 2009 season out of the Twins’ bullpen.  He flourished in the Mets’ rotation, finding another gear in 2012 en route to a 2.73 ERA over 233 2/3 innings.  That effort resulted in 20 wins and the Cy Young award for the 38-year-old.  At that point, the Mets had one year of control left on Dickey at an affordable $5MM.

Dickey hoped to stay longer.  In May of his Cy Young-winning season, he told Mike Puma of the New York Post, “I like it here and I want to be here. I feel like the team is moving in the right direction, and I want to be a part of the solution. Now it’s up to them. If I’m in those plans, [addressing the contract] is one way to make it known.”  As late as September of 2012, GM Sandy Alderson spoke of his intent to retain Dickey as well as David Wright long-term.  They were the clear bright spots on the 2012 team.  By November, however, a significant gap had emerged in contract talks between the Mets and Dickey, with the righty reportedly seeking a two-year extension worth $26MM.

Once the Mets succeeded in locking up Wright, the PR hit of potentially trading Dickey diminished, and the trade rumors began in earnest.  In 2021, the Cubs’ nod to the negative PR of the departures of Darvish and Theo Epstein, among others, seems to be the nostalgia signing of Jake Arrieta.  Not quite on par with the Wright extension, though the Cubs do have Anthony Rizzo, Javy Baez, and Kris Bryant as extension candidates given their impending free agency.

The Mets reportedly discussed Dickey with eight different teams at the Nashville Winter Meetings in 2012, ultimately reaching an agreement with the Blue Jays pending a contract extension for the pitcher.  The Jays hammered out a two-year, $25MM deal – only $5MM more than the Mets had offered – and the deal was done.  Alderson explained the Mets’ approach:

“One of the reasons the negotiations were prolonged is we began to see forces of supply and demand at work, frankly.  On the one hand, we saw the value of starting pitching go up in terms of compensation. At the same time, we saw the supply start to go down in terms of availability. And so because we were proceeding on two tracks, at some point we had to wait and see what the value might be.”

Much like the 2021 Cubs after trading Darvish, Alderson talked about how the Mets weren’t giving up on the 2013 season, saying, “No. 1, we have made this trade, and we feel a number of the players that we’ve acquired — John Buck, certainly — and probably Travis d’Arnaud will make contributions in 2013.  We can’t quantify those at the moment. But we do have expectations about that. In addition, there’s a lot of time between now and when we report to spring training. So we do expect to do some other things. We do expect to acquire some other players. We recognize we have holes to fill — that we may have created a hole in our rotation, but we will address those. We certainly are not punting on 2013.”

What were those “other things?”  The rest of the Mets’ offseason consisted of signing Shaun Marcum for $4MM and adding some veterans on minor league deals.  I didn’t expect much from the 2013 Mets, writing, “The Mets have been a sleeping giant under the Alderson regime, parting ways with their best veterans other than Wright, avoiding free agency, and allowing their attendance to slip to 17th in MLB. A decent rotation won’t be enough to overcome the team’s gaping holes in 2013, but perhaps the season will provide a sneak preview for the Mets’ return to relevance in the coming years.”  The Mets wound up treading water in 2013, putting up the same 74 wins they had in 2012.

Then-Blue Jays GM Alex Anthopolous talked about the Mets’ leverage in the negotiations:

“Sandy clearly had the option to sign the player back. Everyone knew that. That was made aware. And the player wanted to stay.  I think Sandy, when d’Arnaud was on the table, he was probably on the table for 10 days. And it really didn’t move anywhere. There was no traction. There was no dialogue. It just was not enough from his standpoint, as much as we valued Travis.”  Anthopoulos would go on to tell reporters that Syndergaard was the last player the Mets insisted on acquiring.

Having recently added Jose Reyes, Josh Johnson, and Mark Buehrle in a blockbuster deal with the Marlins, Anthopoulos pulled the trigger on Dickey and gave up two major prospects in d’Arnaud and Syndergaard.  How were the prospects perceived at the time?

In d’Arnaud, the Mets landed an MLB-ready prospect ranked 23rd in baseball in early 2013, according to Baseball America.  It would be similar to acquiring Luis Patiño in the present day, who happens to be the main piece the Padres sent to the Rays for Blake Snell last December.  Baseball America slapped a 60 grade on d’Arnaud at the time, generally assigned to “first-division regulars.”  D’Arnaud was said to have the ability to become an All-Star catcher, “if he can stay healthy.”

Though d’Arnaud played well in 2014-15, accumulating 6.2 WAR over 175 games, his Mets career was mostly marked by a litany of injuries, and he was released in May 2019.  D’Arnaud has had a resurgence since then, with a 120 wRC+ over 550 plate appearances.  He took home his first Silver Slugger award with the 2020 Braves and is entering the last year of a two-year, $16MM free agent contract.

Syndergaard, meanwhile, landed 54th on BA’s top 100 back in 2013.  He, too, was assigned a 60 grade, with “the ceiling of a frontline starter.”  Syndergaard, who had been drafted out of high school, was a 20-year-old who had yet to pitch above low-A, but he was considered a polished pitcher at the time.  He ascended quickly to top-15 prospect status, reaching the Majors in 2015 and finishing fourth in the Rookie of the Year voting.  He pitched well for the Mets in their 2015 run to the World Series and finished eighth in the 2016 NL Cy Young voting.

Though Syndergaard missed most of the 2017 season with a lat injury and all of 2020 due to Tommy John surgery, he’s tallied 18.8 WAR for the Mets and should be a factor in 2021 before becoming eligible for free agency.

While Buck and Becerra didn’t pan out for the Mets and d’Arnaud fell short of expectations, the acquisition of Syndergaard alone made the Dickey trade a resounding success for the Mets and Alderson.  The chances of the Cubs having landed a player of Syndergaard’s caliber in the Darvish deal are remote, but we’ll have to check back in five years or so.

With Dickey seeking a reasonable two-year extension, a suitor could have expected to control him for three years in total, which is what the Blue Jays wound up getting.  Dickey would only need to be paid $30MM over the three-year term, in an offseason where Zack Greinke landed a six-year, $147MM contract and Anibal Sanchez signed for five years and $80MM.  Dickey would be paid just 40% of the AAV the market’s top pitcher received in free agency, on a much shorter term.  In 2021, Trevor Bauer signed for three years and $102MM, an average annual value of $34MM.  With the Cubs picking up $3MM of Darvish’s tab, the Padres got him for $59MM over three years – a $19.67MM AAV that is about 58% of Bauer’s.  Bauer’s contract could easily become $85MM over two years assuming he opts out of the final year, however, and then Darvish’s AAV would be about 46% of Bauer’s.

It’s not a perfect parallel, and both Dickey and Darvish came with some risks, but it’s fair to say the Cubs weren’t offering quite the same payroll-friendly ace the Mets were – especially with teams reeling from the pandemic.  The Cubs surely would have upped their return had they been willing to include more cash or take on a bad contract.  Talent-wise, Dickey was a 38-year-old knuckleballer who had never shown strikeout potential prior to 2012.  Darvish, on the other hand, made four All-Star teams prior to 2020 and consistently rates among the top strikeout pitchers in the game.  Darvish seems more likely to deliver ace-caliber seasons for his new team than Dickey was, though he poses a greater health risk.  As it turned out, Dickey never reached 2 WAR in any of his four seasons with the Blue Jays.

Like the Mets in 2012, the Cubs didn’t have any real urgency to make a deal this offseason, and should have held out unless they were bowled over.  The Padres had already traded the aforementioned Patiño, the game’s #23 prospect, but still had prospects ranked #10, #11, #36, #76, and #85.  The Cubs received none of them.  Though the Cubs threw in a credible backup catcher in Victor Caratini, their return was one year of righty Zach Davies, plus prospects Reginald Preciado, Owen Caissie, Ismael Mena,  and Yeison Santana.  None of the four prospects are near the Majors, and all of them received 45 grades from MLB.com.  Santana, who recently turned 20, is the oldest of the bunch.  We’ll let future Hall of Famer Clayton Kershaw take it from here, in his interview with Jorge Castillo of the L.A. Times:

“There’s a lot of smart guys in front offices. Figure something out that’s easier to do than trading away a [star]. Just, for example, a potential Cy Young [Award winner] in [Yu] Darvish, who has been one of the top five pitchers in baseball for a year and a half, for prospects that could potentially be good but they’re 17, 18 years old. And [Zach] Davies is a great pitcher, but to me, that’s just not . . . For the Chicago Cubs to do that, it’s not good. It’s just not good.”

Kershaw would know.  He’s finished in the top two for Cy Young voting five times, and his big-market employer never entertained trading him immediately thereafter.

So then, why do the deal if you’re the Cubs?  A mandate from ownership to reduce payroll is the likely answer, as the Cubs removed $59MM of Darvish’s $62MM commitment from the books.  Darvish carries a $21MM CBT payroll hit for 2021, yet the Cubs added $31.33MM back to the payroll in Davies, Joc Pederson, Jake Arrieta, Andrew Chafin, Trevor Williams, Jake Marisnick, Austin Romine, Jonathan Holder, and Kohl Stewart.  The new acquisitions project to 6.1 WAR, while Darvish projects for 3.8 by himself.  This sequence of moves represents a clear step back, as the Cubs could have easily kept Darvish’s 3.8 WAR out of one roster spot, while adding all the same supplementary help aside from Davies.

The 2021 Cubs currently carry a CBT payroll of about $170MM, more than $45MM shy of where they sat last year.  They project as roughly a .500 team, and fit in well in a division where most of the teams aren’t really pushing for the title.

The Luxury Tax Boogeyman

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The competitive balance tax has been an insidious force against the players.  Back in 1996, in the wake of the ’94 strike, a new collective bargaining agreement was reached and healing between the teams and players could begin.  As Jon Pessah wrote in his book The Game, “[Union head Donald] Fehr finally said yes to a luxury tax — the first time the union agreed to any form of payroll restraint since free agency changed everything in 1976.”  I don’t think anyone anticipated what the luxury tax would become.

In that CBA, which covered 1997-2001, the luxury tax was to cover only the 1997-1999 seasons, sort of an experiment.  Opening the door to the luxury tax in that 1996 deal wasn’t perceived as a major hit to the players.  Pessah wrote, “This labor war was a huge victory for Fehr and the union…The owners never got their salary cap or any changes to free agency or salary arbitration.”

Fast forward to 2021, and it’s clear that most major market teams use the base tax threshold of $210MM as something of a soft salary cap.  It’s a limitation MLB likes having in place, as it helps keep free agent salaries down.  If MLB wanted the luxury tax removed, they could do so easily, as they did when it was decided the tax would not be collected in 2020.

Here’s the chart for tax rates (link for app users):

The tax brackets for 2021 are $210-$230MM, $230-250MM, and $250MM and beyond.

In their extrapolated 2020 payrolls, the Yankees, Astros, and Cubs exceeded that year’s $208MM base tax threshold.  It’s notable that while MLB did not make these three teams actually pay tax in 2020, they still didn’t give them a free reset.  That’s why the Yankees sit around $200MM right now – they’re in that third column of the chart, and they want to move back into the first for 2022.  It’s all about the reset, not the actual tax amount if they slightly exceed $210MM in 2021.

The Cubs are trying to avoid the third-time CBT payor column as well, and they’ve accomplished that goal and then some in getting Yu Darvish, Jon Lester, Tyler Chatwood, Jose Quintana, and Kyle Schwarber off the books.  They’re only around $170MM for 2021, a full $40MM shy of the threshold.  The Astros are sitting around $196MM, so they have wiggle room as well.  The machinations of these three teams, particularly the Yankees, assume that the luxury tax system will remain similar in a new CBA, and there actually is a reason to reset in 2021.  If the union succeeds in drastically increasing the thresholds, which should be a major priority for them, all three clubs could have easily reset in 2022 anyway.

The one club that didn’t get the memo about treating $210MM as a soft cap is the Dodgers.  The Dodgers pulled off their reset in 2018 and have stayed below the base tax threshold since, putting them in the first-time payor column for 2021 after the signings of Trevor Bauer, Justin Turner, and Blake Treinen.  With a projected CBT payroll of $254.4MM currently, they’re looking at a tax penalty of about $13MM for 2021.  If a third-time payor spent $254.4MM, their tax penalty would be over $26MM.  In any case, exceeding $250MM places another tax: the club’s highest available pick moves back 10 spots in the next draft.  That’s why the Dodgers will likely find a way to get below $250MM this year.

It’s worth asking: if you’re not the Yankees, Astros, or Cubs, why are you so scared of the $210MM boogeyman?  None of the other 27 teams need to reset – they’re already in the first-time CBT payor column.  That includes the Red Sox, sitting around $204MM and letting the Blue Jays pass them up.  The Angels are around $191MM.  The Mets are around $187MM.  The Phillies are around $196MM.  The Nationals are around $194MM.  That makes five teams this winter that seem to have some deference to the $210MM base tax threshold.  What would be so bad about spending, say, $220MM?  The tax penalty would be $2MM, exactly the price of one year of Hansel Robles.

So the Reset Club includes the Yankees, Astros, and Cubs.  And then five additional teams – the Red Sox, Angels, Mets, Phillies, and Nationals – belong to the Soft Cap Club.  For the other 22 teams, the luxury tax simply has no bearing, which will only be underlined if the thresholds go up significantly in the next CBA.  It’s possible the eight luxury tax avoiders have grand plans for the 2021-22 free agent class – check it out – and want to be first-time payors after they go big next winter.  Otherwise, it’s hard to understand why a Soft Cap Club forms every offseason.

Which Players Will Have The Largest Change In Performance In 2021?

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FanGraphs’ 2021 playoff odds are out.  If you’re into forecasting, it’s fun to look at something like this.  At this moment in time, FanGraphs projects the Yankees, Twins, Astros, Mets, Cardinals, and Dodgers as the six division winners.  Their projections have the White Sox, Blue Jays, Padres, and Braves as the wild card teams.

For FanGraphs’ playoff odds to have any meaning, you have to consider the many underlying assumptions.  FanGraphs’ Ben Clemens explains how it’s done here.  Most importantly, team projections require forecasts for both performance and playing time.  I’m going to assume that the site’s Depth Charts player projections, described as ” a combination of ZiPS and Steamer projections with playing time allocated by our staff,” are similar to what fuels their playoff odds.

One thing that’s easy to forget when talking about which teams have improved the most over the offseason is that we cannot assume the performance of holdover players will be constant.  Take AL MVP Jose Abreu, for example.  Abreu was worth 2.6 WAR in last year’s 60-game season, so with a simple multiplier of 2.7, that extrapolates to about 7 WAR over a full season.  In other words, for 60 games, Abreu played like a 7-WAR player.

FanGraphs’ blended ZiPS/Steamer projections do not predict anything close to a 7 WAR season for Abreu in 2021.  Instead, they predict a 1.8 WAR campaign, the same as Abreu produced in 2019.  A 1.8 WAR Abreu is basically what’s baked into FanGraphs’ projection of 88.2 wins for the 2021 White Sox.  Their projection is that Abreu will be the 11th best player on the 2021 White Sox.

Here’s a look at the position players FanGraphs expects to lose the most WAR in 2021, compared to the player’s extrapolated full season 2020 production (link for app users):

On the flip side, many who struggled in 2020 are expected to bounce back.  I’ve replaced negative 2020 WARs with zero for the table below, as I don’t think it makes sense to extrapolate J.D. Martinez’s -1.0 WAR to -2.7.  With that in mind, here are the biggest projected gainers for position players (link for app users):

On to the starting pitchers.  Here are the biggest projected dropoffs (link for app users):

And here are the biggest projected gains for starting pitchers.  As you’d expect, the biggest gains are projected for pitchers who missed all of 2020 due to injury or opting out (link for app users):

What do you think?  Which players will experience the biggest change from their 2020 performance?

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