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Red Sox Sign Martin Perez

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TODAY: The Red Sox have officially announced the signing.

DEC.12: The Red Sox have reached a one-year, $6MM agreement with free-agent left-hander Martin Perez, Ken Rosenthal of The Athletic reports. The deal includes a $6.25MM club option for 2021. The buyout on that option checks in at $500K, according to Alex Speier of the Boston Globe. Perez is a client of OL Baseball Group LLC.

The agreement with Perez comes at a time when the Red Sox look to be shopping a much more prominent and far more expensive southpaw in David Price. As of now, though, the soon-to-be 29-year-old Perez is slated to join Price, Chris Sale, Eduardo Rodriguez and Nathan Eovaldi in a lefty-heavy Red Sox rotation.

Once a standout prospect with the Rangers, Perez is now amid a second straight offseason in which a team has turned down his club option for the following year. The Rangers cut Perez loose a winter ago on the heels of a horrid season for the hurler, while the Twins – who then inked him to a $3.5MM guarantee – did the same last month. Had the Twins retained Perez, he’d have earned $7.5MM. He’ll take home a bit less as a member of the Red Sox, but this still looks like a respectable payday in light of Perez’s showing in Minnesota.

While Perez did turn in 165 1/3 innings and 32 appearances (29 starts) as a Twin, he wound up with fairly pedestrian numbers. Despite career-high four-seam velocity (94.1 mph), the addition of a cutter to his repertoire and excellent hard-hit and exit velocity marks from Statcast, Perez finished with a 5.12 ERA and just 7.35 K/9 against 3.65 BB/9. ERA estimators such as FIP (4.66), xFIP (4.69) and SIERA (5.01) weren’t enamored of his work, though Perez did begin the year well. He owned a 4.26 ERA/3.71 FIP at the All-Star break, but the wheels came off during the second half of the season, in which Perez more closely resembled the pitcher the Rangers gave up on and notched a 6.27 ERA/5.94 FIP.

For the Chaim Bloom-led Red Sox, the agreement with Perez is the second one-year contract they’ve handed out Thursday. They previously inked infielder Jose Peraza to a $3MM guarantee. Both are modest signings in what most expect to be a low-key offseason for Boston, at least in terms of spending.

Photo courtesy of USA Sports Today Images.

Dodgers Have Reportedly Shown Interest In Mookie Betts

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  • Bob Nightengale of USA Today reported earlier this week that the Red Sox and Dodgers have had “exploratory trade talks” in regards to Boston outfielder Mookie Betts. The Dodgers have even included shortstop Corey Seager in discussions centering on Lindor and Betts, Nightengale relays. However, even though Betts only has a year of control left (in which he should make almost $30MM via arbitration), and even though the Red Sox are working to get under the $208MM luxury tax, it doesn’t look as if there’s any hurry to part with the former AL MVP. Instead, it seems the Red Sox’s preference is to trade from their starting staff, tweets the Boston Globe’s Alex Speier, who hears that they and the Dodgers “had virtually no engagement” in regards to Betts at last week’s Winter Meetings.

Details On Luxury Tax Bills For Red Sox, Cubs, Yankees

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The luxury tax bills for the Red Sox, Cubs and Yankees – the three teams that exceeded the $206MM threshold in 2019 – are now public knowledge. The Red Sox owe $13.4MM, the Cubs will pay $7.6MM and the Yankees must surrender $6.7MM, according to Ronald Blum of The Associated Press. As far as actual payrolls go, Boston checked in at $228MM, the Yankees put a $226MM roster on the field and the Cubs spent $220MM, Blum notes.

Neither the Red Sox nor the Cubs made the playoffs in 2019 despite their elite-level spending, while the Yankees lost to the Astros in the ALCS. Now, with the exception of the Yankees (who’ve already made history this offseason with the nine-year, $324MM contract they awarded right-hander Gerrit Cole), those clubs look as if they’re in salary-cutting mode. The tax limit will climb to $208MM next season, and the Yankees will blow past it in the wake of the Cole signing. Moreover, there’s a decent chance the Yankees will outspend the $208MM mark by $40MM or more, which would lead to a 42.5 percent overage tax next year and would cause their highest draft pick to drop 10 spots.

It seems the Red Sox and Cubs would like to avoid the tax, but it remains to be seen whether either will pull off that feat. As things stand, next year’s Red Sox are projected to go beyond $208MM by almost $30MM, while the Cubs will do so by about $6MM, per Jason Martinez of Roster Resource.

It will be easier for Boston and Chicago to duck the tax 12 months from now if they sell off an expensive star or two, which seems possible. The clubs have former MVPs (outfielder Mookie Betts for the Red Sox and third baseman/outfielder Kris Bryant for the Cubs) who have come up in trade rumors. Betts and Bryant aside, there are other well-compensated potential trade chips in both cases. Left-hander David Price and center fielder Jackie Bradley Jr. come to the fore for the Red Sox, while righty Yu Darvish and first baseman Anthony Rizzo join Bryant among high-priced Cubs who may not be untouchable.

Red Sox Remain Focused On Price

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  • Sneaking under the luxury tax remains a “realistic” goal for the Red Sox, per The Athletic’s Chad Jennings. The new regime led by Chief Baseball Officer Chaim Bloom took a more egalitarian approach to the winter meetings than in recent years. Boston took the time to gauge the lay of the land rather than strike hard for a specific target. Moving all or most of the three-years, $96MM owed to David Price is still the quickest path to ducking the tax, but Bloom is resistant to making Price’s contract more palatable by attaching prospects. They are, however, willing to pay down Price’s contract to get it closer to $20MM per year rather than the current $32MM. Until Price does get moved, expect more of the same as the Red Sox will continue to work around the margins to tweak the roster.

Red Sox Sign Jose Peraza

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DECEMBER 13: The Sox have announced the signing.

DECEMBER 12: The Red Sox are in agreement with free-agent infielder Jose Peraza on a contract for the 2020 season, Robert Murray reports (via Twitter). The ISE Baseball client will take home a one-year deal worth close to $3MM, MLB Network’s Jon Heyman tweets. He can boost his salary via incentives.

Peraza, still just 25, was once considered to be among the game’s premier prospects but struggled considerably in two of his three full Major League seasons before being non-tendered by the Reds earlier this month. That includes a 2019 season in which he managed only a bleak .239/.285/.346 batting line through 376 trips to the plate while seeing time at second base, shortstop, third base, left field and center field.

While the 2019 and 2017 seasons weren’t kind to Peraza, he posted solid seasons with the bat in a half-season effort in 2016 (.324/.352/.411) and a full season in 2018 (.288/.326/.416). He’s an above-average runner although perhaps not to the extent some may expect from his prospect days; Peraza posted a 28.8 ft/sec average sprint speed each year from 2016-18, per Statcast, but saw that mark drop to 28.0 this past season. And while that might not sound like a notable drop, it’s enough to drop him from the 92nd percentile to the 75th percentile in the game. Peraza’s stolen-base efficiency, perhaps correspondingly, took a hit. He was caught six times in 13 attempts last year after going 70-for-94 in seasons prior.

In Peraza, the Red Sox now have a potential replacement for free agent Swiss army knife Brock Holt, who remains unsigned to this point in the offseason. Peraza can play virtually any position on the diamond outside of pitcher or catcher, and at roughly $3MM and 25 years of age, he’s both a younger and more affordable alternative — if he can round back into form, that is.

Regardless of the outcome, it’s a fairly sensible low-cost flier for Boston — one that could pay dividends across multiple years. Peraza has three years, 141 days of Major League service time, meaning if he does indeed bounce back, he’ll be controllable via arbitration all the way through the 2022 season

Latest On David Price Trade Talks

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It seems more and more plausible that the Red Sox will end up working out a deal involving lefty David Price, MLB.com’s Mark Feisand reports. The Padres, Cardinals, White Sox, Reds, and Angels have all shown varying degrees of interest in the 34-year-old, per the report.

Price is still owed $32MM a year for the next three seasons. That’s a big chunk of change for a 34-year-old who has made just 63 starts over the past three seasons — including 22 starts in a 2019 campaign that was cut short by elbow and wrist issues. Price was the embodiment of durability from 2010-16, pacing the Major Leagues with 1529 1/3 innings over that seven-year stretch, but he’s totaled just 358 frames over the past three seasons.

When on the field, of course, Price remains an effective pitcher — albeit one whose weighty annual salary no longer aligns with his rate of compensation. Dating back to 2017, Price owns a 3.75 ERA and 3.82 FIP. The 2019 season resulted in one of the worst ERAs of Price’s career (4.28), but he did give some reason for optimism with a career-high 10.7 K/9 and 28 percent strikeout rate. Price’s control remained solid (2.7 BB/9, seven percent walk rate), and his 21.0 K-BB% was the second-best of his career. Stranding runners was an issue, and a career-high .336 average on balls in play against him assuredly did Price no favors. Ultimately, though, Red Sox ownership’s desire to drop back below the luxury tax line is the driving factor in moving Price, whose seven-year, $217MM contract comes with a $31MM annual luxury hit.

Feinsand notes that the Red Sox have no desire to attach a desirable young player such as Andrew Benintendi to Price in order to simply shed the remainder of his contract. The Athletic’s Chad Jennings offers a similar sentiment (subscription required). “I don’t think we’d ever want to rule anything out,” chief baseball office Chaim Bloom of parting with prospects to help facilitate a Price trade (quote via Jennings). “But so much of what we’re always going to be trying to accomplish, but certainly now, is to make sure we have as strong a farm system as possible.”

Of course, that doesn’t mean that the Sox would be forced to simply include cash along with Price in a trade. The Boston organization could certainly acquire another unpalatable contract in return, thus helping to . The Padres have discussed the possibility of including Wil Myers in a deal, for instance, although there’s no indication that such talks gained any traction. Myers himself is owed a regrettable $61MM over the next three seasons and just wrapped up an ugly .239/.321/.418 effort, striking out in 34.2 percent of his plate appearances along the way.

Blue Jays Discussed David Price, Jackie Bradley Trades

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  • Though the Blue Jays have been mostly linked to free agents this winter, the club is apparently being just as diligent on the trade front, Sportsnet.ca’s Shi Davidi writes.  In addition to Toronto’s known interest in Yankees southpaw J.A. Happ, the Jays have checked in with the Red Sox about David Price and Jackie Bradley Jr., and with the Pirates about right-hander Chris Archer and Joe Musgrove.  It doesn’t seem like any of these particular options are close, however, as Davidi notes that “the cost in both dollars and prospect capital remains too high” for Price, Bradley, and Happ.  The Jays and Pirates have been speculatively linked as trade partners since Ben Cherington recently went from Toronto’s front office to the GM chair in Pittsburgh, though this familiarity may not necessarily be a plus.  As Davidi puts it, Cherington “may think too similarly to his former colleagues for a deal to be struck.”

Red Sox Notes: Hill, Romo

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  • Rich Hill has been in touch with multiple teams, the veteran lefty tells The Athletic’s Andy McCullough (subscription required), including his top two choices of the Dodgers and Red Sox, as well as “a whole bunch of other teams that are going to be contenders in 2020.”  Though Hill won’t be able to pitch until midseason due to primary revision surgery on his UCL, he is “definitely not opposed to signing now.  I think that does give the opportunity for the team, to be honest, to benefit from my experience as a whole. You’ve got a guy who comes into Spring Training as a veteran, and can help younger guys out.”  Despite numerous injuries in recent years, Hill has been borderline elite when he has been able to take the mound, posting a 2.91 ERA, 3.79 K/BB rate, and 10.7 K/9 over 466 1/3 innings since the start of the 2015 season.
  • The Red Sox have some interest in Sergio Romo, though they “don’t seem to be the most aggressive suitor” for the veteran reliever, MassLive.com’s Chris Cotillo writes (Twitter link).  The Athletics, Marlins, and Twins have all been linked to Romo’s market this offseason, and there was some belief last week that he could sign his new deal before the end of the Winter Meetings.

Myriad Reasons For Red Sox To Duck The Tax

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  • The incentives for the Boston Red Sox to slip under the luxury tax line in 2020 are manyfold, per Alex Speier of the Boston Globe. Because of higher penalties for repeat offenders, Boston could save themselves close to $100MM in tax penalties over the course of the next three seasons. Of course, to do so, they’ll need to get under the $208MM tax line. Another benefit takes into account a worst case scenario. Should Mookie Betts sign elsewhere as a free agent next year, the Red Sox could improve their compensation from a pick after the fourth round to a pick after the second round. They could also miss out on a potentially hefty revenue sharing rebate that will come from the phase out of Oakland’s revenue-sharing subsidies. Oakland’s market size has been superseded by lack of revenue, thus placing them among the revenue-sharing recipients, but their free ride is coming to an end. That money will be dispersed among the large-market, revenue-sharing contributors, perhaps proportionately so. That would be a boon for the Red Sox, but they risk forfeiture of the reward if they continue to spend over the tax. Hence, the David Price auction rolls ever onward.

KBO Notes: Kelly, Wilson, Raley

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Though it seemed for awhile like Casey Kelly was drawing enough interest to warrant a return to the states, the right-hander has instead re-upped for another season in the KBO. Kelly signed back with the LG Twins for $1.5MM, which includes $300K in incentives, per Dan Kurtz of MyKBO.net. Kelly is most famous for his time as a prospect in the Red Sox system. He was eventually dealt to San Diego in a 2011 blockbuster which also featured Adrian Gonzalez and Anthony Rizzo. Kelly never broke out with the Padres, thanks in part to 2013 Tommy John surgery, which kept him off the hill for the entire season. Kelly ended up accruing a mere 40 1/3 innings with the Padres in parts of two seasons (2012 and ’15), and later combined for another 45 1/3 between the Braves (2016) and Giants (2018). The 30-year-old Kelly has done rather well for himself overseas, going 14-12 last season with a 2.55 ERA across 180 1/3 innings as a starter for the LG Twins.

  • Tyler Wilson will also return to the KBO’s Twins for another season, per Kurtz. 2020 will mark Wilson’s third season with the Twins, for whom he put together solid back-to-back seasons. Coming off a 14-7 year with a 2.92 ERA in 185 innings, Wilson has signed for $1.6MM, including $200K in incentives. The 30-year-old Virginian appeared with the Orioles for parts of three seasons from 2015 to 2017.
  • Coming the other way, southpaw Brooks Raley could be on his way back after five seasons with the Lotte Giants in Korea, tweets Jon Morosi of Fox Sports. Raley was once a Cubs farmhand who broke into the majors for five starts in 2012. He also saw limited action for Chicago the following season, though totaling just 38 1/3 innings and a 7.04 ERA across those two seasons. The Cubs made Raley a 6th round draft choice in 2009 out of Texas A&M. The Minnesota Twins claimed him off waivers, but the Angels claimed him not long after. Raley never appeared at the big league level for either squad. Morosi notes that the 31-year-old Texan is drawing interest from big league clubs now, though which teams were not specified.
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