- Brock Holt is eligible for free agency after the 2019 season, but the Red Sox super-utilityman tells Michael Silverman of the Boston Herald that he “would love to stay here for the rest of my career — I’m happy here, my family’s happy here, I love everything about being a Boston Red Sox.” Holt’s versatility has made him an important depth piece for the Sox, capable of filling in at multiple positions and also providing some decent production at the plate; Holt’s .362 OBP and .411 slugging percentage last season were both career bests. There’s certainly value available for Boston in keeping Holt, and an extension would hardly break the bank (Holt is earning $3.575MM this season). The Red Sox have been discussing extensions with some higher-profile names this spring, which could explain why the team hasn’t yet approached Holt or his representatives about a new deal.
Red Sox Rumors
Dombrowski: Red Sox Unlikely To Sign Additional Relievers
The Red Sox’ bullpen has been a source of scrutiny among fans and pundits alike for much of the offseason, and it seems quite likely that thinking will continue heading into the season. President of baseball operations Dave Dombrowski told reporters prior to today’s Spring Training contest that he doesn’t expect to sign any free-agent relievers between now and Opening Day (link via Rob Bradford of WEEI).
“As far as signings are concerned I would say we’re through at this point,” Dombrowski said when asked about his bullpen. Dombrowski wouldn’t expressly rule out the possibility of changing course if something in Spring Training necessitated an addition, but he added that at the moment, the Sox “don’t have anything going on outside the organization.”
It’s been apparent for quite some time now that a reunion between the Red Sox and Craig Kimbrel is exceedingly unlikely — Dombrowski himself has hinted at that reality — but it’s still somewhat of a surprise to hear a fairly definitive statement indicating that the Sox are done adding. The free-agent market for relievers has largely been picked over, but there are still some interesting big league arms in the form of Bud Norris, Adam Warren and Tony Sipp, among others (as can be seen in MLBTR’s Free Agent Tracker).
Boston, as explored here recently, is within roughly $4.7MM of the top luxury tax penalty bracket, which would see their top draft pick reduced by 10 spots next year and would come with a 75 percent tax on any dollar spent above that line. Given that Spring Training games are already underway, though, it seems unlikely that any reliever other than Kimbrel would command enough money to push the Sox across that line. Then again, perhaps the Sox are simply confident that they’ll be able to make any upgrades they need on the trade market this summer and would prefer to leave a bit of flexibility for that possibility.
It’s also worth noting that Dombrowski didn’t rule out adding a reliever at all, so perhaps the Boston will be active on the waiver and trade markets this spring — although it’s unlikely that an intriguing reliever would fall all the way to the Sox, who have the lowest priority after winning an MLB-high 108 games last year. The Sox could make some fringe additions to the ’pen in minor trades, though, as was the case back in November when they acquired Colten Brewer from the Padres. They’re also reportedly entertaining offers for their possible surplus of catchers, and it’s certainly feasible that they could add a big league bullpen asset by that measure.
[Related: Boston Red Sox depth chart]
Bradford writes that right-hander Matt Barnes is the early favorite for ninth-inning work with Boston this year, though he’ll have some competition from Ryan Brasier in that role. Beyond that pairing, the Sox will see what right-handers Brewer, Tyler Thornburg, Steven Wright, Brandon Workman, Hector Velazquez, Travis Lakins and Marcus Walden can bring to the table this spring. Lefty options include Brian Johnson, Bobby Poyner and Josh Taylor. As for minor league signees, the Sox brought Carson Smith back to the organization and also signed Zach Putnam, Brian Ellington and the recently un-banned Jenrry Mejia.
J.D. Martinez: Free Agent Situation Is "Embarrassing For Baseball"
Red Sox slugger J.D. Martinez didn’t mince any words in his take on the slowed free agent market of the last two offseasons, describing the situation as “embarrassing for baseball” in comments to WEEI.com’s Rob Bradford. “You have a business. They say, ’The market is down, the market is changing.’ The market is higher than it’s ever been,” Martinez said. “People are making more money than ever, and they’re trying to suppress it. It’s more of a race towards the bottom now than a race towards the top. You can go right now through everyone’s lineup and you already know who’s going to be in the playoffs. What’s the fun in that? We might as well just fast-forward to the end of the season.” Martinez had his own frustrating trip through free agency last winter, as it wasn’t until late February that he finally landed his current five-year, $110MM deal with the Sox. For the next round of collective bargaining agreement negotiations, Martinez feels the MLBPA needs to be better prepared to counter what Martinez feels is a lack of competitiveness (“Losing is incentivized now.“) from the majority of teams.
Quick Hits: Reds, Gray, Rangers, Red Sox, Porcello
The Reds rotation upgrades are the story of their winter, though impending free agency for Alex Wood and Tanner Roark means there’s not much time for this unit to gel. Their third big addition, Sonny Gray, is the most significant of the three if only because he immediately signed a three year, $30.5MM extension. Unfortunately, Reds fans will have to wait for Gray’s debut, as he was scratched from his start today with right elbow stiffness, per the Cincinnati Enquirer’s John Fay. Gray came to camp sore a couple days after throwing a bullpen session, but the hope is a little extra rest will get Gray right again. The team did not perform an MRI, and there’s no reason to suspect anything serious at this time. Time to check in on another couple of stories from around the league…
- Each January, the Rangers invite a select group of top pitching prospects for a week-long mini-camp with the major league staff in advance of Spring Training, per Evan Grant of the Dallas Morning News. This season, however, they sent an even smaller group of about ten pitchers to a “secret secondary-pitch intensive.” The camp takes place at Driveline Baseball, an increasingly ballyhooed research and development consultant founded by Kyle Boddy. Trevor Bauer is one noted client, as is a couple of potential feel-good stories of 2019, Kyle Zimmer of the Royals and the Cubs 37-year-old rookie Luke Hagerty. Among the Rangers sent to Driveline were bullpen hopefuls like C.D. Pelham, Brett Martin, Michael Matuella, Jason Bahr, Nick Snyder and Brady Feigl. The exact purpose of the camp remains unclear, and Jon Daniels and the Rangers have been none too keen to speak on the subject. Still, the Driveline story is one to track throughout the year, as we may be hearing more from the innovative research group.
- Rick Porcello is open to furthering his time with the Red Sox, but they have yet to approach him about an extension, per Rob Bradford of WEEI Sports Radio Network. Porcello excelled in 2016 when he was able to limit walks and home runs en route to winning 22 games and the AL Cy Young, despite a FIP of only 3.40. Now in the final year of the four year, $82.5MM deal signed before that season, Porcello’s market value is tricky to pinpoint. The Cy Young raises his profile, though he remains closer to a mid-rotation workhorse than a top-of-the-rotation ace. He has a career 4.02 FIP, but he’s also on a remarkable run of durability that makes him an outlier in this era – he has started between 27 and 33 games each season for ten years running. Porcello, 30, is likely not as high on the Red Sox priority list as Chris Sale, Mookie Betts, and Xander Bogaerts.
Valuing A Chris Sale Extension
As he closes in on his 30th birthday and the start of his tenth season of action in the big leagues, Chris Sale (through his reps at Jet Sports Management) is engaged in at least some level of discussion with the Red Sox regarding an extension. The upcoming season is the final year of control under the deal Sale originally signed with the White Sox, adding some impetus to discussions.
It’s a fascinating situation to consider, owing to a variety of considerations. From a narrative perspective, the club’s whiff on Jon Lester years ago provides obvious fodder for comparisons. And an otherwise quiet winter from the defending World Series champs also makes for an intriguing backdrop.
The really interesting part, though, is the valuation itself. Starting pitchers have found a fair bit of success at prying monster deals from clubs entering a walk year. Clayton Kershaw’s original extension (seven years, $215MM plus opt-out) is the largest, but Stephen Strasburg’s recent $175MM deal also makes for a notable recent data point. Both of those pitchers were more youthful than Sale, but Justin Verlander’s second extension (which added five years and $140MM to his existing deal) was signed at a comparable age point (and two seasons in advance of his free agency).
That’s not to say that any of those particular deals really looks to be a perfect comp for Sale. Rather, they go to show that Sale can and should be looking for a contract that values his would-be free agent seasons at their anticipated market value.
On the other hand, there’s also no small amount of risk to be priced in here. That was the case with those other contracts, to be sure, but in this case the team will no doubt be particularly wary. After all, Sale missed five starts last year with still-mysterious shoulder issues. Though he’s said not to have exhibited structural problems, he showed some potentially worrisome velocity changes (with a correspondingly wandering release point) last year.
Both the team and Sale himself surely know quite a bit more than we do about his health. Certainly, his overall track record is one of excellent durability. While Sale’s funky delivery and big velocity readings have long led to predictions of physical ailments, he averaged 30 starts and 205 frames annually from 2012 through 2017.
Whatever the health risk may be relative to other pitchers, there’s little denying that Sale’s recent performance track record is quite free of red flags. All told, Sale has a 2.89 ERA in nearly 1500 career MLB innings and currently sits as the all-time leader in K/9 and K/BB ratio.
Importantly, too, he was in top form last year. Sale was deployed judiciously in the 2018 postseason but did record 24 strikeouts in 15 1/3 frames. Before that, he handled 158 regular-season innings, over which he allowed just 37 earned runs on 102 hits and 34 walks while racking up a whopping 237 strikeouts. When you smooth out the ups and downs in the radar readings, Sale threw harder overall last year than he ever has as a starter (95.7 mph average four-seamer). He also generated more swinging strikes than ever before (15.8%).
Those facts seem to distinguish Sale from Kershaw, who recently provided another notable contractual point to consider. The Dodger star’s new deal was hammered out in a near-open-market scenario, in the window before he had to decide whether to opt out of the final two years and $65MM of the aforementioned contract. The sides came up with a rather unique arrangement: three years, $93MM, with $12MM in total incentives that are achievable in full if Kershaw is at full health throughout the deal. Kershaw turns 31 in March, just before his new deal begins, so that contract covers almost the exact same age period as Sale’s next contract will. Not unlike Sale, Kershaw missed a few outings last year but still generated impressive results. Unlike Sale, Kershaw has exhibited more significant and long-lasting concerns in terms of his stuff and peripherals. The Dodger stalwart averaged 162 innings annually in the three seasons preceding his deal, with a series of back issues limiting his availability, tamping down his velocity, and reducing him from the game’s best pitcher to “merely” one of its best.
In the Kershaw scenario, it seems fair to say that the Dodgers mostly took a health discount by limiting the length of the commitment and including a hefty, easily achievable, but health-dependent incentives structure. It’s the kind of contract we might have expected, in the not-so-distant past, for an outstanding pitcher of an older age. That Kershaw took it at a relatively youthful stage is testament both to the level of concern with his long-term outlook and perhaps also the newfound market commitment of many teams to avoid obligating payroll space too far into the future (particularly for players in their mid-30s).
It seems easy to say that Sale won’t need to settle for the Kershaw deal to get something done. The latter has had the more impressive overall career, but his recent red flags are impossible to ignore. Still, it’s an interesting general scenario to contemplate when imagining what a deal could look like.
How’s it look for players who hit free agency under more favorable circumstances? The approach long has been to chase the biggest and lengthiest deal on the open market. David Price ($217MM) and Max Scherzer ($210MM) were each a bit younger when they secured their seven-year mega-deals — both turned 31 during the first seasons of their new contracts — than Sale will be when he hits the open market. Zack Greinke, the only other pitcher to top $200MM, turned 32 just before reaching free agency, so he was a fair bit older. He got six years and $206.5MM, easily setting a Major League record (which he still holds) with an average annual value north of $34MM.
There’s little question that Sale could position himself for massive earnings in the 2019-20 offseason with a performance that mirrors his 2018 in quality and his prior career in durability. Sale could be joined by some big names on the open market, but he almost surely possesses the greatest earning upside of any possible free-agent starter. Price’s total guarantee and Greinke’s AAV marks both seem theoretically achievable, though it’s arguable whether that kind of coin will still be available in today’s market. Even if we could accurately gauge Sale’s true earning ceiling, which would depend upon quite a few market factors, reaching it represents only one of several conceivable scenarios. With something less than full health, or declines in velocity and/or effectiveness, Sale’s earning power would obviously begin to slide.
So, where might we anticipate the price tag landing in extension talks? Sale will earn $15MM in 2019 regardless of any new deal, so we’ll consider only the future seasons. Presumably, the Red Sox will look for some kind of discount (in salary, years, or both) to account for the health uncertainty — both that of any pitcher separated from free agency by a full season and whatever added questions come with Sale. Might the Boston organization seek to cabin the length of the contract? Or would it be amenable to a lengthier deal that spreads the guarantee over a longer span, thus reducing the annual luxury tax hit? And what about Sale’s own preferences?
Supposing the Sox are willing to go to Greinke levels on the AAV but not on the term, it’s possible to imagine a five-year extension in the range of $175MM. That figure would also match the recent Strasburg deal, albeit over a shorter duration (his was for seven years) — arguably a fair result for a more accomplished and consistent, but also less youthful starter. But is that really the most sensible approach? Perhaps the team would rather stretch things out, even if it means committing to additional seasons. Adding six years at $190MM would not greatly expand the Red Sox’ overall commitment. For one thing, it’s reasonable to anticipate that Sale will still be a useful-enough pitcher at the end of that deal to warrant his salary. There’s a risk he won’t be, certainly, but there’s also real upside (see, e.g., Verlander) as well as the promise of continued inflation driving down the effective price.
Interestingly, the club’s luxury tax situation also increases the value of spreading the AAV. Let’s do a bit of math to see how this looks. Sale’s original extension, signed before the 2013 season, will have paid him a total of $59MM over seven seasons, but option years are treated as one-off seasons for purposes of the competitive balance tax calculation. That means that Sale’s hit to the Sox’ books this year will be his current salary of $15MM. Modifying his forward-looking contract rights, though, would change that number by adding the new years and dollars and then re-running the AAV. As MLBTR’s Steve Adams examined recently with regard to a hypothetical re-signing of Craig Kimbrel, any new money added to the Boston luxury ledger is going to be taxed at a hefty rate. A new deal for Sale would not only trigger a drop in draft placement but would also mean a big tax bill increase. You can find the details there; for our purposes, since a new deal would certainly be of sufficient magnitude to push the club into the top tax bracket, the Red Sox would pay 75 cents for every additional dollar of AAV they take on. And that’s just for the 2019 season. If the organization continues to exceed the luxury line, it’ll keep getting hit with bills — every one of which will be impacted by Sale’s AAV.
It’s not hard to see how adding a season or even two at a relatively lesser salary might begin to make sense, particularly when one includes the concept of the time-value of money. Here are a few scenarios to kick around (all dollars in millions):
| Extension Years | Extension Money | Extension AAV | Cumulative AAV | 2019 Tax Increase |
| 5 | $150 | $30.00 | $27.50 | $7.83 |
| 5 | $175 | $35.00 | $31.67 | $10.96 |
| 6 | $160 | $26.67 | $25.00 | $5.96 |
| 6 | $180 | $30.00 | $27.86 | $8.10 |
| 6 | $192 | $32.00 | $29.57 | $9.39 |
| 6 | $207 | $34.42 | $31.64 | $10.94 |
| 7 | $175 | $25.00 | $23.75 | $5.02 |
| 7 | $200 | $28.57 | $26.88 | $7.37 |
| 7 | $217 | $31.00 | $29.00 | $8.96 |
These are, of course, largely random price points (some of which connect to contract comps noted above, others of which are simply round numbers). But they serve to show how much cash the Red Sox could in theory be forced to take on right now if they really want to avoid paying Sale past his mid-30s. That hit, as noted already, would potentially be repeated in future seasons in which the club nears or passes the luxury line. Those considerations may well factor into the organization’s approach, whatever level of health-related discount is deemed necessary to make a contract appealing.
If a lengthier, more spread-out deal might make greater sense for the ballclub, what about Sale? As my colleague Steve Adams reminded me, the southpaw hinted recently that he could go looking to set new high-water marks of some kind. As Sale put it: “You want to do right by the guys who are coming next year, two years, 10 years down the road because you kind of set the bar and the next guy who comes along either gets to that bar or sets it a little more.”
If he intends to raise the bar in an extension scenario, one full season removed from the open market, there’s no realistic way he’s going to top the line set by Price. Breaking the overall guarantee record (seven years, $217MM) would almost certainly mean pitching in 2019 before negotiating his next contract. On the other hand, Sale could take aim at Greinke’s AAV mark. In that case, though, it’s awfully tough to see the Red Sox making a commitment past five additional seasons (if they’re willing to make such a deal in the first place).
Perhaps Sale’s bar-raising sentiments shouldn’t be taken too literally. He no doubt appreciates that an extension situation necessarily involves other considerations (and lacks competitive bidding). A hurler of his age reaching the $200MM mark in new money, say, would represent a notable achievement even if it came with a relatively less-impressive AAV and didn’t really set any recognizable records. In terms of maximizing his own career earnings (without taking the risk of first pitching another season), there’s not a whole lot of downside to going for the biggest total guarantee possible at this stage, even if it effectively means taking a cheaper valuation for the last season or two of the new contract. Even if Sale were to hit the open market on the upswing in his later years — as may well occur next winter for Verlander — the additional earning ceiling at that point would be fairly limited, at least in terms of contract length.
If there’s a deal to be made here, then, the sweet spot could actually be on a longer term than might be anticipated at first glance. As the foregoing discussion shows, though, there’s also quite a lot for both sides to think about — and quite a lot we don’t know. The major wild card, perhaps, is the sides’ respective levels of concern with Sale’s shoulder. It’ll be fascinating to see how things proceed if Sale and the Red Sox end up making a concerted effort over the coming weeks to work out a deal.
Photo courtesy of USA Today Sports Images.
Red Sox Have Discussed Extensions With Sale, Bogaerts
1:17pm: Werner and principal owner John Henry met with the Boston media today and indicated that they’ve not only discussed a long-term deal with Sale but also with Xander Bogaerts (link via the Globe’s Peter Abraham). Like Sale, Bogaerts is slated to become a free agent at the end of the 2019 season. The ownership reps noted that while they’d love to be able to keep each of Sale, Bogaerts and Mookie Betts in Red Sox uniform for the long haul, such a scenario probably isn’t realistic.
Perhaps of note, when asked about the last top-tier lefty the Sox had on the cusp of free agency, Henry candidly acknowledged that the Red Sox “blew it” when trying to work out an extension with Jon Lester prior to 2014 — Lester’s last in Boston.
8:38am: The Red Sox and ace Chris Sale have had “private” discussions about a contract extension, chairman Tom Werner said in an appearance on WEEI’s Mut & Callahan show this morning (Twitter link, with audio). Sale is currently slated to earn $15MM in 2019 and will become a free agent next offseason. He said last week that the Red Sox had not yet initiated extension negotiations.
Clearly, whether it’s in the form of an extension or in an open-market setting, Sale is in position to command a substantial raise — likely one that would at least double his salary. The seven-time All-Star, who will turn 30 years old in March, has finished in the top five in American League Cy Young voting in each of the past six seasons and has never turned in an ERA higher than 2015’s mark of 3.41. It’s somewhat surprising that Sale has never actually taken home the Cy Young hardware, though his excellence and consistency still make him a solid bet to do so at some point in his career; Sale’s 10.88 K/9 and 5.31 K/BB ratio are both the best all-time marks for any pitcher to ever have thrown 1000 MLB innings.
A new contract for Sale would begin in his age-31 season, so the length of the pact could be a potential sticking point in talks. Teams throughout the league have shown increasing resistance to guaranteeing money to players into their late 30s, and it’s been fairly rare to see five-, six- and seven-year deals that guarantee pitchers into their age-37 seasons. That said, assuming a healthy year from Sale, he could have a case to to top Zack Greinke’s current $34.4MM annual salary record. While he hasn’t previously called that a goal, Sale did recently express the importance of furthering the market for future players.
“You want to do right by the guys who are coming next year, two years, 10 years down the road because you kind of set the bar and the next guy who comes along either gets to that bar or sets it a little more,” Sale said in his own appearance on Mut & Callahan last week. “That’s kind of the brotherhood of being a Major League Baseball player.”
A healthy 2019 season will be of particular importance for Sale in 2019. While he’s long been a consistent force in the rotation with both the White Sox and Red Sox, he was limited to 27 starts last year — his fewest since 2015 — and went through a pair of stints on the disabled list as a result of inflammation in his left shoulder. Sale certainly looked healthy when striking out the side to close out Boston’s World Series win over the Dodgers. though, and he’s now had the benefit of a full offseason to rest that mildly problematic shoulder.
It’s worth noting that an extension for Sale would push the Red Sox into the top luxury tax penalization bracket. As I explored recently when looking at what it’d actually cost the Sox to re-sign Craig Kimbrel — the taxes on any such signing could top $10MM — Boston is only about $6MM south of that $246MM barrier. Viewed through that lens, the Sox may actually prefer to wait until the end of the season, although in doing so they’d also be running the risk of allowing Sale to test the open market.
Red Sox To Use Steven Wright As Full-Time Reliever
- The Red Sox plan to use Steven Wright as a full-time reliever this season, MLB.com’s Ian Browne writes, with manager Alex Cora casting Wright as a potential multi-inning threat. At first glance, a knuckleballer would seem like an unusually durable option to relegate to the bullpen, though Wright is just happy to be pitching in any capacity after two injury-plagued seasons. There is also the possibility for higher-profile assignments within Boston’s pen, given the team’s lack of an established closer.
J.D. Martinez Discusses Future
- Red Sox designated hitter J.D. Martinez is only a year removed from a protracted trip to free agency – one that culminated in late February with a five-year, $110MM guarantee. While the open market has frustrated many players over the past 16 months, Martinez may head back to free agency as early as next winter if he opts out of his contract after the season. The 31-year-old said Sunday that the cases of still-unemployed superstars Machado and Bryce Harper won’t play much of a role in his forthcoming decision, per Christopher Smith of MassLive.com. “At the end of the day, I know my value and I know what I bring to the table,” said Martinez – who, like Harper, is a Scott Boras client. “I really don’t look at that. I really judge me on me.” Regardless of whether Martinez does vacate his current contract next offseason, the offensive dynamo noted he’d “love” to continue his career in Boston, which he helped lead to a World Series title in 2018.
Alex Cora Would Be "Comfortable" With Juan Centeno As No. 3 Catcher
- The Red Sox are expected to trade a catcher – be it Christian Vazquez, Sandy Leon or Blake Swihart – before the season. If that happens, they’ll likely be left with minor league signing Juan Centeno as their No. 3 backstop. Manager Alex Cora said Saturday he’d be “comfortable” in that scenario, pointing out he’s familiar with the veteran Centeno from their time with the World Series-winning Houston organization in 2017, per Christopher Smith of MassLive.com. Centeno’s contract does not include an opt-out clause, president of baseball operations Dave Dombrowski confirmed to Smith, so the Red Sox aren’t in danger of losing him before the season. However, as Smith notes, if Boston adds Centeno to its 40-man roster at some point and then tries to send him to the minors, it’ll need to pass him through waivers because he’s out of options.
Xander Bogaerts Discusses Contract Outlook
- The Red Sox and shortstop Xander Bogaerts reportedly failed to gain traction in extension talks earlier this winter. Perhaps it’s still possible, though, that the pending free agent could line up with the organization on a new deal. As John Tomase of WEEI.com writes, Bogaerts acknowledged that the slow-developing free agent market provides cause for him to consider extension scenarios — “you obviously have to think about that,” he said — though he also did not exactly hint that he’s particularly inclined to forego the risks and upside of the open market. The 26-year-old called this winter’s market developments “weird.” As for the possibility of a future in Boston, he ultimately would say only that he likes playing with the team and that “we’ll see what happens.”
