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Free Agent Stock Watch

Free Agent Stock Watch: Francisco Rodriguez

By Dan Mennella | September 22, 2011 at 6:04pm CDT

Lurking among the ranks of the elite impending free agent closers is the Brewers' Francisco Rodriguez, who in fact has served as a setup man (more on that in a bit) in Milwaukee since being acquired from the Mets in a midseason trade. K-Rod is an accomplished, compelling, and perhaps controversial figure, and his second venture into free agency should be fascinating.

Though he rose to prominence a decade ago during the Angels' run to a World Series title in 2002, K-Rod is only 29 (he'll turn 30 in January), so his new agent, Scott Boras, can still sell the right-hander as being relatively close to the prime of his career to potential suitors. And although Rodriguez's strikeout rates have dipped from where they were in the mid-aughts (from a high of 13.18 K/9 in 2005 down to 9.66 in 2011), he's posted sub-3.00 FIPs in each of the past two seasons, so he's still effective. He's just finding different ways to get it done.

In addition to having age and effectiveness on his side, K-Rod has also proven durable throughout his career, pitching fewer than 60 innings only once. However, that blip came in 2010 on account of an off-field incident in which the right-hander was involved in a violent altercation with his girlfriend's father. Rodriguez injured his hand, was lost for the season's balance, and forfeited a chunk of his salary upon being placed on the disqualified list by the Mets, his employer at the time.

It didn't do any favors toward changing Rodriguez's image as a volatile type, and though he reported to camp this spring in good shape and with a new attitude, he recently drew some criticism for voicing his displeasure about his role with the Brewers:

"I'm not fine," Rodriguez said. "They told me I'd have the opportunity to close some games, and we've had 20-some save opportunities since then and I haven't even had one."

As one AL exec recently told Buster Olney of ESPN.com, K-Rod's oddly timed comments probably won't help him in free agency this winter. So, where does all of this leave him?

Firstly, it seems highly unlikely the Brewers will offer Rodriguez arbitration, seeing as he earns $11.5MM this season. Most free agents typically eschew arbitration in favor of pursuing long-term deals, anyway, but it's a risk the Brewers won't want to take, because if he were to accept, he'd see a raise that would bring his salary to upwards of $13-14MM. That's a number Milwaukee won't want to pay, and since he'll be competing in free agency with the likes of Jonathan Papelbon, Ryan Madson, Heath Bell and several other accomplished relievers, K-Rod might very well accept.

Instead, with his suitors limited in a deep market, K-Rod may end up seeking a one-year contract — perhaps to set up — so that he can hit free agency again after 2012, when the market won't be as favorable for buyer's (one executive even suggested this scenario to Jayson Stark of ESPN.com). Last offseason, two righties with closing experience signed to set up. Bobby Jenks got two years and $12MM from the Red Sox, and Rafael Soriano got three years and $35MM from the Yankees. While K-Rod and Boras would be ecstatic with a contract like the one Soriano signed, that deal is probably the exception. The midpoint for Jenks' and Soriano's average annual salaries is roughly $9MM, and that seems a reasonable number for K-Rod's services on a one-year deal.

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Free Agent Stock Watch Milwaukee Brewers Francisco Rodriguez

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Free Agent Stock Watch: Jonathan Broxton

By Ben Nicholson-Smith | September 20, 2011 at 3:53pm CDT

Jonathan Broxton made a name for himself as someone who could overpower just about any hitter with his upper-90s fastball. He has been sidelined with right arm problems since May 3rd and when he returns there’s a good chance we’ll see a different kind of pitcher.

"The days of Jonathan Broxton throwing 99 and 100 [mph] might be over," agent B.B. Abbott told Dylan Hernandez of the LA Times last week. "But I think he can reinvent himself. He's still going to be 93-97.”

Broxton, who has struck out 11.5 batters per nine innings in his career, will have to get healthy before he transitions into a different style of pitching. The 27-year-old underwent arthroscopic surgery on his right elbow yesterday to remove a bone spur and loose bodies

It’s been a while since Broxton seemed like himself. He started the 2010 season in fine form and had a 0.83 ERA until June 27th, when he made 48 pitches and allowed four runs against the Yankees. Regardless of the impact that outing had on Broxton's health (Abbott told Hernandez that he doesn't blame the Dodgers), there's no debating what happened next. Broxton posted a 7.58 ERA in 29 2/3 more innings that year with nearly as many walks (23) as strikeouts (25). Then, Broxton’s 2011 season ended after just 12 2/3 innings with a 5.68 ERA and, once again, nearly as many walks (9) as strikeouts (10).

Next up for Broxton: injury rehab (he’s expected to start a throwing program in six to eight weeks) and his first career appearance on the free agent market. Broxton’s stock has dropped significantly in the last year-plus, so teams won’t look at him as a sure-thing closer when he tests the free agent market this offseason. He’ll look for the opportunity to compete for a closing job, though there are no guarantees.

"I think Jonathan is prepared to sign a one-year deal and reestablish his value," Abbott told Hernandez.

Could it be with the Dodgers, the organization that drafted him in 2002 and has employed him ever since? Abbott says it’s possible and that his client would enjoy pitching under manager Don Mattingly again in 2012. However, Mattingly told Hernandez that he doesn’t know whether Broxton would be a fit since it’s been so long since he appeared in a game.

"I don't even know how to answer that, really" the manager said.

That’s probably how lots of front offices feel about Broxton, a formerly dominant reliever who’s still young and powerful enough to reinvent himself successfully. It’s hard to imagine a multiyear deal for the two-time All-Star, though that seemed all but inevitable 15 months ago. Instead, a one-year, incentive-based deal seems likely for Broxton, as long as he recovers from yesterday’s operation and assures teams that his health has improved.

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Free Agent Stock Watch Los Angeles Dodgers Jonathan Broxton

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Free Agent Stock Watch: Michael Cuddyer

By Tim Dierkes | September 20, 2011 at 10:31am CDT

The Twins are all Michael Cuddyer has ever known.  They drafted him ninth overall as a high school shortstop in 1997, and he reached the Majors in 2001.  Cuddyer's Twins career has spanned 11 seasons and 1,130 games (plus 22 in the postseason) to date.  He's mostly played right field, but has also logged innings at the infield corners and second base.  Cuddyer's career batting line is .271/.343/.451, which is similar to his work this year.

Cuddyer

Cuddyer has earned about $29MM in his career, most of which comes from a multiyear contract he signed in January of 2008.  That became a four-year deal when the Twins exercised his $10.5MM option for 2011.  33 years old in March, Cuddyer is closer than he's ever been to free agency.  The Twins held on to him at both trade deadlines this year, despite interest from the Phillies, Braves, Giants, Red Sox, and Angels.  Cuddyer wants to stay, and the Twins reportedly floated a two-year, $16MM deal in August.  Joe Christensen said talks didn't get beyond that trial balloon, and the player prefers to resume talks after the season.  Cuddyer is represented by Casey Close of Excel Sports Management, as our agency database shows. 

In our latest Elias Rankings projections, Cuddyer profiles as a Type A free agent.  The Twins clearly want him back, but offering arbitration would result in a salary north of this year's $10.75MM salary.  My guess is that the Twins won't consider the draft picks worth the risk and will not offer arbitration if it gets to that point.  Cuddyer figures to be a popular free agent target in a market light on offensive depth, and his value will only increase if he doesn't cost a draft pick.  I think Cuddyer could find three years and $30MM on the open market, so the Twins might have to improve their offer to something in the three-year, $27MM range to get a deal done.  He "might need some convincing" to re-sign, tweeted ESPN 1500's Phil Mackey yesterday.  If talks with the Twins fall through, teams like the Red Sox, Athletics, Cubs, Cardinals, Rockies, and Giants are speculative suitors.  

Photo courtesy of Icon SMI.

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Free Agent Stock Watch Minnesota Twins Michael Cuddyer

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Jeremy Affeldt’s Option & Free Agent Prospects

By Ben Nicholson-Smith | September 19, 2011 at 10:39pm CDT

If the Giants allow Jeremy Affeldt to hit free agency this offseason instead of picking up the veteran left-hander’s $5MM option for 2012, his job prospects will probably be promising. Teams are always looking for southpaws to use out of the bullpen, Affeldt’s numbers are strong and the competition is weak.

Affeldt, whose season ended with a kitchen-related injury to his non-pitching hand, finished the year with a 2.63 ERA, 7.9 K/9, 3.5 BB/9 and a 62.1% ground ball rate in 61 2/3 innings this year. Those numbers reminded me of Scott Downs, the Angels left-hander who posted a 2.64 ERA with 7.0 K/9, 2.1 BB/9 and a 57.8% ground ball rate in 61 1/3 innings a year ago with the Blue Jays. The result for Downs: a three-year deal worth $15MM despite the Type A designation that hinders the earning potential of so many free agent relievers.

Even if San Francisco offers Affeldt arbitration, teams won’t have to surrender a draft pick to sign the projected Type B free agent. At 32 years of age, Affeldt remains relatively young – three years younger than Downs and markedly younger than most of the other free agent southpaws.

Peripheral stats such as xFIP (3.37), SIERA (2.88) and average fastball velocity (93.1 mph) all suggest that Affeldt’s impressive 2.63 ERA is no fluke. And while some lefty relievers post eye-catching stats because their managers barely let them face right-handers, Affeldt can hold off right-handed hitters, too (7.4 K/9, 4.7 BB/9, 57.1% ground ball rate).

The competition in terms of free agent left-handed relievers doesn’t figure to be strong. There’s Darren Oliver, a 40-year-old who could very well cost a draft pick. Affeldt’s teammate, Javier Lopez, is a capable pitcher who walks one batter per two innings. Mike Gonzalez of the Rangers will draw interest, though he has had an up and down season. And George Sherrill has impressive stats, but he can’t be trusted against right-handed hitters. In other words, the free agent market is unimpressive.

Affeldt is a veteran of multiyear contracts, having signed one two-year deal with the Giants in 2008 and another one in 2010. If San Francisco turns down its 2012 option, Affeldt’s representatives at Moye Sports Associates will have a strong case for a third multiyear deal in free agency. Affeldt, the Giants' 2011 nominee for the Roberto Clemente Award, would enter a market that won’t offer much in terms of free agent left-handers. Don’t be surprised if the Giants decline Affeldt’s option and he goes on to sign a multiyear deal for the third time in his career.

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Free Agent Stock Watch San Francisco Giants Jeremy Affeldt

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Free Agent Stock Watch: Cody Ross

By Ben Nicholson-Smith | September 19, 2011 at 3:45pm CDT

Cody Ross would have been better off hitting free agency last year, after the Giants won the World Series and Ross hit five postseason home runs on his way to winning the NLCS MVP. It's not that his season numbers are that different this year, but Ross would have had some buzz if he had hit free agency after his strong finish and postseason heroics in 2010. This year, San Francisco will in all likelihood miss the playoffs, so there's no way for Ross to supplement his pedestrian season stats.

Cody Ross

The 30-year-old outfielder has a .240/.325/.405 line with 14 homers in 461 plate appearances for the Giants this year, not far off of the .269/.322/.413 line and 14 homers he had for the Marlins and Giants a year ago. Yet Ross no longer seems critical to the Giants’ success, as he did a year ago.

To his credit, Ross raised his walk rate to a career-best 10.6% in 2011 and played all three outfield positions, marking the fourth time in the past five seasons that he has appeared in left, center and right.

Though he hoped for a long-term extension with the Giants as recently as this spring, reality has since set in. The Giants seem unlikely to offer Ross a raise from his current $6.3MM salary or sign off on a multiyear deal, according to Henry Schulman of the San Francisco Chronicle. 

If the Giants are indeed hesitant to pay Ross more than $6.3MM, they may decide against offering arbitration after the season. Ross projects as a Type B free agent, which means San Francisco would obtain a top pick in next year’s draft if the New Mexico native declines their offer and signs elsewhere. 

Given Ross’ free agent prospects, he could receive encouragement from his representatives at SFX to accept should the Giants offer arbitration. If they don’t offer arbitration, he would appear to be in line for a one-year Major League deal on the open market. He has had enough success in his career, particularly against left-handers (career .912 OPS), for teams to guarantee him a few million dollars and a roster spot, but his luster has disappeared, so a multiyear deal would now be a coup for Ross and his agency.

Photo courtesy Icon SMI.

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Free Agent Stock Watch San Francisco Giants Cody Ross

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Free Agent Stock Watch: David DeJesus

By Luke Adams 2 | September 18, 2011 at 9:56pm CDT

When the Athletics acquired David DeJesus last winter, the outfielder's stock was at a high. Although he appeared in only 91 games in 2010, DeJesus posted career highs in average (.318), OBP (.384), and OPS (.827), and played his usual solid corner outfield defense. Unfortunately for the A's, DeJesus has followed up that performance with perhaps the worst season of his career. In 125 games with Oakland, the 31-year-old has hit .236/.322/.369, his OPS dropping nearly 140 points from a year ago.

AAH110506105_Athletics_v_Royals It's likely little consolation to the A's that the main piece they traded for DeJesus, young right-hander Vin Mazzaro, took a step back this year in Kansas City. Mazzaro still has time to turn things around for the Royals, while DeJesus figures to become a free agent in a matter of weeks.

As our latest Elias projections show, DeJesus comfortably ranks as a Type B, so he won't cost a draft pick even if he turns down arbitration. Of course, with a salary of $6MM this year, DeJesus might be a good bet to accept an arbitration offer, given this season's performance. The payroll-conscious A's could probably only offer arb to the outfielder if he agreed to decline it in order to net them a draft pick. Either way, DeJesus figures to hit the open market.

This year's class of outfielders isn't particularly stacked, so despite his down year, DeJesus should draw interest. His batting average on balls in play (.271) is 45 points below his career mark, and his walk rate (9.1%) matches a career high, suggesting that he's a candidate to bounce back. It wouldn't be the first time he came back strong after a disappointing year – he followed up a subpar 2007 season (.722 OPS) by hitting .307/.366/.452 in 2008.

So what sort of contract could make sense for both DeJesus and an interested team? Carlos Pena's deal with the Cubs could be an interesting comparison. The two are very different players, and DeJesus won't earn the $10MM the Cubs are paying Pena for a year of his services, but their career trajectories are similar. Pena entered free agency for the first time last year coming off his worst season, and elected to sign a one-year deal, presumably in hopes of rebuilding his value and landing a multiyear contract this coming winter. The approach seems to have worked – Pena's OPS has jumped 100 points in Chicago this season, setting him up nicely for the offseason.

For DeJesus, a one-year deal playing in a better hitter's park than Oakland's could be the most effective way to rebuild his value and earn a bigger payday down the road. Given the outfielder's promising peripheral numbers, the team that signs him could very well be getting solid value for 2012.

Photo courtesy of Icon SMI.

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Athletics Free Agent Stock Watch David DeJesus

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Free Agent Stock Watch: Ryan Madson

By Ben Nicholson-Smith | September 16, 2011 at 10:32am CDT

A total of 17 relief pitchers signed multiyear deals last offseason and while there’s no guarantee that owners will spend just as freely this year, it won’t be surprising if they do. So with a number of closing jobs opening up around baseball, Ryan Madson’s job prospects are promising.

The 31-year-old right-hander has been consistently effective since returning to the bullpen in 2007, so agent Scott Boras will be able to point interested teams to an array of impressive stats. There’s Madson’s 2.63 ERA (supported by his 2.59 SIERA and 3.06 xFIP), his 94.1 mph fastball and his 31 saves. His peripheral stats are also strong – 0.33 HR/9, 9.1 K/9, 2.6 BB/9 and a 50.7% ground ball rate – and he can handle hitters on both sides of the plate.

There's a line of thinking that opposes major commitments to relievers given the volatility of their stats from year to year and their limited ability to shape the outcome of a game or season (in relation to starting pitchers or position players). The era of four and five year deals for top closers may be over, but Boras can point to Madson's consistency in an attempt to obtain multiyear offers. The 6'6" Californian has kept his ERA at 3.26 or below, pitched at least 53 innings and struck out at least 6.9 batters per nine innings every season since 2007. 

Like Jonathan Papelbon, who will probably be the top free agent reliever of the year, Madson projects as a Type A free agent. Given the Phillies’ need for relief help and Madson’s current salary of $4.5MM, an offer of arbitration seems likely. Assuming Madson declines, he’ll cost teams other than the Phillies a top pick in next year’s draft, which will reduce some clubs’ interest.

A pair of MLB executives recently predicted to ESPN.com’s Jayson Stark that Madson will sign a deal like the one Jose Valverde obtained two winters ago: $14MM over two years plus an option (Valverde was a Type A free agent at the time). Madson seems destined for a multiyear deal and a three-year contract seems likely to me. Setup men such as Joaquin Benoit, Jesse Crain, Matt Guerrier and Scott Downs found three-year deals last winter and Boras obtained $35MM over three years for Rafael Soriano. It's hard to imagine Madson signing for that much money, but some general managers and owners will probably be willing to guarantee Madson a third year for the promise of bullpen stability.

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Free Agent Stock Watch Philadelphia Phillies Ryan Madson

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Free Agent Stock Watch: Javier Vazquez

By Ben Nicholson-Smith | September 12, 2011 at 4:36pm CDT

Javier Vazquez’s season ERA is an unremarkable 4.13. But consider that it was over 7.00 midway through June and the ERA seems outstanding.

It took a dominant second half for Vazquez to recover from his early-season struggles. Since the beginning of July he has a 2.45 ERA with 8.6 K/9 and 1.7 BB/9 in 84 1/3 innings. In other words, he has resembled the pitcher who finished fourth in the Cy Young voting two years ago, not the one who posted a 5.32 ERA in a disappointing return to the Bronx in 2010. 

Javier Vazquez

Vazquez’s season numbers are better than they were a year ago. He has pitched 167 2/3 innings with encouraging peripherals: 7.5 K/9, 2.6 BB/9, 4.00 xFIP and an average fastball velocity of 90.3 mph, up from 88.7 mph a year ago.

Durability hasn’t been an issue for Vazquez, who has started at least 25 games and logged at least 150 innings every season since 1997. He’s the active leader in strikeouts with 2,514 and remains a viable option for teams looking to add depth to their rotations.

Not every team is a fit for Vazquez, though. He has preferred East Coast teams for their relative proximity to his native Puerto Rico, so clubs like the Padres and Dodgers are at a significant disadvantage. Vazquez appears to be considering retirement seriously, so it’s hard to imagine him returning for a 15th season unless it’s the right fit.

At this point in his career, Vazquez is an extreme fly ball pitcher – only four pitchers with 100 innings pitched or more have a lower ground ball rate than Vazquez’s 33.1%. He has always been homer-prone, so the jump in fly balls suggests teams with cozy stadiums should steer clear of Vazquez despite his recent dominance.

The Mets and Marlins, two East Coast clubs, play in parks that suppress home runs (according to ESPN’s park factors), but the Marlins move into a new stadium next year and it’s unclear how pitcher-friendly their new home will be. The Florida front office could offer Vazquez arbitration after the season, but draft pick compensation won’t be a factor, since the 35-year-old doesn’t project as a ranked free agent. 

Given Vazquez’s age and interest in retirement, another one-year deal seems likely for the ACES client. His summer surge has seemingly eliminated the possibility that he’ll have to settle for a minor league deal and it may have set him up for another contract in the $7MM range.

Photo courtesy Icon SMI.

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Free Agent Stock Watch Miami Marlins Javier Vazquez

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Free Agent Stock Watch: Ramon Hernandez

By Tim Dierkes | September 12, 2011 at 11:14am CDT

During the period of 2003-06, Ramon Hernandez was consistently among the top ten offensive catchers in the game.  He hit .278/.335/.466 in 494 games in that time, averaging almost 19 home runs per season.  Fortunately for Hernandez, he reached free agency when he was still in his prime, and he scored a four-year, $27.5MM deal with the Orioles in December of 2005.

Hernandez

After three years in Baltimore Hernandez had worn out his welcome, and the Orioles shipped him to the Reds with cash for Ryan Freel, Justin Turner, and Brandon Waring.  Hernandez wasn't great in his first year with the Reds, but they re-upped him for $3MM anyway.  He managed to improve his batting average and power, but re-signed with the Reds again for the same money.  Hernandez has had another solid offensive year in 2011, though he is averaging less than 100 games per season.  Hernandez has re-entered the discussion of the ten best offensive catchers in baseball, but he's something less than a regular and will turn 36 in May.

Hernandez re-signed in November both times, before the Reds were forced to decide whether to offer arbitration.  If no deal is reached by the free agent arbitration offer deadline this year, the Reds will have a tough decision.  Hernandez profiles as a Type A free agent.  At the trade deadline, Reds GM Walt Jocketty wasn't even willing to listen to offers for him, under the assumption no team would offer enough.  In August, Hernandez was claimed off waivers but Jocketty again chose not to make a deal.

Jocketty's unwillingness to trade Hernandez suggests he's thinking of re-signing Hernandez, or at least is mulling an arbitration offer.  Hernandez and his agent Eric Goldschmidt are aware that turning down an arbitration offer from the Reds would hurt his market value, as a team would have to surrender a draft pick to sign him.  There's a case to be made for accepting an offer, as Hernandez clearly likes Cincinnati and he'd get a raise too.  But with Devin Mesoraco considered the catcher of the near future for the Reds and backup Ryan Hanigan locked up through 2013, how much playing time would Hernandez get?  The Reds could trade Hernandez if he accepts, at which point the catcher would probably wish he had simply chosen his destination in free agency.

There's an intricate game of cat-and-mouse when a free agent like Hernandez gets Type A status.  The Reds could play it safe and not offer arbitration, but then they'd risk getting nothing for him.  I think the club has more leverage here, since Hernandez would be tradeable if he accepts.  If he declines Hernandez would probably be the best catcher available on the free agent market, but he'd be a better fit for a team with a protected first-round draft pick.

Photo courtesy of Icon SMI.

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Cincinnati Reds Free Agent Stock Watch Ramon Hernandez

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Free Agent Stock Watch: Casey Kotchman

By Mike Axisa | September 10, 2011 at 10:24am CDT

357110821397_Mariners_at_Rays The Rays signed a middle of the order hitter last offseason, but it wasn't Manny Ramirez. After just five games with Tampa, Manny abruptly retired rather than face a second suspension for testing positive for a banned substance. The Rays filled Ramirez's roster spot by promoting Casey Kotchman from Triple-A, and five months later, he's the middle of the order bat the team thought it was getting in Manny.

Kotchman, still just 28, has stepped in and hit .312/.380/.429 in 487 plate appearances since being promoted. He isn't hitting for much power (just eight homers), but he's drawing walks (42) and putting the ball in play (55) while providing his usual strong defense. After years of struggling against left-handers, Kotchman is hitting a respectable .300/.336/.367 against southpaws this season. 

There are reasons to believe that the improved performance is unsustainable, however. Kotchman's batting average on balls in play (.341) is the highest of his career (by far) even though there's been no significant change in his batted ball profile. More than half of the balls he puts in play are hit on the ground, just a quarter are fly balls, and fewer than one in five is a line drive. It could work, but it hasn't for him in the past.

Low power first baseman usually aren't in high demand on the free agent market, especially ones with the proverbial "one good year." That said, Kotchman could be a nice, budget friendly alternative to stopgap first basemen like Derrek Lee, Lyle Overbay, and Carlos Pena. The Diamondbacks, Pirates, and Dodgers could all be looking for help at first this winter, and of course re-signing with the Rays is always a possibility as well.

Photo courtesy of Icon SMI.

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Free Agent Stock Watch Tampa Bay Rays Casey Kotchman

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