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Yankees, Erik Kratz Agree To Minor League Deal

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The Yankees have agreed to a minor league contract with free-agent catcher Erik Kratz, MLB Network’s Jon Heyman tweets. He’s represented by the Ballplayers Agency.

Kratz, 39, will return for a yet another stint in the Yankees organization and bring a highly respected clubhouse veteran to the team’s catching depth chart. New York originally acquired Kratz in a cash deal with the Indians back in 2017, and this marks the third time the Yanks have signed him to a minor league contract since that deal. With Austin Romine departing to the Tigers on a one-year deal, Kyle Higashioka is the expected backup to Gary Sanchez, but Kratz seems likely to vie for a roster spot in Spring Training.

The veteran Kratz has spent parts of 10 seasons in the Majors, logging a collective .205/.252/.354 batting line through 921 plate appearances. He’s halted 32 percent of stolen-base attempts against him in his career and regularly puts up strong numbers in terms of both pitch framing and blocking pitches in the dirt. He’ll turn 40 next June but nevertheless enjoyed a .299/.375/.500 slash in 176 plate appearances with the Yankees’ Triple-A affiliate in Scranton last year. Given that Kratz and his family live close to the Scranton area, he’ll have the opportunity to continue playing close to home even if he doesn’t break camp with the Yankees’ Major League club.

AL East Notes: Panik, Tsutsugo, Roark, Abad, Holmes

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The Yankees have had discussions about signing second baseman Joe Panik, ESPN.com’s Buster Olney tweets, as New York continues to look for ways to both add infield depth and add left-handed balance to a lineup that is loaded with righty swingers.  Panik is a left-handed bat, though he is coming off a pair of subpar years at the plate — the veteran has only a .249/.311/.334 slash line over 883 plate appearances since the start of the 2018 season.  These struggles prompted the Giants to part ways with their longtime second baseman last summer, though Panik hit better after catching on with the Mets for 39 games in 2019.  The 29-year-old Panik also has the bonus of being a native New Yorker, born in Yonkers and a product of St. John’s University.

With Gleyber Torres likely to shift from second base to shortstop, the keystone could be occupied by DJ LeMahieu if the Yankees don’t prefer to use LeMahieu primarily as a first baseman.  Tyler Wade and Thairo Estrada are the top in-house options for the utility infield or part-time second base jobs if LeMahieu is indeed slated mostly for first base work, though the Yankees could prefer to be as flexible as possible with LeMahieu based on matchups.  In this sense, Panik’s lack of defensive versatility could be a detriment to his chances at a Yankees deal; Panik has played all but one of his 682 MLB games as a second baseman, with the lone exception being one game at first base for San Francisco in 2018.

Here’s more from around the AL East…

  • The Rays’ two-year, $12MM contract with Yoshitomo Tsutsugo wasn’t the highest offer received by the outfielder, though the team’s strong courtship of the Japanese slugger eventually convinced him to come to Florida, Marc Topkin of the Tampa Bay Times writes.  The Rays were the first team to contact Tsutsugo after he was posted by Yokohama, they provided him with a thorough 20-page booklet about the club and the Tampa area, and a six-person crew that included manager Kevin Cash and GM Erik Neander visited Tsutsugo in person prior to the Winter Meetings, while Tsutsugo was working out in Los Angeles.  All of the wooing paid off for the Rays, who now welcome a player with 185 homers over his last six seasons in Nippon Professional Baseball.
  • The Blue Jays made a similar big push to land Tanner Roark, as the right-hander told reporters (including Kaitlyn McGrath of The Athletic) that Toronto was the first team to get in contact with his representatives as free agency opened.  “They knew what they wanted, and they wanted me and it’s exciting to have someone want you like that,” Roark said.  Pitching coach Pete Walker also told McGrath that he and Roark “just seemed to hit it off” during a 25-minute phone call.  Roark ended up inking a two-year, $24MM deal with the Jays, and is looking forward to being a veteran leader within Toronto’s young clubhouse.
  • The Orioles had several conversations with Fernando Abad before the left-hander signed with the Nationals, MASNsports.com’s Roch Kubatko reports.  With Abad now off the board, the O’s will continue to look for low-cost experience for their bullpen.
  • Also from Kubatko, the Orioles have hired Darren Holmes as their new bullpen coach.  Holmes worked in the same role with the Rockies for the previous five seasons.  A veteran of 13 MLB seasons, Holmes’ playing career included a brief five-game stint as a member of the Orioles in 2000.

MLB Players Union Files Grievance On Behalf Of Jacoby Ellsbury

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The MLB Players Association has filed a grievance against the Yankees in regards to the team’s plans to withhold Jacoby Ellsbury’s salary for the 2020 season, Ronald Blum of the Associated Press reports.  The matter will be heard by an arbitrator, with no timeline given as to when the hearing will take place or when a decision could be rendered.

Some type of official challenge on the union’s behalf was a given, once the Yankees’ intentions were made public last month.  At the time, the MLBPA released a statement saying the union “will vigorously defend any action taken against Jacoby or his contract and is investigating potential contract violations by his employer.”

Ellsbury signed a seven-year, $153MM deal with the Yankees prior to the 2014 season that has turned out to be one of the most notable free agent busts in recent memory.  Injuries have kept Ellsbury off the field entirely for the last two seasons, and he only hit .264/.330/.386 in 2171 PA over his first four seasons in New York (with injuries also limiting the outfielder in two of those four years).  The Yankees finally released Ellsbury last month, with $26,142,857.15 still remaining in the last year of his deal — his guaranteed salary, and the $5MM buyout of his club option for the 2021 season.

However, the Yankees took the very unusual step of arguing that Ellsbury’s remaining earnings should be voided, alleging that Ellsbury underwent medical treatment without the team’s permission.  As Blum notes, “Ellsbury contends any treatment he received without authorization was for a non-baseball-related injury or condition, which does not require the club’s consent.”  The Yankees, Ellsbury, and Ellsbury’s agent Scott Boras all declined to comment on the matter.

The arbitrator’s ruling will obviously have a significant financial impact on Ellsbury, and also on the Yankees’ ability to avoid paying a maximum luxury tax penalty in 2020.  The club has a projected tax bill of just under $261.6MM for the 2020 season, as per Jason Martinez of Roster Resource, well beyond the $248MM that represents the highest level of taxation threshold.  The Yankees therefore face a ten-slot drop in their top position in the 2021 draft, as well as a bill of 42.5% of every dollar spent over the threshold.

Trade Rumblings: Lindor, Padres, Dodgers, Betts, Yanks, Schwarber

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The Padres have at least kicked around the idea of attempting to swing a deal for Indians shortstop Francisco Lindor, Ken Rosenthal of The Athletic reports (subscription link). However, Rosenthal cautions that the superstar probably won’t end up in San Diego, which already has an enviable left side of the infield between shortstop Fernando Tatis Jr. and third baseman Manny Machado. In the unlikely event the Padres do wind up with Lindor, it seems they’d try to turn Tatis into a multi-position player (primarily a center fielder), though Rosenthal notes doing so could displease the 20-year-old and would likely receive pushback from his representatives. That’s important considering San Diego’s desire to extend the phenom.

On the plus side, in addition to picking up an elite player in Lindor, the Padres would keep him away from the division-rival Dodgers, who have been connected to him this winter. But the Lindor-related talks between LA and Cleveland have only been “preliminary” to this point, per Buster Olney of ESPN (subscription). The Indians, for their part, aren’t necessarily under pressure to trade Lindor right now – he still has two years’ control left and remains the best player on a team that has been a consistent playoff contender in recent seasons. That said, the Indians don’t appear to have much of a chance to extend Lindor, so perhaps they’ll be open to parting with him this winter.

Let’s check in on a couple more of baseball’s highest-profile trade candidates…

  • 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.
  • More from Rosenthal, who writes that the Yankees’ years-long interest in Cubs outfielder Kyle Schwarber has continued. Nevertheless, there’s no momentum toward a deal as of now, Rosenthal adds. Schwarber has been a favorite of the Cubs’ front office, though trading him could be part of an offseason shakeup for a club that fell apart late in 2019. The 26-year-old slugger still has two seasons of arbitration eligibility remaining, and he’s coming off a pair of above-average campaigns, so he’d likely be difficult for the Yankees or anyone else to acquire.

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.

Yankees Sign Gerrit Cole

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The Gerrit Cole sweepstakes has reached an end just over a month after the start of free agency. The Yankees have agreed to sign the ace right-hander to a nine-year, $324MM contract, Jon Heyman of MLB Network reports. It includes a full no-trade clause and an opt-out clause after the fifth year, per Jeff Passan of ESPN.

It’s a historic pact for Cole, a Scott Boras client who has landed the largest deal ever for a pitcher and the second-greatest payday in the history of major league free agency. Cole has smashed the seven-year, $245MM contract righty Stephen Strasburg signed with the Nationals earlier this week, and he nearly matched the $330MM guarantee outfielder Bryce Harper received from the Phillies last offseason. But Harper’s money will come in over 13 years, meaning Cole has easily eclipsed him in average annual value. Cole will take home a whopping $36MM per year.

For the Yankees and general manager Brian Cashman, the addition of Cole brings to an end a years-long pursuit of the Southern California native, who was a fan of the club growing up. The Yankees selected Cole in the first round of the 2008 draft, but he elected to attend UCLA instead. It proved to be a wise decision for Cole, who further improved his stock as a Bruin and wound up as the No. 1 overall pick of the Pirates in 2011.

Cole, who debuted in the majors in 2013, generally thrived in Pittsburgh through 2017. However, the Pirates knew they wouldn’t be able to reach an extension with Cole, so they traded him to Houston prior to the 2018 campaign. The Yankees were among the teams the Astros upended to acquire Cole, which proved costly for New York. Thanks in large part to Cole, the Astros took down the Yankees in this fall’s American League Championship Series, though Houston fell to Strasburg and the Nationals in the World Series.

The Yankees couldn’t beat Cole, but he’ll now join them after he found another gear in Texas. Cole became a truly elite pitcher as a member of the Astros, with whom the flamethrower posted back-to-back 200-inning seasons of sub-3.00 ERA ball. He was particularly amazing in 2019, when he amassed a jaw-dropping 326 strikeouts with a 2.50 ERA/2.64 FIP across 212 1/3 frames. That performance wasn’t enough to defeat then-teammate Justin Verlander for AL Cy Young honors, but it was enough to help earn Cole an absolutely massive payday. This deal blows past the eight-year, $256MM that MLBTR predicted Cole would receive this offseason.

The Yankees now have a lights-out workhorse to accompany Luis Severino, James Paxton and Masahiro Tanaka as their top four starters, and the Cole signing indicates they and owner Hal Steinbrenner aren’t concerned about paying the luxury tax going forward. With Cole’s money factored in, Jason Martinez of Roster Resource estimates the Yankees are on track to spend just under $250MM in 2020, which is without having made any other additions. If that holds up, the Yankees will exceed the highest tax penalty of $248MM next season. Doing so would subject the Yankees to a 42.5 percent overage tax for outspending the threshold by $40MM or more. It’s possible, however, that the Yankees will shave off some of their tax bill if they’re able to trade $17MM left-hander J.A. Happ, a rumored candidate for a change of scenery who now looks all the more likely to exit now that Cole is in the fold.

The Cole pickup represents an act of free-agency aggression that late Yankees owner George Steinbrenner would have saluted. It’s also a sign the Yankees are all-in toward returning to the top of the major league mountain for the first time since 2009. Not only does Cole look as if he’ll greatly strengthen their roster, but it’s a major blow to their biggest AL competition, the Astros. Undoubtedly, Cole’s decision is also an enormous disappointment to both Los Angeles-based teams, who all along joined the Yankees as the most obvious-looking fits to sign him. Those two teams will now have to look elsewhere in a free-agent market that has moved much quicker than in recent years, and has already seen several of its best players sign in a matter of weeks.

While Cole should have a hugely positive effect on the Yankees’ near-term chances, it’s clear this deal presents a sizable risk for the club. Assuming Cole doesn’t opt out after the fifth season, the 29-year-old will pitch almost the entirety of his 30s on this contract. The good news for the Yankees is that Cole has never had anything as major as Tommy John surgery. However, he did miss a large portion of 2016 with injuries, including to his elbow. Cole has since bounced back with three consecutive 200-inning seasons, though signing pitchers to long-term, big-money contracts is nonetheless risky, which will leave the Yankees to hope he continues to hold up as he ages.

Should Cole exercise his opt-out provision in the 2024-25 offseason, the Yankees will have the opportunity to void that decision by extending him for an additional year and $36MM, Ken Rosenthal of The Athletic reports (Twitter link).  Cole would need to be willing to walk away from four years and $144MM at age 34 for that clause to be relevant, and the Yankees would likewise need to be willing to pay him a total of $180MM for his age-34 through age-38 seasons to void the opt-out decision. It doesn’t seem particularly likely that the clause will come into play, but in the event that it does, Cole would earn $360MM over a decade-long term with the Yankees.

While all free agents bring some level of concern, that hasn’t stopped Boras from securing a windfall of cash for his clients this offseason. After helping get Harper his contract last year, Boras has seen Cole and Strasburg collect a combined $569MM this winter. He may help negotiate yet another $200MM-plus deal next for third baseman Anthony Rendon, who just took over as the No. 1 free agent available now that Cole’s off to the Bronx.

Yankees Announce Gerrit Cole Signing, Designate Chance Adams

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As expected, the Yankees have formally announced their blockbuster deal with free agent starter Gerrit Cole. Fellow right-hander Chance Adams was designated for assignment to create roster space.

A newly clean-shaven Cole is set to be introduced at a press conference today. The club has not confirmed the financial details of the arrangement — it’s reported to come with an eye-popping $324MM guarantee — but did announce the nine-year term of the deal and the post-2024 opt-out opportunity.

As for Adams, 25, he has been with the Yankees organization since he was selected in the fifth round of the 2015 draft. He struggled in his early MLB opportunities, allowing 30 earned runs in just 33 frames over the past two seasons. Adams has spent most of the past three campaigns at the Triple-A level, where he owns a 4.04 ERA with 8.6 K/9 and 4.0 BB/9. The righty once ranked among the organization’s top five prospects and, prior to the 2017 season, was ranked as the No. 81 prospect in the game by Baseball America. Things clearly haven’t panned out as hoped, but Adams does have a minor league option remaining and could hold some appeal to rebuilding clubs in need of pitching depth.

Yankees To Sign Adam Warren

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The Yankees have reached agreement on a minor-league contract with righty Adam Warren, per Ken Rosenthal of The Athletic (via Twitter). He’ll receive an invitation to MLB camp as a non-roster invitee. It’s a two-year arrangement, MLB.com’s Mark Feinsand notes on Twitter, which recognizes the fact that Warren is returning from Tommy John surgery.

The contract includes a $800K salary in the event that Warren is able to earn his way onto the big league roster. He can also pick up another $700K in incentives based upon appearances. The deal includes an August 28th opt-out clause, Rosenthal adds, which perhaps suggests that Warren is hoping to rehab on a fairly aggressive timetable from his September procedure.

Warren, 32, first cracked the majors with the Yanks and has spent parts of seven seasons in two prior stints in the Bronx. He pitched for the Padres in 2019, struggling to a 5.34 ERA in 28 2/3 innings with 7.8 K/9 and 3.8 BB/9.

MLBTR Poll: Best $200MM-Plus Contract

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When it comes to the money handed out, this has been one of the most active weeks in the history of Major League Baseball. At the Winter Meetings, we saw two right-handers – Gerrit Cole (nine years, $324MM) and Stephen Strasburg (seven years, $245MM) – as well as third baseman Anthony Rendon (seven years, $245MM) secure contracts worth a combined $814MM. All three are clients of super-agent Scott Boras, which makes this a glorious week for him. But which of these deals will work out the best?

Let’s start at the top with Cole, now the highest-paid pitcher the game has ever seen. He’s emigrating from the Astros to the rival Yankees, who finally reeled in their so-called white whale. Led by general manager Brian Cashman, the Yankees had previously chased Cole on multiple occasions, only to come up short. Of course, the 29-year-old Cole would’ve been much cheaper in the past, but he’s now the most expensive player on the Yankees’ roster.

Before Cole signed with the Yankees, Strasburg briefly had the honor of owning the richest all-time payday among MLB pitchers. Strasburg earned that after several stellar seasons in Washington, where he collected World Series MVP honors in 2019 after the Nats took down Cole and the Astros. Washington couldn’t let Strasburg go in the wake of his fall heroics, instead retaining him to keep forming a dominant trio with Max Scherzer and Patrick Corbin. Although Strasburg, 31, is much cheaper than Cole, it’s worth noting he’s a couple years older.

Rendon joined Strasburg as an indispensable part of the Nationals’ 2019 title-winning club, but the Nats weren’t ready to go all-out to keep both of them. As a result, Rendon exited after the Strasburg re-up to accept the Angels’ offer on Wednesday. The Angels hope the 29-year-old Rendon and the game’s best player, center fielder Mike Trout, will help spark a playoff run in 2020 after years of irrelevance.

There’s no going back for the teams that signed Cole, Strasburg or Rendon. All three are locked into their incredibly large guarantees for the foreseeable future. In your opinion, though, which deal will work out the best?

(Poll link for app users)

Whose contract will work out the best?
Anthony Rendon 49.60% (10,085 votes)
Gerrit Cole 38.81% (7,891 votes)
Stephen Strasburg 11.58% (2,355 votes)
Total Votes: 20,331

Pitching Rumors: Ryu, Leclerc, Betances, Hader, Thor

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Earlier this week, Dodgers president of baseball operations Andrew Friedman told Bill Plunkett of the Orange County Register and other reporters that he has discussed a new deal for Hyun-Jin Ryu with agent Scott Boras. For now, though, Ryu’s under the impression his longtime club isn’t particularly interested in bringing him back. “If the Dodgers wanted to re-sign me, they would have told my agent,” the left-hander said (via Yonhap News Agency). “I haven’t heard from him yet, and honestly, I don’t have much to tell you right now.” Ryu and Madison Bumgarner, another potential Dodgers target, represent the two best free-agent starters left in a market that has lost Gerrit Cole and Stephen Strasburg over the past few days. Should the Dodgers fail to sign either of them, it’s unclear where they’ll turn if they’re determined to land another high-end starter.

  • Rangers right-handed reliever Jose Leclerc is generating “a lot of interest” from other clubs, Levi Weaver of The Athletic tweets. That said, it’s not known whether the Rangers are open to trading their most valuable reliever – whom they signed to a team-friendly extension last offseason. The hard-throwing Leclerc, 25, is controllable for five more seasons (including two club options) and is only due a guaranteed $12.25MM over the rest of his deal. That’s one of the reasons he’d likely bring back a quality haul in a trade, which could create a conundrum for general manager Jon Daniels.
  • It appears increasingly likely that reliever Dellin Betances’ time with the Yankees is up. There’s no “active dialogue” between the Yankees and the free-agent righty’s camp, Joel Sherman of the New York Post reports. The 31-year-old Betances was excellent as a Yankee until injuries derailed him in 2019, when he faced a total of two batters. It seems the Yankees have turned their attention to another established reliever, Brewers lefty Josh Hader, whom they’re reportedly pursuing on the trade market. But Sherman throws a bit of cold water on that, writing that the two teams “did not seem to have substantial traction” in talks as the Winter Meetings wrapped up.
  • The Mets just added two starters in Rick Porcello and Michael Wacha, giving them at least viable rotation candidates. Those somewhat modest signings won’t affect righty Noah Syndergaard’s place on the team’s roster, though. GM Brodie Van Wagenen continues to insist the Mets are not going to trade Syndergaard, Sherman relays. In fact, with Jacob deGrom, Syndergaard, Marcus Stroman, Steven Matz, Porcello and Wacha as the Mets’ top six starters, Van Wagenen’s of the belief that they have the deepest rotation in baseball.
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