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Offseason Outlook: Atlanta Braves

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MLBTR is publishing Offseason Outlooks for all 30 teams.  Click here to read the other entries in this series.

The Braves’ intriguing assemblage of young talent has already proven capable of winning a surprise division title, but there’s still work to be done if GM Alex Anthopoulos is to preside over a perennial contender.

Guaranteed Contracts

Arbitration-Eligible Players (projections via MLBTR contributor Matt Swartz)

Free Agents

[Atlanta Braves Depth Chart | Atlanta Braves Payroll Outlook]

Braves fans rightly basked in the success of the club’s fun and youthful 2018 roster, which won the NL East and reached the postseason for the first time since 2013.  Of course, as the club’s front office acknowledged, being bumped from the tournament by the Dodgers also served as a reminder of the work left to be done. Overcoming the consecutive National League champs isn’t the only looming hurdle — within the division alone, the Nationals, Phillies, and Mets are all positioned to add additional pieces this winter to their already-talented rosters.

It’s unlikely the Atlanta organization will out-spend those organizations, but that doesn’t mean it won’t have as much or more free cash to work with this winter than almost any (excepting the Phillies) of its chief rivals. The Braves have started each of the past two seasons at around $120MM in payroll. That’s expected to move up, due in no small part to a ballpark-driven profit surge, though the upper boundary isn’t really clear and may also not be reached during the offseason. As things stand, the team is slated to pay something on the order of $75MM to less than half of its roster: Freddie Freeman ($21MM), Darren O’Day ($9MM), Julio Teheran ($11MM), Ender Inciarte ($5MM), and Tyler Flowers ($4MM) have guaranteed contracts. Kevin Gausman, Mike Foltynewicz, and Arodys Vizcaino project to cost about $20MM, while the club will surely spend a few million more to keep some of its other, less-expensive arb-eligible players.

As MLBTR contributor Rob Huff just examined in full detail, it certainly seems as if the Braves will have something in the realm of $50MM to play with in 2019 payroll, if not even more, though that still probably comes with some caveats. For one thing, Anthopoulos has also repeatedly cautioned against expecting a monumental outlay in free agency. (For instance, he has said: “I think the one [signing] where you scratch and really push, and you want to call it overpay in years or dollars, you feel like that’s the one final piece….I don’t think we’re there yet right now.”) For another, the club may be wary of committing too much future money to lure free agents in a bid to improve the current roster. Binding up long-term payroll space, after all, could create downstream problems when it comes time to add new pieces and pay the young players who are currently forming such an intriguing core.

Wild spending won’t happen, but there’s flexibility aplenty. In theory, at least, the Braves can afford to acquire just about any player they want, and they can fit multiple significant salaries if they’re willing to forego the top-tier free agents. With so much near-term availability, one possible strategy would be to front-load any significant free-agent deals, thus increasing the value of their offer while keeping future balance sheets clear, much as the Cubs did when they signed Jon Lester. Meanwhile, the Braves have one of the most compelling treasure chests of trade assets in baseball. In particular, young arms abound, and the Braves will surely explore parting with some to condense a relatively expendable portion of their talent base into MLB assets.

So, where are the needs and how might they be addressed? While the roster holes are mostly on the position-player side, I’d actually argue that the pitching staff warrants just as much attention. That may raise some eyebrows at first glance, as the Braves received strong contributions from a variety of hurlers in both the rotation and bullpen in 2018. As a team, the Braves finished with the seventh-best ERA in baseball, but they were 11th in FIP, 16th in xFIP, and 18th by measure of SIERA. More importantly, virtually all of the team’s key pitchers outperformed their peripherals, some by quite a margin.

To be sure, the Braves do not lack for depth or youthful upside. But the club does not have the established, top-level performers on the mound that it does in its lineup. If Foltynewicz is something of an analog for Ozzie Albies — both have now turned in highly productive, albeit somewhat flawed, seasons — there’s no equivalent for Freddie Freeman (top-end star) or Ronald Acuna (phenom who has shown his ability plays over an extended stretch at the highest level).

That’s not to say that the Atlanta organization simply must have those kinds of players, though that’s arguably what they ought to be seeking. Sean Newcomb and Kevin Gausman both have interesting arsenals, but neither has established himself as anything approaching a rotation anchor. (Gausman did have a nice run upon landing in Atlanta, but his peripherals and broader track record tell a different story.) The Julio Teheran roller-coaster is by now well-documented. Mike Soroka has fascinating near and long-term potential — if healthy — while there’s plenty of talent but still plenty of uncertainty surrounding Touki Toussaint, Luiz Gohara, Kyle Wright, Max Fried, Kolby Allard, and the variety of other promising hurlers who have already debuted, have already made it onto the 40-man roster, or are coming up behind that group. Simply put, the Braves can’t dole out MLB rotation opportunities to all of these arms, particularly given that the team has flipped the switch to contending. And the 40-man pressures will only build, both as near-term improvements are made and as additional talent presses toward the majors.

Adding a veteran piece to replace the outgoing Anibal Sanchez, or simply to re-sign him, feels a bit underwhelming. Rather, there’s a strong case to be made that this organization ought to put on a full-court press to get elite, established talent in the rotation, if not also the bullpen. The Braves could easily afford free agent Patrick Corbin, if they are willing to do a longer deal in order to grab his relative youth. He’s also a target for quite a few other clubs, of course. They might prefer a shorter commitment to Dallas Keuchel, J.A. Happ, or Charlie Morton, though it’s arguable that none of those hurlers has quite the upside the Braves ought to be seeking. That leaves the trade market for a big arm. The Braves should certainly also be heavily involved if the Indians get serious about dealing one of their three excellent starters — Corey Kluber, Carlos Carrasco, and Trevor Bauer — or if the Mets are willing to send Noah Syndergaard to a division rival. Those players will all cost major talent.

My favorite pet theory, though, involves a match with the Diamondbacks on Zack Greinke, who is still owed $95.5MM in salary (plus a $2MM assignment bonus) but will only be on the books for three seasons. Greinke comes with a seemingly appealing blend of veteran gravitas and ongoing excellence; it’d be a splurge, but a measured one. Arizona would surely hang on to some of the obligation or include other talent to help balance things out; regardless, the Braves shouldn’t need to pony up their best young talent unless significant other pieces would come with him. That said, it is notable that the D’Backs have other assets that would make quite a lot of sense on the Braves roster, perhaps including outfielder David Peralta, or relievers Archie Bradley and Brad Boxberger.

Atlanta’s relief core isn’t an altogether different scenario from the rotation. Young southpaw A.J. Minter is a stud and Arodys Vizcaino still misses plenty of bats (at least when he’s healthy enough to pitch). Dan Winkler, Shane Carle, Jonny Venters, and Jesse Biddle were all useful MLB relievers, while Chad Sobotka showed promise. Darren O’Day has always been effective, so he’s a strong bounceback candidate. Several of the leftover rotation pieces could certainly check down into relief work.

Again, there’s no strict need, but there is opportunity. With short-term payroll space available, adding relief pitching is a great potential way to boost the team’s outlook while steering clear of long-term entanglements. Some fans will clamor for the return of Craig Kimbrel, but he figures to take a larger and longer contract than will be comfortable for the Braves. Veteran David Robertson is still performing at a high level and might be a reasonable risk, while Jeurys Familia presents a younger target with plenty of high-leverage experience. Adding a lefty is arguably not a priority, but Zach Britton and Andrew Miller are intriguing players to take a risk on; the latter may be particularly interested in the possibility of playing near his Florida home. The Braves also have just the right kind of assets to entice the Mariners to part with Edwin Diaz, the jewel of the relief market. If his price proves too lofty, Seattle’s Alex Colome might still present a worthwhile target, as might Mychal Givens of the Orioles. There are loads of other possibilities among both righties and lefties.

Even if the Braves don’t make major additions in either area of the pitching staff, they’ll likely find some veteran depth pieces that fit. It’s a much greater necessity, though, to address some of the openings on the position-player side of the roster. A major element of the Braves’ success in 2018 was the fact that both Nick Markakis and Kurt Suzuki exceeded expectations. Those veterans are now gone — Suzuki, at least, has already firmly moved on by signing with the Nats, while Markakis is still a free agent — leaving opening and opportunity in their wake.

Replacing Markakis is perhaps the one true imperative facing Anthopoulos this winter. The outfield has two clear regular assets: Acuna, an incredible talent who just won the NL Rookie of the Year Award, and center fielder Ender Inciarte, who is at most an average hitter but delivers strong value in the field and on the bases. While a return for Markakis perhaps profiles as a backup option, his uninspiring second half and relatively advanced age makes a new addition seem likely.

There has been plenty of debate over Atlanta’s ability and willingness to make a real run at Bryce Harper. Needless to say, he’d come with plenty of risk, but also the potential to be another core asset. It’s frankly difficult to know how plausible that outcome really is, but it seems fair to assume generally that bigger-budget clubs will have a greater tolerance for the long-term risks than will the Braves.  Otherwise, the top two corner pieces on the open market are Andrew McCutchen and Michael Brantley, and it’s easy to imagine the Braves coming away with either. A.J. Pollock is a center fielder by trade, but that shouldn’t take him out of consideration entirely. There is a variety of cheaper, likely part-time players also available via free agency.

On the trade market, one-year rental targets include Nicholas Castellanos and Avisail Garcia, though both have their limitations and aren’t particularly cheap. It’s conceivable the club could line up some kind of contract swap arrangement, possibly involving Teheran and/or O’Day, with players such as Kole Calhoun, Wil Myers, and Dexter Fowler representing conceivable fits if the money is sorted in a favorable manner. There aren’t many intriguing, obviously available corner outfielders who come with affordable control rights. David Peralta and Kyle Schwarber could hold appeal, though it’s hardly imperative for their respective teams to move them. The Padres, Phillies, and Brewers all have multiple youthful outfielders who are likely available via trade, though it’s fair to wonder whether any is a sure enough commodity to be installed as a primary corner piece for the Braves.

If there’s a dream player that just might be available, it’s Mitch Haniger of the Mariners. He’ll turn 28 before entering his final pre-arb year, leaving four cheap seasons of prime years still to go. Haniger improved on his impressive first season in Seattle, slashing a robust .285/.366/.493 with 26 home runs in 683 plate appearances last year. The M’s, of course, are launching a roster tweaking offseason in which they won’t prioritize their ability to contend in 2019. With an eye on a quick rebound, the Seattle organization likely does not intend to move Haniger. But it’ll have to consider the possibility and will assuredly have its interest piqued by many of the Braves’ top prospects, many of whom could be ready to contribute by the time the Seattle club hopes to be gearing back up. There are loads of other interesting potential matches between these organizations, each of which are led by GMs with a flair for dramatic swaps. (As noted above, Diaz would look awfully nice anchoring the Braves pen.) And the Atlanta payroll flexibility could leave the club well-situated to absorb some bad contracts to help facilitate a move.

That’s just supposition, of course, but it’s the type of deal that Anthopoulos should and surely will explore in the outfield and other positions. Catcher, clearly, is another need, though it’s one that may well be filled by a less-than-splashy acquisition. With the sturdy Tyler Flowers still on hand, the Braves could seek a Suzuki replacement that will function in a timeshare. Of course, the prospect capital on hand also makes Atlanta a prime possible pursuer of Marlins star J.T. Realmuto, who staked his claim in 2018 as the top catcher in the sport. That’s the kind of major move that could firmly tilt the balance in the Braves’ favor, though indications are that the Marlins’ asking price is exceedingly painful at the moment.

Top free agent Yasmani Grandal could also be a target. Anthopoulos is plenty familiar with him from their mutual time with the Dodgers, and it’s possible there will be a chance to achieve value given Grandal’s notably tough postseason. After all, he has been an exceptional all-around regular season performer for some time now. Wilson Ramos is a possibility, though he’d probably fit better on an American League roster, while valued defender Martin Maldonado and the offensively proficient Robinson Chirinos are perhaps the best of the remaining open-market options.

The remainder of the position-player mix offers several conceivable avenues. One of the most interesting questions is to what extent the organization will at least consider making a move on the left side of the infield. We know, we know, Anthopoulos has repeatedly expressed confidence in Dansby Swanson and Johan Camargo. It seems obvious he’d be comfortable rolling with them again at short and third, respectively, though it remains tantalizing to consider the alternatives. Manny Machado is about as unlikely a target as Harper, but can’t be ruled out entirely. Josh Donaldson would be a great player to take a short-term risk on, bringing quite a lot of upside while keeping the seat warm for rising prospect Austin Riley. Even Mike Moustakas could be a part of an infield rotation. In any event, adding a significant player at the hot corner would likely mean bumping Swanson and Camargo into joint duties at short and as reserves elsewhere. That could make for a strong overall unit. It may be a low-likelihood outcome, but an upgrade on the left side seems at least a possibility, particularly if Swanson or Riley is included in some kind of significant trade.

Finally, position-player depth stands as a general goal — though the route to achieving it will depend upon what other moves are made. Utilityman Charlie Culberson is in line to return after a productive (albeit questionably sustainable) 2018 season. Beyond that, there are two openings for reserve/platoon pieces. There’s probably an argument that the club ought to move on from Rio Ruiz if he can’t hold down a MLB roster spot, given the ever-present demand for more 40-man space, though he remains optionable and could be stashed at Triple-A as a depth piece. At a minimum, though, he’ll end up competing with some non-roster invitees and other existing assets in camp.

At least one bench spot will surely go to a player with significant outfield experience. Even if they add a true regular at one corner outfield spot, the Braves could hunt for a reserve who can spell Inciarte at times against lefties, as that has been a particular area of struggle for him. Adam Duvall has the right profile as a complementary piece, as he’s a good defender with power who could also be a worthwhile late-inning pinch hitter and defensive substitute, but his disappointing 2018 season makes his projected salary seem steep. Acuna’s ability to play center means the Braves have plenty of flexibility in what type of player they end up landing; the skillset of the primary corner piece (as discussed above) will surely be a factor in driving the decision-making on the reserve option.

Clearly, there’s abundant opportunity here for Anthopoulos to sort through. What’s most exciting for the Braves organization is the fact that the possibilities extend both to the near and long-term. The core is not only capable of winning now, but is still fully emerging as talent continues to surge upward. Meanwhile, Atlanta has ample open 2019 payroll as well as long-term contract capacity, since its only lengthy commitments on the books (Freeman, Inciarte) look to be firmly in the black. It’s difficult to imagine a scenario where the organization fails to remain competitive for some time to come, though there’s still plenty of variability remaining in the season to come and beyond. With the Braves looking to move from the realm of overflowing promise to that of perennial achievement, this offseason seems sure to present some highly consequential decisions to Anthopoulos and company.

MLBTR Readers Predict Teams For McCutchen, Kikuchi, Donaldson, And More

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MLBTR’s free agent prediction contest closed on November 18th, and earlier this week we ran through our readers’ team predictions for each of the top ten free agents.  Now, let’s check out another batch of reader picks:

11.  Andrew McCutchen – Indians (13.6%), Braves (9.3%), Cubs (9.2%), Pirates (5.4%), Phillies (4.9%), Yankees (4.8%), Nationals (4.3%), Mets (4.3%), Cardinals (4.0%), White Sox (3.6%), Mariners (3.4%), Giants (3.2%), Rockies (3.2%), Diamondbacks (3.1%)

12.  Yusei Kikuchi – Padres (18.8%), Mariners (12.0%), Dodgers (11.5%), Angels (9.7%), Giants (4.8%), Yankees (4.5%), Red Sox (4.4%), Phillies (3.4%), Rangers (3.2%)

13.  Josh Donaldson – Cardinals (50.1%), Braves (6.1%), Indians (6.0%), Mets (4.5%), Phillies (4.0%), Angels (3.8%), White Sox (2.8%)

14.  Charlie Morton – Astros (35.6%), Phillies (13.0%), Nationals (5.9%), Brewers (5.1%), Braves (3.4%), Angels (3.2%), Athletics (2.8%)

15.  Wilson Ramos – Nationals (16.8%), Astros (13.4%), Braves (10.1%), Dodgers (10.1%), Mets (7.3%), Phillies (6.3%), Angels (6.0%), Brewers (3.6%), Mariners (3.6%), Rays (3.0%), Rockies (2.7%), Athletics (2.5%)

16.  Marwin Gonzalez – Astros (10.3%), Twins (7.0%), Cubs (6.7%), Yankees (5.7%), Mets (5.5%), Giants (5.1%), Rockies (4.7%), Brewers (4.7%), Angels (4.4%), Indians (4.2%), Braves (4.0%), Phillies (4.0%), Dodgers (3.5%), Nationals (3.4%), Athletics (3.2%), Cardinals (3.2%), White Sox (3.0%), Blue Jays (3.0%)

17.  Jeurys Familia – Athletics (12.4%), Mets (9.5%), Twins (6.9%), Cubs (6.7%), Cardinals (6.2%), Red Sox (5.6%), Braves (5.5%), Dodgers (4.5%), Phillies (4.4%), Angels (4.1%), Indians (4.1%), Nationals (3.8%), Brewers (3.8%)

18.  Zach Britton – Astros (11.1%), Red Sox (11.0%), Yankees (10.9%), Cubs (9.8%), Cardinals (8.0%), Dodgers (7.0%), Phillies (6.4%), Braves (5.8%), Mets (5.2%), Nationals (3.6%), Indians (3.4%)

19.  David Robertson – Yankees (28.8%), Mets (11.7%), Red Sox (9.0%), Cubs (4.7%), Braves (4.5%), Cardinals (4.5%), Indians (3.5%), Dodgers (3.4%), Phillies (3.4%), Nationals (3.2%)

20.  Adam Ottavino – Yankees (11.4%), Rockies (11.2%), Cardinals (7.9%), Dodgers (7.5%), Mets (7.1%), Red Sox (7.0%), Cubs (6.3%), Braves (4.9%), Nationals (3.4%), Phillies (3.4%), Indians (3.2%), Brewers (3.2%)

Projecting Payrolls: New York Yankees

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As we kick off the fifth installment of this series, here are links to the previous team payroll projections:

Philadelphia Phillies
Los Angeles Dodgers
Los Angeles Angels
Atlanta Braves

If you have questions about financial information made available to the public and the assumptions used in this series, please refer to the Phillies piece linked above.

Today, we’re moving north to visit with the once and future biggest spenders in the game: the New York Yankees.

Team Leadership

The ownership portion of this section likely needs very little explanation, but a bit of history is actually instructive. Going back to the end of World War II, The Yankees were owned by Lee MacPhail, Dan Topping, and Del Webb from 1945-64. The team failed to reach the World Series in 1945 and 1946, then, improbably, played in the Fall Classic in all but three of the remaining years of their ownership run. CBS then purchased a controlling stake in the team in 1964 and the Yankees failed to make the playoffs during all 10 campaigns of corporate ownership.

Then, the Boss arrived. George Steinbrenner led a group of investors in purchasing the Yankees in 1973 for an unfathomable $10 million. While the team has had minority owners since then, the Steinbrenner family has held the reins with George relinquishing control to his son Hal and his three siblings in 2008, two years prior to George’s passing.

The baseball operations department is headed by senior vice president and chairman Brian Cashman. Cashman took control of the baseball operations department in early 1998 and promptly saw the team make the World Series five times in his first six years at the helm, winning three championships in the process. Perhaps somewhat surprisingly, Cashman’s job security has rarely been at issue despite the fact that the Bronx Bombers have won just one World Series title since 2000 (2009).

Historical Payrolls

Before hitting the numbers, please recall that we use data from Cot’s Baseball Contracts, we’ll use average annual value (“AAV”) on historical deals but actual cash for 2019 and beyond, and deferrals will be reflected where appropriate. And, of course, the value of examining historical payrolls is twofold: they show us either what type of payroll a team’s market can support or how significantly a given ownership group is willing to spend. In the most useful cases, they show us both. We’ll focus on a 15-year span for the Yankees, covering 2005-18 for historical data as a means to understanding year 15: 2019. We’ll also use Opening Day payrolls as those better approximate expected spending by ownership.

Fasten your seatbelts, the payroll figures are about to get gaudy.

The Yankees surprisingly began the 2000s with a payroll of just $107.6 million and that figure held true in 2001 at $112.3 million. Then the spending boon started in 2002 as the team increased payroll by $13.6 million, $26.8 million, $31.4 million, and $24.1 million in four consecutive offseasons causing payroll to soar to the 2005 starting point above of $208.3 million. Incredibly, payroll has been largely stagnant since 2005 with only modest dips and climbs over the next 12 years before a notable drop in 2018 that reset the Yankees luxury taxpayer status (more on that below).

The Yankees have been a model franchise when it comes to finding ways to use their financial might to improve their club on talent beyond the Major League roster. The best recent example of this spending acumen came in the international amateur market in 2014 when the Yankees zoomed past their bonus threshold to sign one third of the top-30 prospects that year. It is overwhelmingly likely that this bonanza spurred Major League Baseball to revisit and revise the international spending limitations in the next iteration of the Collective Bargaining Agreement. To read more about this spending spree, check out this piece on Baseball Prospectus from Dustin Palmateer. Needless to say, if there is a way to use the club’s financial might to create a competitive advantage, the Yankees have done and will do it, even if significant taxes are at issue.

Speaking of taxes: since Major League Baseball instituted its first version of a luxury tax in 1997 through 2017, teams paid approximately $548,155,916 in taxes. The Yankees paid $329,519,651 of that amount, accounting for 60.1 percent of total luxury tax payments. Truly astonishing. Keep in mind that these tax payments do not include the taxes paid for overspending in the international marketplace. Simply put, the Yankees will spend and spend big, not that this is news to anyone.

Future Liabilities

The Yankees entered the offseason with a truly bizarre contract table: they had no guaranteed contracts with one year remaining, instead holding multi-year guarantees only. The recent re-signings of CC Sabathia and Brett Gardner added a pair of contract year players to the payroll table. Here are the guaranteed future dollars with club options highlighted in peach and player options — in this case, opt-out clauses — are highlighted in light blue.

We’ll start with Stanton. It was an imperfect debut season for the former National League Most Valuable Player, but on the whole, Stanton delivered what was expected: a whole bunch of home runs. His contract comes with two deeply intriguing facets. First, the Yankees enjoy a significant luxury tax benefit as a result of the inexpensive early year guarantees on his deal when with the Marlins and financial help Miami will send to New York in the mid-2020s. The Yankees should seek out players for whom they can pay exorbitant amounts while enjoying relatively depressed luxury tax figures. Stanton’s $22.7 million annual luxury tax hit is on par with the likes of Justin Upton, not befitting an in-prime superstar. Second, the 2026-28 commitments are comparatively very small given the influx of money from the Marlins. Assuming that the Yankees exercise their option on him in 2028, they’ll be responsible for just $49 million over those three years. In the meantime, obviously, they’ll pay an MVP level rate.

The other commitments are for the team’s three most recent marquee free agent acquisitions: Tanaka, Ellsbury, and Chapman. The returns for those three have been all over the place. Despite some control issues this past season, Chapman has largely excelled since returning starting with the 2017 season. At the other end of the spectrum, Ellsbury enjoyed a good first year with the Yankees in 2014, but he provided below-average production in 2015-17 before missing all of 2018 with a hip injury. Tanaka has occupied the space between stars and scrubs. He looked like an ace in 2014 and again in 2016. In the middle, he struggled with an elbow injury and since 2016, he has been a slightly above-average starter but not the ace that the Yankees hoped he would become. His value isn’t poor by any stretch, but he’s being paid at almost exactly his market rate.

As for the arbitration projections, the Yankees figure to spend a good amount on controllable talent with less than six years of service time. The Yankees don’t appear to have any obvious non-tender candidates. Here are their arbitration projections (salary projections by MLBTR and Matt Swartz):

It’s likely Gray finds himself wearing a new uniform when 2019 kicks off, but the front office will nevertheless take pleasure in seeing both Paxton and Severino occupying only arbitration salary slots instead of monster eight-figure annual salaries.

There is one name that comes with oodles of intrigue: injured shortstop Didi Gregorius. Gregorius underwent Tommy John surgery on October 17, an operation that will keep him on the shelf for months. With a $12.4 million arbitration payday on the way, could the Yankees consider non-tendering him, especially if he won’t be available until late in the 2019 season?

I don’t see it. His middle infield partner, Gleyber Torres, underwent Tommy John surgery on June 19, 2017, but he was ready for Spring Training in 2018, participating fully and playing the entire 2018 regular season starting on Opening Day. Torres needed only about eight months to return to full participation, though it’s possible that he would have been ready even earlier. If Gregorius is ready to return in mid-June, he’s certainly worth his arbitration estimate. It’s also possible that the Yankees come to a multi-year agreement with him in lieu of playing out his final year in advance of free agency.

What Does Team Leadership Have to Say?

When asked about how the team will fill out its rotation holes early in November, Cashman unsurprisingly explained that the Yankees will take whatever path necessary to build a winning rotation. “I think we’ll just gravitate to anything that will make sense,” Cashman said. “It could be a combination; something could make sense via trade in the same category as free agency. I’m interested in adding more than one pitcher. I need to, I think, add multiple. If I can do so, we’ll see.” While commenting on his preference to remain south of the luxury tax line, Cashman admitted what we all already know: “…because of the market we’re in and the ownership we have I know that we’re capable of and it’s a decision they ultimately will make when they’re forced to make it…” Quite simply, Cashman has openly admitted that big spending is a viable option, even if he publicly states a desire to avoid doing so.

Are the Yankees a Player for Bryce Harper or Manny Machado?

Yes.

We could spend a long time explaining why this is viable for the Yankees, but for a team with revenue estimated at $619 million as of 2017, it probably doesn’t require much in-depth examination to see how this works financially.

The more interesting question with the Yankees involves the fit of these two young stars. Incredibly, the Yankees’ top seven players by WAR in 2018 were four outfielders (Aaron Judge, Aaron Hicks, Stanton, and Gardner), two shortstops (Gregorius and Torres), and a third baseman (Miguel Andujar). Judge, Hicks, Gregorius, and Stanton all produced at star-level rates.

That said, it’s not terribly difficult to see the fit for Machado. Andujar’s rookie year defensive metrics were putrid. He could justifiably be moved to first base and/or designated hitter, or traded, opening up third base for Machado. Shortstop will be open to begin the season with Gregorius recovering from surgery and Torres also comes with Tommy John in his background, so Machado would be a safer bet to hold the spot defensively into the future, especially with Gregorius an impending free agent. Machado could easily cover shortstop or third base with minimal roster revisions.

But Harper? The Yankees would need to kick Harper to center field, enforcing a massive defensive downgrade for their outfield, move one of Judge, Stanton, or Harper to designated hitter, or trade one of their current corner outfield stars to clear a spot for Harper. Or they could do something even more surprising like moving one of Judge, Stanton, or Harper to first base, a risky defensive move.

I’m sure that Cashman would find a way for this to work. But the Harper fit is clearly tougher.

What Will the 2019 Payroll Be?

The standard disclaimer: ownership and management knows the actual budget whereas we’re focusing on historical data and other relevant factors to project future spending in the immediate and more distant years to come.

The Yankees’ payroll is going to go up. The only question is whether they sneak over the $200 million threshold or if they blow past it.

Assuming that Gray is gone but that Gregorius stays at his arbitration salary, the Yankees are staring at a cash payroll of $152.2 million with a luxury tax payroll of $164.9 million. There’s absolutely no chance that they’ll end the offseason with payroll figures that low.

They’re going to be major players for the elite free agents with cash, prestige, and a young core of premium talent to offer any players looking for a new fortune and a ring or two to go along with it…and that’s before we factor in that the Red Sox have won four World Series titles over the last 15 years while the Yankees have just one flag. Given their need for pitching, expect to hear plenty of Patrick Corbin, Dallas Keuchel, and J.A. Happ rumors, even after the acquisition of Paxton. And expect to hear Harper and Machado linked to the Bombers until the day they sign, be it in New York or elsewhere.

I could see them marrying Cashman’s desire to stay below the luxury tax line with a couple of impact additions, setting payroll above the $206 million tax line but below the maximum penalty threshold of $246 million. As a refresher, the Yankees will incur a 20 percent tax on amounts spent over $206 million and a 12 percent surtax on amounts over $226 million. Once spending reaches $246 million, the tax rate is 42.5 percent and the club would see its top draft selection lowered ten spots. Those penalties are tough to swallow.

I expect that the club will begin the 2019 season either in the first tax tier or narrowly into the second tax tier in order to maintain some flexibility for in-season acquisitions and to stay safely below that $246 million threshold. This will bring spending back in line with where it has been for much of the past decade and a half.

Projected 2019 Payroll: $220 million cash (approximately $232.7 million for luxury tax purposes)

Projected 2019 Payroll Space: $67.8 million

Projecting Payrolls: Atlanta Braves

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As we kick off the fourth installment of this series, here are links to the previous team payroll projections:

Philadelphia Phillies
Los Angeles Dodgers
Los Angeles Angels

If you have questions about financial information made available to the public and the assumptions used in this series, please refer to the Phillies piece linked above.

Today, we’re heading back to the National League East to examine the payroll situation of a burgeoning juggernaut: the Atlanta Braves.

Team Leadership

While most baseball franchises are now owned by families or groups of them, the Braves have been owned by corporate entities since 1996. Time Warner purchased the club, along with TBS, from Ted Turner and Turner Broadcasting in 1996, then sold the club in 2007 to Liberty Media Corp., the current owner, as part of a convoluted transaction involving billions of dollars worth of assets. The human face of ownership is that of chairman Terry McGuirk, a lifer at Time Warner.

The baseball operations department is headed by executive vice president and chairman Alex Anthopoulos. After serving as general manager of the Blue Jays from 2010-15, Anthopoulos turned down a five-year extension from the club to remain in his current role, instead spending two years as a vice president with the Dodgers. The arrival of new president Mark Shapiro reportedly played a significant role in his decision to leave Toronto. In the end, Anthopoulos found his way to a superior situation, taking over the Braves front office just over one year ago and inheriting a loaded farm system outside of the rigors of the wildly competitive American League East.

Historical Payrolls

Before hitting the numbers, please recall that we use data from Cot’s Baseball Contracts, we’ll use average annual value (“AAV”) on historical deals but actual cash for 2019 and beyond, and deferrals will be reflected where appropriate. And, of course, the value of examining historical payrolls is twofold: they show us either what type of payroll a team’s market can support or how significantly a given ownership group is willing to spend. In the most useful cases, they show us both. We’ll focus on a 15-year span for the Braves, covering 2005-18 for historical data as a means to understanding year 15: 2019. We’ll also use Opening Day payrolls as those better approximate expected spending by ownership.

Using this time frame for the Braves captures the end of Turner’s ownership period, a spending downfall from the peak of $106.2 million in 2003. Braves spending was remarkably consistent from 2005-16 before a notable jump in 2017. Here is what the Braves have spent in the prior 14 seasons:

After spending like a top-10 club for much of Turner’s ownership, the Braves have spent like a mid-market team throughout Liberty’s ownership, never ranking higher than 13th or lower than 22nd in end-of-season payroll.

Atlanta’s spending hasn’t been limited to Major League talent by any stretch. In fact, their penchant for swimming in the international amateur market got them into deep trouble and helped propel Anthopoulos to the general manager’s job. The Braves infamously split the signing bonuses paid to top amateurs between the the elite prospects and lesser “foreign professionals” for whom bonuses were exempt from international signing restrictions. This enabled the team to funnel additional money to top amateurs without being forced to incur stringent tax liabilities. Unfortunately for the club, when their deceit was uncovered by Major League Baseball, it resulted in the exodus of many top amateurs, including elite target Kevin Maitan, and much of the club’s leadership, including president John Hart and general manager John Coppolella. The Braves will be significantly restricted from signing expensive international amateurs in the next two summers, so they’ll paradoxically have more cash available for spending on Major League talent should they choose to allocate the unspent funds in that way.

Future Liabilities

The Braves have truly remarkably little on the books in terms of long-term commitments. Organizational stalwart Freddie Freeman has three years remaining on his deal and defensive wizard Ender Inciarte has three years plus an inexpensive club option for a fourth. That’s it for guaranteed money beyond 2019…at least, that’s it for current players. Here is a look at their future guarantees with the peach highlight indicative of 2020 club options for Julio Teheran and Tyler Flowers.  Note that the numbers shown on here are cash payments by year, not the salary plus the prorated amount of any bonus. The AAV column captures the player’s luxury tax number.

The top portion of this chart is relatively straightforward: the Braves have long-term commitments for Freeman and Inciarte and one-year commitments for Teheran, O’Day, and Flowers, unless they want more for Teheran or Flowers via the options.

The bottom portion? The bottom portion carries the intrigue. We’ll start with O’Day, the simpler case study. When the Braves acquired starter Kevin Gausman at the trade deadline, they also agreed to absorb the remaining contract for injured reliever Darren O’Day as a means of limiting the talent package they sent to Baltimore (this should make Braves fans happy and Orioles fans sad). O’Day’s contract called for $1 million each year from 2016-19 to be deferred, payable in equal installments from 2020-23. Perhaps as a sign of how desperate the Orioles were to move payroll, the Braves agreed to absorb the deferred obligations owed to O’Day, even those incurred from money deferred in earlier seasons. As a result, the Braves owe O’Day $1 million for each year of O’Day’s contract, including the time he spent in Baltimore in 2016, 2017, and 2018.

Sutter is an entirely different matter. The Braves signed Sutter to a six-year, $9.1 million deal prior to the 1985 season when Sutter was coming off of a top-10 finish in Most Valuable Player voting having just completed a return to star status after a couple of rocky seasons. With Atlanta, Sutter produced a whopping 0 WAR while sputtering out after three seasons. However, that’s not the source of intrigue. That comes from the extremely unique structure of Sutter’s contract which called for minimal annual payments and massive deferrals, paying Sutter $1.12 million per year for 30 years after he retired. Mercifully for the Braves, Sutter will collect his final annual payment in 2021. Unmercifully for the Braves, Sutter collects the entire $9.1 million principal that year as well. His $10.22 million payment in 2021 may very well rival Mike Foltynewicz for the second largest payout on the team. If the Braves already have Sutter’s balloon payment tucked away and ready for payment in 2021, this is merely a goofy historical anecdote. If, however, the Braves need to come up with the balloon payment, it may have a meaningful impact on the 2021 roster and the team’s willingness to commit future dollars this offseason.

With Sutter out of the way, let’s move to the arbitration projections. Outfielder Adam Duvall and reliever Sam Freeman both appear to be non-tender candidates, but for now, both are included below (salary projections by MLBTR and Matt Swartz):

Gausman, Foltynewicz, and Vizcaino all figure to occupy significant chunks of payroll, but all three pitchers are important to the 2019 Braves, so they provide nice value to the contending team.

What Does Team Leadership Have to Say?

Anthopoulos was surprisingly forthcoming when discussing Atlanta’s spending plans, telling reporters, “We will have a good amount of money to work with.” This likely doesn’t surprise anyone. The Braves have been a picture of consistency with their spending over the past decade, so it would be stunning to see payroll plummet or explode this offseason.

However, the color that Anthopoulos added to his basic comment provides significantly greater insight: “We’re not going to just walk in the store and buy because we have money in our pockets. If we don’t find the right deal with something we like, there’s still other opportunities to shop. There could be opportunities next season. If you start signing guys to big, long deals, if you feel good about the deal, you do it now. I wouldn’t force a deal right now that would limit you in years from now. I don’t think with our club, with what we have, that the value is going to be there in the free-agent market. It doesn’t mean it won’t. We’ll certainly explore it. But if I could sit here in the middle of October, I’d say it’s more likely we go the trade route. It’s not ideal to give up young assets, but it’s also not ideal to do a deal you don’t believe in — that may look good for a year or two, and then in years three, four and five, it does not.”

Are the Braves a Player for Bryce Harper or Manny Machado?

It’s entirely possible that some of the above was merely posturing on the part of Anthopoulos as the Braves prepare a foray into the depths of free agency. But given the club’s hesitance to spend at top-of-the-market rates in the past, I would expect that Atlanta’s free agent targets won’t reach the Harper/Machado tier.

However, that said, Atlanta’s salary flexibility and ludicrous hoard of prospect arms ready to fill the Major League rotation for the next half decade or longer mean that the Braves can afford to take a massive swing and miss without crippling the franchise for years. So few teams have such a luxury. As a result, they should be considered a sneaky contender to spend big dollars, especially for Harper as the Braves would likely love to put him in the outfield with Ronald Acuna Jr. and Inciarte. Machado makes a bit less sense given the presence of Ozzie Albies, Dansby Swanson, and well-rounded top prospect Austin Riley, but the money is there. There’s just a chasm of disconnect between the figures on paper and the words of the general manager.

What Will the 2019 Payroll Be?

The standard disclaimer: ownership and management knows the actual budget whereas we’re focusing on historical data and other relevant factors to project future spending in the immediate and more distant years to come.

The Braves’ payroll has been quite consistent over the years, and given their historical trajectory and current revenue streams, I’d expect for them to at least comfortably plod along with methodical increases. That might mean something like $130 million in 2019.

However, last year’s club blew open the competitive window. As a result, I foresee a slightly larger increase this year than expected. As a result, they’re likely going to make a significant expensive addition or two. A reunion with Craig Kimbrel makes an awful lot of sense.

Projected 2019 Payroll: $135 million

Projected 2019 Payroll Space: $50.6 million

Projecting Payrolls: Los Angeles Angels

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In the opening piece in this series, we looked at the Philadelphia Phillies, a team almost certain to be a major player in this winter’s free agent market. Next we traveled to southern California to see if the deep pockets of the Los Angeles Dodgers would make them a major player this winter. Once again, in addition to being a fun look at a key market participant, the Phillies piece also sets forth some key assumptions to be used in this series regarding financial information available to the public.

Today, we head 30 miles southeast to Anaheim to check in on an Angels team still seeking to win its first playoff game during Mike Trout’s historic career.

Team Leadership

Unlike the rival Dodgers, Angels ownership has been a pillar of stability since advertising magnate Arte Moreno purchased the club in April 2003. Moreno is perhaps best known for embarking on an aggressive marketing strategy after taking control, rebranding a club that had been known as the California or Anaheim Angels since 1965 as the Los Angeles Angels of Anaheim. After carrying that name for a decade and surviving lawsuits from the City of Anaheim regarding the rebranding, the club finally reverted to its original name in 2016: the Los Angeles Angels.

It’s difficult to argue with the results. While Moreno purchased the team for $180 million in 2003, Forbes projected that team value had increased tenfold in the 15 years that followed, reaching $1.8 billion as of April 2018.

The baseball side of the operation is headed by a model of persistence, general manager Billy Eppler. While working as assistant general manager under Brian Cashman with the Yankees, Eppler interviewed for the Angels general manager job in 2011, losing out to Jerry Dipoto. However, when Dipoto resigned during the 2015 season due to a rift with manager Mike Scioscia, Eppler leaped at the opportunity to return home to Southern California and secured the Angels job.

Historical Payrolls

Before hitting the numbers, please recall that we use data from Cot’s Baseball Contracts, we’ll use average annual value (“AAV”) on historical deals but actual cash for 2019 and beyond, and deferrals will be reflected where appropriate. And, of course, the value of examining historical payrolls is twofold: they show us either what type of payroll a team’s market can support or how significantly a given ownership group is willing to spend. In the most useful cases, they show us both. We’ll focus on a 15-year span for the Angels, covering 2005-18 for historical data as a means to understanding year 15: 2019. We’ll also use Opening Day payrolls as those better approximate expected spending by ownership.

Using this time frame works well for the Angels as it captures nearly all of Moreno’s run of ownership. After years of spending like a mid-market club, Moreno boosted the Angels to top-10 spending during his first full season in 2004 and they have remained there ever since. Here is what the Angels have spent in the prior 14 seasons:

Angels spending spiked dramatically under Moreno’s first decade of ownership, more than doubling the spending levels employed by the Walt Disney Company during their brief period of ownership prior to Moreno. However, after reaching $151.4 million in 2012, the spending rate has largely plateaued with remarkable consistency over the last three seasons.

The Angels have largely eschewed massive commitments in the amateur sphere. This is likely due in large part to the club being burned on their $8 million deal with Cuban infielder Roberto Baldoquin. Signed in January 2015, the 24-year-old Baldoquin has a putrid wRC+ of 72 for his minor league career. He is yet to reach Triple-A, let alone the Major Leagues. Yet because of the size of the signing bonus that the team gave Baldoquin, the Angels found themselves in the international amateur penalty box for the next two signing cycles, severely limiting their ability to swim with the big fish internationally. Accordingly, their Major League spending is an excellent indicator of total spending.

Future Liabilities

Unlike some other big-market clubs that have handed out significant dollars while retaining salary sheet flexibility, the Angels are largely wedded to their big contracts with five eight-figure AAV contracts extending through at least 2020.

Here is a look at their future guarantees with the peach highlight indicative of a club option for Kole Calhoun.  As mentioned above, note that the numbers shown on here are cash payments by year, not the salary plus the prorated amount of any bonus. The AAV column captures the player’s luxury tax number.

There are some seriously significant numbers here. While it should start with the all-world Trout, we instead begin with the final three years on what quickly became an albatross deal for Albert Pujols. The Angels now owe Pujols “just” $87 million for his final three seasons, pushing them closer to a time in which his contract won’t all-but-guarantee him significant playing time. Perhaps the need to use Shohei Ohtani as a designated hitter in his return from elbow surgery will push Pujols toward more time on the bench, where he should be at this stage in his career. Unfortunately, the payments to Pujols won’t stop just because he stops playing: Pujols will receive a 10-year, $10 million personal services contract following the completion of his career. I presume that he will retire following his 2021 guarantee.

The other two numbers that jump off the page are the commitments to outfielders Trout and Justin Upton. Both players provided the Angels with good production in 2018 — OK, Trout was a hair better than “good” — so it comes as no surprise that they top the payroll spreadsheet. Both talents figure to occupy core lineup locations throughout their deals.

A pair of infielders follow as Andrelton Simmons and his elite glove come with two more years of below-market control while Zack Cozart will look to rebound after a rough debut season in Anaheim. Neither guarantee is terribly significant, and if the Angels need to move money at some point, I expect that Cozart would be a good starting point.

Finally, we reach Calhoun. The right fielder followed three consecutive above-average seasons from 2014-16 with a solid year in 2017 before slipping all the way to replacement level in 2018. If the Angels find themselves wanting to move salary to make another acquisition, Calhoun would seem to be a logical candidate to find a new home. Ken Rosenthal hears the same.

Moving to arbitration, the Angels feature only modest and even genuinely low projected salaries. Factor in that Matt Shoemaker may be non-tendered, and the Angels figure to allot a comparatively small amount of their total payroll to arbitration-eligible talent. Here are the arbitration statuses (salary projections by MLBTR and Matt Swartz):

In addition to Shoemaker, JC Ramirez is a possible non-tender candidate. It’s also possible the pitchers agree to contracts south of what arbitration would be expected to provide.

What Does Team Leadership Have to Say?

Simply put, neither Moreno nor Eppler has had much to say recently about spending, so we find ourselves looking to prior offseasons for guidance. Last winter, Moreno commented that the Angels lost money in 2016 and 2017, yet it didn’t stop him from authorizing a similar payroll in 2018. He hasn’t imposed any austerity measures during his ownership tenure, so that jives well with what he said last year.

Are the Angels a Player for Bryce Harper or Manny Machado?

As fun as it would be to see Harper and Trout share the outfield or to see Machado and Simmons vacuum up every ball hit to the left side of the infield, it’s tough to see a fit for either young star here. A look through the Angels roster shows some strong position player talent and a handful of good, youngish starting pitchers. Unfortunately, the best starting pitching in question — Andrew Heaney, Tyler Skaggs, and Shohei Ohtani — all come with significant current and/or recent injuries. Los Angeles does have young righty Jaime Barria around, but he looks more like a good back-end option than an impact starter for a contender. Expect to see the Angels focus their spending efforts on an arm or two.

What Will the 2019 Payroll Be?

The standard disclaimer: ownership and management knows the actual budget whereas we’re focusing on historical data and other relevant factors to project future spending in the immediate and more distant years to come.

The Angels’ payroll has been remarkably consistent over the years. Despite Moreno’s spending increases during his ownership tenure, they have all been of the gradual variety with the sole considerable jump that was unaccompanied by a corresponding dip in the prior year occurring in 2011 when spending spiked $20.7 million in one year as a result of the Vernon Wells acquisition.

With all of that said…

Moreno is the one current owner in Major League Baseball who appears likely to go the way of Mike Ilitch, incurring significant losses to keep his team in contention each year as he ages. Moreno purchased the club shortly after their sole World Series title in 2002, so he is yet to hoist a trophy as owner. To be clear: this is baseless speculation. As far as I can tell, no writers or front office folks have leaked information indicating that Moreno plans to break the bank this winter. But would I be stunned if Moreno authorized a $200 million payroll so he could pair Harper and Trout together for the next two years before allowing both to leave via free agency for Trout and an opt-out clause for Harper? Absolutely not. And in that scenario, the Angels would jettison Calhoun, minimizing the payroll impact of Harper’s addition.

It’s still more likely that the Angels focus on pitching acquisitions this winter — Dallas Keuchel and Patrick Corbin make sense as targets — but if payroll hits $200 million, they would have room for both Harper/Machado and the needed pitching. For now, let’s assume they non-tender Shoemaker and Ramirez but hold onto Calhoun as a bounceback candidate.

Projected 2019 Payroll: $175 million

Projected 2019 Payroll Space: $36.6 million

Offseason Outlook: St. Louis Cardinals

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MLBTR is publishing Offseason Outlooks for all 30 teams.  Click here to read the other entries in this series.

The Cardinals had a thrilling season on the whole, but a tumultuous roller coaster ride bookended by significant winning and losing streaks ultimately ended on a low note as they missed the playoffs for the third consecutive season. That’s a lengthy drought by their standards, as fans hadn’t yet been forced to endure such a streak during the new millenium.

On the one hand, the club has a formidable crew under team control for 2019, including several franchise mainstays, and can expect a reasonable degree of improvement from its wealth of young talent. On the other hand, its veteran core includes eight players over 30 years of age (six are at least 32), and they could be facing some decline in production and/or injury risk from many members of that group. The club’s front office will surely be taking a slew of complex factors into account as they try to put together a contender for 2019.

Guaranteed Contracts

Arbitration-Eligible Players (projections via MLBTR contributor Matt Swartz)

Free Agents

[St. Louis Cardinals Depth Chart |St. Louis Cardinals Payroll Outlook]

Even after a relatively quiet trade deadline, the Cardinals surged to the forefront of the NL Central race with a torrid August that saw them go 22-6. But a mediocre 12-15 September cost them a chance to compete in the 2018 playoffs, proving that even the surprising midseason replacement of longtime manager Mike Matheny wasn’t enough to flip the club’s fate after a middling 47-46 start to the season. After three consecutive years of seeing their season end with game number 162, the perennially successful Cardinals organization could be facing a sense of urgency to right the ship and get back to October in order to satiate the fan base.

It’s difficult to tell where that process begins. While the team is loaded with fan favorites and high-caliber players in every area of the roster, they’re also staring down one or more significant question marks in their rotation, bullpen, outfield and infield. With their current construction, they’ve got an obviously good team. Unfortunately that’s not likely to cut the mustard in a division where they’re likely to face stiff competition from the Cubs and the now-soaring Brewers, both of whom have younger cores.

One of the simplest avenues would be to add several wins in one fell swoop, by paying for one of the market’s elite talents. The Cardinals have been connected to Bryce Harper this offseason, and have been speculated upon as a potential landing spot for Manny Machado as well. Either would fit easily into the club’s puzzle, and it wouldn’t be a surprise to see them spend big on a marquee free agent after being putting in strong bids for Jason Heyward and David Price in offseasons past. It’s also worth pointing out that they worked out a deal to acquire Giancarlo Stanton last season before the slugger used his no-trade clause to veto the move to St. Louis. While any realistic offer to add one of the market’s two biggest prizes would surely dwarf any of the three aforementioned contract sums, the Redbirds’ involvement serves as an indicator that adding a superstar bat lies within the realm of possibility.

But the market for both Harper and Machado comes with strong competition, so we can easily assume that the Cards are exploring several contingency plans. For example, the club will likely be motivated to make an upgrade at the hot corner if Machado lands elsewhere. Carpenter is aging and probably profiles best at first base at this point in his career, and Josh Donaldson might be a fitting target after previous reports of interest from St. Louis. Even Mike Moustakas could serve as an interesting add. It’s also worth noting that the Yankees could explore the market for Rookie of the Year runner-up Miguel Andujar in order to address their rotation, though it’s questionable whether the Cards would have any interest in giving up the type of young arm necessary to get a deal done. (Last night’s trade of James Paxton to the Yankees could also shift New York’s focus from the trade market to free agency for their remaining rotation needs.)

Turning an eye to the outfield, St. Louis may have in-house alternatives to signing Harper, should they lose out in that auction. Rookie Harrison Bader certainly earned a foothold on the center field job, and Ozuna is a lock to hold down left field. While Harper’s presence in right would make for a formidable outfield alignment, Fowler probably can’t be counted out as dead weight after a single horrendous season. Beyond him, the club has former top prospect Tyler O’Neill champing at the bit to follow up on a promising debut.

Absent from that list of in-house options is slugger Jose Martinez, who had an excellent offensive showing but proved to be an outright defensive liability. With that in mind, it seems unlikely he’ll be a part of their outfield plans come springtime (though the possibility shouldn’t be entirely dismissed, either), and his performance at first base even begs questions about whether his glove can be relied upon at all. Overall, the returns on playing him were positive; he yielded an above-average fWAR figure thanks to his excellent contact and on-base skills coupled with above-average power. But if the Cardinals wanted to get creative, they could look to explore shopping the slugger to American League team that might value him a bit more highly thanks to the ability to protect him from being entirely exposed defensively. There’d certainly be a number of suitors.

The bullpen is perhaps the Cardinals’ most glaring area of concern. A number of statistical shortcomings (including the second-highest walk rate of any ’pen in the game) led to a -4.54 WPA figure that would have stood as the worst in all of baseball save for the disastrous showing by a largely inexperienced Marlins relief corps. Norris, who held down the closer role for most of the season and was their bullpen’s most consistent fixture, is set to depart as a free agent. If they don’t re-sign him, they’ll probably find it necessary to find at least one viable alternative on the free agent market.

Make no mistake, that doesn’t necessarily mean they’ll be desperate to find anyone with closer experience. President of baseball ops John Mozeliak has said the Cardinals believe flamethrowing righty Jordan Hicks could succeed in that role (though as always that could simply be a negotiating technique), but that doesn’t mean he’ll actually have the job on opening day. The market is littered with former closers (e.g. Craig Kimbrel, Cody Allen, Kelvin Herrera), but it’s not difficult to imagine them instead rolling with Hicks and adding an upside lefty like Andrew Miller or Zach Britton. Speculation on specific names aside, it seems inevitable that the bullpen is an area to which they’ll allocate at least some money.

It’s worth noting that St. Louis will almost inevitably see some positive regression in relief performance, too. It’s more likely that Brett Cecil will rebound somewhat than that he’ll endure another career-low performance. Likewise, it’s improbable that the usually-durable Luke Gregerson will spend such an excessive amount of time on the DL. They won’t have Greg Holland walking nearly eight batters per nine innings across half a season’s worth of work, while Sam Tuivailala and Tyler Lyons represent other possible instances of addition by subtraction. Meanwhile John Brebbia, Dominic Leone and Dakota Hudson all had encouraging showings. In other words, while the Cardinals have some work to do in order to cover high-leverage innings, their situation isn’t quite as eyebrow-raising as a team like the Indians, for example.

Martinez, Wacha, Mikolas and rookie sensation Jack Flaherty seem like good bets to return to the rotation for 2019, while Alex Reyes, Luke Weaver and Adam Wainwright all in the mix for starts as well depending on health and performance. There’s room for improvement in their rotation, but it’s also not a bad cast overall; certainly other contenders are facing more daunting rotation questions. The situation gets murkier beyond 2019, though, as the contracts of Wacha, Mikolas and Wainwright all expire at season’s end. For that reason, we could see the Redbirds check in on free agents or trade targets whom they could keep in the fold for multiple seasons beyond the next. There’s no real urgency to do so, but there could easily be motivation given the right price and player.

The Cardinals are also an organization known for locking up many of their young players pre-arbitration, and this spring could present many opportunities to do just that. A wave of young players impressed last season, and the ever-opportunistic Cardinals brass could look to capitalize on the chance on some early extensions. Flaherty, Hicks, Bader and O’Neill could represent a strong core for years to come, and gaining additional control and cost-certainty over some of that group could allow the Cardinals to feel secure as some of their older veterans depart or retire in the near future.

Whatever path the Cardinals take this offseason, it seems unlikely to be a quiet one. With motivation to end an unusually long playoff drought, the organization will want to set new manager Mike Shildt up for success. They’ve got money to spend, a reasonable amount of prospect capital, and just enough positional flexibility on the roster to allow them to fit the right player into the picture if the opportunity arises. That should present a comfortable cavalcade of potential strategies to one simple end: add enough wins to remain competitive with a pair of formidable divisional opponents.

Offseason Outlook: Cleveland Indians

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MLBTR is publishing Offseason Outlooks for all 30 teams.  Click here to read the other entries in this series.

The Indians endured the heartbreak of another early exit from the postseason in 2018, and they’re likely to suffer the mass exodus of nearly a dozen free agents. That, combined with several impending player salary increases, a shortage of top prospects, and the looming return to relevance of some rebuilding AL Central teams, poses some difficult questions about the Tribe’s contention window. They’ll enter the offseason foraging for creative (and budget-conscious) ways to address them.

Guaranteed Contracts

  • Edwin Encarnacion, 1B/DH: $25MM through 2019 (includes $5MM buyout on 2020 club option)
  • Corey Kluber, SP: $19MM through 2019 (includes $2MM in buyouts on 2020, 2021 club options)
  • Jason Kipnis, 2B/OF: $17MM through 2019 (includes $2.5MM buyout on 2020 club option)
  • Carlos Carrasco, SP: $10,412,500 through 2019 (includes $662.5K buyout on 2020 club option)
  • Yonder Alonso, 1B: $9MM through 2019 (includes $1MM buyout on 2020 vesting/club option)
  • Brad Hand, RP: $14.5MM through 2020 (includes $1MM buyout on 2021 club option)
  • Yan Gomes, C: $9MM through 2019 (includes $2MM in buyouts on 2020, 2021 club options)
  • Jose Ramirez, 2B/3B: $21MM through 2021 (includes $2MM option on 2022 club option)
  • Roberto Perez, C: $6.9MM through 2020 (includes $900K in buyouts on 2020, 2021 club options)
  • Dan Otero, RP: $1.4MM through 2019 (includes $100K buyout on 2020 club option)

Arbitration-Eligible Players (projections via MLBTR contributor Matt Swartz)

Free Agents

[Cleveland Indians Depth Chart | Cleveland Indians Payroll Outlook]

While the Indians have enjoyed a sustained run of dominance over the rest of the American League Central for the past three seasons, they’ve fallen short of a championship each year, and every time in a fashion more disappointing than the last. Three consecutive losses have bumped them from the playoffs all three times, and they’re now facing yet another club record payroll (north of $145MM) in a market too small in size to support such a figure.

Worse yet, that payroll estimate comes in spite of the very likely departures of several players who’ve been key contributors during the Tribe’s run of success, including Brantley, Allen, Miller and Chisenhall. The subtraction of those contracts from the books are more than negated by gargantuan expected arbitration raises for Bauer and Lindor, in combination with 10 players who are contractually guaranteed raises on their 2018 salaries. Put more simply, Cleveland is set to subtract talent while adding payroll.

It’s not as though there’s significant cavalry on its way from the farm, either. Four of the club’s five top prospects are still playing at Class A or below, and their highest-ranked outfield prospect (their biggest area of need) in the upper minors is Oscar Mercado, who sits at #15 on MLB Pipeline’s Indians prospect rankings. Only #1-ranked Triston McKenzie appears primed to make an impact in 2019, and the Tribe’s rotation already has five locks in the form of Kluber, Carrasco, Bauer, Mike Clevinger and Shane Bieber.

That’s perhaps a large part of the reason the Tribe is reportedly willing to listen to offers on Kluber and Carrasco this winter, in addition to some other pricey veterans. The logic behind it makes plenty of sense: if the Indians can deal from a strength by trading one of their top starters for a cheap, controllable outfielder who can help now, they’d receive some salary relief while improving their outlook further down the road, and all without greatly diminishing the strength of their 2019 ballclub. After all, McKenzie’s ceiling is nothing to scoff at, and without much divisional competition to worry about (again) in 2019, the club might be less concerned with its regular season starting five than it is with its postseason starting four. And one could certainly argue that there’s no better time to reap a generous return for a premium starting pitcher, given the number of pitching-needy contenders and relative dearth of alternatives on the trade market and in free agency.

Of course, with Kluber being a two-time Cy Young winner and one of the main faces of the franchise, it might be hard for fans to stomach losing him in an effort driven in part by a desire to shed salary. Meanwhile, trading Carrasco for even a player owed the league minimum would save the club less than eight figures next season, so while such a move could still help to fill a hole elsewhere on the roster, it wouldn’t go as far in the way of shedding financial obligations. These factors, along with the immense value each pitcher is expected to deliver on his contract in 2019 (and beyond), make it far from a sure thing that either will end up in a different uniform before Opening Day. Rather, the notion of the Tribe trading one of their top two arms should be seen only as one potential card in their hand as they work to solve a complicated roster puzzle headed into next year.

The biggest gap in that puzzle, as we touched upon earlier, lies in the outfield. Brantley, who’s been a mainstay since his MLB debut in 2009, is set to test free agency for the first time in his career; reports say he’s almost certainly not returning to Cleveland. Cabrera, Davis and Guyer, likewise, are vulnerable to being signed by rival teams at this juncture. Martin, for whom they traded prior to the 2018 non-waiver deadline, is expected to make a full recovery from a life-threatening bacterial infection in time for opening day, but outside of him — assuming he is indeed able to get back to full health — the club’s options are extraordinarily fallible. Kipnis hasn’t had a productive offensive season since 2016. Greg Allen has played below replacement level thus far in 330 career plate appearances. Naquin’s career is full of ups and downs and there’s no telling whether he’ll completely rebound from his recent hip surgery. Former top prospect Bradley Zimmer limped offensively in 2018 and won’t return for quite some time due to a shoulder injury he suffered in Triple-A.

Outside of trading a starting pitcher, the Tribe would appear to have few ways to address their outfield need. They already swung a minor trade with the Pirates that netted them major-leaguer Jordan Luplow, though he’s more of a lottery ticket than an established, reliable piece. One possible avenue would be to cash in prospect capital for a talented corner outfield option; certainly MLB Pipeline’s #84 prospect Nolan Jones could get a conversation started for some solid targets. And with monetary funds largely tapped out as things stand at present, they’re highly unlikely to afford a reliable solution on the free agent market.

Then again, that financial outlook could easily change if the club is able to find a taker for some of their more expensive veterans. Encarnacion and Kipnis, for example, are both on the wrong side of the aging curve. The two combined for just 3.2 fWAR in 2018 but are owed a massive sum of $36.5MM for their services next season. Certainly neither player would be viewed as having any sort of surplus value on his respective salary — quite the contrary — and that’s without even considering the $7.5MM in total buyouts on the pair’s contract options for 2020. Still, either could provide a method of shedding salary if the right team were to show interest. Encarnacion has plenty of pop left in his bat, and could be a fit for a handful of American League clubs. Young OBP machine Yandy Diaz could perhaps step in and fill the DH opening should the parrot fly out of Cleveland. Kipnis, meanwhile, could theoretically be replaced with the addition or promotion of an infielder or outfielder, so there are plenty of options to fill his shoes. Certainly plenty of teams would be interested in bringing a league-average middle infielder into the fold.

Of course, the Tribe’s questions marks are not limited to the outfield. Perhaps an even more pressing issue is the club’s bullpen, which finished in the AL’s bottom three in ERA, FIP and fWAR, and has been ravaged by the free agent departures of Allen, Miller and Perez. Of the group set to return, only Hand finished 2018 with an ERA below 4.00. It’s worth mentioning that Salazar is somewhat of a wild card, but overall the outlook is bleak.

It’s unclear what viable options the club has in the way of improving its relief corps to the level necessary to compete with other powerhouse teams, but the “throw a bunch of spaghetti against the wall and see what sticks” method employed by the club in 2018 was a pronounced failure and hopefully won’t be employed again next season. The in-house group is likely to see some positive regression, of course, but creative methods of bringing in reinforcements are likely to be high on the club’s priority list.

While there are certainly plenty of issues to address for 2019, the long-term outlook brings an entirely different cornucopia of questions. While the Indians have a wide variety of high-end young talent locked up for the near future (Lindor, Ramirez, Clevinger and Hand all come to mind), those players will continue to get significantly more expensive over the next three seasons. During that time, their already-expensive veterans are more likely to decline than they are to repeat their recent performances, and unlike in years past they’ve got very few promising players under team control beyond the next three seasons. The AL Central won’t be a cakewalk forever; teams like the White Sox and Tigers are already past the initial teardown phases of their respective rebuilds and figure to be on the upswing in the coming seasons. All of a sudden, the Tribe is facing some very real longevity concerns, and it’s not unthinkable that they could make some creative moves this offseason as a means of addressing them.

Of course, even if they made next to no major moves from this point through spring training, they’re a contender in every sense of the word. Their rotation remains one of the best in baseball, and they have two of the game’s best young position-player talents in Lindor and Ramirez. The path to a fourth consecutive AL Central Championship doesn’t have much in the way of serious obstructions, so any and all acquisitions the Indians make this winter will simply culminate in slight statistical improvements upon their postseason odds. While they aren’t likely to enter next October as favorites, they’ll have a chance, and as we saw with the 2016 club, sometimes an outside shot can carry a team a long way.

The recently (and unofficially) extended Mike Chernoff has a wide variety of issues to address this offseason, but he’s also got a wide variety of options at his disposal and a relatively low floor as far as overall competitive makeup. There will be some suspense as far as who might stay or go, however, and that very aspect of the club’s offseason outlook means that there will be several interesting storylines to follow. Tribe fans will certainly have an entertaining winter ahead of them in that regard.

Projecting Payrolls: Los Angeles Dodgers

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In the opening piece in this series, we looked at the Philadelphia Phillies, a team almost certain to be a major player in this winter’s free agent market. In addition to being a fun look at a key market participant, that piece also sets forth some key assumptions to be used in this series regarding financial information available to the public.

With Philadelphia in our rear view mirror, we turn our attention to the biggest spender in recent years: the Los Angeles Dodgers.

Team Leadership

Despite being a marquee franchise, the Dodgers found themselves embroiled in a quagmire during much of the last decade, with Frank McCourt’s tumultuous ownership ending with a bankruptcy sale to Guggenheim Partners in 2012. Guggenheim — consisting of Mark Walter, Magic Johnson, Stan Kasten, Peter Guber, Bobby Patton, and Todd Boehly — added Billie Jean King and Ilana Kloss as minority owners in 2018, comprising the current group. As is well known, they have spent aggressively throughout their ownership, fueled in large part by an $8.3 billion, 25-year television rights deal with Time Warner.

After directing a run of success in Tampa Bay, Andrew Friedman joined the Dodgers as President of Baseball Operations on a lucrative five-year, $35 million deal after the 2014 season. Despite that massive contract, this is actually a time of some uncertainty with the front office. Friedman named Farhan Zaidi his general manager shortly after taking over in 2014, but Zaidi left to run the rival Giants earlier this month. It is also worth noting that the Dodgers have yet to guarantee an outside free agent even $50 million during Friedman’s tenure.

Historical Payrolls

Before hitting the numbers, please recall that we use data from Cot’s Baseball Contracts, we’ll use average annual value (“AAV”) on historical deals but actual cash for 2019 and beyond, and deferrals will be reflected where appropriate. And, of course, the value of examining historical payrolls is twofold: they show us either what type of payroll a team’s market can support or how significantly a given ownership group is willing to spend. In the most useful cases, they show us both.

As with the Phillies, we’ll focus on a 15-year span for the Dodgers, covering 2005-18 for historical data as a means to understanding year 15: 2019. We’ll also use Opening Day payrolls as those better approximate expected spending by ownership. With the Dodgers, this captures nearly the entirety of the McCourt years and all of Guggenheim’s free spending ways. Here is what the Dodgers have spent in the prior 14 seasons:

The Dodgers payroll story tracks the story of their ownership changes remarkably well. In the mid-2000s, McCourt increased spending to build a winner before corralling expenditures as his divorce from ex-wife Jamie and the effects of purchasing the team with so much debt caught up with him. Then the Guggenheim folks showed up and blew the top off of what most of us thought was the ceiling for spending outside of the Bronx. Importantly, the figures above do not include luxury tax payments, meaning that Dodgers spending was actually notably higher over that span thanks to the taxes that accompanied their lavish spending.

Unlike Philadelphia, the Dodgers were substantial players in the Latin American amateur market before Major League Baseball imposed significant spending restrictions, handing out substantial deals to the likes of Yadier Alvarez, Yusniel Diaz, Omar Estevez, and Erisbel Arruebarrena. In the end, as gaudy as the Major League spending figures were, amateur spending added a significant amount to overall expenditures reflected above, at least during the Guggenheim period of ownership.

Future Liabilities

For a team known for its massive spending habits, the Dodgers have surprisingly little in the way of long-term guarantees, especially when compared to other big spenders in major markets competing for the World Series each year.

Here is a look at their future guarantees with the powder blue highlight indicative of a player option — in the case of Kenley Jansen, this is an opt-out prior to the 2020 season.  As mentioned above, note that the numbers shown on here are cash payments by year, not the salary plus the prorated amount of any bonus. The AAV column captures the player’s luxury tax number.

The Dodgers’ new deal with Clayton Kershaw gives them an ace on a reasonably short-term deal. While the annual financial commitment is high, the Dodgers must have been pleased to keep the term so modest.

Beyond Hill, their salary sheet is loaded with short-term commitments until we hit Maeda. Maeda’s contract is heavily incentive driven. Maeda receives $3 million annually, then receives the following incentives:

  1. $0.15 million for making Opening Day roster
  2. $1 million for each of 15 and 20 starts, then $1.5 million for each of 25, 30, and 32 starts
  3. $0.25 million for each of 90, 100, 110, 120, 130, 140, 150, 160, 170, 180, and 190 innings pitched, then $0.75 million for 200 innings pitched

It is an extraordinarily team-friendly pact, one that has played out handsomely for Los Angeles. From a budgetary standpoint, however, it does present plenty of uncertainty.

At the bottom of the chart, we see two lines with hefty numbers but no tax component. First, we see the remaining half of the $48 million owed to Scott Kazmir from his three-year deal covering the 2016-18 seasons. Instead of receiving $16 million per year or something close to it, Kazmir received $8 million annually for six years. As such, he will receive his $8 million annual payouts in 2019-21, but those cash receipts won’t count against the Dodgers’ luxury tax figure. Cuban pitcher Yaisel Sierra obtained a substantial guarantee from the Dodgers, but he is yet to pass Double-A and didn’t record an inning in affiliated ball in 2018. Because L.A. removed him from their 40-man roster (under a rule that has now been amended), his significant cash guarantees do not count against the luxury tax figure for the Dodgers either.

Moving to arbitration, the Dodgers feature a pair of massive paydays for pending free agents in Yasiel Puig and Alex Wood. On the other hand, they appear to have “lucked” into artificially deflated arbitration pay rates for shortstop Corey Seager due to a poorly timed injury in his platform year. Here are the arbitration statuses (salary projections by MLBTR and Matt Swartz):

The Dodgers have a number of key contributions controlled via arbitration, but as is the case with most teams, there are some players here who stand a good chance of being non-tendered. From this viewpoint, it looks like Koehler, Garcia, and Rosscup will likely get the boot. Regardless of what happens with that trio, only a couple of million dollars in savings are there to be found.

What Does Team Leadership Have to Say?

This is where things get interesting. Really interesting. Last week, the Bill Shaikin of the Los Angeles Times got hold of a document prepared by the Dodgers before the 2017 postseason for potential investors indicating that the club intended to stay below the luxury tax threshold each year from 2019-22. This would be a striking shift from the free-spending club. The document pegged future payrolls roughly $5 million south of the luxury tax threshold in each season once player benefits are factored in, as they are for luxury tax purposes, projecting payroll at $185 million in 2019 and 2020, $191 million in 2021, and $196 million in 2022.

Will such a spending restriction come to fruition? Your guess is as good as mine. It’s worth stressing that the document was prepared before the 2017 postseason and that Shaikin cited a team official as saying that he would be “shocked” if the payroll stayed below $200 million in 2019. The team’s plans might have changed in the last 13 months, especially after back-to-back World Series losses. But one significant data point out there regarding Dodgers spending in 2019 suggests that the 2018 payroll will be far more predictive of spending in 2019 and beyond than were the payrolls from 2013-17.

Are the Dodgers a Player for Bryce Harper or Manny Machado?

Simply put, this depends on how you feel about the two preceding paragraphs. If the Dodgers haven’t altered their plans since that document was prepared, it’s difficult to see them making a serious push for either player. If the Dodgers were merely posturing with the leaked document or setting forth an aspirational threshold that they don’t actually expect to hit, Harper or Machado is surely in play as the franchise continues to be flush with cash as they chase a World Series title that has proved elusive. (Those same leaked projections also predicted significant revenue increases.)

What Will the 2019 Payroll Be?

The standard disclaimer: ownership and management knows the actual budget whereas we’re focusing on historical data and other relevant factors to project future spending in the immediate and more distant years to come.

Whereas the Phillies will clearly spend and spend big, the Dodgers enter this offseason as a wild card. They have enough talent on the Major League roster and in the upper levels on the farm to expect another excellent season in 2019 without marquee additions this winter. They lack an obvious hole — provided, at least, that the Dodgers believe in Matt Kemp’s 2018 resurgence. Of course, even if they don’t buy into Kemp repeating his surprising success, Alex Verdugo is likely ready to jump to the big club to take his job.

If the Dodgers are serious about capping their spending south of the tax line, they won’t make a big move. Even removing Koehler, Garcia, and Rosscup, the Dodgers are projected to spend $196.5 million including the hits for Kazmir, Sierra, and Toscano. Removing that trio, they are still at $184.3 million. There just isn’t enough payroll space to make a splash. If, on the other hand, the Dodgers get serious about Harper, they could create enough financial wiggle room to sign him by upping payroll by a few million dollars, shipping out Puig, and trading one of their lefty starters: Wood, Rich Hill, or Hyun-Jin Ryu. Friedman would likely be able to find a market for his moderate-sized contracts should he elect to go that route, though Ryu would have to approve any deal before June 15th of 2019 since he accepted a qualifying offer and is therefore treated like a signing free agent.

While it seems crazy to think that they’ll actually hold tight to their purse strings, the presence of impact talent on the farm and a strong Major League roster lends credence to the idea that L.A. could roll into 2019 with their core largely intact from 2018, allowing Machado to leave in free agency after a mercenary visit while passing on the chance to bring Harper back to the Southwest. Crazier things have happened.

We’ll find out if I’m a chump for believing this in the coming weeks.

Projected 2019 Payroll: $195 million

Projected 2019 Payroll Space: -$1.5 million

Offseason Outlook: San Francisco Giants

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MLBTR is publishing Offseason Outlooks for all 30 teams. Click here to read the other entries in this series.

The Giants reassigned general manager and longtime front office fixture Bobby Evans in order to bring some fresh ideas into the mix after two straight disappointing seasons.  Now, newly-hired president of baseball operations Farhan Zaidi faces a tall order in streamlining an expensive, veteran-heavy, underachieving roster and helping guide the Giants back to contention.

Guaranteed Contracts

Arbitration Eligible Players (service time in brackets; projections via MLBTR contributor Matt Swartz)

Free Agents

[San Francisco Giants Depth Chart | San Francisco Giants Payroll Information]

The top eight names in the “guaranteed contracts” section (everyone except Tony Watson and Pablo Sandoval) are slated to earn approximately $135.84MM in 2019, coming off a season in which the octet generated a combined 8.3 fWAR.  That’s a lower total fWAR than Mookie Betts, Mike Trout, and Jacob deGrom produced as individuals in 2018, which is indicative of the troubling situation in which San Francisco finds itself heading into this new season.  Between homegrown names that haven’t been producing and high-priced acquisitions that range from underwhelming to disastrous, the Giants simply don’t know what to expect going forward from most of the biggest names on their roster.

Into this situation comes Zaidi, who brings more of an analytically-minded approach to the Giants’ more traditionally “old-school” front office.  Zaidi has experience finding efficiencies while working with payrolls both small (from his time in the Athletics’ front office) and large (as the Dodgers’ GM).  Ideally, the Giants would love to see Zaidi replicate what he did in Los Angeles alongside president of baseball operations Andrew Friedman — cut tens of millions in salary while still reaching the postseason every year.  The Dodgers went from touching the $300MM mark in payroll at the start of Zaidi’s tenure to getting under the luxury tax threshold this past season.

Unlike with the Dodgers, however, Zaidi inherits a Giants team that doesn’t have many polished prospects ready to step into regular roles.  And, while the Dodgers had their share of underperforming big contracts, injury questions weren’t quite as prevalent as they are for the Giants’ priciest assets heading into 2019.

Johnny Cueto, for instance, almost surely won’t pitch next season after undergoing Tommy John surgery in August.  Hip surgery could keep Buster Posey from the Opening Day lineup.  Brandon Belt battled knee problems down the stretch and has a lengthy injury history.  Jeff Samardzija missed much of 2018 with shoulder issues, and Mark Melancon’s two years in San Francisco have been punctuated by multiple trips to the disabled list.  Brandon Crawford dealt with nagging knee problems last year, though he also simply hasn’t hit as much over the last two years as he did from 2014-16.

Madison Bumgarner has had his own share of DL time over the past two seasons, which was certainly one reason why his numbers (3.29 ERA, 7.9 K/9, 3.33 K/BB rate over 240 2/3 IP) were a step back from his usual ace standards.  That said, Bumgarner is still easily the most intriguing trade chip/extension candidate the Giants have, and what the team decides to do with the southpaw this offseason may quite possibly determine their approach for the rest of the winter.

If Bumgarner is re-signed to another extension, the Giants will add to their ledger of long-term deals and perhaps signal that they’re aiming to get back into contention right away.  A Bumgarner trade, however, could lead one of two scenarios.  First, the Giants could approach 2019 as a bit of a mini-rebuild, to add young talent and clear some money in order to make a renewed push for 2020.  Secondly, the Giants could deal Bumgarner as part of a rebuild on the fly, adding some MLB-ready pieces that would help them fill some holes immediately.

This is complete speculation on my part, and admittedly dealing Bumgarner without getting at least one blue-chip prospect in return would be a bit of a waste.  But, the Giants could explore moving Bumgarner along with either Belt or Evan Longoria in the same deal, accepting only a moderate return of either mid-range prospects, or perhaps a big league player who could help the Giants at another position (such as maybe a third baseman to replace Longoria).  The Giants are reportedly looking to move Longoria, who struggled in his first season outside of Tampa Bay and is still owed over $73MM through 2022.  As for Belt, he was the most productive of the Giants’ long-term assets, though dealing him would free up first base for some combination of other possibilities: giving a look to prospect Chris Shaw, Posey splitting time between first and catcher, or targeting a potentially underpriced asset in free agency or trade.  Both Belt and Bumgarner have partial no-trade clauses that allow them to block deals to 10 and eight teams, respectively, so it could be a bit tricky finding a willing trade partner for this scenario who isn’t on either player’s no-trade list.

Such a deal would give San Francisco more flexibility with both roster construction and the payroll.  After they (barely) ducked under the Competitive Balance Tax threshold last season, the Giants reset their luxury penalization to zero, and they’ll pay only a first-timer minimum penalty should they surpass the $206MM payroll limit.  So while the team doesn’t necessarily face any huge restraints in regards to spending, getting one big contract off the books is probably a logical step if the team is preparing to make another high-priced addition.

Signing Bryce Harper, of course, would be the biggest such move the Giants could make, though early reports have suggested the club isn’t going to be a major suitor for the 26-year-old free agent.  San Francisco has the resources and the ownership track record to pursue just about any free agent, or to take on a big contract from another team in a trade, though it remains to seen if the Giants will be as aggressive in this regard under Zaidi as they were under the Brian Sabean/Bobby Evans regime.

If we’re mentioning Harper, it’s only fitting that we also at least throw Manny Machado’s name out there.  While Zaidi just a few months removed from bringing Machado to the Dodgers in a trade, a Machado/Giants connection seems unlikely at best.  To make room for Machado at third base or shortstop, San Francisco would have to move either Longoria or Crawford, and neither player has much in the way of immediate trade value thanks to their salaries and lackluster 2018 seasons (plus, Crawford’s contract grants him full no-trade protection).  Eating money to facilitate a Longoria/Crawford trade and also paying $350MM+ for Machado doesn’t seem like a very realistic proposition.

The two corner outfield positions and second base are the most pressing areas of need around the diamond for the Giants.  Barring trades, the other spots will be covered by Longoria at third base, Crawford at shortstop, Belt at first base, defensively-gifted youngster Steven Duggar in center field, and Posey receiving the bulk of playing time behind the plate (while also getting some rest games as a first baseman).  A reunion with veteran backup catcher Nick Hundley has been mentioned as a likely possibility while Posey is on the mend, with youngster Aramis Garcia also in the mix.

Austin Slater, Mac Williamson, Gorkys Hernandez (if he isn’t non-tendered), utilityman Alen Hanson, and Shaw are in the mix for bench duty for perhaps a share of a platoon in left or right field.  For at least one of the two outfield positions, however, the Giants will surely add an established everyday player, either on the trade front or in free agency.  If a record-setting contract for Harper is too rich for the Giants’ blood, other free agent options include Michael Brantley or old friend Andrew McCutchen.  A.J. Pollock is a center fielder by trade, though if he is willing to consider a position change, he and Duggar would be a great defensive pairing in AT&T Park’s expansive outfield (or Pollock could play center himself if Duggar isn’t ready for everyday action).

Marwin Gonzalez’s versatility makes him a good fit on most teams, though he’d be particularly useful to the Giants rotating between the corner outfield spots and second base.  Joe Panik was a replacement-level player (0.1 fWAR) last season, and considering his lack of power, the downturn in his defensive metrics, and injury history — not to mention the glut of options on the second-base market — San Francisco could simply non-tender Panik and seek out a more reliable, cost-efficient, and/or controllable option.  Jed Lowrie might be an interesting player to consider in this regard, as a familiar name to Zaidi from their time in Oakland and a quality player who wouldn’t require too lengthy a contract given his age (35 in April).

At a projected $4.2MM in arbitration, Panik isn’t a bank-breaker to retain, though the Giants could get themselves some extra cover at second base with a multi-position addition like Gonzalez.  Not to say that the next Max Muncy or Chris Taylor is awaiting the Giants, but Zaidi’s Dodgers had a knack for finding those types of hidden-gem utility types.  Looking elsewhere around the bench, Sandoval and Hanson line up as the utility options, and the Giants will have to sort through the aforementioned outfield candidates to figure out their backup situation.  Williamson and Hernandez are both out of options, which could give them a leg up on the other possibilities.

San Francisco’s bullpen turned in a quietly solid year in 2018, headlined by Watson’s excellent year and Will Smith posting some strong numbers after returning from Tommy John surgery.  Melancon also pitched well after making his season debut in June, and the Giants are hopeful that he can reclaim his old closer’s job and finally start to provide a quality return on that big contract.  I’d guess the Giants might add another depth arm or two, though relief pitching doesn’t appear to be a major priority for the team this winter.

Losing Cueto is a big hit to the Giants’ rotation, though the team did find some unexpected starting help from rookies Dereck Rodriguez and Andrew Suarez last season.  Those two 26-year-old arms are penciled into a starting five that features a lot of uncertainty, given Bumgarner’s trade situation, Samardzija’s health, and Chris Stratton’s inconsistency.  Ty Blach and minor league righties Shaun Anderson and Tyler Beede could also fight for consideration in Spring Training, though Beede will have to strongly rebound from significant struggles at both Triple-A and in a brief big league cameo.

It would theoretically help the Giants quite a bit to add another front-of-the-rotation type of pitcher who could both contribute in 2019 and also anchor the starting staff in the future, should Bumgarner depart in free agency or be shipped out in a trade.  Top free agents like Patrick Corbin, Dallas Keuchel, or Nathan Eovaldi could all fit the model as a long-term answer, or a shorter-term solution like J.A. Happ could also be considered.  The Giants are one of several teams who have scouted Yusei Kikuchi and the organization’s interest in the Japanese left-hander dates back years, so San Francisco will certainly be a player if Kikuchi is posted as expected.

While the Giants could shop at the high end of the market, it’s worth noting that the team hasn’t had much luck on expensive pitching contracts in recent years, between the Cueto and Samardzija signings and Matt Cain’s extension.  AT&T Park’s pitcher-friendly reputation make it a popular destination for relatively inexpensive veterans looking for a rebound year, so the Giants could pursue such arms in the hope of finding the next Derek Holland.  The southpaw revived his career in San Francisco last season, posting a 3.57 ERA, 8.9 K/9, and 2.52 K/BB rate over 171 1/3 innings after signing a minor league contract that came with just a $1.5MM base salary.  Holland is sure to land more in his latest trip through free agency, though his price tag won’t be too high for the Giants to consider a reunion.

There’s really no shortage of options facing Zaidi, who is open to any and all possibilities when it comes to getting the Giants on track as quickly as possible.  A total rebuild doesn’t appear to be on the table this winter, nor does a major spending spree, but pretty much anything in between seems to be under consideration.  The Giants could end up being as active and creative of any team this offseason, though it remains to be seen if enough can be done to get the club turned around in time to be a factor in what should be a competitive NL West in 2019.

MLBTR Originals

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Here’s the last week’s worth of original content from the MLB Trade Rumors writing team…

  • A 10-9 win-loss record didn’t prevent Jacob deGrom from winning the NL Cy Young Award, though that record could impact what the Mets ace will earn in arbitration this winter.  Matt Swartz, creator of MLBTR’s arbitration model, profiles deGrom’s unique situation in the first Arbitration Breakdown piece of the 2018-19 offseason, noting that deGrom could end up being an important precedent for other pitchers in future arbitration cases.
  • Speaking of arbitration, Tim Dierkes presents MLBTR’s annual list of potential non-tender candidates, listing 51 arb-eligible players whose teams could simply not tender them new contracts on the November 30th deadline.  These players could also be candidates to be traded or released before November 30 — since Tim published his list, we’ve already seen one name (Justin Bour, formerly of the Phillies) hit the waiver wire.
  • Speaking of Phillies first basemen, Carlos Santana is rumored to be on the trade market less than a year after signing in Philadelphia, as the team is eager to end the Rhys Hoskins-as-an-outfielder experiment.  Tim takes a look at some teams that could possibly fit as trade partners for the Phillies in finding a new spot for the veteran slugger.
  • Trading Santana is just one of many rumored moves in what is expected to be a very busy offseason for the Phillies.  With the team linked to just about every big free agent and trade target on the market, the question has to be asked, how much do the Phillies have to spend on these acquisitions?  In his first “Projecting Payrolls” piece for MLBTR, Rob Huff breaks down the Phillies’ projected payroll space for the coming offseason, based on such factors as their past spending habits, future commitments, team needs, and more.
  • Our preview of each team’s winter plans continued with seven new entries in the Offseason Outlook series.  This week’s featured teams: the Mariners, Mets (both by Connor Byrne), Pirates, Nationals (both by Jeff Todd). Padres (by Jason Martinez), Yankees (by Steve Adams), and Red Sox (by Mark Polishuk).
  • Patrick Corbin is projected to land the biggest contract of any free agent starting pitcher, leading Ty Bradley to ask MLBTR’s readers which team will end up signing the star left-hander.  The choice was clear, as over 55% of readers polled believe Corbin will return to his home state to sign with the Yankees.
  • We’ll wrap up this Phillies-centric week of original content with another poll, this one from Connor inquiring whether or not Philadelphia will wind up with Manny Machado and/or Bryce Harper when the dust settles this winter.  Interestingly, 32.67% of readers polled believe neither player will be a Phillie on Opening Day, with 27.34% predicting the Phillies will sign Harper and 25.77% calling a Machado signing.
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