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Giants Trade Ross Stripling To Athletics

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The A’s announced Friday that they’ve acquired right-hander Ross Stripling and cash from the Giants in exchange for minor league outfielder Jonah Cox. In order to clear a spot on the 40-man roster, infielder Jonah Bride was designated for assignment. Oakland also confirmed its previously reported one-year deal with lefty Alex Wood.

It’s a rare swap of players between the two Bay Area clubs — one that will add some direly needed pitching to an Athletics roster that’s largely devoid of proven big league arms. The 34-year-old Stripling is coming off a tough first season after signing a two-year, $25MM deal with San Francisco, though he did pitch quite a bit better as the season wore on. The veteran swingman opened the season with 32 1/3 innings of 7.24 ERA ball between the rotation and bullpen before hitting the injured list with a back strain for the next six weeks.

Perhaps Stripling was never at full strength to begin the year, because upon returning from the injured list he pitched much more like his typical self. Over the course of his final 56 2/3 frames, the right-hander notched a 4.29 earned run average with a pedestrian 18.7% strikeout rate and an elite 2.6% walk rate. That lines up far more nicely with Stripling’s broader track record; from 2016-22, he logged a 3.78 ERA in 672 innings split between the Dodgers and Blue Jays.

Stripling is owed $12.5MM this coming season. He had an opt-out opportunity following year one of his contract but unsurprisingly decided to forgo that right after his uneven showing with the Giants. Andrew Baggarly of The Athletic reports that the Giants are paying down $3.25MM of Stripling’s salary; the A’s will be on the hook for the remaining $9.25MM.

The A’s could opt to use Stripling in the rotation or in the bullpen. He has ample experience in both roles and has had success in each as well. Certainly, Oakland brass had hoped that by now, several of the young arms acquired in the trades of Matt Olson, Matt Chapman, Chris Bassitt, Sean Manaea, Frankie Montas, Sean Murphy, Lou Trivino and others would have yielded some controllable cornerstone pieces in the starting rotation.

That hasn’t happened, however. Left-hander JP Sears, who posted a 4.54 ERA in 32 starts and 172 1/3 innings out of the rotation last year, is the lone pitcher acquired in that fire sale who’s had any semblance of sustained success with the A’s. Others such as Ken Waldichuk, Kyle Muller, Adrian Martinez, Luis Medina, Zach Logue and Adam Oller (among others) have struggled. Medina did pitch fairly well in the second half of the 2023 season and is likely ticketed for a rotation spot in ’24, but that’s a sample of only 50 innings (4.32 ERA, 21.3% strikeout rate, 11.1% walk rate).

As such, it seems likely that Stripling and Wood will be reunited as not only teammates but rotation-mates. Stripling’s experience oscillating between a starting and relief role could mean he ends up in the bullpen at various points while the A’s take a look at younger arms. His familiarity with that role is a benefit to a team in the Athletics’ situation. If either Stripling or Wood can rebound after posting shaky results with the 2023 Giants, it’s quite likely that a non-contending A’s team will flip them both for younger talent prior to this summer’s trade deadline.

Stripling’s acquisition comes at the cost of the 28-year-old Bride’s roster spot. Bride, a versatile infielder/outfielder who’s played just about every position on the diamond, has appeared in each of the past two big league seasons. He’s batted just .192/.296/.232 in 293 trips to the plate, but he carries a stout .322/.450/.533 line in 401 plate appearances in Triple-A, where he’s walked more often than he’s struck out. The A’s will have a week to trade Bride or attempt to pass him through outright waivers. He still has a minor league option remaining. Between that, his plus hit tool and defensive versatility, he’s a candidate to be claimed or flipped to another club in a separate, minor trade.

As for the Giants, they’ll acquire Oakland’s sixth-round selection from just this past summer’s draft. Cox, 22, batted .287/.366/.403 with a 28.3% strikeout rate and 6.2% walk rate in 145 plate appearances split between the Athletics’ Rookie-level Arizona Complex League and Low-A clubs. Baseball America ranked him 29th among A’s farmhands heading into the 2024 season, touting him as a plus-plus runner who can handle center field. Cox is years away from being a potential big league factor, but despite struggling with strikeouts in his debut season, BA praised his strong bat-to-ball skills and credited him with an above-average hit tool.

For San Francisco, the money saved in the trade is every bit as important as the player side of the return. Moving the bulk of Stripling’s contract dropped the Giants’ payroll to a projected $154MM, per Roster Resource, and they’re now just under $200MM in luxury tax obligations. That gives them $37MM worth of AAV to work with before they come against even the first luxury threshold.

There are any number of ways for Giants president of baseball operations Farhan Zaidi to reallocate those funds. The Giants have been linked to Matt Chapman throughout the offseason, and signing him would bolster the infield defense while adding some pop (but also quite a few strikeouts) to the lineup. Cody Bellinger looks like less of a fit than he did prior to the Giants’ signing of Jung Hoo Lee on a six-year deal, but it could conceivably work out if the Giants push Michael Conforto into more of a DH role (or trade Conforto or another outfielder such as Mike Yastrzemski). San Francisco also reportedly made a late offer to Rhys Hoskins before he signed in Milwaukee, so it seems there’s the possibility of adding a bat to the first base/designated hitter mix.

Just as notable is San Francisco’s lack of rotation stability. Ace Logan Webb is one of the game’s best arms, but the trade of Stripling leaves the Giants with zero established arms beyond him. Top prospect Kyle Harrison was solid in last year’s MLB debut, but that amounted to all of 34 2/3 innings. The Giants signed oft-injured reliever Jordan Hicks and plan to plug him into the rotation — a dicey proposition that would be more befitting of a team with only one rotation hole and several workhorse arms ahead of him. Younger righties like Keaton Winn and Tristan Beck could factor into things as well, but it was obvious even before trading Stripling that the Giants needed at least one more starting pitcher.

The Giants have the resources to pursue top-of-the-market arms like Blake Snell and Jordan Montgomery, though doing so would require deviating from the front office’s prior aversion to long-term deals for pitchers. Other yet-unsigned options include Michael Lorenzen, Mike Clevinger and Hyun Jin Ryu. The trade market features names like Dylan Cease, Shane Bieber and any number of Marlins hurlers (Edward Cabrera, Braxton Garrett and Jesus Luzardo among them).

Stripling becomes the second pitcher and third free-agent signing from last offseason that the Giants will pay to pitch elsewhere in 2024. San Francisco paid the Mariners $6MM in the trade sending Anthony DeSclafani and Mitch Haniger to Seattle. (DeSclafani has since been flipped to Minnesota along with a bit of additional cash kicked in from the M’s.) They’ll have to hope for better results in this winter’s crop of signees if they hope to avoid a fifth playoff miss in six seasons under the current front office.

Theo Epstein Joins Fenway Sports Group As Partial Owner, Senior Advisor

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Former Red Sox general manager Theo Epstein will have a role with the team once again, as Sportico’s Brendan Coffey reports that Epstein is set to join Fenway Sports Group as a partial owner and senior advisor. Red Sox principal owner John Henry and chairman Tom Werner hold those same respective titles with the FSG conglomerate, which owns the Red Sox, Pittsburgh Penguins, Liverpool F.C., RFK Racing, NESN and several other sports holdings.

“It’s a great honor, something I’m really excited about,” Epstein tells Coffey. “It’s just exciting to be joining such a dynamic, groundbreaking company across multiple sports, doing so many innovative things at the cutting edge of everything going on in sports these days. For me, it’s perfect, I was looking for a pathway into ownership.”

While Epstein won’t be resuming his role as head of baseball operations, he does have a strong relationship with newly hired Red Sox chief baseball officer Craig Breslow. Epstein was the Cubs’ president of baseball operations when he hired Breslow as the team’s director of strategic initiatives. Breslow was eventually named the Cubs’ organization-wide director of pitching before being promoted to assistant general manager.

“I’m a full believer in him and what he and his team are going to mean for the Red Sox,” Epstein said of Breslow.

Per Coffey, Epstein will serve as a “sounding board and executive coach” to the Red Sox baseball operations staff when needed but doesn’t have a formal role within the baseball ops ranks in his return to the organization. According to FSG’s press release announcing the hiring, Epstein will advise Henry, Werner, CEO Sam Kennedy and president Mike Gordon “on the company’s sporting operations across the portfolio and consult on strategic growth and investment initiatives.”

“There is no question that Theo left an indelible mark on our history that represented a transformative era,” Henry said in a statement within FSG’s press release. “Welcoming him as a member of our ownership group and in the role of Senior Advisor to the broader company brings with it a sense of completion. With his strategic mind, leadership, and unwavering passion for sports, Theo brings invaluable assets that will drive us forward across our diverse enterprises, especially in our sporting operations across hockey, EPL football, and baseball. We take great pride in welcoming him to the FSG family and eagerly anticipate the insights and contributions he will bring as we continue to build on the legacy of success he played a pivotal role in helping us shape.”

Epstein, 50, was the Red Sox’ general manager from 2003-11, during which time he oversaw the construction of a 2004 Red Sox club that broke the organization’s 86-year World Series drought and quickly added a second championship four years later, in 2007. The Cubs hired Epstein away and gave him the new title of president of baseball operations following the 2011 season. As was the case in Boston, he broke a historic championship drought when the 2016 Cubs won the World Series for the first time since 1908.

Epstein stepped away from the Cubs following the 2020 season, ceding his president of baseball operations title to longtime general manager Jed Hoyer. Months later, Epstein was named a consultant to Major League Baseball commissioner Rob Manfred — a role in which he’s credited with helping to implement MLB’s pitch clock and several other newer rule changes. He’s held until present day but will now step away from the commissioner’s office as he begins his next venture. Epstein will still serve the league’s Competition Committee and On-Field Committee “on an informal basis,’ per FSG’s press release, and he’ll be able to continue as the Operating Partner for Arctos Partners, a private sports equity firm that Epstein joined back in Feb. 2021.

Orioles Acquire Corbin Burnes

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The Orioles got their ace. Baltimore announced the acquisition of 2021 NL Cy Young winner Corbin Burnes from the Brewers for rookie infielder Joey Ortiz, left-hander DL Hall, and their 2024 Competitive Balance Round A draft pick (#34 overall). Milwaukee designated lefty Ethan Small for assignment to clear the necessary 40-man roster spot.

There’d been speculation as far back as last offseason about the possibility of the Orioles acquiring a top-end starting pitcher. Baltimore has a loaded farm system that has graduated plenty of young talent over the past two seasons. Most of that has been concentrated on the position player side, making it a natural fit for them to leverage that farm depth to bring in an impact starter.

Burnes certainly qualifies. He established himself in the Milwaukee rotation during the shortened 2020 campaign. The righty has finished in the top 10 in NL Cy Young balloting in each of the past four seasons. He won the award in ’21 thanks to an MLB-best 2.43 ERA across 167 innings. Burnes followed up with a National League-leading 243 strikeouts and a 2.94 ERA across 202 frames the following season.

Last season was perhaps his least impressive showing since his 2020 breakout. Yet it could only be classified as a “down” year by Burnes’ immense standards. He remained a top-of-the-rotation pitcher, turning in a 3.39 ERA while logging 193 2/3 innings across 32 starts. His 25.5% strikeout rate was still a few points better than league average, as was his 12.2% swinging strike percentage. He finished eighth in Cy Young voting.

It wasn’t the same level of dominance that Burnes had shown in the preceding three years. He had fanned more than 30% of opponents with a swinging strike rate above 14% in every year from 2020-22. Burnes looked more like his old self down the stretch, however. He carried a 3.94 ERA and a 23.1% strikeout rate into the All-Star Break. In the second half, he fanned 28.6% of opponents while allowing only 2.71 earned runs per nine. Opposing hitters had a pitiful .187/.259/.294 slash line after the Midsummer Classic.

Going back to the start of 2020, Burnes has a 2.86 ERA over 105 appearances. He has punched out nearly 31% of batters faced against a modest 7.1% walk rate. Batters are hitting .197/.262/.308 in nearly 2500 trips to the plate. Neither left-handed nor righty-hitting opponents have had success against him. Outside of a two-week injured list stint early in 2021 because of a finger contusion, he hasn’t missed any time within the last three years.

Burnes is a true ace, one of the 5-10 best pitchers in baseball. He jumps to the top of a rotation that has suddenly gone from Baltimore’s biggest question to one of the higher-upside staffs in the league. Kyle Bradish slots in as the #2 arm after a breakout 2023 campaign in which he worked to a 2.83 ERA over 30 starts. Grayson Rodriguez looks to have turned a corner in the second half. The former top pitching prospect worked to a 4.35 ERA in his rookie season. After being tagged for a 7.35 ERA in his first 10 MLB outings, he turned in a 2.58 mark in his final 13 regular season starts (although he was hit hard in his lone playoff appearance).

That’s a potentially elite top three. Former All-Star John Means returned from Tommy John surgery late last season. Some residual elbow soreness kept him off the club’s playoff roster, but he’s expected to be fully healthy for 2024. If that’s true, he slots in well as the #4 starter. Dean Kremer would likely occupy the final spot, with Tyler Wells and Cole Irvin pushed into season-opening relief roles.

While the O’s could perhaps benefit from another depth addition or two, they’ve landed the true #1 that should represent the finishing move on an already great roster. Baltimore’s loaded young lineup and excellent relief corps led the team to 101 wins and an AL East title a year ago. The O’s lost star closer Félix Bautista to Tommy John surgery at year’s end but moved early in the offseason to sign Craig Kimbrel as a replacement.

It’s likely a one-year acquisition. Burnes will hit free agency next offseason shortly after his 30th birthday. With anything like his typical levels of production, he’ll be in line for a massive contract that could top eight years and $200-250MM. Burnes has been clear about his desire to test his value on the open market. Asked in December about the possibility of signing an extension if he were traded this winter, he said such an offer “would have to be something that would just absolutely blow you away to get you away from testing the free agent market.”

As recently as last week, O’s fans wouldn’t have been able to dream about the organization putting that kind of proposal on the table. Baltimore has dramatically scaled back spending since John Angelos assumed control of the franchise. On Tuesday, the Angelos family agreed to sell the organization to private equity mogul David Rubenstein. How that’ll impact the long-term payroll outlook remains to be seen, but Baltimore fans can be more optimistic about the chances of making significant investments once Rubenstein takes control of the franchise after the sale is approved by MLB in the coming months.

In any case, the primary focus is installing Burnes atop next year’s rotation. The three-time All-Star had settled on a $15.637MM contract with Milwaukee to avoid arbitration in his final season of eligibility. That makes him the highest-paid player on Baltimore’s roster and pushes their 2024 payroll projection to roughly $96MM, as calculated by Roster Resource. It’ll be their highest season-opening payroll since 2018 and is a marked increase over last year’s approximate $60MM mark.

Still, they’re in the bottom third of the league in projected spending. They’re making a push to defend a title in what is annually one of the sport’s most competitive divisions. Their only commitments beyond this season are a $1MM salary for Bautista and a handful of inexpensive option buyouts. Even if this takes them near their spending limit this offseason, they should have flexibility to further bolster the roster near the deadline.

That Baltimore did so without surrendering any of their true top-tier prospects reflects both the strength of their talent pipeline and the value ceiling for any player who is only one year from free agency. Ortiz and Hall are each highly-regarded young players but placed in the back half of Baltimore’s top 10 prospects at Baseball America.

Ortiz, 25, was a fourth-round pick in 2019 out of New Mexico State. He’d drawn praise for his defensive acumen dating back to his time in college. The right-handed hitter has been more productive at the plate than many amateur scouts anticipated. He owns a .286/.357/.449 slash in his minor league career. Ortiz posted even better numbers between the top two levels of the minors a year ago.

In 389 plate appearances in Norfolk, he hit .321/.378/.507 with nine homers and 30 doubles. Ortiz spent most of his time at shortstop while logging some action at both second and third base. Baltimore promoted him for the first time at the end of April. He nevertheless spent most of the season on optional assignment, appearing in only 15 big league contests. With Jackson Holliday and Gunnar Henderson as the projected left side infield for the foreseeable future, Ortiz would have had a hard time finding much playing time.

Baseball America’s scouting report rates Ortiz as a potential 70-grade (plus-plus) defensive shortstop. Assuming he’s not traded in the next six weeks, Willy Adames will open the season at shortstop. Milwaukee is likely to lose Adames to free agency next winter at the latest, though, leaving a clear path for Ortiz to emerge as the long-term answer. In the short term, he should battle Andruw Monasterio and Owen Miller for playing time at third base. If Monasterio or Miller warrant extended run at the hot corner, Ortiz is an alternative to Brice Turang at second. Turang is a gifted defender but struggled at the plate during his rookie year.

Hall, also 25, was a first-round pick out of a Georgia high school seven years ago. The 6’2″ southpaw has had the same general profile for his entire professional career: huge stuff with worrying control issues. Hall made his MLB debut in 2022 and has logged 33 big league innings over the past two seasons. He owns a 4.36 ERA with a 29% strikeout rate while working almost exclusively in relief.

His 7.6% walk percentage at the MLB level isn’t out of the ordinary. Hall has been a lot less consistent at throwing strikes in the minors, however. He handed out free passes to over 13% of batters faced in 49 innings at Norfolk a year ago, which is right in line with the 13.4% walk rate he owns in his minor league career.

That he also punched out nearly a third of batters faced in Triple-A hints at the excellent arsenal he owns. His fastball averaged nearly 96 MPH in his big league relief work. Hall also worked with a mid-80s slider and changeup while occasionally mixing in a curveball. BA’s scouting report notes that all four of those offerings could be plus or better.

It’s top-of-the-rotation caliber stuff, but Hall’s strike-throwing has led many evaluators to project him as a high-octane reliever. Milwaukee could use him in either capacity. The Brewers have ample opportunity in the rotation behind new staff ace Freddy Peralta. Veteran lefty Wade Miley is a steadying presence. After that, Milwaukee could lean on any of Colin Rea, injury returnees Joe Ross and Aaron Ashby and prospects like Hall and Robert Gasser in the rotation.

Neither Ortiz nor Hall has reached one year of major league service. They’re each under club control for at least six seasons and three years away from arbitration. They’re the kind of high minors players that Milwaukee frequently targets. Their organizational philosophy, much like that of other small-market franchises like the Rays and Guardians, is to eschew traditional competitive windows while building the farm system by trading veterans as they get close to free agency.

GM Matt Arnold stated that trading Burnes isn’t the signal of a traditional rebuild (relayed by Curt Hogg of the Milwaukee Journal-Sentinel). Last week’s signing of Rhys Hoskins to a $34MM free agent deal that allows him to opt out after next season makes clear they’re not giving up on contending in a wide open NL Central. They’ve shown time and again they’ve nevertheless open to offers on most players to try to remain consistently competitive. After trading Josh Hader at the 2022 deadline led to discontent within the clubhouse, the front office suggested they were less inclined to make those kinds of trades during the season.

Between the shoulder injury that led Milwaukee to non-tender Brandon Woodruff and tonight’s move, the Brewers have subtracted their top two starters this offseason. Milwaukee’s payroll projection drops to around $102MM, per Roster Resource. That’s well below last year’s $118MM season-opening mark. That leaves open the possibility of Milwaukee backfilling the rotation in free agency. Arnold was noncommittal as to whether the team planned to reinvest their payroll savings (via Hogg).

Milwaukee should add a third notable young player with the draft choice they acquired. Milwaukee would have received a compensatory pick had they let Burnes depart in free agency — he’ll surely reject a qualifying offer — but that wouldn’t have been until 2025. Baltimore can make Burnes a QO next offseason (and will, unless he suffers a serious injury). As a revenue sharing recipient, they’d land a compensation pick after the first round in 2025 if he signs elsewhere for at least $50MM.

Ken Rosenthal of the Athletic first reported the Orioles were nearing a deal to acquire Burnes. Jon Heyman of the New York Post indicated the deal was agreed upon. ESPN’s Jeff Passan reported that Ortiz and Hall were among the pieces headed to the Brewers. Mark Feinsand of MLB.com reported the inclusion of the draft pick to complete the deal.

Images courtesy of USA Today Sports.

Blue Jays Turning Away Trade Interest In Alek Manoah, Expect Him To Be In 2024 Rotation

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The Blue Jays have heard from teams looking to buy low on right-hander Alek Manoah following a disastrous 2023 season throughout the winter, but Jon Morosi of MLB Network tweets that the Jays have been telling interested parties they expect Manoah to be in the 2024 rotation and do not plan to move him.

By now, the highs and lows of Manoah’s 2022-23 campaigns are well-documented. The right-hander finished third in American League Cy Young voting as recently as 2022, pitching to a pristine 2.24 earned run average while fanning 22.9% of his opponents against a 6.5% walk rate. He made 31 starts, totaled 196 2/3 innings, and was named to his first All-Star team that year. The 2023 season was the polar opposite; Manoah’s velocity, strikeout rate and walk rate all went in the wrong direction. His home run rate doubled. His opponents’ average exit velocity jumped by two miles per hour, while their hard-hit rate spiked from 31.5% to 44.4%.

Manoah was optioned to the minors multiple times throughout the 2023 season — a notion that would’ve been unthinkable entering the year. The right-hander underwent a slate of medical exams after being optioned for the final time, but no major injury was uncovered. He wound up finishing out the season with a grisly 5.87 ERA in just 87 1/3 frames. Manoah’s final big league start came on Aug. 10.

Throughout the offseason, Manoah’s name has popped up in various trade rumors. That’s plenty understandable, as even if the 2023 season represents a clear rock-bottom for the talented righty, he’s only a year removed from being on the opposite end of that spectrum. Manoah also just turned 26 years old in January, and he’s controllable for another four years before he can become a free agent. Even if the Jays (or a trade partner) never get him back to that peak 2022 form, there’s an appealing middle ground where Manoah could be a strong mid-rotation arm at an affordable rate for several years.

For the Blue Jays, the upside of keeping Manoah has clearly outweighed the temptation to pursue a change of scenery. That’s likely due both to belief in the pitcher himself and the offers and names discussed with other clubs in trade talks. Interested parties were undoubtedly trying to acquire Manoah at something of a discounted rate in light of last year’s struggles. The Jays, presumably, retained a lofty asking price given the affordability, remaining club control and ceiling of the pitcher.

Beyond the general difficulty of lining up on asking price in such a volatile buy-low situation, the Jays simply aren’t teeming with rotation depth. Assuming Manoah is in the starting five to begin the season, he’ll join Kevin Gausman, Jose Berrios, Chris Bassitt and Yusei Kikuchi to round out the group.

It’s a solid quintet but one with its own question marks even beyond Manoah. Berrios’ 2022 season was similar to Manoah’s 2023 campaign; in 32 starts he was tagged for an uncharacteristic 5.23 ERA with the highest home-run rate and lowest strikeout rate of his career. He bounced back in ’23 (3.65 ERA in 189 2/3 innings), but his ’22 struggles are surely still in the back of the Jays’ minds. Meanwhile, Kikuchi is something of a wild card. The 32-year-old lefty is clearly a talented arm but has had a roller-coaster MLB tenure. At his best, he’s looked like a borderline top-of-the-rotation arm, but there have been low points where he’s pitched his way out of a rotation spot entirely. Between Manoah, Berrios and Kikuchi, there’s a volatile, broad-reaching range of potential outcomes.

The depth behind that group is also somewhat lacking. Left-hander Ricky Tiedemann is one of the top pitching prospects in the sport but tossed just 44 innings during the 2023 regular season — only four of which came in Triple-A. He tacked on another 18 innings in the Arizona Fall League, but he’s lacking upper-minors experience and will be on an innings cap to some extent in 2024. Righty Yariel Rodriguez, who agreed to a four-year, $32MM deal might be an eventual rotation option for Toronto, but he didn’t pitch in 2023 outside of a brief showing in the World Baseball Classic, and he was primarily a reliever during his most recent run with the Chunichi Dragons of Japan’s Nippon Professional Baseball.

The Jays have a trio of other right-handers on the 40-man roster who could conceivably serve as depth: Mitch White, Bowden Francis and Wes Parsons. But White’s roster spot could be in jeopardy this spring after he posted a 5.50 ERA in Triple-A last season and a 7.11 ERA in 12 2/3 MLB frames. He’s out of minor league options, so he’ll need to make the Opening Day club, likely as a long reliever/swingman, or else be designated for assignment. Francis, 28 in April, posted a sparkling 1.73 ERA with Toronto last year but worked exclusively out of the bullpen in the big leagues and made only seven minor league starts. He pitched a total of 66 1/3 innings in ’23. Parsons, 31, joined the Jays on a minor league deal after a two-year run in the KBO and posted a 4.52 ERA in 17 Triple-A starts before being rocked for nine runs in four innings during his lone MLB start.

Given the shaky nature of the team’s depth and the fact that 60 percent of the current MLB rotation has struggled to an ERA north of 5.00 in one of the past two seasons, it’s understandable if the Jays want to retain as much depth as possible. Couple that with what one can imagine have been lackluster offers from teams hoping to secure a bargain acquisition of Manoah, and it becomes all the easier to see why the Jays prefer to hang onto him. Any trade situation is fluid, of course, and it takes all of one phone call or text message with the right player’s name(s) to get earnest trade talks rolling. For now, however, it seems likely to anticipate Manoah will open the season in Toronto and look to reestablish himself as a viable cog in a talented but mercurial rotation.

Orioles Confirm Agreement To Sell Control Stake Of Franchise To Group Led By David Rubenstein

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The Orioles have confirmed yesterday’s reports on a sale of the team, announcing Wednesday that a group of investors led by billionaire David Rubenstein of the Carlyle Group private equity firm has purchased the control stake of the team from the Angelos family for $1.725 billion. Notably, former control person John Angelos will remain a “major investor” in the club and will serve as a senior advisor to Rubenstein in his new role. The transaction values the Orioles franchise and assets at $1.725 billion dollars, per the team’s press release on the ownership shakeup.

“I am grateful to the Angelos family for the opportunity to join the team I have been a fan of my entire life,” Rubenstein said in a statement within today’s press release. “I look forward to working with all the Orioles owners, players and staff to build upon the incredible success the team has achieved in recent seasons. Our collective goal will be to bring a World Series Trophy back to the City of Baltimore. To the fans I say: we do it for you and can’t do it without you. Thank you for your support. Importantly, the impact of the Orioles extends far beyond the baseball diamond. The opportunity for the team to catalyze development around Camden Yards and in downtown Baltimore will provide generations of fans with lifelong memories and create additional economic opportunities for our community.”

The sale of the majority share in the Orioles is still subject to review and approval from the remaining 29 owners in Major League Baseball. A formal vote is expected to take place next week at the quarterly MLB owners meetings. Among the more recognizable names in the Rubenstein-led group are Orioles icon Cal Ripken Jr., NBA Hall of Famer Grant Hill and Michael Bloomberg. Any concerns about a potential relocation following the sale should quelled; Rubenstein is a Baltimore native who’s already voiced his desire to keep the team in Baltimore long-term, and the recent 30-year lease extension at Camden Yards transfers to new ownership as well, per Danielle Allentuck of the Baltimore Banner.

“When I took on the role of Chair and CEO of the Orioles, we had the objective of restoring the franchise to elite status in major league sports, keeping the team in Baltimore for years to come, and revitalizing our partnership group,” Angelos said in his own statement. “This relationship with David Rubenstein and his partners validates that we have not only met but exceeded our goals.”

The Angelos family has owned the Orioles franchise since Peter purchased the team for $173MM. He served as the club’s control person into his 90s but eventually ceded that post to his sons, John and Louis. In the years that followed, a contentious battle for control of the organization emerged. Louis Angelos filed a lawsuit alleging that John took steps to seize sole control of the club against his father’s wishes and that his mother, Georgia, was making it a priority to sell and possibly even relocate the team. Georgia countersued, alleging that Louis had fabricated his claims in something of a powerplay of his own. The suits were dropped in 2023, nearly one year ago to the day, with the parties settling outside of court.

Between the infighting among the Angelos family and the long-running television rights fees drama with the Nationals, the Orioles have been embroiled in litigation for years. The Angelos family owned the majority stake in the Mid-Atlantic Sports Network, which broadcasts both Orioles and Nationals games, and the two franchises have been at odds for more than a decade over unpaid rights fees to the Nationals. An arbitration panel eventually ruled that the O’s owed the Nats $105MM in fees, which the Orioles appealed. An appellate court upheld the ruling last April. Now, Jeff Barker of the Baltimore Sun reports that Rubenstein’s group is also purchasing the control stake in MASN. Whether that will have significant ramifications regarding the arrangement between the Orioles and Nationals remain unclear.

As with any ownership change, the possibility for a major departure from baseball operations norms exists under new ownership. Since John Angelos was named control person in place of his ailing father, Peter, the Orioles have essentially sat out the free-agent market entirely. General manager Mike Elias has never signed a free agent to a guaranteed multi-year deal and hasn’t committed more than Craig Kimbrel’s $13MM to any individual player. That’s been in part due to the fact that the Orioles have been mired in a rebuilding process that spanned more than four years, but even on the heels of last year’s AL East title, they’ve been surprisingly quiet (much to the chagrin of Baltimore fans).

That rebuilding effort, of course, led the Orioles to develop one of the more enviable young cores in all of baseball. Catcher Adley Rutschman has already emerged as a superstar, and young infielder Gunnar Henderson isn’t far behind. Right-hander Grayson Rodriguez and top prospects like Jackson Holliday, Jordan Westburg, Joey Ortiz, Connor Norby, Heston Kjerstad, Colton Cowser, Samuel Basallo and many more create a favorable long-term outlook.

However, even as Orioles fans celebrated the emergence of their young core after so many noncompetitive years, Angelos put a damper on matters by casting doubt on the organization’s ability to sign anyone from that bunch to long-term deals. The now-outgoing Orioles control person told the New York Times in 2022 that in order to sign players like Rutschman and Henderson to the type of extensions they could rightly seek based on market precedent, the Orioles would need to “massively” raise prices for fans. Comments like that, paired with the general inertia that has embodied previous Orioles offseasons has led to frustration among the fan base.

Whether a change in ownership will bring about aggressive levels of spending remains to be seen. It’d be unwise to expect the Orioles to act with the same level of brazen aggression as, say, the Mets in the wake of the Wilpon family’s sale to current owner Steve Cohen. At the same time, the current levels of spending is practically the lowest of bars to be cleared. The Orioles ended the 2023 season with a $66MM payroll and project to open the 2024 season with just an $81MM payroll. Felix Bautista, the Orioles’ All-Star closer who is recovering from Tommy John surgery, is the only player who’s guaranteed even a single dollar in salary beyond the 2024 campaign. He’s promised all of $1MM for the 2025 campaign.

Time will tell the extent to which the Orioles’ recent market inactivity was colored by ongoing efforts to orchestrate this sale and whether Rubenstein’s group will be more willing to spend than the team has been under the watch of John Angelos. For the time being, the pending sale looms as a beacon of hope for an Orioles fan base that has become increasingly frustrated with the team’s ostensible unwillingness to supplement one of the brightest young cores of talent in the sport.

Joe Smith Announces Retirement

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Veteran reliever Joe Smith announced his retirement on Wednesday, calling it a career after spending parts of 15 seasons in the Major Leagues. Via his representatives at Excel Sports Management, Smith issued a lengthy statement thanking the Mets, Guardians, Angels, Cubs, Blue Jays, Astros, Mariners and Twins organizations in addition to his coaches, teammates, trainers and family for supporting him throughout his career.

Selected by the Mets in the third round of the 2006 draft, the now-39-year-old Smith was in the majors less than one year later and practically never looked back. That’s in large part thanks to the fact that Smith established himself as a quality big league reliever right out of the gate, pitching 44 1/3 innings of 3.45 ERA ball with a 22% strikeout rate and 10.1% walk rate as a rookie.

That set off a remarkable run of 13 straight seasons with an ERA of 3.83 or better for Smith — including five years with a sub-3.00 mark and two with a sub-2.00. While the sidearming Smith was rarely thrust into the ninth-inning spotlight (30 career saves), he’s one of the most consistent and prolific setup men in the game’s history. Since holds began being tracked, Smith’s 228 rank him in the top five all-time. His blend of durability and consistently strong performance kept him in leverage spots for more than a decade.

Smith wasn’t on the 2016 Cubs’ World Series roster after missing most of the final month of the season due to injury, but he did take home a ring that year and pitched in parts of five other postseasons (including in 2019, when he pitched in the World Series as the Astros finished runner-up to the Nationals). As was the case during his regular-season performances, he remained quite strong in October. In 14 career playoff innings, Smith yielded only four earned runs on eight hits and three walks with 13 strikeouts (2.57 ERA).

All told, Smith will walk away from the game with 762 1/3 innings of 3.14 ERA ball under his belt. In his career, he pitched for eight MLB clubs, notching a 55-34 record with 30 saves, 228 holds, a 21.1% strikeout rate and an 8.1% walk rate. Smith didn’t post an ERA over 4.00 until his age-37 season in 2021, and in 15 MLB seasons he never had a single year where he ERA climbed to 5.00 or higher. He picked up more than 13 years of Major League service time and earned more than $51MM in salary over the course of a quietly excellent career. Best wishes to Smith and his family in whatever lies in store for his post-playing days.

Blue Jays Sign Justin Turner

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Jan. 31: Shi Davidi of Sportsnet reports the breakdown of Turner’s incentive package. He’ll unlock $125K bonuses for reaching 500, 525, 550 and 575 plate appearances, plus another $250K for reaching each of 600, 625 and 650 plate appearances. Turner also secures a $150K bonus for reaching 120 days on the active roster and another $100K for spending 150 days on the active roster.

Jan. 30: The Blue Jays will have a new designated hitter for the 2024 season, announcing they’ve signed free agent Justin Turner to a one-year contract. It is reportedly a $13MM deal with The Vayner Sports client, who can earn an additional $1.5MM based on both roster bonuses and performance incentives, taking his deal to a maximum of $14.5MM.

Turner turned 39 years old in November but certainly wasn’t showing any signs of his age in 2023, when he slashed .276/.345/.455 with 23 home runs, 31 doubles, an 8.1% walk rate and a 17.6% strikeout rate in 146 games and 626 plate appearances with the Red Sox.

By measure of wRC+, Turner was about 14% better than league-average at the plate — his incredible tenth consecutive season being at least 14% above par with the bat. He was one of the top remaining corner infield and designated hitter options and will install a “professional hitter” into the Toronto lineup — one who is generally revered for his leadership and clubhouse presence as well.

The consistency Turner brings to the plate is rather remarkable. He hasn’t batted lower than .275, posted an OBP under .339, slugged less than .438 or struck out in more than 18% of his plate appearances in any of the past ten seasons since establishing himself as a regular with the Dodgers in 2014. Overall, he’s a .293/.371/.486 hitter in that time. He’s averaged 24 home runs and 35 doubles per 162 games played over that decade-long span.

Turner’s contract with the Red Sox was a two-year, $22.7MM contract, the second season of which was a player option. He took home an $8.3MM salary in 2023 and also received a $6.7MM buyout on the option when he turned it down to return to the open market. Turner is guaranteed less on this new contract than he was a year ago, although with incentives he’ll be able to nearly match the $15MM he ultimately received for his lone year in Boston. And, given that the player option was a net $7.7MM call for him, he still clearly came out ahead in his decision to decline his player option.

With the Jays, Turner figures to serve as their primary designated hitter but can also split time at the hot corner with fellow free agent signee Isiah Kiner-Falefa (or another yet-to-be-made acquisition). He’s also logged 527 career innings at first base, including 289 last year in Boston, making him a viable option to spell Vladimir Guerrero Jr. when he needs a breather as well.

If there’s one drawback to the match between the two parties, from the team’s vantage point, it’s that Turner adds another right-handed bat to a lineup that already skews heavily toward that side of the plate. He’s effectively replacing the left-handed-hitting Brandon Belt, who notably remains unsigned and had a strong year at the plate for the Jays in 2023 in a heavily platooned role.

As it stands, left fielder Daulton Varsho, center fielder Kevin Kiermaier and infielder Cavan Biggio are the only lefties projected in the Toronto lineup. No one from that group is an especially formidable lefty presence, and all are best served in a platoon arrangement. Turner has slightly better career numbers against righties than lefties, which helps to mitigate some of the concern, but the Jays could still struggle against premium right-handed pitchers at times, given their lack of balance in the lineup.

Thus far, Turner marks the biggest upgrade to the Toronto lineup of the offseason. The Jays made a spirited run at Shohei Ohtani and also met with Yoshinobu Yamamoto, but both players wound up signing with the Dodgers. The Jays were also said to have strong interest in lefty-swinging Joc Pederson before he inked a comparable deal to Turner’s with the D-backs.

The Jays have been tied to a number of bat-first players over the past month, talking to representatives for free agent sluggers like J.D. Martinez, Jorge Soler, Rhys Hoskins and Pederson. Their interest to Turner dates back to at least mid-December, and now that it’s manifested in a deal, the Jays are presumably out of the running for yet-unsigned DH options like Martinez and Soler. Turner joins Kiner-Falefa, Kiermaier and now-former NPB righty-hander Yariel Rodriguez as notable free agent pickups for the Jays so far in the 2023-24 offseason.

The addition of Turner should push the Blue Jays firmly into luxury tax territory. Toronto had a bottom-line payroll of $228MM before agreeing to terms with Turner, per Roster Resource, and the Jays were already slightly north of $237MM luxury barrier. Turner will move both numbers forward by $13MM. Since the Jays are a second-time payor of the tax, their penalty will be rather light: a simple 30% tax on the first $20MM by which they exceed the threshold and another 42% tax for the next $20MM, if further additions are forthcoming.

With regard to the Turner signing, they’ll end up paying $3.9MM in luxury penalties, which clearly wasn’t a significant deterrent for them. The $240MM Opening Day payroll for which the Jays are now projected stands as a franchise-record by a magnitude of $30MM — topping last the $210MM high-water mark previously established just last year.

Looking ahead, it still seems possible there are further moves to be made for the Jays, who currently project to divide playing time at second base and third base among Biggio, Kiner-Falefa, Davis Schneider and Santiago Espinal. Schneider, in particular, had an intriguing 2023 debut when he hit .276/.404/.603 — but that was a tiny sample of 141 plate appearances and came with a .369 BABIP in addition to a 30.5% strikeout rate. Some regression should surely be expected. Kiner-Falefa is best known for his defensive versatility and is a better utility option than everyday player. Biggio had a solid 2023 showing at the dish but has never come close to replicating his 2019-20 numbers. Espinal is coming off a career-worst .248/.310/.335 performance.

In the rotation, Toronto is still facing some uncertainty at the back end of the group. Kevin Gausman, Chris Bassitt and a resurgent Jose Berrios form a strong top three, but Yusei Kikuchi has lacked consistency on a year-to-year basis and Alek Manoah struggled through a catastrophic season on the mound. The aforementioned Rodriguez could eventually be a rotation option, but that’s more likely in 2025, as he’ll be on a strict innings count this season. Top prospect Ricky Tiedemann could debut in 2024 as well but thus far has just four innings above the Double-A level.

The Blue Jays have been tied to several high-profile and still-unsigned names — Cody Bellinger, Blake Snell and Matt Chapman among them. Re-signing Chapman is a cleaner fit from a roster construction standpoint, as Toronto has Varsho, Kiermaier and George Springer across the outfield and now Turner at designated hitter, making a rotation including the DH spot more difficult. Adding another bat and/or rotation piece would help to lessen the sting of missing out on top targets earlier in the winter, though it remains unclear how much more ownership is willing to spend after already soaring past the franchise’s prior spending levels.

Jon Morosi of MLB Network first reported that the agreement and the terms.

Dodgers Sign James Paxton

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Jan. 31: The guarantee on Paxton’s deal is actually just $7MM, reports Ken Rosenthal of The Athletic. That comes in the form of the previously reported $3MM signing bonus and a $4MM salary. Additionally, Paxton will receive a $2MM bonus for being on the roster for either (but not both) the roster for the Dodgers’ season opener in South Korea against the Padres on March 20 or their domestic opener against the Cardinals on March 28. If not, he’d earn a $1MM bonus if added to the roster before April 15.

Paxton will also earn a $600K bonus for making his sixth, eighth, tenth, 12th and 16th starts of the season, plus a $1MM bonus for reaching 18 starts. In all, there’s an additional $6MM available in incentives. Essentially, if he’s healthy enough for to make the Opening Day roster and make 18 starts, he’ll earn $13MM on the one-year arrangement.

Jan. 23: An active offseason continues, as the Dodgers announced they have signed left-hander James Paxton to a one-year deal. The Boras Corporation client is reportedly guaranteed $11MM, taking the form of a $3MM signing bonus and an $8MM salary. He’d also receive a $1MM roster bonus if he’s healthy enough to be active on Opening Day (or $500K if he starts the year on the injured list but returns by April 15).

The deal also contains up to $1MM in performance bonuses. He’d lock in an extra $250K for making 16 and 18 starts apiece and would max out the deal with another $500K for reaching 20 starts. Los Angeles has yet to formally announce the contract, but they already have a vacancy on the 40-man roster.

Los Angeles has been MLB’s most aggressive team. While they’ve committed upwards of a billion dollars in free agency, the rotation depth still stands as a bit of a question mark. Shohei Ohtani won’t pitch in 2024 as he works back from elbow surgery. The Dodgers signed Yoshinobu Yamamoto and acquired Tyler Glasnow to join Walker Buehler  and Bobby Miller atop the starting staff.

There’s huge upside with that quartet, but it’s also a group that carries some risk. Excellent as Yamamoto has been in Japan, he has yet to pitch in the majors. Glasnow’s career high in innings at the MLB level, established last season, is only 120 frames. Buehler missed all of last season recovering from his second Tommy John surgery. Miller had a very good rookie season but only has 22 MLB starts to his name.

L.A. had a few notable departures from the rotation. Julio Urías is a free agent and unlikely to return as MLB investigates domestic violence allegations against him. Clayton Kershaw is still unsigned. While the Dodgers would surely welcome him back, he wouldn’t be an option until at least midseason as he rehabs from shoulder surgery. Ryan Pepiot was dealt to Tampa Bay in the Glasnow deal.

Tony Gonsolin could miss all of next season after undergoing his own TJS procedure in late August. Dustin May will be sidelined into the season after a flexor tendon surgery in early July. With both pitchers starting the season on the injured list, Los Angeles may have had to turn the fifth starter role to one of Emmet Sheehan, Michael Grove, Ryan Yarbrough or Gavin Stone.

Should they finalize a deal with Paxton, he’d take the final spot in the Opening Day staff. He’s certainly not a bankable source of innings either. The 35-year-old has battled myriad injuries throughout his career, particularly over the last four years. He was limited to five starts during the shortened 2020 season. His elbow gave out during his first start of the ’21 campaign, necessitating Tommy John surgery. His efforts to make a comeback late in the ’22 season were derailed when he tore his lat on a minor league rehab stint.

A right hamstring strain forced the 6’4″ southpaw to open last year on the IL as well. He finally made it back on the mound in the second week of May. Despite the long layoff, Paxton brandished the 95 MPH fastball he’d owned before the surgery. For a while, that was translating into excellent results. The Canadian hurler worked to a 2.73 ERA while striking out more than 29% of opposing hitters in 56 innings through the All-Star Break.

He couldn’t maintain that form. Paxton allowed nearly seven earned runs per nine over 40 innings after the Midsummer Classic. His strikeouts plummeted to a modest 19.4% clip, while his walks jumped a few percentage points relative to the first half. Right knee inflammation sent him back to the IL in early September and ended his season a few weeks early. He finished the year with a 4.50 ERA in 96 innings covering 19 starts. His 24.6% strikeout rate was slightly above par, while he walked an average 8% of batters faced.

Given the volatility associated with the Dodgers’ collection of in-house arms, there’s an argument they should’ve pursued a more stable source of volume innings. That’s generally not how they’ve preferred to construct pitching staffs, however. The L.A. front office has shown a willingness to roll the dice on upside plays while accepting health risks. Paxton would be another acquisition of that ilk.

Of course, the Dodgers have the freedom to place those kinds of bets thanks to their spending capacity. Roster Resource projects the organization’s luxury tax commitments for the upcoming season at a staggering $301MM. Signing Paxton would push that number around $313MM, moving ahead of the Yankees and alongside the Mets for the highest payroll in the sport. That comes with a hefty tax bill.

The Dodgers are in the final tier of luxury penalization and have exceeded the threshold in each of the last two years. As a result, they’re taxed at a 110% rate on any spending at this point. Paxton’s deal would come with a $13.2MM fee, bringing their total expenditure to $25.2MM for one year of his services.

That’s a mark that few teams, if any, would come close to matching. Yet it’s the latest reflection of their all-in approach. Paxton would join Ohtani, Yamamoto, Glasnow, Teoscar Hernández, Manuel Margot and returnees Jason Heyward and Joe Kelly as notable offseason pickups as the Dodgers push for an 11th NL West title in the last 12 years.

Jon Heyman of the New York Post first reported the Dodgers and Paxton were working on an agreement. Alden González of ESPN reported the approximate $11MM guarantee. Fabian Ardaya of the Athletic reported the presence of performance bonuses. Heyman was first to confirm the deal was done and the presence of the Opening Day roster bonus, while The Associated Press specified the performance bonus terms and the contract breakdown.

Image courtesy of USA Today Sports.

Reports: Angelos Family Agrees To Sell Orioles

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The Angelos family plans to sell the Orioles to a group led by two private equity billionaires, David Rubenstein of the Carlyle Group and Mike Arougheti of Ares Management Corp., as first reported by Sportico and John Ourand of Puck News. Andy Kostka, Pamela Wood and Danielle Allentuck of the Baltimore Banner report that various others will have smaller ownership roles — including franchise icon Cal Ripken Jr.

Neither the Orioles nor MLB have yet commented on the news. The deal cannot be made official without league approval. Longtime O’s beat reporter Dan Connolly tweets that the owners will discuss the sale agreement at a previously scheduled owners meeting next week.

It was reported back in December that Rubenstein, a Baltimore native, was in talks to purchase the club. Rubenstein will eventually become the franchise’s “control person” assuming the deal is approved. Ourand reports the sale price will be $1.725 billion, about 10 times the $173MM for which the Angelos family purchased it in 1993.

The franchise will not be sold in its entirety right away. According to Ourand, the Rubenstein group will initially acquire roughly 40% of the ownership stake. The remainder of the Angelos’ family share will be transferred once longtime owner Peter Angelos, now 94, passes away. Previous reports have indicated the family would incur significant capital gains taxes if they sell the franchise in its entirety before Peter Angelos’ death.

It could be a franchise-altering piece of news for the Orioles and their fans. The Angelos family has owned the club since 1993. It was at that time that Peter Angelos was the principal investor of a group that bought the O’s. He collapsed in 2017 due to the failure of his aortic valve, leading his wife Georgia and sons John and Lou to take on more sizeable roles.

Reports emerged in June of 2022, highlighting infighting between the family members about control of the franchise. The league evidently approved John Angelos as the club’s “control person” in 2020, but multiple lawsuits between the family members were filed. The reporting surrounding those legal disputes revealed that Georgia hired Goldman Sachs to explore a possible sale. The various family lawsuits were dropped about a year ago as part of a reported settlement. “I would say that there’s not a plan to change the principal ownership or the managing partnership and there would be no reason to,” John said in February of last year.

As that drama has been playing out behind the scenes, there has also been a lot of public uncertainty surrounding the organization. Their lease agreement with the State of Maryland for Camden Yards was set to expire at the end of 2023. John Angelos was reportedly attempting to leverage the negotiations for a new lease to acquire public land. The idea seemed to be to transform the area based on the example set by the Braves with The Battery and Truist Park, allowing the O’s to develop a mixed-use area including various retail and commercial spaces.

A new lease agreement was eventually approved in mid-December, just before the previous deal was set to expire. As part of that deal, the O’s are committed to Camden Yards for the next 15 years, which can be expanded to 30 years if a new development plan is approved in the next four years. The discussions between Rubenstein and the Angelos family briefly held up government approval of the new lease. At the time, John Angelos reportedly assured Maryland governor Wes Moore there were no plans to sell a majority share of the franchise. That now seems set to change.

On top of the stadium situation, the Orioles and Nationals have an ongoing dispute concerning the Mid-Atlantic Sports Network. The two clubs share ownership of the network but with the O’s in the majority, presently around 76% and dropping to 67% by 2032. Those details were part of the agreement between the O’s and MLB to facilitate the relocation of the Expos from Montreal to Washington and therefore into the Orioles’ territorial range. The two clubs have been battling each other over the rights free related to MASN for many years.

Jeff Barker of the Baltimore Sun reports that Rubenstein will also acquire the O’s share in MASN. It’s not yet clear if there’ll be any change in the relationship between the Orioles and the Nationals.

Then there’s the on-field product, which could perhaps be related to the ownership situation. The club has been rebuilding for much of the period after Peter Angelos’ health issues, but they quite clearly emerged from that rebuild in recent seasons. They posted terrible results from 2018 to 2021 but stockpiled young talent in the process. As their young players started graduating to the majors, they managed to go 83-79 in 2022. They followed that up with a 101-win campaign last year, winning the American League East.

Despite those better results of late, the club has made almost no moves that commit long-term money or give up their young talent in order to bolster the current roster. Their stacked farm system has led to plenty of speculation about a blockbuster deal involving someone like Dylan Cease, but nothing has materialized. Meanwhile, their free agent spending this winter has been limited to a one-year deal for reliever Craig Kimbrel.

Taken all together, there are plenty of questions to be answered about how the franchise will proceed. While many O’s fans will be happy to see the Angelos family depart, it’s unknown how different the new regime will be. If the deal is completed, a picture of the future for the franchise will gradually come into focus. As it does, it could have ramifications for the team and others such as the Nats, as well as the city of Baltimore and the State of Maryland.

Rubenstein, 74, is the co-founder and co-chairman of the Carlyle Group, a private equity company. He was born in Baltimore and Forbes estimates his net worth as $3.7 billion.

Mets Re-Sign Adam Ottavino

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The Mets announced the re-signing of veteran reliever Adam Ottavino to a one-year contract on Tuesday evening. A client of WME Baseball, Ottavino is reportedly guaranteed $4.5MM.

The arrangement will see Ottavino return to Queens for a third consecutive season just months after the right-hander declined a $6.75MM player option with the club. Earlier this week, Ottavino discussed his decision to decline that option during an appearance on the Foul Territory podcast. The 38-year-old veteran made clear that while he loved being part of the Mets organization, he had concerns at the time about the club’s future given their at-the-time uncertain managerial situation and rumors the club planned to take a step back during the 2024 campaign. That sort of situation wasn’t appealing to Ottavino, as he noted that he hopes to win a World Series before his career comes to a close.

Since Ottavino’s decision to test the open market, the club has stayed active at the lower levels of free agency and on the trade market. The club shored up its hitting corps by bringing in outfielders Harrison Bader and Tyrone Taylor alongside infielder Joey Wendle, while the bullpen was bolstered by the addition of Jorge Lopez. The most impactful changes can be found in the starting staff, where the Mets have acquired Sean Manaea, Adrian Houser, and Luis Severino to join incumbent arms Kodai Senga and Jose Quintana as members of the rotation mix.

Those additions, along with the hiring of former Yankees bench coach Carlos Mendoza as manager, seem to have given Ottavino the confidence in New York’s chances in 2024 necessary for him to re-sign with the club. While the player option declined by the right-hander back in November came with a nominally larger guarantee, it’s important to note that Ottavino previously told the New York Post’s Joel Sherman that $4MM of his $6.75MM salary would have been deferred. This deal includes no such deferred money, meaning that today’s deal actually improves upon the previously-declined option in terms of present value.

The veteran figures to provide a stabilizing force in the Mets’ bullpen for the 2024 campaign behind star closer Edwin Diaz, where he’ll likely share set-up duties with the likes of Brooks Raley and Drew Smith. It’s a role Ottavino is familiar with, as the righty has notched 179 holds throughout his 13-year tenure in the majors on top of his 45 career saves. Since establishing himself as a fixture of the Rockies’ bullpen back in 2012, Ottavino has compiled a strong 3.25 ERA and 3.52 FIP across 659 appearances with Colorado, Boston, and both New York clubs. By measure of ERA+, the veteran has never posted a campaign below league average during a 162-game season, with the lone blemish on that resume being 18 1/3 innings of 5.89 ERA ball during the shortened 2020 campaign.

That kind of stable production figures to be a major boost for the Mets’ relief corps, which struggled badly down the stretch after parting ways with closer David Robertson at the trade deadline last summer. Following the deadline, Mets relievers struggled to a 5.19 ERA that was bottom-six in the majors during that timeframe. Ottavino, by contrast, was a bright spot in the club’s bullpen down the stretch with a 2.55 ERA and a 28.9% strikeout rate in 19 appearances during which he picked up six saves. Given that strong performance, it’s hardly a surprise that the club landed upon a reunion with the veteran as a resolution to their search for additional bullpen help. Going forward, it’s possible the club could look to make an addition at third base or DH, though president of baseball operations David Stearns has made clear that the club doesn’t want to take opportunities away from young players like Brett Baty and Mark Vientos with external additions.

The deal makes Ottavino the latest bullpen arm to come off the market in recent weeks. The right-hander joins the likes of David Robertson, Robert Stephenson, Aroldis Chapman, Hector Neris, and Matt Moore in signing a new deal shortly relief ace Josh Hader recently agreed to a five-year pact with the Astros earlier this month. Phil Maton, Ryne Stanek, and Ryan Brasier are among the best options remaining for clubs looking to strengthen their relief corps.

Joel Sherman of the New York Post first reported the Mets and Ottavino were in agreement on a one-year, $4.5MM contract. Image courtesy of USA Today Sports.

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