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2020 Vesting Options Update

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With over two-thirds of the 2019 season in the books, let’s check in to see how seven players are progressing towards possible vesting options in their contracts.  For those unfamiliar with the term, a vesting option is an agreed-upon threshold within a player’s contract (usually based on health and/or playing time) that, if achieved, allows the player to alter the terms of the contract for the next season, and perhaps beyond in some cases.

Some vesting options aren’t reported, so it could be that more players beyond this septet could also be playing towards gaining more guaranteed money or contractual freedom for the 2020 season.  For now, let’s examine just these seven names…

Yonder Alonso, Rockies: Under the terms of the two-year, $16MM deal Alonso signed with the Indians in the 2017-18 offseason, his $9MM club option (with a $1MM buyout) for 2020 becomes guaranteed if the first baseman first passes a physical, and then hit plate-appearance benchmarks.  Unfortunately for Alonso, he has only 287 PA this season, so he’s on pace to fall well short of reaching either 550 PA in 2019 or 1100 total PA in 2018-19 — either of which would’ve caused his option to vest.

Andrew Cashner, Red Sox: Having struggled through six starts since coming to Boston in a trade from the Orioles, the Sox have a legitimate performance-related reason for moving Cashner out of their rotation.  There would also be a financial motive involved, as Cashner’s $10MM club option for 2020 would become guaranteed if he amasses 340 total innings in 2018-19.  After today’s abbreviated outing against the Angels, Cashner now has 279 2/3 IP over the last two seasons, putting him within distant range of causing his option to vest if he keeps receiving starts.  (Incidentally, the option could also vest into a player option if Cashner hits the 360-inning threshold.)

Sean Doolittle, Nationals: The closer finished his league-high 47th game of the season today, giving him 82 games finished since the start of the 2018 season.  Should Doolittle reach 100 games finished, the Nationals’ $6.5MM club option ($500K buyout) on Doolittle for 2020 would vest into a mutual option, giving him the opportunity to opt out of his contract and enter into free agency.  This is definitely one to watch down the stretch, since with the Nats in a postseason race and the rest of their bullpen struggling, D.C. won’t hesitate to use their closer for every save situation possible.  Manager Davey Martinez has used Doolittle in a traditional late-game role, so shifting him into high-leverage situations outside of the ninth inning to cut down on his games-finished numbers would be a risky (and controversial) tactic, to say the least.

Chris Iannetta, Rockies: With 110 starts at catcher since the beginning of the 2018 season, Iannetta won’t reach the 220 catching starts he needed to convert the Rockies’ $4.25MM club option on his services for 2020 into a guarantee.

Wade LeBlanc, Mariners: The unique extension signed by LeBlanc in July 2018 carried three $5MM club option years for 2020-22 that can all vest into guarantees.  That 2020 option turns into guaranteed money if LeBlanc throws 160 innings in 2019 and doesn’t have a left arm injury at season’s end.  A month-long IL stint due to an oblique strain earlier this season almost certainly ended LeBlanc’s chance at the 160-inning plateau, as he has only 98 IP thus far.  While he’s still eating a good share of innings as a “bulk pitcher” behind an opener in most outings, it seems likely that LeBlanc won’t reach his vesting threshold.

Brandon Morrow, Cubs: Morrow’s two-year, $21MM deal carried a 2020 vesting option worth $12MM, or a $3MM buyout.  It wasn’t actually known what the terms were of this option, though since injuries have kept Morrow from pitching since July 15, 2018, it’s safe to assume the option won’t vest, and Morrow will be a free agent this winter.

Oliver Perez, Indians: The veteran southpaw appeared in his 49th game of the season today, so barring injury, he’s a lock to hit the 55 appearances required to guarantee his $2.75MM club option for 2020.  He also seems like a pretty safe bet to lock in even more money, as that option will be guaranteed at $3MM if Perez pitches in 60 games.  The Tribe likely won’t at all mind having Perez back for another season, as the reliever continues to dominate left-handed batters.

Indians Re-Sign Oliver Perez

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The Indians announced Friday that they’ve re-signed left-handed reliever Oliver Perez. It’s a one-year contract with a vesting option for the 2020 season for the Scott Boras client. Paul Hoynes of the Cleveland Plain Dealer reports that Perez will be guaranteed $2.5MM (Twitter link). Perez has a $2.75MM club option that will automatically vest if he reaches 55 games pitched, per Fancred’s Jon Heyman (Twitter link). The option can also vest at $3MM if he appears in 60 games.

Oliver Perez | David Richard-USA TODAY Sports

Perez, 37, quietly enjoyed a surprising career renaissance with the Indians last season, working to a sparkling 1.39 ERA with 12.0 K/9, 1.9 BB/9, 0.28 HR/9 and a 41.2 percent ground-ball rate in 32 1/3 innings of work. Perez’s workload in the Majors was limited by the fact that he opened the season with the Yankees’ Triple-A affiliate after agreeing to a minor league deal in hopes of rebuilding his stock. The opportunity to do so didn’t present itself with the Yankees, but Perez latched on with Cleveland on a big league deal in early June and firmly put himself back on the map as a viable bullpen option over the season’s final four months.

While one might think that Perez will serve as a left-handed specialist, as he has in the past, his dominance in 2018 should earn him opportunities regardless of opponent. Righties and lefties alike were utterly befuddled by Perez last year; he held left-handed opponents to a .194/.215/.274 slash, which is excellent but still pales in comparison to the comical .104/.218/.104 slash to which he limited righties.

It’s been a quiet offseason for Cleveland, with Perez somewhat incredibly representing their first Major League free-agent signing of the offseason. The Indians have been more active on the trade front, though they’ve dealt away more MLB talent (Yan Gomes, Yonder Alonso, Edwin Encarnacion) than they’ve acquired while also losing free agents Michael Brantley (to the Astros) and Cody Allen (to the Angels).

That makes for a puzzling offseason for a club that entered the winter widely expected to run away with its fourth straight division title in 2019. Cleveland may still be the favorites, but improvements by the Twins and White Sox alike will give the Tribe a tougher time in securing a division title — especially considering the lack of improvement this winter. Payroll issues, however, have been said to be a very real limitation in Cleveland after a franchise-record figure in 2018, and it doesn’t seem as if the team is poised to make any notable expenditures between now and Opening Day. All that said, if Perez is able to remotely approximate last season’s excellence, he’ll help to solidify a bullpen that was in dire need of augmentation.

Relief Market Notes: Kimbrel, Brach, Axford

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With Adam Ottavino leaving the board today, only one of the top nine relievers on MLBTR’s top 50 free agent list — the top member of that group, of course — remains unsigned. That seems to set the stage for the next tier of the relief market to kick into action. Cody Allen, Bud Norris, and Brad Brach all earned placements on our ranking but remain unsigned. Other still-unsigned veteran pen arms warranted honorable mention status: Justin Wilson, Ryan Madson, Oliver Perez, Adam Warren, and Tony Sipp. I recently broke down those and other names that are still available.

Here’s the latest on the relief market:

  • The Red Sox are continuing to tamp down expectations of a move to add a closer. As Chris Cotillo of MassLive.com writes, president of baseball operations Dave Dombrowski referred to free agent closer Craig Kimbrel’s Boston tenure in the past tense in comments today. He also suggested the team feels comfortable with its existing options to handle the ninth inning, naming Matt Barnes, Ryan Brasier, Tyler Thornburg, and Steven Wright as possibilities. Needless to say, that’s an interesting foursome for the defending World Series champs to propose as a slate of Kimbrel successor candidates. If there’s still a chance of a reunion with the all-time great reliever, Dombrowski didn’t hint at it. “Sometimes, you have to evaluate where you’re going to spend your dollars,” he said. “We decided to keep back the rest of the core of the club. We like our team a great deal and we think some of the guys internally can do the job. Can we get better? Perhaps. But we’ll see what takes place.”
  • With no future commitments to speak of and a path to contention, the Twins seem to be a team to watch on the market. If nothing else, the club figures to bolster its pitching staff. The aforementioned Brad Brach is among the possible targets, according to LaVelle E. Neal III of the Star Tribune (Twitter link). The Minnesota front office has certainly shown an inclination to limit its risks in free agency, and it stands to reason that Brach will be available for a lesser and shorter commitment than many of the hurlers that have gone off the board already. The 32-year-old had something of a messy 2018 season after a string of productive campaigns, which could make him a nice value proposition.
  • Veteran reliever John Axford is making no secret of his desire to return to the Blue Jays for the coming season, as Ben Nicholson-Smith of Sportsnet.ca writes. With his family rooted in Toronto, the Canadian hurler says it’s where he’d like to be. Axford’s pitch is that he’d be a good mentor for a young team — and, perhaps, will again turn into a summer trade asset. There’s certainly an argument to be made that Axford would be a good fit, particularly if he’s again willing to take a minor-league deal. As Nicholson-Smith notes, Axford is delivering plenty of heat with his fastball, and the Jays still appear in need of some pitching depth.

Quick Hits: Perez, Luzardo, D’Backs

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A few items from around the baseball world as we head into the new week…

  • “There is interest on both sides for a reunion” between the Indians and left-hander Oliver Perez, Paul Hoynes of the Cleveland Plain Dealer reports, though Hoynes doesn’t expect a deal (if any) to happen for at least a month.  Perez is one of many veteran relievers who may be somewhat stuck in limbo until later in the offseason as teams try to wait out the market, though the southpaw figures to draw another Major League contract based on his strong performance in 2018.  After spending Spring Training and the first two months of the season on minors contracts with the Reds and Yankees, Perez landed in Cleveland and posted a 1.39 ERA, 6.14 K/BB rate and an 11.97 K/9 over 32 1/3 innings, posting dominant numbers against both left-handed and right-handed batters.  Even expecting some regression, Perez at worst looks like he could be a LOOGY type.  Outside of closer Brad Hand, Tyler Olson is the only other left-handed reliever in the Tribe’s pen, so there’s certainly a case for Perez to return.
  • Left-handed pitching prospect Jesus Luzardo is drawing raves from both inside and outside the Athletics organization, the San Francisco Chronicle’s Susan Slusser writes, leading to increased speculation that he could begin the season on Oakland’s Major League roster.  The 21-year-old Luzardo jumped from high A-ball to Triple-A in 2018, posting a combined 2.88 ERA, 10.6 K/9, and 4.3 K/BB rate over 109 1/3 total innings.  Those numbers did include a 7.31 ERA over 16 Triple-A frames, however, and two rival scouts felt Luzardo needed a bit more minor league seasoning.  (Left unsaid were any service time considerations the A’s might have about gaining an extra year of team control over the top prospect.)  On the other hand, Luzardo’s widely-praised poise and makeup makes him seem like a good candidate to at least mentally handle the jump to the big leagues, and his talent could also be too much to ignore.  “I don’t see any way he can’t break [camp] with us,” special assistant Grady Fuson said, also favorably comparing Luzardo to several past Athletics arms.  “He’s one of the best things to come along here in a while.  If you take our own history, he has better stuff than [Mark] Mulder. He’s got better heat than [Barry] Zito. You could kind of compare him to Gio Gonzalez at the same point, but with much, much better command.”
  • With the Diamondbacks mired in a disappointing season back in August 2016, the Dave Stewart-led front office proposed a five-year rebuilding plan for the team, the Athletic’s Zach Buchanan reports (subscription required).  Largely compiled by former assistant GM Bryan Minniti, two of the plan’s main components involved trading Paul Goldschmidt and exploring an extension with shortstop Jean Segura, which created an immediate contrast to what the D’Backs actually did when Stewart was replaced by current GM Mike Hazen — Segura was the one dealt as part of a noteworthy trade with the Mariners, while Goldschmidt was kept in the fold for two more seasons, leading the Snakes to a postseason berth in 2017.  The piece is well worth a full read for a look at this potential alternate history of Arizona baseball, as Buchanan weighs the pros and cons of whether it would’ve been wiser for the D’Backs to begin a rebuild then as opposed to the semi-retooling that the club has undergone this offseason.  Of course, as one source mentioned to Buchanan, Stewart might not have been the best GM to entrust with a rebuild, given how his front office was often criticized for its approach to acquiring and evaluating minor league talent.

New York Notes: Yanks’ Infield, Gray, Kluber, Bauer, Mets

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With shortstop Didi Gregorius set to miss a large chunk of next season, the Yankees are reportedly in the market for the best infielder available, free agent Manny Machado. But in the event the team loses out on Machado, general manager Brian Cashman is casting a wide net in his search for infield help. “I’ve talked to [agent] Danny Lozano about Manny, I’ve talked to the agents for Freddy Galvis. I’ve talked to everybody, from high end to low end,” Cashman said (via Bryan Hoch of MLB.com). “This marketplace is deep on second basemen. I have a shortstop that we’re playing at second in Gleyber Torres, so how does this play out?” As Cashman implied, the Yankees could easily slide Torres to short to cover for Gregorius’ loss. In doing so, they’d perhaps be able to add one of the many veteran second basemen available in free agency, though no one from that group would move the needle nearly as much as Machado.

More from the Big Apple…

  • The Mets have picked up standout relievers Edwin Diaz and Jeurys Familia this offseason, but given the struggles of their bullpen in 2018, they could still use more late-game help – particularly from the left side. However, after the Mets agreed to a deal with Familia on Thursday, GM Brodie Van Wagenen “downplayed” the possibility of the club adding a high-profile southpaw, Mike Puma of the New York Post writes. It seems the Mets won’t be the next team for either Zach Britton or Andrew Miller, then, but Anthony DiComo of MLB.com points to Tony Sipp and familiar faces Jerry Blevins and Oliver Perez among potential targets for the club.
  • While the Yankees have now marketed Sonny Gray for quite some time, the club is still sifting through offers. “A bunch” of rivals remain interested, per AGM Michael Fishman, who tells Hoch (Twitter link) that some possible deal scenarios would involve major-league assets coming back in return. New York’s reportedly seeking “high-end” MLB talent for Gray, despite his subpar performance in 2018.
  • There’s no room anymore for Gray in New York, yet the Yankees could still pick up another starter this winter to join an already crowded staff that includes Luis Severino, James Paxton, J.A. Happ, Masahiro Tanaka and CC Sabathia. With that said “it sounds like there’s little optimism” the Yankees will acquire Corey Kluber or Trevor Bauer from the Indians, Marc Carig of The Athletic tweets. Either Kluber or Bauer would bring back a haul in return, and with a farm system that has taken some major hits via trades and prospect graduations in the past year, it doesn’t appear the Yankees will emerge from the offseason with either righty. Speculatively speaking, Yankees third baseman Miguel Andujar would make sense for the Indians after the latter traded Yandy Diaz on Thursday. However, while the Yankees are reportedly “open” to moving Andujar, giving him up would create another hole in their infield at the cost of improving a rotation which already has at least five viable options.

Indians Sign Oliver Perez, Designate Jeff Beliveau

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The Indians search for bullpen help continues, as Jordan Bastian of MLB.com reports that the club has signed lefty Oliver Perez to a major league deal. The club has designated fellow left-hander Jeff Beliveau for assignment in a corresponding move.

The Yankees released Perez from his minors contract just yesterday; as MLBTR’s Jeff Todd pointed out at that time, he’d received a June 1st opt-out date in his contract with the club due to his status as an Article XX(B) free agent. Perez struck out 10.5 batters per nine innings while walking 3.9 across the past two seasons with the Washington Nationals, and the Indians will hope he can serve as another reliable lefty reliever behind Tyler Olson while former ALCS MVP Andrew Miller rehabs a knee issue.

As Bastian aptly pointed out, Perez will end up being the 15th relief pitcher used by the Indians this season, whereas they only used 13 relievers for the entirety of 2017 (position players and starters coming out of the bullpen excluded). Those relievers have combined to post an ERA north of 6, good for the worst mark in the majors. While it would be silly to think that Perez can have a significant impact on that figure, he’s got a long resume of effective performance against same-handed hitters. On the whole, he’s limited those lefties to a .228/.318/.365.

In any case, that makes him an upgrade over Beliveau, who’s at times seemed incapable of getting any outs at all. Beliveau’s got a gargantuan ERA of 11.57 this season, and remarkably, his FIP suggests he’s been lucky to have posted even that figure. Of course, this all comes in a 4 2/3 inning sample size, but Indians fans will surely be glad to see Beliveau replaced in the bullpen regardless.

 

Yankees Release Oliver Perez

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The Yankees have released veteran lefty Oliver Perez, according to Bryan Hoch of MLB.com (via Twitter). He had joined the organization on a minors deal right at the start of the season after spending spring camp with the Reds.

Perez, 36, received a June 1st opt-out date by virtue of being an Article XX(B) free agent. He spent the past two years with the Nationals, making 114 appearances but throwing only 73 total innings of 4.81 ERA ball with 10.5 K/9 and 3.9 BB/9.

Thus far in 2018, Perez has allowed just four earned runs in his 12 1/3 frames at Triple-A. He has recorded 13 strikeouts against three walks in that span. While there wasn’t an opening for him in the New York pen, it wouldn’t be surprising to see the 15-year MLB veteran sign on with another organization that has a greater opportunity available.

Yankees Sign Oliver Perez To Minor-League Deal

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The Yankees have added left-hander Oliver Perez on a minors pact, tweets Marc Carig of The Athletic. He’ll make just over $1MM if he cracks the MLB roster.

The 36-year-old Perez signed a minor league deal with the Reds earlier this offseason, but allowed ten earned runs in just 6 2/3 innings and as such was not named to the club’s opening day roster; the club released him on March 22nd. But perhaps the Yankees found some small reason for optimism in his 2:1 ground ball to fly ball ratio and nine strikeouts across those innings.

Perez has long been effective against opposing left-handed hitters. He’s faced them a total of 1,541 times, and they’ve managed just a .228/.318/.365 batting line against him. Even as he’s aged, he’s maintained that skill, as evidenced by his .227/.301/.364 batting line versus lefty opponents in 2017. On the whole last season, Perez posted an impressive 10.64 K/9, but with a 4.64 ERA.

 

Reds Sign Oliver Perez To Minor-League Deal

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11:17am: Sheldon tweets that Perez will earn $1.25MM if he makes the MLB roster, and has $500K available performance bonuses. He’ll be able to opt out of the contract at the end of camp if he isn’t added to the roster by then.

11:02am: The Reds have added left-hander Oliver Perez to their bullpen competition; he’ll receive a minor-league contract with an invitation to spring training (hat tip to Mark Sheldon of MLB.com).

The 36-year-old veteran has spent parts of 15 seasons pitching in the major leagues (both as a starter and a reliever), and Cincinnati will be his eighth organization on that journey. Most recently, Perez completed a two-year, $7MM contract with the Nationals for whom he appeared in 114 games while pitching to a 4.81 ERA and 4.55 xFIP. His WPA was 0.46 during that time.

While Perez has experienced a wide variance in overall effectiveness throughout his major-league career, his reputation against left-handed hitters is solid. He’s faced them a total of 1,541 times and held them to just a .228/.318/.365 batting line. That skill has still managed to hold up as he’s aged, as evidenced by the .227/.301/.364 batting line of his lefty opponents in 2017.

The Reds’ bullpen was historically bad in 2016, and would’ve been below replacement level overall again last season if it hadn’t been for an excellent showing from closer Raisel Iglesias. That being said, Perez isn’t a lock to crack the club’s major-league roster. Fellow lefty Wandy Peralta is a solid incumbent who figures to be in the Reds’ bullpen come opening day, and Amir Garrett might also be in the mix if he doesn’t land a spot in the rotation. Iglesias and Michael Lorenzen are among the right-handers set to return, and the club also added Jared Hughes and David Hernandez on major-league deals to fill two more vacancies.

Nationals Links: Desmond, Perez, Zimmerman

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Here’s the latest from the D.C. camp…

  • Ian Desmond’s former Nationals teammates are flabbergasted by the fact that the shortstop has yet to sign with a team, Ken Rosenthal of FOX Sports writes.  “I don’t think there is a draft pick out there who is better than Ian Desmond,” Bryce Harper said.  “I don’t there is a draft pick out there who is a better guy or person in the clubhouse than him.”  Harper and Max Scherzer both feel that the qualifying offer is largely behind Desmond’s lingering presence on the market, with Harper opining that the QO system is “something baseball definitely needs to change.”  Scherzer thinks the qualifying offer “literally has to be” the biggest and maybe only factor why Desmond is still available. “There’s no other reason why a team would not want to sign a shortstop like that. ….You could see the power. You could see the speed. You just don’t find that out of a shortstop,” Scherzer said.
  • Oliver Perez’s previous stint with the Nationals consisted of 16 Double-A games in 2011, but the southpaw tells MASNsports.com’s Mark Zuckerman that this stint helped revive his career.  Minor league pitching coordinator Spin Williams encouraged Perez to become a full-time reliever in order to pave a quicker road back to the majors, and Perez has taken that advice to the bank.  In four seasons since shifting to the bullpen, Perez has become a quality lefty specialist and is now back in Washington on a much more lucrative contract.
  • Ryan Zimmerman spoke to reporters (including Zuckerman) for the first time since his name was cited in the controversial Al Jazeera documentary that alleged Zimmerman, Ryan Howard, Peyton Manning and several other notable athletes were using PEDs.  Zimmerman firmly denied any allegations made in the documentary and noted that he and Howard were so eager to clear their names that they filed a defamation lawsuit against Al Jazeera, despite the fact that such a suit could lead to more public scrutiny.  “It’s one of those things where privacy is really not privacy anymore for me,” Zimmerman said. “It’s unfortunate that I have to do that, but that’s the steps I’m willing to take to show people that I have nothing to hide.”

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