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More than ever, baseball's best players are choosing the security of a multiyear deal as opposed to the higher risk and reward of going year-to-year.  But exactly how many of the game's best players are currently on one-year deals?

In 2012, 115 players accumulated at least 3.0 wins above replacement, according to FanGraphs.  82 of them (71%) are on multi-year contracts.  Some of these players have expiring multiyear deals, like Robinson Cano, and some are on short two-year deals covering just a pair of arbitration seasons, like Clayton Kershaw.  But most of them are locked up, like Ryan Braun, Buster Posey, David Wright, Justin Verlander, Andrew McCutchen, and Adrian Beltre.  Of these 82 good players on multiyear deals, only 26 of them (32%) signed as free agents (counting Yu Darvish but excluding Jake Peavy and C.C. Sabathia).  Of the 25 players worth at least five wins in 2012, only four of them (Beltre, Michael Bourn, Aramis Ramirez, and Torii Hunter) are signed to free agent contracts.

Only 33 players who were worth three wins or more in 2012 are currently going year-to-year, including the two such free agents who signed one-year deals (Hiroki Kuroda and A.J. Pierzynski).  Taking out the two free agents (but including Aroldis Chapman since he can opt for arbitration when he has the service time), we're left with 31 young, good players who are currently going year-to-year.  The top 15 by 2012 WAR:

1. Mike Trout
2. Chase Headley
3. Jason Heyward
4. Giancarlo Stanton
5. Austin Jackson
6. Ian Desmond
7. David Price
8. Josh Reddick
9. Bryce Harper
10. Max Scherzer
11. Wade Miley
12. Stephen Strasburg
13. David Freese
14. Matt Wieters
15. David Murphy 

Why aren't these 31 players under multiyear contracts yet?  Nine of them have less than two years of big league service.  While players at that service level do sign multiyear deals, teams don't have a ton of urgency since arbitration is not looming.  Also, nine of the 31 players (and five of the top 14) are clients of the Boras Corporation.  Boras is playing a major role in advising top young players against signing multiyear deals before free agency.  Arbitration and free agency are on the decline, but not if Boras can help it.

Which agency's players have the most MLB talent?  One way of answering that question is to rank the agencies by 2012 wins above replacement (from FanGraphs).  Here are the results for total 2012 WAR (please note that players with negative WAR were omitted):

1. Boras Corporation: 104.4
2. CAA Sports: 102.1.
3. ACES: 78.8.
4. SFX: 72.6.
5. Wasserman Media Group: 66.5.
6. Excel Sports Management: 62.4.
7. The Legacy Agency: 56.0.
8. Octagon: 52.1.
9. MVP Sports Group: 34.3.
10. LSW Baseball: 25.9.
11. Beverly Hills Sports Council: 26.1.
12. Frontline: 20.6.
13. Reynolds Sports Management: 18.4.
14. Sosnick/Cobbe: 18.1.
15. Hendricks Sports: 17.4.

Some interesting information arises when we rank agencies by WAR per big league player, filtering to those with at least ten players.  WAR per player:

1. Excel Sports Management: 2.40.
2. Boras Corporation: 2.09.
3. Frontline: 2.06.
4. CAA Sports: 2.04.
5. LSW Baseball: 1.99.
6. MVP Sports Group: 1.81.
7. Octagon: 1.80.
8. The Legacy Agency: 1.75.
9. Moye Sports Associates: 1.68.
10. Reynolds Sports Management: 1.67.
11. Sosnick/Cobbe: 1.65.
12. Hendricks Sports: 1.58.
13. SFX: 1.51.
14. ACES: 1.49.
15. Wasserman Media Group: 1.41.

Beverly Hills Sports Council ranks outside the top 15, with 1.04.  They had only two players who exceeded 2.0 WAR, Jason Kipnis and Ryan Ludwick.  But perhaps in some cases WAR per player is deceiving, because a large agency like Boras gets dinged for having small contributions from players like Jacob Turner or Zach Britton.  So, here's a listing of the number of four-win players by agency:

1. Boras Corporation: 8 (Adrian Beltre, Michael Bourn, Austin Jackson, Prince Fielder, Matt Holliday, Bryce Harper, Max Scherzer, Stephen Strasburg).
2. CAA Sports: 7 (Robinson Cano, Ryan Braun, Buster Posey, Jake Peavy, Adam Jones, Ryan Zimmerman, David Freese).  You'll note that CAA is credited for having Cano now, even though Boras had him in 2012.
3. ACES, Excel Sports Management, The Legacy Agency: tied at 5.

Octagon and Wasserman Media Group had three each.

What have we learned?  Boras still reigns supreme, in terms of depth of MLB talent and star power.  CAA is very close on both fronts with the addition of Cano, though the second baseman's association with Roc Nation Sports muddies the waters a bit.  ACES remains strong — in terms of three-win players, they rank behind only Boras and CAA, with nine.

MLBTR's agency database was used for this post; please email me at mlbtrdatabase@gmail.com with any corrections or omissions.

From the end of the 2012 season until present, 25 players with less than six years of Major League service time signed multiyear extensions.  However, from the end of the 2011 season through April 30th, 2012, 37 such deals were signed.  So, we've seen a notable decrease in extensions this offseason.  During both offseasons, the average value of these arbitration year extensions has been around $28-29MM.

This offseason, arbitration eligible players signed deals later in their careers.  The average service time of an extended player this offseason was right around four years, as opposed to three years and 126 days the previous winter.  One notable difference is in the number of players extended with less than two years of big league service.  So far this offseason we've had only one such player, Paul Goldschmidt, and he received $32MM.  The previous offseason, six players signed with less than two years service: Jonathan Lucroy, Madison Bumgarner, Carlos Santana, Cory Luebke, Salvador Perez, and Matt Moore.  Only Bumgarner topped $21MM.  Some of those deals are among the most team-friendly in baseball, so perhaps agents have begun to dissuade these players from signing so quickly for $15MM or less.

One possible reason for the apparent decline in extensions: maybe we're not done this month.  Santana, Bumgarner, and Erick Aybar signed after April 9th, back in 2012.  Guys will certainly sign later during the season as well, but I thought it made sense to consider April 30th to be the end of the offseason, for the purposes of this post.

MLBTR's Extension Tracker was used for this post; please check it out.

Behind every multi-million dollar MLB contract, there's an agent.  Ever wonder who represents your favorite players?  Just check out MLBTR's agency database, which lists agencies for over 1,700 players.  Agents: if you notice any errors or omissions, please email me at mlbtrdatabase@gmail.com.  And if you'd really like to help, click below to see a list of 86 players for whom I still need agency information.

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@CloserNews, as the name suggests, aims to keep followers up-to-date on all happenings involving closers and late-inning relievers, mainly to help you dominate the saves category in your fantasy league.  This Twitter account, which is a side project of mine, has proven successful with over 16,000 followers to date.

We are currently looking for people interested in manning @CloserNews for certain late-night games, concluding after 11pm central time.  This is an unpaid position, so please apply only if you would like it on your resume or simply would enjoy being involved.  If you're interested, please email closernewshelp@gmail.com with your qualifications.

Remember free agents?  Like good, under-30 ones without any major warts?  With the proliferation of long-term extensions prior to free agency, the 2013-14 class is looking fairly weak, especially if Robinson Cano signs a new deal with the Yankees.  It doesn't have to be this way.  Free agency could be interesting again if more players adopted the Boras approach, which generally means reaching free agency after you accumulate six years of big league service.  For the sheer offseason excitement of it, I'm rooting for Bryce Harper to bet on himself, avoid extension offers, and reach free agency as a 26-year-old.  If all players took that approach, look who would be part of the upcoming free agent class:

• Corner infielders: Joey Votto, Martin Prado, Alberto Callaspo.  Votto is signed through at least 2023, Prado through 2016, and Callaspo through 2014.  Prado and Callaspo, both on the eve of free agency, signed extensions this year.  Votto signed a year ago, receiving a ten-year, $225MM extension with a full no-trade clause.  He made the right call in taking that deal.
• Middle infielders: Asdrubal Cabrera, Alexei Ramirez, Yunel Escobar.  Cabrera is signed through 2014, Ramirez through at least 2015, and Escobar has an affordable club option in the upcoming offseason.  Signing as a four-plus player, I'm not sure why Cabrera was willing to give up one free agent year.       
• Outfielders: Ryan Braun, Justin Upton, Adam Jones, Alex Gordon, Ben Zobrist, Carlos Gomez.  Upton, Gordon, and Braun all went within the first five picks in the 2005 draft, and they could have been coveted free agents together.  Instead, Upton is signed through 2015, Gordon through '15 (or '16 if he prefers), and Braun through 2020.  Braun's initial eight-year, $45MM extension with the Brewers was quite team-friendly and ran through 2015, but with five years remaining on it, the team put another five years and $105MM on top.  Braun will earn $18.5MM for what would have been his three arbitration years, an amount he certainly could have doubled going year-to-year.  He's getting $117MM over seven free agent years, which would seem extremely light if not for the PED cloud following him.  From this impressive bunch, Zobrist's deal is probably the most team-friendly: a four-year, $18MM contract with a pair of club options. 
• Designated hitters: Billy Butler.  The Royals will likely control Butler through 2015, snagging a pair of free agent seasons by guaranteeing him $30MM overall when he had three years service time.  Even as a bat-only player, free agency would have smiled upon him at age 27.
• Starting pitchers: Johnny Cueto, Yovani Gallardo, Brandon Morrow.  Cueto signed a four-year deal with a club option when he had three years of service, getting the same total guarantee has Gallardo, who had less than three years.  Morrow signed with four years of service, potentially giving up two free agent years, but to that point had a 4.37 career ERA and had never reached 180 innings in a season.  I think the tradeoff made sense in that case.
• Relievers: Glen Perkins, Jared Burton.  The Twins have some stability in their bullpen, with Perkins and Burton under control at least through 2015.

Earlier this week, the Rangers officially signed Elvis Andrus to an eight-year extension with a vesting option for a ninth year that could bring the shortstop as much as $146.275MM. Of course, given the opt-out clauses that are worked in, it's more likely to become a four-year, $58MM extension if Andrus remains healthy.

A look at April 2012 and April 2011 in MLBTR's Extension Tracker shows that if recent history is any indicator, more notable transactions should be on the horizon. Let's take a look…

April 2012

• Reds, Joey Votto agree to a 10-year, $225MM extension. Votto became only the fifth player to crack the $200MM barrier and did so by signing the fourth-largest contract in baseball history.
• Giants, Matt Cain agree to a five-year, $112.5MM extension. At the time, this was the largest contract ever signed by a right-handed pitcher. What a difference a year can make! Cain has since been topped by Zack Greinke, Felix Hernandez and Justin Verlander.
• Rangers, Ian Kinsler agree to a five-year, $75MM extension. Kinsler's contract was the richest deal ever in terms of average annual value for second basemen at the time.
• Reds, Brandon Phillips agree to a six-year, $72.5MM extension. Phillips elected to forego free agency this winter by signing for six years last April.
• Giants, Madison Bumgarner agree to a five-year, $35MM extension. Bumgarner's deal runs through his first free agent season and contains a pair of club options.
• Angels, Erick Aybar agree to a four-year, $35MM extension. Aybar's contract will essentially pay him $5.5MM less per season than Andrus, assuming Andrus opts out following the fourth year of his deal.
• Mets, Jonathon Niese agree to a five-year, $25.5MM extension. Niese's deal bought out his first free agent year, and GM Sandy Alderson was able to secure a pair of below-market club options ($10MM and $10.5MM).
• Indians, Carlos Santana agree to a five-year, $21MM extension. Santana's contract came with just one-plus year of service time and includes an option for his first free agent season
• Indians, Asdrubal Cabrera agree to a two-year, $16.5MM extension. Cleveland managed to secure one of Cabrera's free agent years without taking on significant risk, financially speaking.

April 2011

• Red Sox, Adrian Gonzalez agree to a seven-year, $154MM extension. Gonzalez, of course, would only serve about 15 months of that extension in Boston before being shipped to the deep-pocketed Dodgers last summer.
• Brewers, Ryan Braun agree to a five-year, $105MM extension. Braun was already under contract for four more seasons, but could be in Milwaukee through 2021 if both sides exercise his deal's mutual option. He could be a Brewer for life thanks to the biggest contract in Milwaukee history.
• Athletics, Trevor Cahill agree to a five-year, $30.5MM extension. Cahill's deal guarantees his first free agent season and has club options for $13MM and $13.5MM for the next two. Like Gonzalez, he'll be serving out the remainder of his deal with a new team — the Diamondbacks.
• Red Sox, Clay Buchholz agree to a four-year, $29.945MM extension. Buchholz's deal locked in his first free agent season and contained identical club options to Cahill's deal ($13MM and $13.5MM).
• Giants, Freddy Sanchez agree to a one-year, $6MM extension. MLBTR was the first to report this extension, but I'd bet GM Brian Sabean would take this one back if he could. Sanchez was guaranteed a $6MM salary for 2012 but never played a game last season.

Clayton Kershaw and Robinson Cano are the first names that come to mind (for yours truly, at least) when it comes to extension candidates around the game, and both have the potential to eclipse the $200MM threshhold. Other players such as Matt Wieters and Ian Desmond have been mentioned in extension rumors lately as well. It will be interesting to see how the remainder of the month plays out on this front, as a few more are almost certain to follow.

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The opt-out clause seems to be gaining in popularity over the last ten years or so.  The most popular example is Alex Rodriguez's first contract, negotiated by Scott Boras in December of 2000.  That record deal allowed A-Rod to opt out after the seventh year, and he did so (during the World Series) to eventually snare an even larger contract.  We've also seen J.D. Drew, A.J. Burnett, C.C. Sabathia, and Rafael Soriano use opt-out clauses to their advantage.  Vernon Wells had the ability to opt out after the 2011 season, but chose to stick with his current contract.  Here's a look at current Major Leaguers with opt-out clauses or something similar:

• Zack Greinke, Dodgers.  Greinke can opt out after the 2015 season, at which point he'd have three years and $71MM remaining ($23.67MM AAV).  He'll be 32 at that point, so there's a possibility for another $100MM contract.
• Elvis Andrus, Rangers.  Andrus' new deal with the Rangers, which was officially announced today, allows him to opt out after the 2018 or 2019 season.  I haven't yet seen the year-by-year salary breakdown, but using the $15MM AAV, Andrus would either leave four years and $60MM or three years and $45MM on the table by opting out at age 30 or 31.
• Hyun-Jin Ryu, Dodgers.  Ryu may opt out after the 2017 season, leaving one year and $7MM on the table, if he reaches 750 innings pitched from 2013-17 (an average of 150 per year).
• Barry Zito, Giants.  Zito has an $18MM club/vesting option for 2014, of which he may opt out and receive a $3.5MM buyout if it vests.  The option vests with 200 innings in 2013, a level he has not reached since his last year in Oakland (2006).
• Ubaldo Jimenez, Indians.  Having been traded in the midst of his contract, Jimenez can void the Indians' $8MM club option for 2014.
• Joe Nathan, Rangers.  Nathan may void a $9MM club option for 2014, forfeiting a $750K buyout, with 55 games finished this year.  He finished 62 in 2012.
• Derek Jeter, Yankees.  Jeter has an $9.5MM player option for 2014 with a $3MM buyout.  The option value increased by $1.5MM when Jeter won a Silver Slugger award last year, and would have gone up another $2MM had he finished one spot higher in the MVP voting.  It is reasonable to expect Jeter to decline the player option, since he only needs to top one year and $6.5MM after the buyout to come out ahead.
• Mike Scioscia, Angels manager.  Scioscia can walk away after 2015, leaving three years and $18MM on the table.

What's next for the opt-out clause?  The Dodgers handed out two this offseason, and Andrus set a precedent for a non-free agent to get two of them.  It'd be a fair request for Clayton Kershaw, even though Justin Verlander did not receive one.  An opt-out clause could also be a target for Robinson Cano, though it's been more popular with Scott Boras than CAA.