Jays could have cash to make splash
Early indications suggest it is going to be a long and cold winter for Major League Baseball’s current crop of free agents. Multiple teams across the league have begun slashing salaries, and for some players the dream of a big payday will have to wait at least another year.
Such is the economic reality facing the sport following an abbreviated season played at empty ballparks across the United States. MLB has been tripping all over itself in recent days to outline its extensive financial losses, reported to be upwards of $3 billion (U.S.) if the owners are to be believed, which serves as a warning for what’s to come.
Free agents aren’t permitted to begin signing with other teams until Monday, but teams have already started making moves. With Sunday’s deadline looming on club options, a lot of players have been cut loose despite reasonable price tags. In any other year, some might have been considered a bargain. Now they’re expendable.
For example, look at what’s happening in Cleveland. The Indians made the surprise decision on Thursday to place closer Brad Hand on outright waivers. The move indicates they intended to decline Hand’s $10-million option and are now hoping another team takes him off their hands, free of charge, to save the club a $1-million buyout.
That might not seem unusual until one examines the numbers. Hand led the American League in saves this past season with 16, while striking out 29 and posting a 2.05 ERA across 22 innings. The solid performance was nothing new for a guy who has a 2.70 ERA and 12.2 strikeouts per nine innings dating back to 2016. Hand has been as consistent as it gets when it comes to big-league relievers.
Under normal circumstances, Cleveland would have been willing to pay
that salary, or at least would have traded him to a team that was prepared to ante up prospects and cash. The fact that the Indians outrighted Hand instead shows there’s hardly any market for him at that price. Instead of a lucrative multi-year deal, he will be lucky to have the remainder of his current one guaranteed.
The penny pinching is not limited to Cleveland. It’s happening all over.
The Atlanta Braves decided it made more sense to buy out veteran reliever Darren O’Day for $500,000 instead of the $3.5 million he would have been owed next year. This despite the fact he was coming off a season in which he posted 1.10 ERA across 161⁄ 3 valuable innings after being equally good for Atlanta the year prior.
In Texas, Corey Kluber’s $18.5-million option was declined. The Astros placed Robert Osuna (projected to get $10 million through arbitration) on outright waivers. Washington severed ties with outfielder Adam Eaton ($10.5 million). St. Louis declined infielder Kolton Wong’s $12.5-million option) and the Mets are no longer associated with catcher Wilson Ramos ($10 million). At least the Miami Marlins spent a bit of cash by guaranteeing centrefielder Starling Marte’s $12.5million option. The Yankees did the same with Zack Britton.
The Blue Jays had some financial decisions of their own to make, but they weren’t difficult ones. As expected, they exercised their $1.5-million option on right-hander reliever Rafael Dolis. After a rough first week to the season, Dolis settled into a high-leverage role in the bullpen by posting a 1.50
ERA over 24 innings. More of the same will be expected in 2021.
The future isn’t as promising for right-hander Chase Anderson, who had his $9.5million club option bought out for $500,000. It would have been a no-brainer to decline Anderson’s option even during a regular off-season. The pandemic made it even more of a lock. Anderson provides value, but the Jays can manage their resources better than allocating that type of cash to a fifth starter/swingman type.
There are pros and cons for the Jays’ off-season under this new economic landscape. Unlike most teams that are openly talking about cutting player costs, club president Mark Shapiro recently told the media he could see the Jays having an impactful off-season, similar to a year ago when they landed Hyun-Jin Ryu, the disappointing Tanner Roark and others on the open market.
If Toronto really has that kind of cash to spend, which remains questionable, it should be able to take advantage of a depressed market. The uncertainty of where the Jays will play their home games next year is a roadblock to acquiring top talent, but money talks and if the club has the backing of deep-pocketed Rogers Communications a lot of gains could be made this winter.
The downside is that the Jays likely will have their hands tied in trades.
It seems extremely unlikely another team would be willing to take on the $31 million Randal Grichuk is owed over the next three years. Trying to find an interested party for Roark’s $12-million contract in 2021, barring the inclusion of cash, would be a complete waste of time.
Toronto currently has just $54 million in guaranteed contracts allocated for next season. That number will rise when raises are factored in for the younger players, but the Jays’ biggest arbitration case, Travis Shaw, likely will be non-tendered. The Jays’ level of financial flexibility remains unknown and likely won’t be set until a Rogers board meeting late next month, but there should be at least some money to spend at a time when other GMs are scrounging under cushions for loose change.
If you thought the last few years of MLB’s off-season were slow to develop, just wait for what’s about to happen this winter. There is no need for a free-agent frenzy show on Monday. It will take months, not days or even weeks, for some of the game’s elite to find new homes. It’s a buyer’s market, and there aren’t too many times that can be said about free agency.