Throw It Like a Ballplayer

providing baseball commentary and ponderings since April 2010

Posts Tagged ‘albatross’

Soriano: Not Yet an Albatross.

Posted by dannmckeegan on March 5, 2011

A quick note on Fonzie’s crazy contract with the Cubs: So far, he’s been paid a total of $56 million, according to Cot’s ($9m in 2007, $13m in 2008, $16m in 2009, and $18m last year). In that time, he has produced a total of 14.1 fWAR, for a per-win cost of $3.97 million. Considering he produced a replacement-level performance during an injury-riddled 2009 season, that’s a pretty fair price.

Even if we add his $8 million signing bonus to the $56 million paid to date, his cost is $4.54 million per win. That price appears to be within the realm of reason.

While he is highly unlikely to maintain a $4-$4.5 million/win pace through the life of his current contract, his production has actually been less of an albatross than it’s made out to be. He is under contract through 2014 at an annual salary of $18 million ($72 million still owed). He would have to produce 16 to 18 WAR over than span to keep pace.

But let’s consider $5 million per win to be an upper threshold for the per-win average cost between 2007 and 2014 (i.e., assume that the price will continue to climb slightly). Dividing the contract’s total value by this per-win cost, we see that Soriano has to produce a total of 27 WAR over the life of the contract to hit $5 million/win. 30 WAR would place him at approximately $4.5 million/win.

So to reach this ballpark, Soriano has four years to produce between 13 and 16 WAR. While it is a safe bet that he will not be able to accumulate enough playing time (given the Cubs’ OF prospects and his own aging/injuries) or have enough defensive improvement (try, try again) to put up 4 WAR/season, a line similar to his 2010 output would likely keep him close to 3 WAR/year.

If, after the 2014 season, Soriano has produced the following annual WAR tallies:
2007 – 6.9
2008 – 4.3
2009 – 0.0
2010 – 2.9
2011 – 3
2012 – 2.7
2013 – 2.2
2014 – 2.0
he will have accumulated 24 WAR in exchange for $136 million, thus earning $5.67 million per win. A 2-win season in 2014, at age 38, would be a big surprise. But it would be equally surprising to see him either forced to the bench or retirement at that point. And once the contract is down to one or two years, an AL team in need of a power-hitting DH would possibly be interested in a discounted trade. If the Cubs have Brett Jackson, Matt Szczur, and Tyler Colvin (for example) penciled into their 2014 outfield, they won’t be worrying about payroll and can pay half of his final year spent elsewhere.

Barring a complete and utter late-career collapse (unlikely), Alfonso Soriano will likely end up being a noticeable but not atrocious overpay. If managed wisely, the club’s payroll won’t be negatively effected by his presence. If he can produce a simple .250/.310/.470-(20-25 HR)-(55-75 RBI) line for the next three years, he’ll have actually been a halfway decent investment. Considering the in-house options (Matt Murton, Angel Pagan, Micah Hoffpauir, Jake Fox, Jason Dubois, Matt Camp, Bobby Scales, Brad Snyder, Jim Adduci, Sam Fuld…) of recent vintage, it seems like Soriano has filled the corner outfield power gap that many teams do nowadays struggle to fill.

Remember: the albatross is a portent for good. It wasn’t until Coleridge’s mariner killed the bird that ill luck gained sway. The albatross is only hanging from around one’s neck when it is dead. Soriano: not dead yet.

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