Category Archives: Random

Fun With Bad Contracts: The Money Involved in the Rumored Jason Bay Trade

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Rumors were swirling late last week that the Marlins and Mets were throwing around the possibility of a change-of-scenery trade between the teams. The rumored trade would send outfielder Jason Bay to Miami for catcher John Buck and reliever Heath Bell. This is is the final part of the series, examining the financial aspect.

While cases can be made both for and against the Jason Bay trade, this post is mostly going to focus on how awful each of the three players have been during their respective contracts. First, here are each player’s contracts.

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Jason Bay

Initial Contract: 4 yr/$66 million deal signed in 2010, with year four (2014) being a vesting option, or requiring a $3 million buyout.

Remaining: $19+ million ($16 million next year, $3 million buyout, remaining salary this year).

Heath Bell

Initial Contract: 3 yr/$27 million deal signed in 2011, with a team option for 2015, that could become a vesting option based on performance

Remaining: $21 million+ (two years at $9 million, $3 million in delayed bonus payments, remaining salary this year)

John Buck

Initial Contract: 3 yr/$18 million deal signed in 2010

Remaining: $6+ million ($6 million next year, remaining salary this year)

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While the Mets would upgrade in two areas after this deal, they’d be taking on an extra $8 million-and-change. The Mets are still a big-market team, but they have made shrewd moves in lieu of giving out big contracts in recent years. The Madoff scandal and subsequent settlement took a decent chunk of change out the Wilpons’ pockets.

One of the reasons the Mets went with Sandy Alderson as their GM was his track record of success with an extremely limited budget in San Diego. Their 2011 opening day payroll decreased by over $40 million in 2012, and Mets ownership sold $240 million in minority stakes to keep control of the franchise.

The Mets are stuck paying Jason Bay regardless. He’s not a nut-case like K-Rod and won’t give the Mets reason to put him on the restricted list. He’s a professional player in the midst of an incredible struggle, taking his demotion to bench warmer with grace. But what kind of production would the Mets rather be paying? All three are ridiculously overpaid for what they actually do.

They could continue paying Jason Bay nearly $300,000 for every hit he gets, or pay John Buck $116,883 for every hit he gets and Heath Bell $201,492 for every out he records. The Mets could decide to continue to pay Bay $26,336 for every strike he takes or swings at, or pay Buck $9,202 for his similar services, while paying Bell $87,947 for every ball he throws.

Either way, they’re stuck paying outrageous money for abysmal performances.

Those Snakebitten Mets

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For the unfamiliar, the name of this blog comes from the infamous New Yorker interview Fred Wilpon gave in May of last year (Bob Gelen alluded to this when he addressed the class last week). As just another Mets fan with no stake in the team, I can be a cynical jackass and maybe, just maybe, come across as passionate. Fred Wilpon can’t, because Fred Wilpon isn’t just another Mets fan.

He’s the Mets owner. The guy who OK’d Steve Phillips’ destruction of the farm system, and he OK’d the horrible contracts dished out by Omar Minaya. He let all of this happen under his watch, and he still chocked it up to bad luck and brushed it aside claiming the Mets were a lousy club.

The New Yorker piece is a fascinating read, but the point this post focuses on is on page seven. Jeffrey Toobin, the author of the article, gives us Wilpon’s analysis of the New York Mets from an April 20 game against the Houston Astros. Wilpon had some choice quotes that rubbed fans and players the wrong way, so, without further ado, the quote regarding their player, and what they’ve done since.

Jose Reyes

Then:

“He’s a racehorse,” Wilpon said. … He thinks he’s going to get Carl Crawford money. … He won’t get it.”

Now:

Reyes had an All-Star season with the Mets in 2011, even garnering some MVP votes. In the off-season he signed as a free agent with the Miami Marlins for six years, and 106 million dollars. Wilpon was right, as he didn’t get Carl Crawford money (seven years/$142 million), but Jose Reyes money isn’t bad. Not bad at all. He’s currently having an average year for the Marlins.

David Wright

Then:

“He’s pressing. … A really good kid. A very good player. Not a superstar.”

Now:

Wright is in the midst of a resurgent season. With a slash line of .336/.425/.559 entering Friday’s contest against the Diamondbacks, Wright is having more than a very good season. He’s having a superstar season during a contract season, so expect to see him playing somewhere else next year.

Carlos Beltran

Then:

“We had some schmuck in New York who paid him based on that one series. … He’s sixty-five to seventy per cent of what he was.”

Now:

Wilpon was referencing Carlos Beltran’s amazing 2004 postseason with the Houston Astros where he put up these ridiculous numbers:

Year Tm Series Opp Rslt G PA AB R H 2B HR RBI SB BB SO BA OBP SLG OPS
2004 HOU NLDS ATL W 5 24 22 9 10 2 4 9 2 1 4 .455 .500 1.091 1.591
2004 HOU NLCS STL L 7 32 24 12 10 1 4 5 4 8 4 .417 .563 .958 1.521
Provided by Baseball-Reference.com:

So the Mets rewarded him with a lucrative seven year/$119 million contract. Beltran produced when he was healthy, but he couldn’t stay on the field for half of the contract. The Mets’ ended up flipping him to San Francisco at the trade deadline last year and stole the Giants’ #1 pitching prospect Zach Wheeler. Currently, he’s producing MVP-like numbers for the St. Louis Cardinals.

Ike Davis

Then:

“Good hitter. … Shitty team—good hitter.”

Now:

Davis is the starting first baseman for the Mets but has struggled mightily this year. He’s only recently brought his batting average over the Mendoza line (.200). He currently holds a streak of 42 consecutive games at Citi Field without more than one hit.