Pitchers and catchers report in about five weeks — which is kind of crazy to think about in and of itself — and Ryan Madson finally has a home. The former Phillies reliever will close for the Cincinnati Reds in 2012, having signed a one-year deal worth $8.5 million guaranteed, and incentives that could put the value at $10 million.
The deal is tremendous for the Reds, as they get one of the very best relievers in the game on a minimal commitment. It’s unfortunate for Madson, who figured to sign for substantially more in his first foray into free agency, but there is some silver lining. In addition to getting paid $8.5 million — more than he would have gotten through arbitration — he gets to hit free agency after the season, when far fewer closers will join him.
Madson’s free agent prospects were largely victimized by the glut of capable closers and closing options this offseason. While teams may not have been scared off by his “lack of experience”, they certainly weren’t going to pay him $11 million per year for three or four years when, say, Frank Francisco was available for $10 million over two years, or when relievers like Huston Street and Sergio Santos were available via trade.
Ultimately, everything should work out for Madson. He isn’t going to age that much from last year to this one, and he should pitch very well for his new employer. After the season, teams will view his closing attributes in a different light, and he’ll sign a long-term deal. However, activity this offseason suggests that teams may actually be getting wiser about the silliness of signing 60-IP pitchers to multi-year, eight-figured salaries.
Of all the closers that were acquired via trade or free agency this offseason, only Papelbon received a multi-year deal with an average annual value exceeding $10 million. Francisco signed the aforementioned deal with the Mets. The Padres traded for Street, while the Blue Jays acquired Santos. The Rangers, with both Mike Adams and Koji Uehara in the bullpen, were able to take a chance on Joe Nathan for $14 million over two years.
The Tigers signed Octavio Dotel and the Rays signed Fernando Rodney, both on cheaper, team-friendly contracts. Other than the Phillies deal with Papelbon, the only “significant” multi-year deal was doled out to Heath Bell by the Marlins.
Teams certainly seem more keen than usual on spending less on closers, or filling vacancies in more creative ways, and it shows in their actual offseason activities.
Ruben Amaro is still a relatively young General Manager, and one would hope that after seeing what happened with Madson and Jimmy Rollins, he would recognize the benefits of waiting. This isn’t going to be the umpteenth article discussing Papelbon’s actual contract, but there is definitely something to be said for waiting the market out a bit, especially with numerous viable options on the table.
If some other team jumped the gun and signed Papelbon, the Phillies could still try and outbid them. If he chose the other team, then numerous cheaper options existed, either through traditional or progressive approaches.
For a team with a tight proximity to the luxury tax threshold, every million dollars is of material interest. While Papelbon may have been their guy, in jumping the gun they ended up paying way more than anyone else for their closer, in a situation where waiting, and hoping the price dropped, carried very little risk.
A positional glut benefits teams, as the ease of opting for alternative solutions tends to drive down asking prices. Not taking advantage of a glut isn’t always a bad business practice, but in this case it’s unfortunate for the Phillies. Madson entered the offseason expecting something in the avenue of four years and $40 million. He signed for a maximum of exactly one-fourth of that on the team-friendliest deal given to any closer this offseason.
Best of luck to Ryan Madson in his new home… except, of course, when he pitches against the Phillies.
What is the impact on getting compensation for Madson ? I saw a 1st round pick before the Reds and a sandwich pick ? That sounded a little too rich ? Lastly, reports that Phils will only offer Hamels a one year deal ? Sounds like he will be gone also…..
Yeah, the way it works is instead of getting the Reds’ actual 1st rounder and a supplemental pick, they get a pick before the Reds’ selection. Reds don’t have to give up any picks anymore.
I agree, I’m disappointed to hear about only a 1 year deal. The Phils are quite hesitant to commit to three $20 mil starting pitchers, and they will feel the wrath when Hamels gets paid by someone else in November. I think the main issue is he wants a market value contract now, more than $100 mil guaranteed over 5 years, and the Phils are not willing to go that route just yet. They basically have no choice though, he’s too close to FA to sign for less.
Now the Phillies decide to be cheap when it comes to the WS MVP, Cole Hamels? They give all this money to outsiders that have won nothing and may not be able to sign their home-grown talent? I’m sorry. I just don’t understand this tactic unless Cole wants to hit free agency and then I will be all for it. Cole owes this town nothing but I think the team owes him some loyalty and the message is not a good one to the other players that have come up through the Phillies system that they are willing to allow a talented pitcher like Cole to pitch in a walk year and just leave.
Pump there break there chief, as far as I know there is plenty of time to work out a deal. And where are you getting this info that they are going ‘cheap’ with him? Perhaps its prudent to wait for the season to start to give him an extension to avoid the luxury cap hit.
Very happy for Ryan Madson. Story’s incomplete with the 1 year deal, above many ex-Phils, I wish him the best parlaying it to even better heights. Story is complete enough to conclude he did the right thing in getting out from this management team, and pursuing a closing gig.
If I hear/read/see one more humankind say there’s plenty of time to long term Cole, I’s a screaming. Pleanty of time went out the door last spring. They may shockingly be right not to fork over millions, maybe they know something I don’t. But don’t feed us this plenty of time nonsense. You either like the dude, or you don’t. How long do you think it would take the Yanks to decide if they wanted him? They already decided before I finished the question.
STRIKE 3! Save number 40 for Ryan Madson, and this one belongs to the Reds!
I completely agree with you about Cole, especially since his asking price is only going to go up the longer that the Phillies wait. Honestly I am starting to get some fears the Phillies may just let him go, in which case they probably [I]SHOULD[/I] try to trade him now and see what kind of prospect haul they could get back.
Agreed they missed their prime chance last spring. But from a business sense, I’m not surprised they are dragging their feet now. In all honesty, do you think they are wanting to dole out a huge contract immediately after a career year for a young pitcher (insert Phillies contract jokes over the past few years)? I for one am not sure the best road to take with him now, as I would have locked him up already, but biding their time to see where they are at with 2012 and how that shapes up might be the deciding factor in how to proceed with Cole. And if Cole isn’t matching his career peripherals early on, that’s just a tad more gentle for the team to work out a contract.
Glad that at least Ryan didn’t sign with a team I despise like the Cardinals,Yankees, or those freaking Nationals who seem to have some sort of love affair with Boras.
That being said, I absolutely HATE this new CBA and i’m still raging mad about losing our First Round Pick all because Ruben couldn’t freaking wait a few more days to see how the CBA effected pick compensation. So basically we have nothing besides a sandwich pick for the second consecutive season, and this new luxury tax system is going to choke teams like the Phillies more than the old luxury tax would have.
We all know that the Phillies have done a good job of drafting by paying overslot for talented prospects in later rounds, but now there’s a heavy penalty for going over the slot recommendations, and this combined with a lack of a First Rounder is really going to hurt come draft day this summer.
I hate being such a downer, but this new CBA really pisses me off because how much it may effect the Phillies success in upcoming years unless they can adjust and take advantage of any remaining loopholes that are left.
You know this year is an elction year, and it appears Phils pitching coach Rich Dubee is contemplating a career change. He was on MLB Network Radio today on some highlight audio that I assume was from earlier today and spoke of pure greatness on Ryan Madson as a closer. Compared him to Trevor Hoffman, for criyn’ out loud. Same Rich Dubee who led the pro Contreras bridage when Lidge went down asking sarcastically if Madson had taken a pill learning how to close.
I’m not so shortsighted that I forget some of the games Madson failed to close earlier in his stint. And that’s including the latitude of maybe there were reasons that were not related to poor pitching. But the fact is the debate, perhaps ridiculous as it was seems well finalized after this year, and Dubee had his chance to speak up before Papelbon was jumped all over. Maybe he did, but I doubt it. And Ruben was seen on tape saying Madson would be a fine closer for someone. He, too, was semingly slow to apprecaite the guy, but made that political comment. Maybe these guys will run on the same ticket.
Sometime back, Eric wrote an article talking about the struggle (if he used that word) of separating analyst, and fan. Eric, of course is both. I’m half of that. But I struggle at times with the struggle being do I root for the front of the uni, or the back. I was beyond pissed when Bowa was traded for DeJesus, le alone the way that throw in’s career worked out. Eric mentioned a good luck wish to Madson except when he faces the Phils. I’ll be on board with that at some point. But the first time Madson faces the Phils, I’ll leave it up to a real time natural feel, but for now, you won’t hear me complain if he records a helluva save. I guarantee you he’ll have a huge chip on his shoulder. It’ll be fun to observe to what extent he discusses that as early as his press conference, which I assume they will have.
This is all quite amusing as ESPN mlb page discusses a difference between RAJ’s and Boras’ interpretation of the Madson contract discussions. The only thing one can trust is that Ryan Madson was a terrific Phillie pitcher and was well deserving of strong fan support for his philanthropic activities in the city and for his stellar performances on the mound. It is difficult to say goodbye to a worthy performer.
Meanwhile, I simply can’t believe Boras lines as he deftly maneuvers around the fact that was there or was there not a contract on the table. I simply don’t see why RAJ has any reason to falsify matters when if anything, he is constantly in a hurry to do the “close.” Whatever the facts, I think Boras is no very thin ice here. Moreover his explanation of the closer market is woefully remiss in mentioning the cost of a closer seems to be coming down despite Papelbon’s contract – which let’s not get to crazy about 1 to 2 million more per year than locking up another top closer. For heaven’s sake, I would venture to say that the Phillies have already sold that much in No. 58 jerseys !!!! and will continue to do so. As for Madson, good luck to him, he is a very fine pitcher. As for a future contract of longer term, he has set himself up to do that after he finishes the “pillow” contract for one year that Boras calls it. Hopefully some other team will be willing to pay 10 million per year and then, maybe not…its called risk.
That, like many of the reads around here, was really good. Fair, objective, gentlemanly. Thanks, Smitty. Enjoyed the assessment.
Smitty,
Revenues from baseball merchandise sales are split evenly among the 30 teams, so it will take a lot of Papelbon jersey sales to net the Phils the extra $1M to $2M per year that they are overpaying Paps. Even if the Phils were to receive all of the revenues from the sales, the extra revenue would only be relevant in assessing the the impact of overpaying Papelbon if the Phils plan to exceed the luxury tax threshhold. If they’re not going to pay the taxman, there may be cause to go crazy over $1M to $2M because that extra money may already have prevented them from signing someone better than Laynce Nix to get ~300 PA’s next year. Further, when combined with overpaying others, the $1M to $2M may be part of them not being able to extend Cole Hamels.
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