Ramirez, Madson primed to be overpaid

November, 10, 2011
11/10/11
3:34
PM ET
While this offseason’s free agency class is headlined by the likes of Albert Pujols, Prince Fielder and Jose Reyes, there are a number of secondary options who stand to receive lucrative contracts in their own right. Two of them – third baseman Aramis Ramirez and reliever Ryan Madson – are likely to be a bit overvalued by suitors, but for entirely different reasons.

Aramis Ramirez
Aramis Ramirez
Ramirez
While Ramirez rebounded from a replacement level 2010 campaign to post a .306/.361/.510 line with 26 home runs and 93 RBI, there were indicators across-the-board that point towards a potentially quick decline for Ramirez, a concern relevant to any team interested in signing him.

Ramirez is becoming increasingly less patient as the years go by, both in the form of chasing pitches outside of the strike zone and in generating walks. In 2010 and 2011, Ramirez has posted walk rates of 6.7 and 6.9 percent, respectively, representing a clear decline from his 11.2 percent mark in 2008 and 8.2 in 2009. Perhaps more telling, the rate at which Ramirez is swinging at pitches outside of the strike zone is rapidly increasing since 2008.

In addition to the steady increase, Ramirez’s 2011 mark was the 5th-worst in the NL in 2011, behind only Alfonso Soriano, Alex Gonzalez, Yuniesky Betancourt and Michael Morse. Coupled with the decline in his plate discipline is the idea that he is not long for third base defensively. After posting a +11 mark at the hot corner according to Defensive Runs Saved in 2008, Ramirez has been below-average in each season since – and there’s a pattern; Ramirez graded out at -4 in 2009, -10 in 2010 and -12 in 2011. The 2011 mark ranked 2nd-to-last among NL third basemen.

Ryan Madson
Madson
Madson
This offseason, Madson is one of the most coveted free agent relievers in baseball. That was to be expected, fresh off his first full season as the Philadelphia Phillies closer, complete with 32 saves and a 2.37 ERA in 60 2/3 innings. Whether or not the reported lucrative deal with the Phillies materializes, someone will pay Madson. The reason he stands to make $40 million or more this offseason has little to do with a significant jump in his skills, however, and more to do with the fact he now has the official ‘closer’ label.

In 2010, Madson posted five saves. In 2011, he registered 32. That would seem to indicate a noticeable jump in value or performance from Madson. In reality, he was nearly identical, with some actual decline in key spots.

The difference was largely in an unsustainable home run rate – Madson allowed home runs on 0.9 percent of plate appearances, which was the 16th-best mark out of the 339 pitchers who registered at least 200 plate appearances this season. Had Madson entered the market after 2010 – when he demonstrated much the same skill set he did in 2011 – he would likely not have been offered anything approaching $40 million.

Whether or not offering a reliever that sort of money is a wise proposition is a different question entirely. In the history of the game, six relievers have received contracts of three or more years at an average annual value of at least $9 million – B.J. Ryan, Billy Wagner, Francisco Cordero, Mariano Rivera, Francisco Rodriguez and Rafael Soriano. It would be fair to say that only Rivera returned the sort of performance expected.

Rafael Soriano: signed after 2010 season; posted highest ERA (min 30 IP) since 2002 and missed much of the season due to injury.

Francisco Rodriguez: signed after 2008; 62 saves in final year with Los Angeles Angels, never saved more than 35 with New York Mets. Suspended in 2010, traded in 2011 to avoid vesting option.

Mariano Rivera: signed after 2007; posted ERA below 2.00 in each season of contract.

Francisco Cordero: signed after 2007; strikeout rate dropped from 10.0 to 7.8 to 7.3 to 5.4 over life of deal. Posted an Expected Fielding Independent Pitching (xFIP) below 4.00 once during contract (2008).

Billy Wagner: signed after 2005; innings pitched and saves both declined each season he was with Mets.

B.J. Ryan: signed after 2005; Just 155 1/3 innings pitched in 5 seasons; missed majority of three different seasons (2007, 2009, 2010).

Clearly, the Phillies, or any other team, may give pause to signing Madson, or any other reliever, to such a lucrative contract given the history of performance for those who have received such a contract in the past.

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