Pitchers and catchers will be reporting to Spring Training in three weeks but there is still a lot of offseason business to be completed. 19 of MLBTR’s Top 50 Free Agents still don’t have agreements in place for 2024, along with many players who weren’t on that list.
Of those 19, six of them are represented by the Boras Corporation. That includes the four top remaining names in Cody Bellinger, Blake Snell, Jordan Montgomery and Matt Chapman, as well as J.D. Martinez and Rhys Hoskins. Boras also represents notable guys that missed the Top 50, such as Joey Gallo, James Paxton, Hyun Jin Ryu and many others.
While most players and agents would prefer to get their offseason business done early, Boras has shown an unusual willingness to wait for the right deal, even if that means it doesn’t come together until very late. Using MLBTR’s Contract Tracker, we can look at all the free agent deals signed by Boras clients going back to October of 2010. Focusing on the ones signed after January ended, we can see if a picture emerges.
Quick sidenote, the cutoff date of the start of February is a simple one but also slightly arbitrary, as Boras has signed some notable deals towards the end of January. Prince Fielder got $214MM in late January 2012, Max Scherzer got $210MM from the Nationals in 2015 and Chris Davis got $161MM from the Orioles in 2016, though those latter two both had significant deferrals. But without further ado, let’s look at the track record of deals that follow the first month of the year.
March of 2023
- Jurickson Profar signs with the Rockies for one year and $7.8MM. MLBTR had predicted Profar for a two-year, $20MM deal at the start of the offseason.
February of 2023
- Elvis Andrus signs with the White Sox for one year and $3MM. He received an honorable mention on MLBTR’s Top 50 that offseason.
March of 2022
- The 2021-2022 offseason featured a large number of late signings due to the lockout. With transactions frozen from the start of December until mid-March, Boras had to quickly work out deals for Carlos Rodón, Yusei Kikuchi, Ian Kennedy, Nick Castellanos, Kris Bryant, Matthew Boyd, Carlos Correa and Zach Davies after the lockout ended. But that was at least partially due to the unusual circumstances and not necessarily about a waiting game played by Boras, so it’s probably not useful to look at those deals for this exercise.
March of 2021
- Jackie Bradley Jr. signs with the Brewers for two years and $24MM. MLBTR had predicted Bradley for a two-year, $16MM deal at the start of the offseason.
February of 2021
- James Paxton signs with the Mariners for one year and $8.5MM. MLBTR had predicted Paxton for a one-year, $10MM deal at the start of the offseason.
- Trevor Rosenthal signs with the Athletics for one year and $11MM. MLBTR had predicted Rosenthal for a two-year, $14MM deal at the start of the offseason.
- Jake Arrieta signs with the Cubs for one year and $6MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
- Aaron Sanchez signs with the Giants for one year and $4MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
February of 2020
- Taijuan Walker signs with the Mariners for one year and $2MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
June of 2019
- Dallas Keuchel signs with the Braves for one year and $13MM. MLBTR had predicted Keuchel for a four-year, $82MM deal at the start of the offseason. He had rejected a $17.9MM qualifying offer and was tied to draft pick forfeiture, but waited until after the draft when that no longer applied.
March of 2019
- Bryce Harper signs with the Phillies for 13 years and $330MM. MLBTR had predicted Harper for a 14-year, $420MM deal at the start of the offseason.
February of 2019
- Marwin González signs with the Twins for two years and $21MM. MLBTR had predicted Gonzalez for a four-year, $36MM deal at the start of the offseason.
- Mike Moustakas signs with the Brewers for one year and $10MM. MLBTR had predicted Moustakas for a two-year, $16MM deal at the start of the offseason.
- Brad Boxberger signs with the Royals for one year and $2.2MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
- Jeremy Hellickson signs with the Nationals for one year and $1.3MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
March of 2018
- Greg Holland signs with the Cardinals for one year and $14MM. MLBTR had predicted Holland for a four-year, $50MM deal at the start of the offseason.
- Jake Arrieta signs with the Phillies for three years and $75MM. MLBTR had predicted Arrieta for a four-year, $100MM deal at the start of the offseason.
- Mike Moustakas signs with the Royals for one year and $6.5MM. MLBTR had predicted Moustakas for a five-year, $85MM deal at the start of the offseason.
- Carlos González signs with the Rockies for one year and $5MM. MLBTR had predicted Gonzalez for a one-year, $12MM deal at the start of the offseason.
February of 2018
- J.D. Martinez signs with the Red Sox for five years and $110MM. MLBTR had predicted Martinez for a six-year, $150MM deal at the start of the offseason.
- Carlos Gómez signs with the Rays for one year and $4MM. MLBTR had predicted Gomez for a two-year, $22MM deal at the start of the offseason.
- Eric Hosmer signs with the Padres for eight years and $144MM. MLBTR had predicted Hosmer for a six-year, $132MM deal at the start of the offseason.
- Tony Watson signs with the Giants for three years and $9MM. MLBTR had predicted Watson for a two-year, $12MM deal at the start of the offseason.
February of 2017
- Matt Wieters signs with the Nationals for two years and $21MM. MLBTR had predicted Wieters for a three-year, $39MM deal at the start of the offseason.
- Jered Weaver signs with the Padres for one year and $3MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
March of 2016
- Pedro Álvarez signs with the Orioles for one year and $5.8MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
- Austin Jackson signs with the White Sox for one year and $5MM. MLBTR had predicted Jackson for a one-year, $12MM deal at the start of the offseason.
February of 2015
- Francisco Rodríguez signs with the Brewers for two years and $13MM. Rodriguez was ranked 36th on MLBTR’s Top 50 that offseason, before that post featured specific contract predictions.
- Everth Cabrera signs with the Orioles for one year and $2.4MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
June of 2014
- Kendrys Morales signs with the Twins for one year and $12MM. Morales was ranked 28th on MLBTR’s Top 50 that offseason, before that post featured specific contract predictions. He had rejected a $14.1MM qualifying offer and was tied to draft pick forfeiture, but waited until after the draft when that no longer applied.
May of 2014
- Stephen Drew signs with the Red Sox for one year and $10.1MM. Drew was ranked 14th on MLBTR’s Top 50 that offseason, before that post featured specific contract predictions. He had rejected a $14.1MM qualifying offer and was tied to draft pick forfeiture, but re-signed with his previous club.
March of 2014
- Óliver Pérez signs with the Diamondbacks for two years and $4.3MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
February of 2014
- Francisco Rodríguez signs with the Brewers for one year and $3.3MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
- Jeff Baker signs with the Marlins for two years and $3.7MM. He wasn’t listed on MLBTR’s Top 50 that offseason.
March of 2013
- Kyle Lohse signs with the Brewers for three years and $33MM. Lohse was ranked 10th on MLBTR’s Top 50 that offseason, before that post featured specific contract predictions.
February of 2013
- Michael Bourn signs with the Guardians for four years and $48MM. Bourn was ranked 3rd on MLBTR’s Top 50 that offseason, before that post featured specific contract predictions.
February of 2012
- Edwin Jackson signs with the Nationals for one year and $11MM. Jackson was ranked 6th on MLBTR’s Top 50 that offseason, before that post featured specific contract predictions.
February of 2011
- Johnny Damon signs with the Rays for one year and $5.3MM. Damon was ranked 47th on MLBTR’s Top 50 that offseason, before that post featured specific contract predictions.
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A few caveats need to apply here for context. Many of these older deals were impacted by the previous qualifying offer system, wherein a signing club would have to forfeit a first-round draft pick and a player could receive multiple QOs in his career. This was changed going into the 2017 season, with players capped at one QO in their career and the draft pick forfeiture moved back, depending on a club’s revenue-sharing or competitive balance tax payor status. Since that time, the QO seems to have had less of an impact on free agents.
Even with those caveats in mind, the data doesn’t paint a rosy picture of playing the waiting game, at least relative to the expectations from the start of the offseason. Most guys on this list settled for a lesser contract than was predicted, either in terms of guarantee or AAV or both. Guys like Harper and Hosmer still got really strong contracts, but Harper’s was clearly below projections while Hosmer’s deal stretched the years to get a larger guarantee but less AAV. The results for guys like Keuchel, Holland and Moustakas (twice) came in well below expectations.
Perhaps the early-offseason offers were even lower for some of these guys and waiting it out was the smart play. It’s hard to know for sure without having details of those discussions, which don’t often come to light. But there aren’t many instances of a player waiting until close to the spring and then finding a really amazing deal. That’s likely due to the fact that many clubs have already spent most or all of their budget for the upcoming season by this part of the calendar, or at least they can posture as though that is the case for the purposes of leverage.
That doesn’t necessarily mean the same will happen in the weeks to come, but it will be an interesting situation to monitor for Boras clients as well as any other player. As mentioned, the top four remaining free agents are all Boras guys, but there are plenty of non-Boras guys still available as well. The 13 guys from the Top 50 that aren’t represented by the Boras Corporation are Jorge Soler, Mike Clevinger, Aroldis Chapman, Michael Lorenzen, Gio Urshela, Amed Rosario, Whit Merrifield, Justin Turner, Brandon Belt, Héctor Neris, Jakob Junis, Liam Hendriks and Tim Anderson.