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Dodgers Sign Teoscar Hernandez

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The Dodgers have continued their free agent spending spree, announcing a one-year, $23.5MM deal with outfielder Teoscar Hernandez.  Only $15MM of that salary will be paid to Hernandez this year, as the rest is deferred and will be paid out in installments from 2030-39.  Hernandez is represented by Republik Sports.

Reports about the Dodgers’ interest in Hernandez surfaced soon after the free agent market opened back in early November, and L.A. maintained that interest all the way up until today’s agreement.  The Dodgers were known to be still be looking for a right-handed bat, and they’ve now addressed that need in a big way with a former All-Star and Silver Slugger who has hit 147 home runs over 3002 plate appearances since the start of the 2018 season.

After a string of productive years with the Blue Jays, Hernandez was dealt for Erik Swanson and Adam Macko last offseason, and Hernandez’s move to Seattle resulted in a downturn in his production.  While he still went yard 26 times, Hernandez batted only .258/.305/.435 over 678 plate appearances, and his 105 wRC+ was well below his 133 wRC+ from 2020-22.  Since Hernandez’s underlying metrics were largely the same as his career norms, it seems possible that the biggest culprit was simply T-Mobile Park.  Hernandez hit only .217/.263/.380 in the Mariners’ home ballpark last season, as opposed to a much stronger .295/.344/.486 slash line on the road.

While Dodger Stadium has something of a pitcher-friendly reputation itself, it stands to reason that the 31-year-old Hernandez might get back on track in a new environment, and this one-year deal might reflect his desire to re-establish himself before committing to a longer-term contract.  MLB Trade Rumors ranked Hernandez 12th on our list of the winter’s top 50 free agents and projected him for a four-year, $80MM deal, under the logic that the offseason’s lack of premium bats would still lead to a big contract for Hernandez even in the wake of an underwhelming 2023 campaign.

It could also be the case that Hernandez was open to a one-year pact specifically to join the Dodgers, as the outfielder is now joining arguably baseball’s most loaded lineup.  Los Angeles already racked up plenty of runs in their 100-win 2023 campaign, and that powerful collection of position players has now added Shohei Ohtani to the DH spot and Hernandez to a corner outfield role.

Hernandez now gets to join a contender and possibly win a World Series ring, while ideally posting a better platform year that would allow him to score a big multi-year contract next winter.  The Angels and Red Sox were two other teams known to be in the running for Hernandez’s services, and reporter Francys Romero and MassLive.com’s Chris Cotillo (X links) each relayed that those teams had interest in the outfielder on two-year deals.  In Boston’s case, Cotillo wrote that the Sox were interested in something akin to a two-year, $28MM pact.

Hernandez now looks to be the Dodgers’ everyday option primarily in left field, though he could slide over to right field when a left-hander is on the mound (thus sending Jason Heyward to the bench).  L.A. is still perhaps a little unbalanced with left-handed hitters in its first-choice lineup, yet Hernandez now joins Mookie Betts and Will Smith as big righty swingers, plus the Dodgers have other right-handed bats in Chris Taylor, Manuel Margot, and Miguel Rojas available off the bench.

Margot was also recently acquired as part of the Tyler Glasnow trade with the Rays but is known more for his defense than his bat.  Taylor can fill in at multiple positions, and his hitting also became a question mark after a down year in 2022, though he did bounce back with a 104 wRC+ over 384 PA last season.  Having Taylor as a supersub around the diamond is perhaps a better use for his skillset than a regular spot in left field, even if defensive metrics have been mixed at best about Hernandez’s outfield glovework during his career.

Hernandez has never drawn many walks during his career, and his high strikeout totals add even more swing-and-miss to a team that already saw Taylor, James Outman, Max Muncy, and even Ohtani rank well below the league average in strikeout rate in 2023.  Still, the relative lack of contact is something of a minor flaw compared to the huge upside provided by the Dodgers’ overall offensive attack.

The deferred money will lower the luxury tax number on Hernandez’s $23.5MM salary, but his signing represents yet another big expenditure for a Los Angeles team that has basically lapped the rest of the league combined in offseason spending.  Led by Ohtani’s $700MM deal and Yoshinobu Yamamoto’s $325MM contract, the Dodgers have now spent slightly under $1.067 billion on free agents alone this winter, to say nothing of the extra money taken on when L.A. acquired and then extended Glasnow.  As per Roster Resource, the Dodgers’ tax number for 2024 now sits at roughly $302.32MM, well over the Competitive Balance Tax’s highest penalty threshold of $297MM.

Even with the luxury tax bill continuing to escalate, there is little reason to think L.A. is done making moves, as starting pitching continues to be a need even after adding Yamamoto and Glasnow.  More signings obviously can’t be ruled out, or the Dodgers could move more young talent in other trades for another starter.  The sky is basically the limit for Los Angeles at this point, as the Dodgers have outpaced even their usual high-spending ways (with the many deferrals kicking the financial can down the road to some extent) in building a veritable superteam with Ohtani, Betts, Yamamoto, and Freddie Freeman among the cornerstones.

Reporter Moises Fabian (via X) was first with the news that Hernandez had signed with Los Angeles, and ESPN’s Jeff Passan (X links) reported details about the one-year term, the salary, and the deferred money.

Photo courtesy of USA Today Sports Images

Dodgers Could Be Considering Tommy Pham

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Tommy Pham could be one of Dodgers’ targets as the team looks for a right-handed hitting outfielder, MLB.com’s Juan Toribio writes.  The L.A. lineup is heavy on left-handed batters overall, and another righty bat might be needed in the outfield in particular with James Outman and Jason Heyward slated for the bulk of at-bats in center and right field.  Chris Taylor and Manuel Margot (both righty swingers) will be in the mix for left field work and, in Margot’s case, more of a general backup role.  Prospect Miguel Vargas will also get a look in left field, yet adding a more proven bat to this group would only enhance what is already a loaded Dodgers roster.

Pham has been on the Dodgers’ radar before, and would come at a lower cost than another rumored Los Angeles target in Teoscar Hernandez.  Pham is coming off another productive season that saw him hit .256/.328/.446 with 16 homers over 481 combined plate appearances with the Mets and Diamondbacks, and he hit very well for Arizona in the NLDS and World Series.

Six Teams Interested In Ryan Brasier

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Free agent reliever Ryan Brasier is drawing interest from at least six different teams, according to Derrick Goold of the St. Louis Post-Dispatch and Jon Heyman of the New York Post.  Goold writes that the Cardinals and Dodgers are involved in the market, while Heyman writes that the Angels, Cubs, Orioles, and Rangers also have interest.

Brasier has already pitched for both Los Angeles teams, as he made his MLB debut with nine innings for the Angels back in 2013 and then seemingly got his career back on track with the Dodgers last season.  The right-hander posted a 6.16 ERA over 83 1/3 innings with the Red Sox in 2021 and in the first two months of the 2022 campaign before he was released, and then signed to a minor league contract by the Dodgers in June.

Secondary metrics (especially in 2022) indicated that Brasier was pitching better than his ERA would indicate, and the turn-around came once he donned Dodger Blue.  L.A. selected Brasier’s contract in late June and he was almost untouchable the rest of the way, posting an 0.70 ERA over 38 2/3 innings out of the Dodgers’ bullpen.  Brasier had a 26.6% strikeout rate, 7% walk rate, and 51.1% grounder rate as a Dodger — all major improvements over his numbers in Boston last year, though Brasier also enjoyed a .183 BABIP in Los Angeles, as opposed to a .344 BABIP with the Red Sox.

As The Athletic’s Chad Jennings explored in August, Brasier started throwing a cutter for the first time in his career and the results were immediate.  Not only did batters hit only .152 against Brasier’s new offering, he noted that “having another pitch to get guys off certain other pitches.  But (while) working on the cutter, some other stuff started to come back.”

The cutter’s effectiveness adds yet another wrinkle to the up-and-down nature of Brasier’s career.  After his cup of coffee with the Angels in 2013, he didn’t return to the majors until 2018, as the righty spent the interim years pitching with the Athletics’ Triple-A team and with the Hiroshima Carp in Japan.  Brasier returned to North America by signing a minors deal with the Red Sox in 2018, and he unexpectedly emerged as a key bullpen weapon for the eventual World Series champions.  Brasier had a 1.60 ERA over 33 2/3 regular-season innings for the Sox that season, plus a 1.04 ERA in 8 2/3 postseason frames.

The remainder of Brasier’s time in Boston was much shakier, as he ended up with a 4.55 ERA over his 209 2/3 career innings in a Red Sox uniform.  As he now enters his age-36 season, however, Brasier again seems like an intriguing relief option given how well he pitched with the Dodgers.  His age and somewhat inconsistent track record could limit him to a one-year contract, yet with so much interest in his market, Brasier might be able to land some type of option for the 2025 season depending on how sold teams are with his late-season performance.

Yankees Interested In Dylan Cease

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The Yankees were connected yesterday to free agent Blake Snell but it appears they are exploring the trade market as well. Ken Rosenthal of The Athletic reports that the Yankees, and the Orioles, have “sincere” interest in Dylan Cease. The O’s were previously connected to Cease and Roch Kubatko of MASNsports.com reported earlier this week that they “remain engaged” with the White Sox. Rosenthal adds that the Dodgers, Cardinals and Red Sox, all previously reported to have interest in Cease, are possibly still in the mix, with other clubs perhaps involved as well. The Braves and the Reds, who once had interest in Cease, appear to have moved on to other targets with Atlanta trading for Chris Sale and the Reds signing Frankie Montas and Nick Martínez.

Rumors have been flying around Cease all winter but he remains on the White Sox for now. About a month ago, it was reported that the White Sox were “pulling back” on the Cease talks. That wasn’t to take him off the market, but rather that the Sox wanted to wait until Yoshinobu Yamamoto signed to find out if clubs that missed on him would pivot to Cease as a fallback.

With the interest from the Yankees, that would appear to be exactly the case. They were one of the clubs that was heavily connected to Yamamoto before he signed with the Dodgers, leaving the Yanks looking elsewhere. They have considered Snell as well as free agent Jordan Montgomery but are checking in on Cease as well.

For the Yanks, they have Gerrit Cole cemented into the top spot of their rotation but things get less clear after that. Carlos Rodón and Nestor Cortes have the potential to be excellent contributors but both of them struggled badly in 2023, both with injuries and poor performance. Clarke Schmidt will likely be in the mix towards the back of the rotation, but the club subtracted from its depth in the Juan Soto trade, as Michael King, Drew Thorpe, Jhony Brito and Randy Vásquez are all Padres now. Adding another starting pitcher, and having Rodón and Cortes bounce back a bit, would give the club a very strong front four, with Schmidt likely in the five spot and pitchers like Clayton Beeter, Yoendrys Gómez, Luis Gil and Will Warren providing the depth.

Cease would upgrade any rotation in the league, despite a relative down year in 2023. He had a 2.20 earned run average in 2022 but that figure jumped to 4.58 last year, though his underlying numbers paint a less drastic picture. His 2022 success wasn’t likely to be sustainable anyway, given his .260 batting average on balls in play and 82.3% strand rate, both of which are on the lucky side. Those numbers moved to .330 and 69.4% in 2023, pushing some extra runs across. His strikeout and swinging strike rates did tick down slightly but were both still well above average. His 3.10 FIP in 2022 jumped to 3.72 in 2023, suggesting a far less concerning shift, while his SIERA went from 3.48 to 4.10.

Looking at the past three years as a whole evens out some of that luck and paints and an incredibly flattering portrait. He’s made 97 starts since the start of 2021 with a 3.54 ERA and 29.8% strikeout rate. The 10.1% walk rate is on the high side but his 12.6 wins above replacement from FanGraphs in that time puts him eighth among all MLB pitchers.

His appeal goes beyond his skills, as his earning power is still capped by the arbitration system. MLBTR contributor Matt Swartz projects Cease for a salary of $8.8MM this year and he will be due a raise in 2025 before reaching free agency.

The Yankees currently have a competitive balance tax figure of $290MM, according to Roster Resource. They are set to pay the tax for a third straight year in 2024, which sets them up for escalating penalties. They are already above the third tier of $277MM and nearing the fourth and final tier of $297MM. That means they are facing a tax rate of 95% on current spending until they go over the last line and then have a 110% rate on spending from there.

Signing a player like Snell or Montgomery would likely require the Yanks to give out a salary of around $25MM or more, with the taxes effectively doubling that. Given that Cease will be making around a third of that salary figure, that would obviously make him more attractive.

But the flip side of that equation is that Cease will also require sending something to the White Sox in return, likely a very significant package of talented young players. The Yanks just sent away a big batch of young pitchers in the Soto deal and may be reluctant to make another sizable dent in their talent pipeline. As for what the Sox would be looking for, Rosenthal says they are “staying open-minded” and “not necessarily inclined to favor a team that could include major-league-ready pitching.”

With the O’s also having “sincere” interest, they might have an edge on the Yankees in terms of having the talent to get a deal done. Despite constantly graduating prospects to the major league level in recent years, they are still considered to have the top farm system in the league by many evaluators. Jackson Holliday is almost certainly untouchable but the club also has guys like Colton Cowser, Coby Mayo, Jordan Westburg, Samuel Basallo, Heston Kjerstad and Joey Ortiz without enough open positions for all of them.

The club has also shown a bias against bold moves, both in the trade market and free agency, which is why they have that loaded farm system and almost no money on the books. If they decide now is the time to strike, Cease would fit nicely into a rotation with lots of talent but limited experience. Kyle Bradish and Grayson Rodriguez are at the top of the rotation for now, after each showed encouraging signs in 2023, but Bradish has less than two full years in the big leagues and Rodriguez less than one. Then there’s John Means, who has hardly pitched in the last two years due to Tommy John surgery, and guys like Dean Kremer and Cole Irvin options for the back end.

As mentioned, clubs like the Dodgers, Cardinals and Red Sox may still be involved and that might not even be the extent of the market. But with Yamamoto off the board, it seems the pitching market is broadly heating up and a Cease trade could happen at any time now.

MLBTR Podcast: Yamamoto Fallout, the Sale/Grissom Trade and Transaction Roundup

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The latest episode of the MLB Trade Rumors Podcast is now live on Spotify, Apple Podcasts, and wherever you get your podcasts! Make sure you subscribe as well! You can also use the player at this link to listen, if you don’t use Spotify or Apple for podcasts.

This week, host Darragh McDonald is joined by Anthony Franco of MLB Trade Rumors to discuss…

Check out our past episodes!

The podcast intro and outro song “So Long” is provided courtesy of the band Showoff.  Check out their Facebook page here!

Brewers Acquire Bryan Hudson From Dodgers

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12:20pm: The Dodgers have announced the deal, per Fabian Ardaya of The Athletic, with the Brewers sending lefty Justin Chambers and a player to be named later in return. Chambers is just 18 years old, having been selected in the 20th round of the 2023 draft. He didn’t make an appearance in affiliated ball after that draft selection.

12:05pm: The Brewers are acquiring left-hander Bryan Hudson from the Dodgers, according to Robert Murray of FanSided. The lefty was designated for assignment two weeks ago. DFA limbo is normally capped at one week but that clock is paused for the week between Christmas and New Year’s. It’s unclear what the Dodgers are receiving in exchange. Milwaukee’s 40-man roster count is up to 39.

Hudson, 27 in May, made his major league debut last year with 8 2/3 innings for the Dodgers. He allowed seven earned runs in that time, leading to an unsightly 7.27 ERA, though that’s obviously a miniscule sample size. He spent most of the season in Triple-A, tossing 55 2/3 innings with 2.43 ERA. He struck out 35.7% of batters faced while giving out walks at a 10.8% clip and keeping 46.7% of balls in play on the ground.

Grounders have consistently been a part of his game, going all the way back to his Rookie ball days. Those strikeouts are a fairly new development, however, having shot up in the past two years. He also struck out 29.7% of batters faced in 2022, splitting his time between Double-A and Triple-A while in the Cubs organization.

The ability to both strike hitters out and keep the ball on the ground when they do make contact is enticing and appears to have caught the attention of the Brewers. Hudson still has a couple of option years remaining, so he can serve as a depth piece for the bullpen in Milwaukee. Their southpaw relief corps is currently headlined by Hoby Milner, with Ethan Small and Clayton Andrews also on the roster, though Hudson will now jump into that group as well.

Yamamoto’s Opt-Out Dates Are Conditional On Elbow Health

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The Dodgers signed NPB star Yoshinobu Yamamoto to a 12-year, $325MM deal that set the record for the largest pitching guarantee. That included a pair of opt-out chances for the 25-year-old righty. He could be in line for an even loftier deal a few years down the line if he continues to perform like a top-of-the-rotation starter against MLB competition.

Ken Rosenthal of the Athletic first reported that Yamamoto would be able to opt out of the contract after the 2029 and ’31 seasons. According to the Associated Press, that’s in part conditional on the pitcher’s arm health in the first six years of the deal. If Yamamoto undergoes Tommy John surgery or spends 134+ consecutive days on the injured list with a right elbow concern between 2024-29, his opt-out chances would be delayed until following the 2031 and ’33 seasons. In the absence of that significant of an elbow injury, he’d be able to opt out after 2029 and ’31 as initially reported.

Interestingly, the contract also includes an opt-out provision designed to keep him from being traded. The AP reports that if the Dodgers trade Yamamoto, that would vest an opt-out clause that’d allow him to become a free agent at the end of that season. While it’s not true no-trade protection, it makes it very difficult to deal him. Any acquiring team would have to account for the possibility that Yamamoto leaves the following winter.

Of course, the Dodgers didn’t sign Yamamoto with any intention of trading him in the foreseeable future. They’re going to be all-in for years to come, likely for the entire duration of Shohei Ohtani’s decade-long contract. Ohtani’s willingness to defer $68MM of his $70MM annual salaries afforded the organization more short-term leeway to acquire and extend Tyler Glasnow and to sign Yamamoto.

Yamamoto’s contract contains a massive $50MM signing bonus. The AP reports that he’ll be paid $20MM by the start of February and the other $30MM by July 1. His annual salary structure breaks down as follows:

  • $5MM in 2024
  • $10MM in 2025
  • $12MM in 2026
  • $26MM annually from 2027-29
  • $29MM annually from 2030-31
  • $28MM annually from 2032-35

He’ll thus be paid $155MM over the next six seasons. If he doesn’t incur a serious elbow injury, he’d be weighing whether to opt out of six years and $170MM once the 2029-30 offseason arrives. Were Yamamoto to suffer an elbow injury within the first six years and opt in after the 2031 and ’33 seasons, the Dodgers receive a $10MM option (no buyout) covering the 2036 season, the AP reports.

The salary breakdown does not affect the contract’s average annual value. The deal counts for approximately $27.08MM each year from a luxury tax perspective. The Dodgers also owe a $50.625MM posting fee to Yamamoto’s former team, the Orix Buffaloes, though that is separate from the CBT calculation.

Dodgers Designate Bryan Hudson For Assignment

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The Dodgers announced that left-hander Bryan Hudson has been designated for assignment.  The move opens up roster space for Yoshinobu Yamamoto, whose 12-year, $325MM deal with Los Angeles was made official this afternoon.

Hudson made his Major League debut this season, appearing in six games for L.A. and posting a 7.27 ERA over 8 2/3 innings of relief work.  It was a big milestone in Hudson’s eight-year pro career, which began when he was a third-round pick for the Cubs in the 2015 draft.  The 6’8″ Hudson pitched in Chicago’s organization until last winter, when he joined the Dodgers on a minor league contract.

The 26-year-old is a grounder specialist, regularly posting groundball rates north of 50% during his time in the minors.  However, Hudson’s groundball rates have dropped to around 46.5% at the Triple-A level over the last two seasons, as he has added a lot more strikeout ability to his arsenal.  After posting mostly uninspiring strikeout totals for much of his career, Hudson jumped to a 28.4% strikeout rate with Chicago’s Triple-A club in 2022, and then an even more impressive 35.7K% in 55 2/3 frame with Triple-A Oklahoma City last season.

While his 10.92% career walk rate indicates some wildness in Hudson’s game, his ability to rather drastically increase his ability to miss bats is a positive development, particularly since he is still able to generate grounders at an above-average rate.  This skillset isn’t unlikely to go unnoticed on the waiver wire, so there’s a decent chance a bullpen-needy makes a claim on Hudson while he is in DFA limbo.

Dodgers Sign Yoshinobu Yamamoto To 12-Year Deal

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For the second time this month, the Dodgers have made a record-setting free agent strike. Los Angeles announced the signing of Yoshinobu Yamamoto to a 12-year contract. The NPB star lands a reported $325MM guarantee, an all-time high for a pitcher. The deal comes with a near-$51MM posting fee to the Orix Buffaloes of Nippon Professional Baseball, bringing the overall commitment north of $375MM. Yamamoto is represented by Wasserman.

“I’d like to thank everyone in the Orix organization, the Dodger organization and all the people close to me who have given me so much support throughout this free-agent process,” Yamamoto said in a statement released by the team. “I am truly excited to wear Dodger Blue and can’t wait to play in front of a packed Dodger Stadium.”

Yamamoto receives a massive $50MM signing bonus and a pair of opt-out opportunities. Those are conditional on the status of his elbow but would allow him to retest free agency after the 2029 and ’31 seasons if he stays healthy. If he doesn’t incur a serious elbow injury, he’d be weighing whether to opt out of the last six years and $170MM once the 2029-30 offseason arrives. The deal does not contain any deferred money.

The right-hander has been the best pitcher in Japan for the past few seasons. He spent parts of seven years with the Buffaloes. By his age-20 campaign, he’d emerged as one of the top pitchers at the second-highest level of professional baseball in the world. Yamamoto turned in a 1.95 ERA that season, kicking off a run of five straight years allowing no more than 2.20 earned runs per nine.

That includes sub-2.00 ERA showings over his final trio of seasons. Yamamoto has won the Sawamura Award as Japan’s best pitcher in all three years. He worked to a 1.39 ERA over 193 2/3 innings in 2021, followed by a 1.68 mark in 193 frames the next season. Yamamoto somehow turned in an even better year in his final season, pitching to a microscopic 1.21 ERA through 168 frames.

Among NPB pitchers to reach 100 innings, Yamamoto’s ERA was more than half a run lower than anyone else’s. (Shoki Murakami finished second with a 1.75 mark in 144 1/3 frames). Only Shota Imanaga, who is also available to MLB teams this offseason via the posting system, topped Yamamoto’s 169 strikeouts. He punched out 26.6% of opposing hitters against a tidy 4.4% walk rate.

It’s about as dominant a body of work as a pitcher can build before he faces any MLB hitters. The elite production is supported by both scouting and quantitive evaluations of Yamamoto’s arsenal. Evaluators are nearly unanimous in projecting him as a high-octane major league starter. Conservative estimates on his upside point to a future as a high-end #2 starter, while other scouts have pegged him as a potential ace.

Eno Sarris of the Athletic recently broke down Yamamoto’s repertoire. He suggested Yamamoto brandishes three plus or better offerings highlighted by a split-finger that should be among the best in the majors. The righty worked in the mid-upper 90s with his fastball in shorter stints during the World Baseball Classic. He also sports a promising curveball and a cutter as his third and fourth offerings, while evaluators praise his athleticism and command.

Yamamoto would have been in high demand even if he were in his late 20s or early 30s, the standard age for a free agent pitcher. That he debuted in NPB as an 18-year-old and was made available via the posting system only adds to the appeal. Yamamoto turned 25 in August, making him the first marquee free agent pitcher that age since Masahiro Tanaka signed during the 2013-14 offseason. He’ll be paid through his age-36 season.

To the extent there are concerns about Yamamoto, they’re limited to his lack of MLB experience and a smaller 5’10” frame. That hasn’t worried many evaluators, though, and they’re clearly not issues for the Dodgers.

Entering the offseason, it was widely believed Yamamoto would land the largest contract ever for a player coming over from NPB. It’d have been a far bolder prediction to peg him for the largest deal of any pitcher in major league history. That’s what he’ll receive, though, setting the mark in both contract length and guarantee. He’s the first pitcher in recent memory to reach even the 10-year mark. The guarantee edges past the $324MM which Gerrit Cole landed with the Yankees during the 2019-20 offseason. Yamamoto’s deal stretches three more seasons than Cole’s does, but his camp is surely pleased with the guarantee record even if it required slightly lowering the annual salary.

The deal comes with a $27.08MM average annual value. Regardless of the precise salary distribution, that’s the relevant factor for the Dodgers’ competitive balance tax picture. That pushes L.A. well into the third tier of luxury tax penalization. Roster Resource calculates the club’s CBT number in the $282MM range.

The Dodgers are set to pay the tax for a third consecutive season. They’re taxed at a 50% rate for spending between $237MM and $257MM, 62% for their next $20MM, and a 95% clip for spending between $277MM and $297MM. (They’ll be taxed at a 110% rate for any dollars above $297MM.) By pushing the Dodgers from around $255MM to $282MM from a tax perspective, the contract adds roughly $18.2MM in tax payments. It also means that future acquisitions will come with an elevated tax height.

On top of the money to Yamamoto and the tax payments, the Dodgers are on the hook for a huge sum to Orix. Under the terms of the NPB/MLB posting system, a posting fee is calculated as 20% of a deal’s first $25MM, 17.5% of the next $25MM, and 15% of further spending. That comes out to $50.625MM which the Dodgers owe to the Buffaloes.

It’s a staggering outlay, one that pushes near the $400MM mark in aggregate. It’s the kind of massive strike the Dodgers envisioned in the wake of the Shohei Ohtani signing. The defending AL MVP deferred $680MM of his $700MM deal until 2034-43. That left plenty of money at the front office’s disposal to fix the starting rotation. With Ohtani unable to pitch until 2025, he signed with a team that only had Walker Buehler and Bobby Miller as locks for the Opening Day rotation.

Within a couple weeks, the Dodgers have constructed a star-studded pitching staff to complement their strong bullpen and loaded lineup. Los Angeles acquired and promptly extended Tyler Glasnow. Adding Yamamoto to the group gives them a potentially elite front four. There’s still some risk. Glasnow and Buehler have concerning injury histories, while neither Yamamoto nor Miller has pitched a full season in MLB. Yet it’s also not difficult to see the path to excellent results regardless of whomever takes the final spot. Ryan Yarbrough, Emmet Sheehan and Michael Grove project as the top internal options, but it’d be foolish to rule out the Dodgers adding a veteran arm to continue their all-in push.

Aggressive as the signing is for L.A., they weren’t meaningfully above their top competitors in the bidding. Martino reports that the Yankees put forth a 10-year, $300MM offer, while the Mets put the same $325MM figure on the table. According to Martino, Yamamoto’s camp had sought opt-out provisions after the fifth and eighth seasons in those discussions. The Giants, Red Sox, Blue Jays and Phillies were also in the running down to the final week.

In the end, it seems Yamamoto preferred the Dodgers to the other clubs that were seriously involved. The Athletic’s Will Sammon reports that the Mets first presented the $325MM offer, which the Dodgers agreed to match. He’ll join Ohtani, Glasnow, Buehler, Mookie Betts, Freddie Freeman and Will Smith on a team that’s likely to enter the 2024 campaign as the most popular World Series pick.

The rest of the clubs will look elsewhere. The Mets seem likely to have a fairly quiet offseason, as they reportedly viewed Yamamoto as a unique free agent based on his youth and talent. They’re not expected to pivot to the next tiers of free agency. The Yankees, Giants, Blue Jays and Red Sox could all still be in play for top-of-the-market talent, either on the rotation front or at other positions. Blake Snell and Jordan Montgomery now stand atop the starting pitching class, while Cody Bellinger is arguably the best remaining overall free agent. The market could also now accelerate for Imanaga, the #2 NPB pitcher who has until mid-January to sign with an MLB team.

Jack Curry of the YES Network first reported that Yamamoto would sign with the Dodgers for more than $300MM. Jeff Passan of ESPN reported the 12-year, $325MM term. USA Today’s Bob Nightengale was first with the $50MM signing bonus, while Ken Rosenthal of the Athletic reported the absence of deferrals. Passan reported the two opt-out possibilities.

Image courtesy of USA Today Sports.

Dodgers Remain Interested In Teoscar Hernandez

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According to independent reporter Francys Romero, the Dodgers are among the teams currently “monitoring” the market for outfielder Teoscar Hernandez, though they are not considered the favorite to ultimately land him. The report comes nearly two months after the club first expressed interest in the slugger’s services at the beginning of the offseason.

Of course, plenty has changed for the Dodgers since that initial report. L.A. has been by far the busiest club of the offseason to this point as they’ve landed top free agents Shohei Ohtani and Yoshinobu Yamamoto while also swinging a trade for and extending right-hander Tyler Glasnow. While the club’s flashiest acquisitions don’t overlap significantly with Hernandez, the Dodgers did acquire outfielder Manuel Margot as part of the Glasnow trade. With Margot now in the fold, the club appears likely to platoon him and veteran Jason Heyward (who re-signed with the club last month) in Hernandez’s native right field which cast at least some uncertainty on the club’s interest in his services.

Given the massive changes to the club’s roster in recent weeks, the Dodgers’ continued interest in Hernandez is somewhat notable even as they aren’t currently considered to be the favorite to land him. With Ohtani locked in as the club’s everyday DH, Heyward and Margot likely to man right field, and James Outman poised to start his sophomore season in center, Hernandez would likely wind up as L.A.’s everyday left fielder if he ultimately signed with the club.

The Dodgers have no established everyday left fielder, though the job is seemingly poised to go to veteran Chris Taylor if an external addition at the position isn’t made. Taylor put together a respectable season in 2023 that saw him slash a league average .237/.326/.420 while splitting time between shortstop, second base, third base, left field, and center field. If Hernandez or another regular outfielder is added, that would allow the Dodgers to keep Taylor in his current role as a semi-regular who shores up the club’s depth all around the diamond.

While the Dodgers sported MLB’s third-best offense last season with a team-wise wRC+ of 116, the club’s production in left field was actually well below average as David Peralta combined with Taylor to start all but 29 games at the position last year. The club’s collective production from left field was just 96, placing them 20th in the majors and bottom-five in the NL for the 2023 season. Hernandez, as a career 117 wRC+ hitter who slashed a whopping .283/.333/.519 from 2020-22, could prove to be a quality middle of the order bat for LA even after a down season in 2023. With that being said, even Hernandez’s diminished 105 wRC+ this past season would represent a fairly notable improvement over Peralta, who slashed just .259/.294/.381 in 422 trips to the plate last year.

That mix of a relatively stable floor and tantalizing upside earned Hernandez the 12th spot on MLBTR’s annual Top 50 MLB free agents list, where we projected him for a four-year, $80MM contract. While that’s far from an insignificant sum, it’s a relative pittance to a club that’s committed over $1 billion total to Ohtani and Yamamoto alone, even as deferred money lowers the present-day financial impact of those deals. RosterResource currently projects the Dodgers for a $286MM payroll in 2024 but they figure have far more flexibility than that franchise-record figure would indicate thanks to the massive deferrals in Ohtani’s contract, which will pay him just $2MM in 2024.

Of course, the Dodgers are far from the only club known to be interested in Hernandez with both the club’s local rivals in Anaheim and the Red Sox among those pursuing the 31-year-old slugger. On the other hand, Hernandez is not the only corner bat available, though he figures to be a better fit for the Dodgers than Jorge Soler thanks to Ohtani’s presence at DH while offering more impact than the likes of Adam Duvall and Tommy Pham.

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