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Yankees Notes: Hernández, Snell, Schmidt

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Utility player Enrique Hernández signed with the Dodgers earlier this week after having reported interest from clubs such as the Giants, Angels, Twins, and Padres. Hernández spoke to Foul Territory about his free agency (video link via X), adding that the Tigers were also interested but that it came down to the Dodgers and Yankees at the end.

The interest from the Tigers was not previously reported, but it seems fair to assume it came before they signed another utility infielder, Gio Urshela. That the Yankees were at the table is not something that was previously reported and would seem to suggest they are open to adding another utility player to their roster.

There are a few different ways Hernández could have been useful off the bench for the Yankees. The club is set to have veterans DJ LeMahieu and Anthony Rizzo at the infield corners, both of whom are now in the mid-30s and struggled with injuries last year. He could have given them some extra cover at those spots while also perhaps getting into the outfield mix in a platoon capacity, pairing with lefty Alex Verdugo.

Hernández hits from the right side and has a career slash of .257/.343/.458 against southpaws, good enough for a 115 wRC+, compared to a line of .228/.290/.377 and 80 wRC+ against righties. Verdugo’s career splits are .290/.346/.461 and 115 wRC+ against righties but .259/.315/.350 and 80 wRC+ versus lefties. Left-hander Trent Grisham is also in the mix but he has reverse splits.

The Yankees project to have a bench of Jose Trevino, Oswaldo Cabrera and Grisham in three spots. That leaves one spot open, which could go to Oswald Peraza, but he has an option and is probably better served getting regular reps in the minors as opposed to sitting on the big league bench.

The club’s interest in Hernández suggests they could sign a veteran to plug into their bench, though there aren’t many proven infield/outfield types unsigned. Donovan Solano hasn’t played the outfield since 2012 while guys like Elvis Andrus or Jonathan Schoop never have. Free agent outfielders like Tommy Pham, Adam Duvall or Michael A. Taylor can’t help on the infield. The Yanks just claimed Jahmai Jones off waivers, who has experience on the dirt and the grass and is out of options, so perhaps they will just turn to him or some other claimee to fill out their bench.

Elsewhere in Yankee tidbits, the club continues to be tied to Blake Snell as the lefty lingers on the market. Recent reporting has suggested Snell may follow Cody Bellinger in pivoting to a short-term deal with opt-outs and high average annual values, though this wouldn’t work well for a club like the Yankees. They are already over the fourth and final tier of the competitive balance tax and face a 110% tax on any additional spending. RosterResource puts their CBT number at $307MM, already $10MM over the $297MM top line.

Hypothetically, if Snell wanted the same $30MM salary as Bellinger this year, the Yankees would also have to pay $33MM in taxes to give it to him. Snell also rejected a qualifying offer, so the Yankees would have to surrender their second- and fifth-highest picks in the upcoming draft and $1MM of international bonus pool space to sign him. Brendan Kuty of The Athletic looked at the situation today and reported that it remains unlikely the two sides will get something done for those exact reasons.

As long as the Yankees don’t sign Snell or any other pitcher, then Clarke Schmidt projects as the number five behind Gerrit Cole, Carlos Rodón, Marcus Stroman and Nestor Cortes. Kuty spoke to manager Aaron Boone about Schmidt, with the skipper highlighting the strong finish to his season. “He never lost confidence,” Boone said. “He never lost focus. Then he put together a really strong 4 1/2 or five months — after Gerrit, he was the guy we could kind of hang our hat on. Hopefully there’s another step in that.”

In his ninth start of the season, Schmidt allowed seven earned runs in 4 2/3 innings against the Rays and had a 6.30 earned run average at that point. But he put up a 4.08 ERA the rest of the way, allowing him to finish at 4.64 for the season overall. The Yanks will be hoping the 28-year-old can take another step forward here in 2024, as they traded away much of their rotation depth in the deal that brought over Grisham and Juan Soto.

Giants Remain Involved On Snell, Chapman

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The Giants continue to explore the markets for Blake Snell and Matt Chapman as March draws near, reports Susan Slusser of the San Francisco Chronicle. One source tells Slusser there’s roughly a 50-50 chance that San Francisco comes away with one of those players.

Snell would address the bigger need, at least in the short term. San Francisco has a patchwork rotation behind Cy Young runner-up Logan Webb. The Giants signed longtime reliever Jordan Hicks to a four-year deal with the promise of a rotation job. Hicks’ personal high in innings at the MLB level is 77 2/3 from his 2018 rookie season. He hasn’t reached the 70-inning mark since then.

The options beyond Hicks are even less established. Kyle Harrison is one of the sport’s most talented pitching prospects, but he has seven MLB games under his belt. The southpaw averaged fewer than four innings per appearance over 20 Triple-A starts a year ago. That was partially to keep his workload in check but also reflected his inefficiency. Harrison struck out an excellent 35.6% of Triple-A opponents but walked upwards of 16% of batters faced.

Webb, Hicks and Harrison are the three locks for the Opening Day staff. Alex Cobb will begin the year on the injured list as he works back from hip surgery. Robbie Ray won’t be ready until around the All-Star Break at the earliest during his rehab from last year’s Tommy John procedure. Keaton Winn and Tristan Beck entered camp with the presumed edge on the fourth and fifth rotation spots. They’ve each been set back by injury during exhibition play. Winn was delayed by elbow soreness, although he maintained over the weekend he expects to be ready for Opening Day. Beck just left the team to undergo testing after experiencing discomfort in his right hand.

A starting five of Webb, Hicks, Harrison, Winn and Beck is already not ideal for a team that hopes to compete for a playoff spot. Losing either Winn or Beck would require dipping further into depth options like Sean Hjelle, Ethan Small, prospect Kai-Wei Teng or a non-roster invitee like Daulton Jefferies or Tommy Romero.

While Snell hasn’t been a consistent source of volume throughout his career, he’s coming off his second 180-inning season. He’d upgrade any rotation and would afford the Giants the luxury of plugging in the top two finishers in last year’s NL Cy Young voting. There’d still be some questions about the staff’s durability, but a top three of Webb, Snell and Harrison would have one of the highest ceilings in the league.

Of course, the question is whether they’ll line up on an agreeable price point. No team has yet met Snell’s ask. Jon Heyman of the New York Post wrote this afternoon that the southpaw may be open to considering a short-term offer that allows him to opt out and retest free agency. Fellow Boras Corporation client Cody Bellinger took that route on a three-year, $80MM pact with the Cubs over the weekend. It’s hard to envision Snell turning in a better platform season than the one he had in 2023, though. He allowed only 2.25 earned runs per nine over the course of the year and turned in a 1.23 mark from June onward.

The Yankees have reportedly had an offer out to Snell for weeks. Heyman reported this morning that his camp spoke with New York brass again yesterday but didn’t have any kind of breakthrough. The Angels have also been loosely linked to Snell.

Chapman, on the other hand, doesn’t play a position of strict need. The Giants have a solid third baseman in J.D. Davis. Were they to land Chapman, they’d likely flip Davis to a team with a more pressing desire for help at the hot corner. President of baseball operations Farhan Zaidi and new manager Bob Melvin both have ties to Chapman from their days with the A’s. He’d markedly upgrade the infield defense, although it’s debatable whether he’s enough of an offensive improvement on Davis to make that move worthwhile.

Zaidi recently suggested the team was unlikely to make any more free agent splashes this offseason. Perhaps that was simply public posturing or the recent health uncertainty surrounding Winn and Beck could change the calculus. In any case, San Francisco should have payroll flexibility. Roster Resource projects their 2024 spending around $164MM. They’re at roughly $213MM in luxury tax obligations. That puts them about $24MM shy of both the base CBT threshold and last year’s Opening Day payroll.

Signing Snell, in particular, would likely push them into luxury tax territory — especially if they added him on a higher-AAV deal to avoid a lengthy commitment. It’d be easier to fit Chapman onto the ledger without going into CBT range, since they’d then have reason to shed Davis’ $6.9MM salary in trade.

The fees for surpassing the luxury tax would be relatively modest if they edged past $237MM. They’d only owe a 20% tax on spending between $237MM and $257MM. The Giants last paid the CBT in 2017. Snell and Chapman each declined the qualifying offer; signing either player would cost the Giants their second-highest pick in the upcoming draft and $500K in international bonus pool space.

Yankees Continue Talks With Blake Snell

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As Blake Snell continues to linger in free agency, speculation regarding him and the Yankees persists. The Yanks reportedly offered the lefty five years and $150MM before pivoting to sign Marcus Stroman on a two-year deal last month. Since then, it’s been reported that the Yankees still have an offer out to Snell, though the shape of that offer is presumably different after signing Stroman and pushing themselves into the top tier of luxury-tax penalization in the process. Whatever is presently on the table doesn’t appear to be a “take it or leave it” type of offer, as the New York Post’s Jon Heyman writes that the Yankees and Snell talked about various contract parameters as recently as yesterday.

Notably, Heyman writes that agent Scott Boras has suggested the possibility of a shorter-term deal with higher annual salaries and opt-out opportunities. That’d be a pivot from Snell seeking maximum guarantees, as has been the case throughout the winter. It’s also not a concept that works well with a team in the Yankees’ situation.

The Yankees are a third-time luxury tax payor who are in the top tier of penalization. Any additional spending at this point will be taxed at 110%. And since the luxury tax is based on a contract’s average annual value, there’s no skirting the issue by backloading a deal. In that sense, dialing up the contract’s AAV only further penalizes the Yankees. The taxes are only part of the issue. New York would also be forfeiting its second- and fifth-highest draft selections, as well as $1MM from next year’s international bonus pool, in order to sign Snell, who rejected a qualifying offer from the Padres.

A longer-term pact that stretches out an agreed-upon guarantee while weighing down the AAV would be more sensible. The Yankees took that approach with DJ LeMahieu in free agency a couple years back, when he inked a six-year deal at a time when a contract around four years was widely expected. There’s no indication such an arrangement is currently being discussed, however, and going longer term on Snell would present the Yankees with its own slate of worrying factors. New York already has Gerrit Cole, Aaron Judge, Carlos Rodon and Giancarlo Stanton under contract through the 2027 season. Each of Cole, Rodon and Judge are on the books through 2028, giving the Yankees $103MM in guaranteed money on the books in a season that’s still four years down the road. Add in the $10MM buyout on Stanton’s 2028 option, and that’s $113MM of considerations for that season.

Furthermore, they’ll very likely wind up tacking an extra year onto Cole’s contract this coming offseason. The reigning AL Cy Young winner has an opt-out in his contract after the ’24 season, but the Yankees can void that by picking up a 2029 club option at $36MM. That’d give the Yanks $76MM on the books as far down the line as 2029; adding Snell on a long-term deal designed to tamp down his contract’s AAV could push them close to or even north of $100MM in commitments a half-decade from the current season. Not only that, but Judge will be 37 that year and Cole will be 38. Snell would be 36. It’d be plenty understandable if the Yankees have some trepidation about locking in $100MM+ in guarantees to three players who’ll be 36 or older in 2029.

Heyman also notes that the Yankees have some interest in fellow lefty and fellow unsigned Boras client Jordan Montgomery, whom they of course originally drafted and developed. However, the Yankees prefer Snell, and the financial hurdles just laid out regarding Snell applies to Montgomery — but on a slightly smaller scale, as he doesn’t have quite the earning power of a two-time Cy Young winner.

Which Of The Boras Four Will Be The First To Sign?

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Spring Training games got underway yesterday. The regular season opens in less than a month. Offseason activity is far from over, though, largely on account of the so-called “Boras Four.” Blake Snell, Cody Bellinger, Jordan Montgomery and Matt Chapman remain unsigned.

Over the past couple weeks, a handful of teams have indirectly suggested they weren’t going to be suitors for the top free agents. High-level executives with the Giants, Rangers, Nationals, Mariners and Twins have downplayed the chance of a free agent strike of note. Angels owner Arte Moreno has suggested payroll is coming down, while Blue Jays GM Ross Atkins indicated they could have to move money if they’re to make another significant acquisition. Others, like the Red Sox and Cubs, appear to be in a holding pattern as they try to wait out the market.

Perhaps there’s some element of public posturing from a few of those teams. If any of these players are close to an agreement, though, there hasn’t been much indication of that. Unsubstantiated reports suggested the Yankees were closing in on a deal with Snell earlier this week, but both SNY’s Andy Martino and Bryan Hoch of MLB.com confirmed there hasn’t been any recent movement on that front.

If the number of plausible suitors for any of this group has dwindled, perhaps a Spring Training injury can change the calculus. The Orioles revealed early in camp that #2 starter Kyle Bradish has a UCL injury that’ll send him to the injured list. Mets staff ace Kodai Senga was diagnosed with a posterior capsule strain in his throwing shoulder yesterday; he’ll also start the year on the shelf. President of baseball operations David Stearns shot down the idea that’d increase the urgency for the Mets to go outside the organization for rotation help.

Again, it’s possible that’s designed not to publicly concede leverage in talks with the Boras Corporation if the Mets did circle back on Snell or Montgomery. To this point, there’s no indication any of these players have meaningfully moved off asking prices from the early part of the offseason. Will that change, or will one of these teams push beyond their comfort zone and reward any of these players’ patience?

Whose market with thaw most quickly? Which of the Boras four is going to be the first to agree to terms? Will any of this group linger in free agency beyond Opening Day?

 

 

Pohlad: Twins “Not In The Market” For Top Remaining Free Agents

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As the baseball world collectively wonders where top-tier free agents like Cody Bellinger, Blake Snell, Jordan Montgomery and Matt Chapman will sign, it seems scarcely a day goes by without at least one team effectively proclaiming itself to be out of that market. The Rangers, Blue Jays, Angels, Giants, Nationals and Mariners have all seen a top baseball ops executive or ownership representative cast doubt on their ability and/or willingness to make further free agent additions of note. Add the Twins to that growing list, as owner Joe Pohlad said in an appearance with WCCO radio’s Jason DeRusha today that his club isn’t likely to make a significant late splash like they did when signing Carlos Correa a couple offseasons ago (audio link).

“…We’re not going to go out and spend $30MM on a player right now,” Pohlad plainly stated without mentioning any of Bellinger, Snell, Montgomery or Chapman by name. “The players that are out there right now that probably a bunch of fans are talking about, we are not in the market for those players.”

Minnesota never looked like a good fit for either of the position players — particularly Chapman — but the Twins are known to be looking for rotation help after seeing Sonny Gray, Kenta Maeda and Tyler Mahle depart as free agents. A late deal with Snell or Montgomery would’ve registered as something of a surprise, given the organization’s candid acknowledgment of plans to reduce payroll amid television uncertainty this winter, but their late entry into the Correa market a couple winters ago might’ve left some to wonder whether a similar approach could be in the offing here. Joel Sherman of the New York Post wrote just yesterday that he “would not discount the Twins as a wild card” for the remaining starters, but Pohlad’s comments today strongly suggest otherwise.

The Twins said early this winter that payroll would likely take a step back, and at the time, Dan Hayes of The Athletic reported a rough target of $125-140MM. Minnesota currently sits just south of that number, at a projected $123.5MM per Roster Resource. It should be noted that Pohlad did not rule out any subsequent additions at all — rather just a big play at the top end of the market.

“…There are definitely other players that can have a positive impact on our team that [president of baseball operations Derek Falvey], I’m sure, is looking at,” Pohlad added.

The Twins, for instance, have reportedly expressed interest in unsigned players like Michael Lorenzen, Adam Duvall and Michael A. Taylor. Signing one or even two of those names would cost considerably less than a run at Montgomery or Snell. They also watched old friend Jake Odorizzi’s recent workout for teams. Falvey and his staff have also never been ones to shy away from trades late in the offseason. Deals to acquire Pablo Lopez (Jan. 23) and Odorizzi (Feb. 17) were both completed well after the New Year in their respective offseasons. The acquisition of Chris Paddack and Emilio Pagan came on the eve of Opening Day in 2022.  It remains possible that some pitching or right-handed-hitting outfield help could be acquired via that market.

Generally speaking, it’s been a quiet offseason for the Twins. They shipped stalwart infielder Jorge Polanco to the Mariners late last month in a deal netting right-handers Justin Topa and Anthony DeSclafani and prospects Gabriel Gonzalez and Darren Bowen. Minnesota netted about $6.5MM in that deal as well and reinvested that money in free agent deals to sign Carlos Santana and Jay Jackson. More recently, they flipped utilityman Nick Gordon to the Marlins for lefty reliever Steven Okert.

Hollander: Mariners Additions Likely To Be “More On The Margins”

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Mariners general manager Justin Hollander met with reporters this afternoon to discuss the possibility of some late-offseason acquisitions. While Hollander — who is second in the Seattle front office hierarchy behind baseball operations president Jerry Dipoto — left the door ajar for anything, he indicated the likelier course of action was to supplement towards the back of the roster.

“You never know. I think this group of players that we have — our 40-man roster as is — we may add on the margins. We may add in a more significant way, but I would expect it’s probably more on the margins than a real significant way based on where we’re at,” Hollander said (link via Daniel Kramer of MLB.com).

The comments come a couple days after Ryan Divish of the Seattle Times reported that the M’s have had internal discussions about Matt Chapman, one of the top four unsigned free agents. Hollander didn’t comment on Chapman — the CBA limits what team personnel are allowed to say regarding specific players — but Kramer writes that the M’s conversations about the third baseman occurred earlier in the month.

There was never any indication that Seattle is deeply involved in Chapman’s market. Kramer reports that the M’s interest has been contingent on the four-time Gold Glover lowering his asking price significantly. According to Kramer, a nine-figure deal for Chapman would be a “non-starter” for Seattle. The MLB.com report indicates the Mariners would be amenable to a shorter-term/incentive-laden contract, although that unsurprisingly hasn’t been of interest to Chapman’s camp at the Boras Corporation.

Third base looks like a relative weak point for Seattle. The Mariners dealt Eugenio Suárez to the Diamondbacks at the beginning of the offseason. They brought in Luis Urías in a small trade with the Red Sox and indirectly addressed the hot corner with last month’s Jorge Polanco deal. Installing Polanco at second base pushes lefty-hitting Josh Rojas over to third, likely in a platoon with the right-handed Urías.

Urías enters camp at a little less than full strength. The Mariners reveled today that he is battling some soreness in his throwing shoulder coming out of winter ball (via Divish). It’s not a serious issue but will keep him from throwing across the diamond in infield drills early in Spring Training.

Hollander downplayed any concern about the third base platoon. Asked if the M’s felt they’re vulnerable at the position, he replied: “I don’t really feel that way, no. … We feel really good about what the combination of Josh and Luis can do for us this year.”

That’s the expected tone for a GM to strike publicly. That said, Chapman is the only unsigned third baseman who’d be a clear upgrade on the Rojas/Urías pairing. If Seattle is simply keeping tabs on his market in case the opportunity presents itself to jump in at a lower price, they’re presumably otherwise content with their in-house options.

Seattle has also been loosely tied to the top two remaining free agents, Blake Snell and Cody Bellinger. The link to Snell has primarily been about geography rather than team need. The defending NL Cy Young winner is a Seattle native and there has been some speculation he could prefer to stay on the West Coast after three seasons in San Diego.

Despite that chatter, Kramer writes that the Mariners haven’t shown much interest in Snell at any point during the winter. The M’s traded rehabbing starter Robbie Ray and depth arm Marco Gonzales but have held onto their top five starters: George Kirby, Luis Castillo, Logan Gilbert, Bryce Miller and Bryan Woo. Former top 10 pick Emerson Hancock remains on hand as a high-upside depth piece.

Bellinger was arguably a better roster fit, but Kramer reports that Seattle hasn’t considered the former MVP in either of the past two offseasons. The M’s reacquired Mitch Haniger and brought in Luke Raley from Tampa Bay as part of a reshaped corner outfield. Seattle shipped out one-time top prospect Jarred Kelenic, leaving Haniger and Raley as the presumptive starters alongside Julio Rodríguez on the outfield grass.

Seattle has generally preferred the trade route over free agency under Dipoto, particularly with regards to position players. This offseason’s two-year, $24MM deal for Mitch Garver was the first multi-year free agent contract for a hitter that Seattle has given out in Dipoto’s tenure. Roster Resource projects the organization’s 2024 player spending in the $135MM range. That’s a middle-of-the-pack figure that’s right in line with last year’s approximate $137MM Opening Day sum.

Yankees Have Offer Out To Blake Snell

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It was reported over the weekend that the Yankees are still interested in free agent left-hander Blake Snell. Mark Feinsand of MLB.com relays today that the club currently has an offer out to the lefty, though adds that the Angels and Giants are still possibilities. Despite that offer, Andy Martino of SNY threw some cold water on the proceedings, suggesting there’s not much momentum to getting a deal done at the moment.

There’s also a report today from Brendan Kuty and Chris Kirschner at The Athletic indicating that the club has made an offer to the southpaw with no opt-outs. It’s clear in the article that the offer in question was made to Snell prior to the club signing Marcus Stroman. The Yankees reportedly offered Snell $150MM over six years back in January, but the lefty was looking for either a longer deal or one with an average annual value of $30MM or more.

MLBTR predicted Snell for a seven-year, $200MM deal at the start of the offseason but his lingering on the market for months has led to some speculation he would consider a short-term deal, a possibility MLBTR recently explored.

The details of this current offer from the Yankees aren’t known, but it seems unlikely it’s of the short-term, high AAV type. The report from Kuty and Kirschner highlights that the club may not be in the best position to take the high AAV route because of their competitive balance tax status. Per Roster Resource, the club’s CBT number is $307MM, already beyond the fourth and final tier of $297MM. As a third-time payor at that level, any further spending comes with a 110% tax.

This would make it difficult for the club to get creative with Snell. Per the example used by Kuty and Kirschner, giving Snell a $40MM salary on a short-term deal would also come with $44MM in taxes, meaning the club would effectively be paying $84MM to get him on the roster this year.

This highlights the tricky position Snell is in at the moment. He is obviously incredibly talented, having just won a Cy Young last year after posting a 2.25 ERA with the Padres. That makes him very attractive but clubs may not want to commit to him for a long tenure given his inconsistency. From 2019 to 2022, in between Cy Young wins, he had a 3.85 ERA and never got to 130 innings pitched in any of those campaigns. As good as he was last year, he had to pitch around a 13.3% walk rate and got help from a .256 batting average on balls in play and 86.7% strand rate.

That lack of reliability could push some clubs to preferring a short-term deal but many contenders are over the CBT and face significant taxes, such as the Yankees, while others have budgetary limitations due to the bankruptcy of Diamond Sports Group and uncertainty around TV revenue. The January offer from the Yanks came with an AAV of $25MM and perhaps their new offer adds an extra year or a little bit more money. With Martino suggesting nothing is close to getting done, perhaps it’s not significantly different from last month’s offer.

Even if there are some clubs with a bit of powder dry at this late stage of the winter, there are still lots of free agents out there, with Boras representing all of the top names. In addition to Snell, he’s also looking to get deals done for Matt Chapman, Cody Bellinger, Jordan Montgomery, J.D. Martinez, Hyun Jin Ryu and more. Finding significant deals for all of those guys will be an interesting juggling act for Boras, as getting a deal done for one guy might have the domino effect of closing off the earning potential of another.

The Yankees have an on-paper rotation that is strong with Gerrit Cole backed up by Carlos Rodón, Stroman, Nestor Cortes and Clarke Schmidt. That’s a great group if everyone is healthy but each of Rodón, Stroman and Cortes missed significant time last year. The club also subtracted depth by including four starting pitchers in the Juan Soto trade. Signing Snell or some other starter could bump Schmidt down to sixth on the chart and into the minors, as he still has an option remaining.

Yankees Remain Interested In Blake Snell

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The Yankees made an offer to star southpaw Blake Snell last month, but pivoted to a deal with veteran right-hander Marcus Stroman shortly after due to a significant gap between the sides in negotiations. While it’s been unclear to this point whether negotiations between the sides have continued since the Yankees landed Stroman, USA Today’s Bob Nightengale reported this morning that the Yankees continue to have “serious interest” in Snell, though they’re currently waiting for his asking price to drop.

Snell, 31, entered the offseason as the #2 starting pitcher on the market behind now-Dodgers ace Yoshinobu Yamamoto. It’s easy to see why, as the reigning NL Cy Young award winner enjoyed an incredible 2023 season where he posted a majors-leading 2.25 ERA over 180 frames while striking out a whopping 31.5% of batters faced. Those incredible numbers came in spite of Snell leading the majors in walks as he issued free passes to 13.3% of batters faced. Snell’s dominance on the mound is belied somewhat by the inconsistency he’s struggled with in recent years, however. In the four years between his two Cy Young campaigns, he posted the numbers of a mid-to-back of the rotation arm, with a 3.85 ERA and a 3.44 FIP in a combined 413 2/3 innings of work.

That combination of dominance and inconsistency surely has played a role in the gaps Snell is facing between his camp and interested teams. One solution Nightengale floats as a possibility for Snell and the Yankees is a shorter deal, which MLBTR’s Darragh McDonald discussed the merits of early this week. Nightengale suggests that such a deal could come with a yearly salary “in excess of” $35MM. That would seemingly leave Snell likely to beat the short-term, opt-out laden deals signed by right-hander Trevor Bauer and fellow Boras client Carlos Correa in recent years. Bauer’s three-year, $102MM guarantee is a particularly interesting comp for Snell given that both hurlers flashed Cy Young caliber performances when at their best but also struggled with consistency, often posting results closer to the league average in down seasons.

Even as New York remains interested in Snell, the club has the makings of a solid rotation even if they enter Opening Day with their current options. Gerrit Cole is among the league’s best starters, and both Carlos Rodon and Nestor Cortes have enjoyed front-of-the-rotation caliber seasons in the past despite difficult 2023 campaigns. Stroman, meanwhile, is a reliable veteran arm who sports a 3.32 ERA dating back to the 2019 season. The fifth spot in the rotation should the Yankees not add another arm figures to go to right-hander Clarke Schmidt, who posted decent back-of-the-rotation numbers in his first season as a full-time starter last year. While the club would certainly benefit from adding Snell and allowing Schmidt to step into a depth role that the likes of Michael King, Randy Vasquez, and Jhony Brito vacated after being dealt to San Diego in the Juan Soto trade, the addition of Stroman created a credible five-man rotation in the Bronx, at least on paper.

Likewise, the Yankees are far from the only potential suitor for Snell’s services, particularly if the price comes down over the course of the coming weeks. The Angels are a frequently-discussed potential suitor for both him and fellow Boras southpaw Jordan Montgomery, while the likes of the Giants, Phillies, and Blue Jays have all been rumored to have potential interest in Snell should the price of his services falls into a range they’re comfortable with. It’s also possible that, in the event that Snell begins to entertain shorter-term offers at a higher AAV, new clubs that had not been tied to the southpaw previously emerge as potential suitors, as was the case with Correa and the Twins during the 2021-22 offseason.

Angels Hoping To Add To Rotation

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The Angels are looking to add to their rotation and have been “mulling” whether to make a run at Blake Snell or Jordan Montgomery, reports Jon Heyman of The New York Post, though Heyman adds that they’re more likely to go after a back-end guy like Michael Lorenzen. The club has been loosely tied to Snell and Montgomery earlier in the offseason but without anything seeming close or particularly viable.

The club’s current rotation projects to be fronted by some combination Reid Detmers, Patrick Sandoval, Tyler Anderson and Griffin Canning. Options for the fifth spot include Chase Silseth, José Suarez and Zach Plesac. That competition also would have had Sam Bachman in it, but Jeff Fletcher of the Orange County Register reports that Bachman had arthroscopic surgery last fall and won’t be ready for Opening Day.

That rotation mix has talent but plenty of question marks. Detmers had a 3.77 ERA in 2022 but it jumped to 4.48 last year. Sandoval went from 2.91 to 4.11 while Anderson jumped from 2.57 to 5.43. Canning was healthy enough to get to 127 innings pitched last year but that was a new high for him, thanks to injuries and the pandemic. Suarez missed most of last year due to a shoulder strain. Silseth has just 81 innings of MLB experience and only 45 2/3 at Triple-A. Plesac’s ERA shot up to 7.59 with the Guardians last year. There was some bad luck in there but he was nonetheless passed through waivers and outrighted off the roster.

Given those question marks and the inevitable pitcher injuries that arise in a long baseball season, there’s plenty of logic in adding to that group. A run at Snell or Montgomery would be interesting, as there are reasons to doubt the possibility. MLBTR’s Contract Tracker shows that the largest contract the Angels have given a starting pitching since the start of 2012 is the three years and $39MM they gave Anderson. That historical lack of spending on starting pitching and owner Arte Moreno’s recent comments about operating with a lower payroll this year would make it surprising to see the Angels suddenly splurge on Snell or Montgomery.

Even with a lower payroll, it’s possible they have some powder dry. They opened last year with an Opening Day payroll of $212MM, per Cot’s Baseball Contracts, and also flirted with the luxury tax line. This year, Roster Resource pegs them at $173MM, almost $40MM below where they were a year ago. Their CBT number of $188MM is almost $50MM below this year’s $237MM threshold. That could leave some wiggle room for them to make a notable signing while still having lowered their spending slightly.

Coming into the offseason, MLBTR predicted Snell for $200MM over seven years and Montgomery for $150MM over six. The fact they are still on the open market in mid-February suggests they may be having difficulty getting into that range, so perhaps there’s an opportunity for the Angels to make something work, despite their past resistance to long-term deals for starters.

Either would immediately become the best pitcher on the staff, if added. Snell is coming off his second career Cy Young victory, posting a 2.25 ERA with the Padres last year. He’s had his ups and downs but is obviously one of the best in the league when he’s throwing well. Montgomery has continued to build his innings totals and lower his ERA since returning from Tommy John surgery. He tossed 44 innings in 2020 with a 5.11 ERA, then got to 157 1/3 frames with a 3.83 ERA in 2021. He followed that up with 178 1/3 innings of 3.48 ERA ball and then 188 2/3 innings with a 3.20 ERA last year, then adding another 31 postseason frames with a 2.90 ERA.

But signing someone like Lorenzen would be more the Angels’ style and they have, in fact, done it before. After years of being pushed to the bullpen by the Reds, the Halos gave Lorenzen a one-year, $6.75MM deal and let him try starting in 2022. It went reasonably well, as he made 18 starts and logged 97 2/3 innings with a 4.24 ERA.

He was able to parlay that into a one-year, $8.5MM deal with the Tigers and pushed himself even farther in terms of workload and results. He had a 3.58 ERA in 105 2/3 innings with Detroit before getting flipped to the Phillies. He made two excellent starts for his new club, the latter being a no-hitter, but seemed to run out of gas after that. After completing his no-hitter, he was sitting on a 3.23 ERA through 122 2/3 innings on the year. He was lit up the rest of the way and finished the season with an ERA of 4.18, but it seems possible that was a result of him pushing his innings tally into new territory.

MLBTR predicted he could secure a two-year, $22MM deal this offseason. He remains unsigned and is arguably the best starter in free agency apart from Snell and Montgomery. Unless the Angels plan to make a pivot and open themselves up to the idea of a mega deal for a pitcher, Lorenzen would be their best path to solidifying the rotation. Other notable remaining free agent starters are Mike Clevinger, Hyun Jin Ryu, Eric Lauer, Noah Syndergaard, Rich Hill, Zack Greinke and Johnny Cueto.

Should Blake Snell Consider A Short-Term Deal?

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This offseason has proven to be incredibly slow, with many notable free agents still lingering on the open market in the middle of February. That includes J.D. Martinez, Michael Lorenzen, Gio Urshela, Tim Anderson, Amed Rosario, Whit Merrifield, Brandon Belt, Tommy Pham, Adam Duvall, Hyun Jin Ryu, Brandon Woodruff, Liam Hendriks and many more. But most notably, it includes four top free agents that were generally expected to land nine-figure deals coming into offseason: Cody Bellinger, Matt Chapman, Jordan Montgomery and Blake Snell.

As the calendar continues moving forward and they remain unsigned, the possibility of creative solutions has to be considered. If some club was willing to give these players a straight deal that matched their asking price, it would likely have happened by now. If they can’t find what they are looking for, they might have to open their minds to alternatives. Things can always change, especially with an unexpected injury. The O’s are suddenly without Kyle Bradish as he’s been diagnosed with a sprained UCL and his status is up in the air. That’s not to say that the O’s will suddenly pivot and sign Snell, merely to illustrate that plans can change quickly for any club.

Players in this situation will sometimes opt for a short-term deal with a high average annual value and opt-outs. For instance, when Carlos Correa first signed with the Twins prior to the 2022 campaign, it was a guarantee of $105.3MM over three years. That was a $35.1MM AAV, with Correa having opt-out opportunities after each year. That allowed him to make a huge salary that year and gave him a decent floor in the event of catastrophic injury or a huge dip in performance, while maintaining future earning power.

Correa eventually triggered that first opt-out and returned to the open market, agreeing to a 13-year, $350MM deal with the Giants. That deal eventually fell apart due to the club having concerns about his long-term health, but it still illustrates the appeal of taking this path. Even after that deal evaporated, Correa still managed to get a $200MM guarantee by signing with the Twins. Carlos Rodón settled for a two-year, $44MM with the Giants going into 2022, eventually opting out and signing with the Yankees for $162MM. Lucas Giolito is hoping to follow his lead, signing a two-year, $38.5MM deal with the Red Sox this winter which allows him to opt out next offseason.

The argument against Snell taking such a path is straightforward. He simply won’t have a better platform year. He just won a Cy Young award, the second of his career. He stayed healthy enough to make 32 starts and log 180 innings, allowing just 2.25 earned runs per nine. His 13.3% walk rate was quite high, but he struck out 31.5% of batters faced and induced grounders at a 44.4% clip. The walks could come down a touch, but he likely won’t sustain a .256 batting average on balls in play nor an 86.7% strand rate. Producing a Cy Young-caliber season in back-to-back years is incredibly hard for even the greatest pitchers in history.

That’s especially true for Snell, who hasn’t been the most consistent pitcher in his career. He also won a Cy Young while with the Rays in 2018, but the years in between his two award-winning campaigns were far less impressive. From 2019 to 2022, he posted a 3.85 ERA over 85 starts. None of those seasons saw him pitch even 130 innings, thanks to the pandemic and various injuries. He went on the injured list in that stretch due to a fractured right toe, loose bodies in his left elbow, gastroenteritis and a couple of left adductor groin strains.

Taking a short-term deal would carry the risk of the baseball gods souring on him and his ERA jumping up over 4.00 this year, or perhaps sustaining another injury and turning in a more limited workload. He’s also 31 years old and would be marketing himself as a 32-year-old a year from now. Based on his excellent 2023 season, MLBTR predicted him for a seven-year, $200MM deal coming into the winter. The Yankees reportedly offered him $150MM over six, but he was hoping for more years and/or an AAV of at least $30MM.

The odds of Snell faring better in next winter’s market are low. Even if he manages to stay healthy and have another great season, he will be joining a market that’s also set to feature the likes of Corbin Burnes, Shane Bieber, Zack Wheeler, Walker Buehler, Max Fried, and Max Scherzer, while options/opt-outs could also add Giolito, Justin Verlander, Nathan Eovaldi and Robbie Ray to the market.

The argument for returning to free agency next winter would be that the external conditions that Snell can’t control would vastly improve. It seems fair to conclude that those factors aren’t working in the players’ favor this winter. The collapse of Diamond Sports Group is pushing down the desire of many clubs to spend, particularly into the long term where the uncertainty is greater. Teams such as the Padres, Rangers and Twins have been decidedly less aggressive this winter compared to previous offseasons. This seems to have allowed other clubs to either be patient or address their needs via trade, like the Yankees did.

Beyond that, the Mets have decided to stay away from the top of the market this offseason. They have been plenty active but have spread their money around to various player on short-term deals. They have avoided the marquee free agents, apart from sniffing around the Yoshinobu Yamamoto bidding for a while, depriving the market of one of the bigger spenders from previous offseasons.

Perhaps things will change significantly in the next nine months or so. Maybe MLB will get its desired streaming package together and the finances of the league will vastly improve as a result. Maybe the Mets have a pretty good year and Steve Cohen gets back into spending mode. Maybe the Red Sox get encouraging development from their young players in 2024 and decide to go “full throttle” for real in the coming offseason. A similar path could be ahead of the Tigers this year. Perhaps the sale of the Orioles will be approved and the new owner will want to make a big splash, shaking up the market. Maybe the Nationals or Rockies decide their rebuild has gone on long enough and it’s time to send a signal to that effect. That, however, is a whole lot of “ifs” and “maybes.”

It’s possible it could work out for Snell if he were to pivot to maximizing short-term earnings. That’s what Trevor Bauer did when he signed a three-year, $102MM deal with the Dodgers, an average annual value of $34MM. He had the ability to opt out after the first year with $40MM already banked or after the second year with $85MM already earned.

Instead of focusing on a total guarantee, Snell could push for a record in terms of average annual value. The top mark in that category is currently held by Shohei Ohtani, whose heavily-deferred $700MM deal was valued at $46.06MM annually in terms of present day value by MLB and just under $43.8MM by the MLBPA. If he were to get something like $93MM over two years or $139MM over three, he would vault himself to the top of that list.

Snell is 31 years old and could still get paid in his mid-30s if he stays healthy and effective. Jacob deGrom got $185MM over five years going into his age-35 campaign. Scherzer got $130MM over three years going into his age-37 season. Verlander got $86.67MM going into his age-40 season. At a lesser tier, Sonny Gray just got three years and $75MM going into his age-34 season, slightly better than the $63MM over three years that Chris Bassitt got going into his own age-34 campaign.

If the straight $200MM deal isn’t there for Snell, he’ll have to consider other paths. If he were to take something like the Correa or the Bauer deal, he could get roughly halfway to that $200MM target but with plenty of opportunity to go back to the open market and get the rest. He’s currently encumbered by having rejected a qualifying offer, but that wouldn’t be an issue in future since a player can’t receive a second QO in their career. The QO is generally a small detail when clubs are making $200MM investments, but that would be one thing working in Snell’s favor in future offseasons.

Still, the short-term path is fraught with risk. Baseball history is full of dominant pitchers who suffered some kind of career-altering injury and were never the same again. Predicting such things is impossible, and it’s something that every hurler has to at least think about. There’s also the possibility that the market conditions get worse and not better going forward. That’s why having the guarantee in hand is such a preferable path. As the proverb says, the bird in the hand is worth two in the bush.

What do you think? Should Snell take the best guarantee he can get here in the next few weeks or maximize short-term earnings with a path back to free agency in the not-too-distant future? Have your say in the poll below!

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