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Carlos Correa

Mets Have “Raised Concerns” Over Carlos Correa’s Physical, Deal Still “Likely”

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Dec 26: Heyman reports that a few teams have “checked in” since the Mets showed concern in the physical. A situation akin to what happened in San Francisco just a week ago does not appear nigh though, as Heyman adds that talks between the Mets and Correa’s camp appear to have been more substantive than what occurred with the Giants in the aftermath of Correa’s physical there.

Dec 24, 2:51pm: According to Jesse Rogers of ESPN, a deal with the Mets is still “likely”, although he reports that the contract could be reworked considering the issue. While it’s not known what a reworked contract would look like, it could include altering the duration or financial guarantee of the contract, or rewording it to alter the amount of guaranteed money Correa makes should he miss a period of time due to the specific leg ailment which is causing concern. Rogers adds that there is not a timetable in place to resolve the matter.

10:56am: Carlos Correa’s physical with the Mets has “raised concerns”, according to a report from Ken Rosenthal and Dan Hayes of The Athletic. Per the report, the concern centers on Correa’s surgically repaired lower right leg. Correa has agreed to a 12-year, $315MM deal with the Mets just days after a 13-year, $350MM deal with the Giants fell through over concerns over the physical.

While it’s jarring to hear given the events of the past week, it’s unclear yet what this means for the status of the deal. Jon Heyman of the New York Post reports that the two parties are currently trying to work through the issue.

Mets owner Steve Cohen has already addressed the deal, telling Heyman earlier this week that “we needed one more thing, and this is it”. That’s particularly significant as, per The Athletic’s report, addressing the deal on the record could make it trickier to back out of the agreement, although there’s nothing to suggest that’s what the Mets are looking to do.

It’s been a fascinating turn of events in Correa’s free agency over the past week. Generally, reported agreements pending a physical have become official without a hitch, but Correa’s has now hit a snag on two separate occasions in the space of a week. Further, he’s one of the top free agents this winter and had agreed to deals worth in excess of $300MM. Correa had agreed to a long-term contract with the Giants on December 13, but that fell over on Monday after the Giants reportedly asked for more time to look into the medicals after finding something that gave them pause. However, agent Scott Boras quickly pivoted and went to the Mets, who quickly agreed to their own long-term deal for $35MM less than the original Giants agreement.

Boras sought to re-engage with the Twins as well after the Giants deal fell through. Per The Athletic’s report, they’d offered him a ten-year, $285MM deal but would have put a greater emphasis on a physical before that deal than the deal he signed with Minnesota earlier in 2022, given the long-term nature of the proposal. The report also adds that after Correa became available again, the Twins were unwilling to alter their initial proposal, and would have wanted to investigate the issues raised in the player’s physical with the Giants.

The Giants have been quiet on the matter. HIPAA laws restrict them from disclosing clear answers about the precise nature of the injury, but president of baseball operations Farhan Zaidi did offer a statement: “While we are prohibited from disclosing confidential medical information, as Scott Boras stated publicly, there was a difference of opinion over the results of Carlos’ physical examination. We wish Carlos the best.”

The Correa camp has denied any cause for concern. Prior to undertaking his physical with the Mets, Boras said “there is nothing with him that is currently any sort of medical issue,” via Anthony DiComo of MLB.com. He also added that the Giants were trying to use a “crystal ball” to try and predict Correa’s long term health (via Laura Albanese of Newsday).

Various reports have mentioned Correa’s right leg as the source of concern for both the Giants and Mets. Back in 2014, a teenage Correa fractured his right fibula and sustained minor ligament damage while playing in High-A in the Astros organization. That injury required arthroscopic surgery to repair. Correa has missed time for thumb, back and rib issues in the big leagues, but the right leg has never sent him to the injured list in his eight big league seasons.

It is worth remembering that only a few years ago the Mets did pull out of a deal with a player. In 2021, they drafted Kumar Rocker 10th overall and agreed to a $6MM signing bonus, before abandoning the deal after growing concerned by something they saw in the physical. Of course, backing out of a $6MM deal for draft pick and a $315MM contract for an All-Star are two different things, and Cohen’s comments certainly give confidence that a deal can still go through in some form.

It’s the latest twist in what has been a tumultuous time for Correa on the open market. He was the top free agent after departing the Astros last year, but after the long-term deal he sought didn’t eventuate he took a three-year, opt-out laden, $105.1MM deal with the Twins. After earning $35.1MM last season and putting up another strong season he opted out and hit the open market for the second-straight winter. The long-term mega deal he’d been seeking looked to have finally come to fruition when it was reported the Giants had agreed to a 13-year, $350MM pact. That deal fell through, but Correa was able to quickly land a $300MM+ deal with the Mets. While there’s every chance a deal with New York still goes through, there’s at least some doubt now hanging over it.

Carlos Correa Taking Physical With Mets Today

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Carlos Correa is undergoing his physical with the Mets today, agent Scott Boras announced to reporters (including Lindsey Adler of the Wall Street Journal). According to Boras, the Mets are expected to take 24-48 hours to review the results (relayed by Anthony DiComo of MLB.com).

Under normal circumstances, a free agent who has agreed to terms with a team undergoing a physical would hardly be worth noting. In most cases, agreements are reported on before a deal is made official, with the physical a rubber stamp on the way to the official announcement. Of course, the Correa situation has been anything but normal. He agreed to a 13-year, $350MM deal — pending a physical — with the Giants on December 13. That was scuttled on Monday evening when the Giants found something in their examination of Correa that gave them pause. They reportedly wanted more time to look into the medicals but Boras quickly pivoted and secured a new deal with the Mets for 12 years and $315MM. It has occasionally happened before that deals have been scuttled by medicals but never with a player or contract of this magnitude.

The Giants are restricted by HIPAA laws from providing clear answers about the precise nature of the injury. President of baseball operations Farhan Zaidi released a very generic statement on the matter yesterday: “While we are prohibited from disclosing confidential medical information, as Scott Boras stated publicly, there was a difference of opinion over the results of Carlos’ physical examination. We wish Carlos the best.”

Various reports over the past 24 hours have indicated the Giants raised concerns regarded Correa’s right leg. As a prospect in the Astros organization, a then 19-year-old Correa fractured his right fibula while playing in High-A in June 2014. The injury required surgery and cost him the remainder of that season. Last night, Andrew Baggarly of The Athletic wrote about the dilemma and called San Francisco’s concern “pretty obvious” while linking to a 2014 Houston Chronicle story about the fibula fracture.

Jeff Passan of ESPN also indicates the right leg was the issue as part of a wider-ranging piece on the bizarre situation. According to Passan, San Francisco asked Correa’s camp for time to evaluate the issue after identifying their concerns in the physical on Monday night. The team postponed the press conference they’d scheduled Tuesday morning, one clearly designed to formally introduce Correa as a Giant after he signed his contract. That afternoon, the sides reengaged over the phone and the Giants informed Boras they weren’t prepared to keep their 13-year, $350MM offer on the table, Passan writes. San Francisco may have been willing to renegotiate a lower deal, according to Passan, but the decision not to abide by the originally agreed upon terms freed Correa’s camp to explore other opportunities.

In the hours after the Giants deal fell apart, Boras and his staff reached out to both the Mets and Twins. Last night, Andy McCullough, Ken Rosenthal and Will Sammon of The Athletic reported that Correa’s camp had been in touch with Minnesota before agreeing to terms with the Mets. The Twins, Correa’s incumbent team, had put forth a ten-year, $285MM offer earlier in the offseason. According to both The Athletic and ESPN, Minnesota expressed reluctance to move past that proposal on Tuesday evening — at least not without more time to evaluate the concerns raised by the Giants in their exam.

Not long after, Correa and the Mets hammered out the agreement. Both The Athletic and ESPN characterize negotiations as fairly direct between Boras, New York owner Steve Cohen and Mets general manager Billy Eppler. By the middle of the night, Jon Heyman of the New York Post reported the sides were in agreement on their 12-year pact. According to McCullough, Rosenthal and Sammon, Mets manager Buck Showalter and numerous other team officials weren’t aware of the extent of negotiations, learning when they woke up Wednesday morning about the agreement.

That’s all subject to the Mets physical evaluation, of course. However, there doesn’t seem to be much concern within the New York organization about Correa potentially failing a second physical. Cohen discussed the agreement on the record with Heyman; as Andy Martino of SNY wrote yesterday, that’d open the Mets up for a potential grievance if they back out of the deal over concerns about the medicals.

Correa’s camp, predictably, has denied there’s reason for concern. “There is nothing with him that is currently any sort of medical issue,” Boras said this morning, per DiComo. The agent added the Giants were trying to use a “crystal ball” to predict Correa’s long-term health (via Laura Albanese of Newsday).

The right leg that apparently gave the Giants pause has never sent Correa to the injured list as a major leaguer. He missed the second half of the 2014 minor league season recovering from surgery but was back on the field at the start of the following campaign. Correa has had a few injured list stints in the majors, missing time between 2017-19 with a torn ligament in his left thumb, back soreness (twice) and a rib fracture. He also lost a bit of time this past season after bruising his right middle finger. Since making his MLB debut, Correa hasn’t had any IL stints related to his lower half. However, Passan writes that San Francisco’s medical professionals raised concerns about the long-term stability of his right leg, fearing he could quickly lose the lateral mobility that plays such a key role in his defensive projection.

It’s worth pointing out that there is some precedent for the Mets similarly striking down a deal with a player, just as the Giants have done with Correa this week. The Mets selected Kumar Rocker, also represented by Boras, 10th overall in the 2021 draft and agreed to a $6MM signing bonus until they grew concerned by something in his physical and the deal fell apart. Backing out of a $6MM bonus for a draftee and a $315MM agreement with a superstar are two different things, however, and Cohen’s on-record discussions of the Correa agreement reiterate the owner’s confidence in the exam going without issue.

It has been a rollercoaster for Correa over the past two years, having reached free agency for the first time after the 2021 season. He went into the open market seeking a deal of ten-plus years in length and over $300MM but didn’t find one before the sport went into a lockout in December. During that lockout, he fired his representatives and hired Boras. After the lockout, he still didn’t find the megadeal he was looking for, but settled on a three-year contract with Minnesota that paid him a huge $35.1MM annual salary and allowed him to opt out after each season.

After another solid performance in 2022, he returned to the open market and seemed to finally land the deal he wanted with San Francisco. That’s gone but he secured another within hours from the Mets. There’s one step to go, perhaps the most anticipated physical examination in baseball history.

Scott Boras Comments On Carlos Correa Situation

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The past week has seen an incredible free agent plot twist that’s unprecedented in baseball history. Reports emerged last week indicating that the Giants had agreed to terms with shortstop Carlos Correa on a 13-year, $350MM deal. That deal, like all free agent agreements, was pending a physical. However, it was reported yesterday that an issue flagged during Correa’s physical caused the Giants to delay a press conference that was set to introduce Correa. That was followed by a stunning middle-of-the-night report that Correa had a new agreement with the Mets for 12 years and $315MM.

The entire baseball world is still trying to piece together how such a strange sequence of events came to pass. Correa’s agent, Scott Boras, has provided his perspective today, giving comment to Susan Slusser of the San Francisco Chronicle and Ken Rosenthal of The Athletic.

“We reached an agreement. We had a letter of agreement. We gave them a time frame to execute it,” Boras said. “They advised us they still had questions. They still wanted to talk to other people, other doctors, go through it. I said, ‘Look, I’ve given you a reasonable time. We need to move forward on this. Give me a time frame. If you’re not going to execute, I need to go talk with other teams.”

It still isn’t publicly known what issue the Giants found during Correa’s physical, but Boras frames it as an old injury that precedes Correa’s time in the majors. “You’re talking about a player who has played eight major-league seasons,” Boras said. “There are things in his medical record that happened decades ago. These are all speculative dynamics. Every team has a right to go through things and evaluate things. The key thing is, we gave them (the Giants) medical reports at the time. They still wanted to sign the player and negotiate with the player.”

Rosenthal lays out that Correa suffered a season-ending leg injury in the minor leagues in 2014 but he has not been on the injured list for a lower leg injury since his promotion to the majors. He’s also had back issues in the past but his last IL stint for a back injury was in 2019.

Giants president of baseball operations Farhan Zaidi also provided a comment, though without getting into specifics. “While we are prohibited from disclosing confidential medical information, as Scott Boras stated publicly, there was a difference of opinion over the results of Carlos’ physical examination,” Zaidi said to reporters, including Alex Pavlovic of NBC Sports Bay Area. “We wish Carlos the best.”

It’s worth reiterating that, with the Giants not providing any details, we only really have one side of the story. As Correa’s agent, Boras is surely motivated to wipe away the concern of the Giants as unreasonable or a non-issue. Correa’s new deal with the Mets is also pending a physical and won’t be official until that is complete. However, if the Mets end up having the same concerns as the Giants, it might be difficult for them to back out in a similar fashion. Andy Martino of SNY reports that the Mets could face a grievance if they back out of the deal since owner Steve Cohen has already discussed the deal on the record.

Also noted by Rosenthal, it’s not entirely unprecedented for medical personnel to come to different conclusions about the health of a player. This Boras-Mets situation was the other way around with Kumar Rocker, whom the Mets selected 10th overall in the 2021 draft. The Mets had agreed to give Rocker, who is represented by Boras, a $6MM bonus before medical concerns scuttled the deal. Rocker re-entered the draft a year later and was selected third overall by the Rangers.

It has also occasionally happened in the past that free agents agree to terms with teams but then issues pop up with the physical before the deal is official. In one recent example, reliever Grant Balfour agreed to terms with the Orioles on a two-year, $15MM deal prior to the 2014 season. The O’s backed out after conducting Balfour’s physical and he instead signed with the Rays for two years and $12MM. However, a similar situation for a free agent of Correa’s magnitude hasn’t been seen before.

Mets To Sign Carlos Correa

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In a shocking development, Carlos Correa has agreed to join the Mets for a 12-year, $315MM contract, Jon Heyman of the New York Post reports.  Correa had previously agreed to a 13-year, $350MM deal with the Giants, yet reports surfaced yesterday that an unknown issue with Correa’s medicals had led to a postponement of the Giants’ introductory press conference for the shortstop.  The 28-year-old Correa is represented by the Boras Corporation, and his deal with the Mets will become official once he passes a physical.

As Susan Slusser of the San Francisco Chronicle tweets, the “Giants flagged something in [Correa’s] physical and doctors disagreed.”  Slusser also reported yesterday that Correa’s back wasn’t the issue, though back soreness has sent the former All-Star to the injured list on multiple occasions during his career.

Whatever the Giants took issue with in Correa’s physical, obviously the problem wasn’t enough to deter the Mets from adding yet another high-priced star to their already loaded roster (and payroll).  Mets owner Steve Cohen said last week that the team made a late bid of around $300MM to land Correa, but that offer was turned down by agent Scott Boras since talks with the Giants had already reached an advanced stage.

As it turned out, that late attempt from Cohen was seemingly all Boras needed to secure another mega-deal for his client quickly after the agreement with San Francisco fell apart.  As Cohen told Heyman, “we kind of picked up where we were before and it just worked out” over the course of four or five hours’ worth of extra negotiations.

Correa’s new contract with New York is one year shorter and worth slightly less in average annual value ($26.25MM with the Mets compared to $26.92MM with the Giants).  It is also “only” now the 10th-largest contract in baseball history in terms of total value, while the $350MM deal with San Francisco was the fourth-largest in history.

Still, the deal handily surpasses MLBTR’s projection of a nine-year, $288MM pact for Correa.  Like the structure of the original Giants contract as well as other deals signed by Xander Bogaerts and Trea Turner this winter alone, the longer length allows the team to spread out the luxury-tax hit over more years, while the player still gets his money as well as extra security.  The Mets themselves used a version of this strategy in re-signing Brandon Nimmo to an eight-year, $162MM deal, as Nimmo’s tax number is $20.25MM.  Correa now joins Nimmo and Francisco Lindor as Mets players signed beyond the 2029 season, though the Mets’ expenditures this winter have varied widely in length.

The overall numbers of the Mets’ spending spree continue to stagger.  Assuming Correa’s contract pays him $26.25MM in each year of the deal, the Amazins’ payroll will now soar past the $377MM mark for 2023.  Having already far surpassed the fourth and highest tier ($293MM) of Competitive Balance Tax penalties, New York is paying a 90% tax on every dollar spent beyond the $293MM threshold.  That works out to roughly $23.62MM added to the Mets’ tax bill, thus putting their luxury tax number over $386MM.

Correa, Nimmo, Justin Verlander, Edwin Diaz, Kodai Senga, Jose Quintana, David Robertson, Adam Ottavino, and Omar Narvaez represent the star-studded list of free agents signed and re-signed by New York this offseason alone, to say nothing of their previous big splashes since Cohen bought the team just over two years ago.  Needless to say, Cohen has established new standards for spending, as the owner has made no qualms about his desire to immediately make the Mets as competitive as possible.  The result was a 101-win season in 2022, but the Amazins didn’t make it past the first round of the expanded playoffs, losing to the Padres in three games in the Wild Card Series.

The Correa signing “really makes a big difference,” Cohen said.  “I felt like our pitching was in good shape.  We needed one more hitter.  This puts us over the top.”

Indeed, most of the Mets’ focus had been on revamping a rotation and bullpen that was full of free agents.  While Diaz and Ottavino were re-signed, plenty of holes had to be filled after Jacob deGrom, Chris Bassitt, Taijuan Walker, Seth Lugo, Joely Rodriguez, Trevor Williams, Trevor May, and Mychal Givens all signed elsewhere.  Nimmo was the biggest pending free agent on the position player side, and Narvaez should help bolster the catching corps, but Cohen and GM Billy Eppler weren’t going to curb their aggressiveness.

To this end, one of baseball’s best shortstops in Correa now won’t even be a shortstop, as Correa will now move to third base in deference to Lindor.  Correa won a Platinum Glove, Gold Glove, and Fielding Bible Award for his work at shortstop just in 2021, and his professional experience at third base consists of one game with the Astros’ Double-A affiliate in 2015.  That said, Lindor is an excellent fielder in his own right, and the Outs Above Average and UZR/150 public metrics prefer his glovework at shortstop to Correa’s over the course of their careers.  There isn’t much doubt that Correa should be able to translate well to the hot corner, thus improving the Mets’ defense as well as the impact he’ll bring to the lineup.

With Correa now the new third baseman, Eduardo Escobar is suddenly out of a starting job.  It wasn’t even 13 months ago that Escobar was one of New York’s big signings of the 2021-22 offseason, as he inked a two-year, $20MM deal.  Escobar was decent if unspectacular, hitting .240/.295/.430 with 20 homers for a 106 wRC+ over 542 plate appearances in his first year in Queens.

“Decent if unspectacular” wasn’t enough for a team so intent on winning, however, and thus Escobar could now join Luis Guillorme as infield depth.  It stands to reason that the Mets could explore trading Escobar (and the $10MM remaining on his deal) to a team in need of a dependable veteran infielder, or New York could simply keep Escobar as a backup option in the event of an injury to Correa or starting second baseman Jeff McNeil.

Looking further down the depth chart, top prospect Brett Baty is also a third baseman, as is Mark Vientos (ranked by MLB Pipeline as the seventh-best minor league in New York’s farm system).  Baty has gotten some time as an outfielder and now might be viewed as a possible replacement for Canha in left field, while Vientos might be destined for a move off third base anyway, with first base potentially being his ultimate spot on the field.  With Correa now locked into the hot corner, however, there seems an increased possibility that the Mets could shop either of these prospects for other upgrades.

Today’s news marks the latest twist in a controversy-filled career for Correa, largely tied to his participation on the 2017 Astros team that won a World Series championship later clouded by the sign-stealing scandal.  Correa’s time in Houston ended when he signed a three-year, $105.3MM deal with the Twins last winter, though that shorter-than-expected contract was designed to allow a quick return to the free agency.  Correa had opt-out clauses after both the 2022 and 2023 campaigns, and he exercised that first opt-out to re-enter the market in an offseason that wasn’t interrupted by the lockout.

Correa hit .291/.366/.467 with 22 homers over 590 plate appearances in his lone season in Minnesota, with a 140 wRC+ that stands as the third-highest of his eight MLB seasons.  Coming off a strong platform year and still being younger than most free agents once they reach the open market, Correa had every expectation of finally landing the pricey long-term contract he initially wanted last year.

The result was two pricey, long-term contracts, with the Mets swooping in to take Correa away from the Giants.  It’s probably wise to not totally assume Correa’s pact with the Mets is a done deal until the physical is passed and an official announcement is made, given the stunning nature of the last 24 hours.  Yesterday’s reports of a delay certainly raised red flags about the status of Correa’s agreement with San Francisco, but with an absence of any concrete news, there wasn’t yet any reason to believe that Correa wouldn’t still eventually end up in the Bay Area.

Instead, the Giants’ winter plans have now been dealt an almost unfathomable setback.  The Giants slumped to an 81-81 record after their 107-win season in 2021, leaving president of baseball operations Farhan Zaidi in search of a major acquisition.  San Francisco has lots of payroll space and lots of needs around the roster to accommodate at least one new superstar, and there seemed little doubt that the Giants were lining up to make the first true blockbuster signing of Zaidi’s four-year tenure.

Aaron Judge was clearly the top priority heading into the offseason, and the Giants reportedly offered Judge around $360MM before the AL MVP took that same salary over a nine-year deal to re-sign with the Yankees.  With Judge off the board, San Francisco then turned to the shortstop market, with Correa emerging as their top target (ahead of Turner, Bogaerts, or Dansby Swanson).  The $350MM deal represented the biggest contract in franchise history, and a resounding counter to any argument that the Giants’ front office was unwilling or unable to land top-tier free agents.

It isn’t exactly true that the Giants are back to square one, since they’ve also signed Mitch Haniger, Ross Stripling, and Sean Manaea in free agency, and Joc Pederson was retained via the qualifying offer.  But, Carlos Rodon left the team to also sign with the Yankees, removing another star from the 2022 roster.  The league-wide rush on free agent signings has left the market bare of most of the top names, and so Zaidi and company will now have to explore the trade market (and possibly make some tough decisions on trading top prospects) in order to acquire another big-ticket star….if one is even necessarily available.

Speculatively, the Giants could try to wield their payroll space in a different manner, perhaps by offering a deal for both a star player and an undesirable contract on a team looking to cut spending.  With over three months until Opening Day, there’s plenty of time left for the Giants to still make moves, and yet it’s hard to imagine they can make an addition anywhere near Correa’s level.

Photo courtesy of USA Today Sports Images

Originally posted at 2:05am.

Giants Reportedly Postpone Carlos Correa’s Introduction Due To Medical Concern

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The Giants and Carlos Correa agreed to terms last week on a 13-year, $350MM framework for a deal. That structure was pending a physical and Correa had yet to officially sign the contract. The club was going to introduce him today but the scheduled news conference was postponed due to a medical concern, reports Ronald Blum of the Associated Press. Earlier today, Susan Slusser of the San Francisco Chronicle reported that the postponement was related to the fact that the club was “awaiting test results.” At this point, it isn’t known what exactly is causing the holdup, with Blum’s report simply stating that “a medical issue was flagged.”

Beyond that information, anything else is speculation at this point. It isn’t publicly known what the issue is or how serious it is. It’s also not known if the Giants simply want to conduct further tests or have firm evidence of something that will lead to the deal being called off or restructured. However, the fact that they are at least delaying the official stamp is a situation that will be worth monitoring.

Over the past eight seasons, Correa has been one of the best shortstops in baseball but one knock against him has been durability. He has gone to the injured list with various issues in his career, including a torn ligament in his thumb, lower back soreness and a fractured rib. However, he largely moved past his “injury-prone” label in recent years. He played 58 games in the shortened 60-game season in 2020, followed by 148 contests in 2021. This most recent season, he went on the IL for a finger contusion and went to the COVID-IL once but still got into 136 games on the year, staying healthy for the entirety of the second half of the season. Again, it’s worth repeating that we don’t know what the current issue is or the severity of it, but Slusser reports that is not a back problem.

Steve Cohen Discusses Mets’ Pursuit Of Carlos Correa: “We Got There Late”

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Just before Carlos Correa signed his 13-year, $350MM deal with the Giants, the Mets made an attempt to try land the star shortstop.  Mets owner Steve Cohen shed more light on that pursuit in an interview with Jon Heyman of the New York Post, as Cohen said that he contacted Correa’s agent Scott Boras an offer of roughly $300MM.  By that point, however, the Giants and Correa’s camp were already deep enough into negotiations that Boras and company didn’t want to turn back.

As Cohen simply put it, “we got there late” on Correa’s market.  “We thought maybe he might fall to us….He’s a great leader and a good guy.  He could play third base.  And he’s a great defender.”

Position changes have been floated for all of Correa, Xander Bogaerts, Trea Turner, and Dansby Swanson in various permutations by several teams this winter, as even at the very top of the shortstop market, clubs creatively explored ways to fit these players into a lineup even if another good shortstop was already on the roster.  In New York, of course, Francisco Lindor is already locked into the shortstop role through the 2031 season, and thus Correa would’ve had to move to the hot corner.

Lindor’s presence made the Mets something of a bystander on the shortstop market, but when Correa lingered on the market, Cohen checked in with Boras to see if something could be done.  Eduardo Escobar (signed to a two-year, $20MM deal just last offseason) is the Mets’ current third baseman, but if Correa had been signed, Escobar would’ve presumably become an overqualified utility infielder, or perhaps a trade chip.

It’s also fair to say that Cohen’s attention might’ve been busy elsewhere, preventing him from making an earlier bid on Correa.  New York has already re-signed Edwin Diaz and Brandon Nimmo, and brought Justin Verlander, Kodai Senga, Jose Quintana, David Robertson, and Omar Narvaez into the fold during an extraordinary free agent splurge.  The result is a payroll that sits at roughly $343.56MM, and a luxury tax number of $356.3MM — both records in MLB history.

“No one likes to spend money.  But this is the price” of doing business, Cohen said, as the Mets want to win but aren’t interested in trading from their farm system.  If this means operating at a loss in order to chase a World Series, that is fine in Cohen’s view.  Also, the owner noted that the club also had a lot of holes to fill (mostly on the pitching staff) given its own extensive free agent class.  While Nimmo and Diaz were retained, Jacob deGrom, Taijuan Walker, Chris Bassitt, Trevor May, Trevor Williams, and Joely Rodriguez have all signed elsewhere.

“My team is good.  But it isn’t that much better than last year.  If you want a team that’s good, this is what it costs.  What are you going to do?” Cohen asked rhetorically.

As much as there doesn’t appear to be a limit on New York’s spending, Cohen did say that Correa’s market conditions played a role in the Mets’ interest, as he was going to pursue a signing “that made sense…and not get crazy.”  The fact that a $300MM offer on top of the Mets’ other spending doesn’t qualify as “crazy” is yet another eye-popping example of how Cohen is redefining baseball’s payroll limits, and yet “I’ve been dealing with big numbers for so long these numbers don’t scare me at all.  It’s not like I’m not respectful about what these other teams have to deal with.”

Giants, Carlos Correa Agree To 13-Year Deal

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The Giants have landed the star player they’d been seeking. San Francisco is reportedly in agreement with Carlos Correa on a 13-year, $350MM contract. The deal doesn’t contain any opt-out provisions but the Boras Corporation client will receive a full no-trade clause.

It’ll be the third team in as many years for Correa, who turned 28 in September. The longtime Astro hit free agency last winter. Generally regarded as the top player in that offseason’s class, he didn’t find the long-term megadeal he’d sought after declining a qualifying offer from Houston.

After the lockout, Correa pivoted to a shorter-term gamble on himself, inking a three-year guarantee with the Twins that paid him the largest per-year salary ($35.1MM) for a free agent position player in MLB history. That deal allowed Correa to opt out and retest the market this winter, and he was ineligible for another QO thanks to the CBA’s prohibition on a player receiving the offer multiple times in his career.

Correa’s 2022 campaign got off to a slower than expected start. He hit .243/.309/.324 in April, presumably dealing with some lingering effects of his late signing and cold early-season weather that took a toll on his power output. In the first week of May, Correa dealt with a scare when he was struck on the right hand on a check swing. Initial x-rays indicated he may have fractured his right middle finger, but follow-up testing revealed he suffered only a bruise. He still landed on the injured list but returned after a minimal stint. Aside from a brief stay on the COVID-19 list a few weeks later, Correa stayed healthy the rest of the way.

After returning from the finger bruise, Correa was one of the sport’s best players. He hit .299/.376/.488 in 487 plate appearances from mid-May onwards. Among 133 qualified hitters over that stretch, he ranked 14th in on-base percentage and 23rd in slugging. That excellent finish brought his season line up to .291/.366/.467 in 136 games. Correa’s overall offensive productivity was 40 percentage points above league average, by measure of wRC+. That’s right in line with the levels he’d established late in his time in Houston. Correa stumbled in the abbreviated 2020 campaign but had respective wRC+ tallies 42 and 33 points above average in 2019 and ’21.

Over the past four seasons, the former first overall pick has tallied just under 1800 plate appearances. He’s hit .281/.359/.481 with a strong 10.6% walk rate and a lower than average 20.4% strikeout percentage. Correa has posted a hard contact rate north of 42% in each of the past four seasons, well above the 35-36% league marks. Broadly speaking, there’s nothing to nitpick with his offensive ability. He makes contact, has strong plate discipline and has topped 20 home runs in six of the seven 162-game seasons of his career. Correa has unsurprisingly been better against left-handers than righties, but he’s been excellent against pitchers of either handedness. He owns a .291/.386/.482 career mark against southpaws, while he’s hit .274/.346/.477 against same-handed arms.

Correa had some injury issues earlier in his career, missing time in 2018 with back discomfort and fracturing a rib in 2019. He’s only twice topped 600 plate appearances in a season, but the aforementioned finger contusion is the only non-virus ailment that has sent him to the IL within the past three seasons. With his recent health and the strong finish to his 2022 campaign, his camp made the easy call to opt out of the final two years and $70.2MM on his Twins deal.

For the second straight winter, he was the top free agent option in a loaded shortstop class. Even with Trea Turner, Xander Bogaerts and Dansby Swanson hitting the open market, Correa was the best available shortstop. Aaron Judge was the market’s top free agent overall on the heels of an MVP-winning, 62-homer season, but one can argue Correa was the best long-term bet available.

In addition to his strong offensive track record, the two-time All-Star is typically one of the sport’s most valuable defenders. Defensive Runs Saved has pegged him as an above-average shortstop in every season of his career. Altogether, DRS has pegged him as 70 runs better than par in more than 7600 innings. Statcast hasn’t been as bullish, but it also generally rates him as a plus gloveman. Statcast has pegged Correa as 17 runs above average since it began tracking defense in 2016, including plus grades each year from 2018-21.

Correa’s defense marks were particularly excellent during his final season in Houston, when he rated as +20 runs by DRS and +9 runs at Statcast. He secured his first career Gold Glove award in the process. This year’s reviews weren’t so impressive. DRS still considered him a net positive at three runs above average, but that was the lowest mark of his career. Statcast pegged him two runs below par, his first below-average showing by that metric since 2017.

Defensive metrics can vary on an annual basis, and it doesn’t seem San Francisco’s concerned with this past season’s mid-tier showing. Correa boasts a plus arm and has generally been very sure-handed. There may be some trepidation about how his 6’4″, 220 pound frame will hold up into his mid-late 30’s, particularly since he’s only an average runner. With his hands and arm strength, however, the Giants can at least project above-average glovework for the next few seasons.

San Francisco has four-time Gold Glove winner Brandon Crawford under contract for another year. They didn’t enter the offseason needing shortstop help necessarily, but their infield around Crawford had its share of question marks. San Francisco re-signed Wilmer Flores to a two-year guarantee to add a productive righty bat to the mix at first, second or third base. Tommy La Stella is under contract for another season but hasn’t played well since landing in San Francisco. J.D. Davis and David Villar are on hand as corner options, while Thairo Estrada can cover the middle infield and adds a solid righty bat.

There are a lot of moving pieces available for skipper Gabe Kapler, but adding Correa figures to solidify the left side of the infield with an everyday pair. Susan Slusser of the San Francisco Chronicle wrote last month the team planned to move Crawford to the hot corner if they were to sign Correa. Crawford has never played an inning outside of shortstop in the majors, but he figures to handle the less demanding position well.

While shortstop itself may not have been a priority for president of baseball operations Farhan Zaidi and his front office, adding impact talent certainly was. The Giants made no secret of their desire to land Judge. When he returned to the Bronx, the club pivoted to Correa — the clear top hitter remaining. He’ll now become the highlight acquisition of the offseason, joining outfielder Mitch Haniger and pitchers Sean Manaea and Ross Stripling as players brought in to try to rebound from an 81-81 campaign.

Doing so requires one of the largest investments in major league history. The $350MM guarantee checks in as the fourth-largest ever. It’s the second-biggest free agent deal of all-time, just narrowly below the $360MM deal that Judge inked a week ago. Correa becomes the second free agent to land a 13-year contract, matching the record length secured by Bryce Harper with the Phillies over the 2018-19 offseason. The deal runs through the 2035 campaign, what will be Correa’s age-40 season.

That kind of lengthy megadeal has become en vogue this offseason. Turner and Bogaerts signed 11-year deals with the Phillies and Padres, respectively, taking them each through their own age-40 seasons. Judge inked a nine-year deal that paid him through age 39. MLBTR had predicted Correa for a nine-year, $288MM contract at the start of the offseason. As with Turner and Bogaerts, those deals lasted longer than anticipated, with each correspondingly securing a greater guarantee than expected.

That has involved a bit of a tradeoff with regards to annual salary, however. Correa’s deal comes with an average annual value around $26.92MM, a mark that’s outside the top 25 in MLB history. That’s well lower than the $32MM per-year salary MLBTR had projected, with the Puerto Rico native electing to sacrifice some money on an annual basis to secure a larger total sum. Doing so could very well position him to spend the remainder of his career in the Bay Area.

From a team perspective, spreading the guarantee over a longer term adds more future downside but has the more immediate benefit of reducing the club’s luxury tax hit. A team’s CBT commitments are based on deals’ average annual values, and the $26.92MM mark is more manageable in that regard.

That’s now relevant for the Giants, whose payroll has spiked dramatically. The specific financial breakdown isn’t yet clear, but an evenly distributed salary would push the Giants 2023 payroll around $190MM, as projected by Roster Resource. Their luxury tax figure is about $206MM, $27MM below the base threshold. San Francisco’s spending is well above the $150-155MM range of the past few seasons, but it’s still shy of their $200MM franchise-record Opening Day mark from 2018.

The Giants could keep pushing forward as they jostle for position atop a stacked NL West with the Dodgers and Padres. The bullpen is still a question mark, and San Francisco could look into upgrades at first base and/or center field. The Giants remained involved in the bidding for ace Carlos Rodón as of this afternoon as well, although signing both Correa and the top remaining free agent starting pitcher may push beyond their financial comfort level.

As for Correa’s now-former team, they’ll be left to regroup having missed out on their top target of the winter. Minnesota offered a 10-year deal worth $285MM, tweets Jon Heyman of the New York Post. That came with a higher annual salary than the offer Correa actually accepted, but the Twins were apparently reluctant to commit deep into his 30’s. They’re now facing an uncertain shortstop situation, with Kyle Farmer and Royce Lewis looking like the top internal options.

Minnesota has already had some discussions with Swanson this offseason, keeping tabs on him as a fallback possibility to Correa. The organization should have a decent amount of financial flexibility and could now pivot more strongly after Swanson if they’re determined to address shortstop. They’ve also been linked to Rodón at various points and could try to allocate their spending capacity to a top-of-the-rotation arm. The Twins surely aren’t done in any event, although that’ll be little consolation for the front office and fanbase for the moment. Because Correa was ineligible for the qualifying offer, they don’t receive any compensation for his departure.

It’s the latest massive move in an offseason that has gained plenty of steam since the calendar flipped to December. Correa joins an increasingly loaded division and, more generally, a very competitive National League. In the process, he becomes the new face of the Giants — a role the club hopes he’ll effectively hold well into the next decade.

Jeff Passan of ESPN first reported Correa and the Giants had agreed to a 13-year, $350MM contract. Jon Heyman of the New York Post reported the deal didn’t include any opt-out provisions but contained a full no-trade clause.

Image courtesy of USA Today Sports.

Latest On Carlos Rodon’s Market

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10:42pm: The Yankees have indeed put forth an offer to Rodon, Heyman writes. There’s apparently still a fair bit of work to do in order to get a deal done, as Heyman indicates there’s a notable gap between New York’s proposal and Rodon’s asking price.

2:55pm: Carlos Rodon is the clear top pitcher remaining on the open market, and despite a lofty asking price reportedly in the $200MM neighborhood, multiple clubs remain in pursuit of the left-hander. Jon Heyman of the New York Post reported yesterday that the Yankees are prepping a formal offer for Rodon, and Brendan Kuty of NJ.com now tweets that the Yankees appear to be Rodon’s preferred landing spot. However, Kuty adds that both the Twins and the Cardinals both remain “seriously in play” for the southpaw as of this afternoon. Meanwhile, Susan Slusser of the San Francisco Chronicle tweets that even after agreeing to identical two-year, $25MM deals with both Ross Stripling and Sean Manaea this week, the Giants are still involved in Rodon’s market.

The Twins’ interest in Rodon is perhaps contingent on the looming decision of Carlos Correa who, like Rodon, is represented by the Boras Corporation. Dan Hayes of The Athletic suggests that Correa remains the Twins’ top priority, though he adds that the team nonetheless made a pitch to Rodon earlier in the month (Twitter thread). Given that the Giants are viewed as Minnesota’s primary competition for Correa, it’s fair to wonder whether both clubs might be prioritizing Correa with the intent of pivoting to Rodon should they be spurned by Correa. That both players have the same agent makes concurrent negotiations a smoother process.

After agreeing to a three-year deal with free-agent catcher Christian Vazquez yesterday, Minnesota projects to about $107MM in total commitments for the upcoming season. That’s well shy of the more than $140MM they spent on last year’s Opening Day roster, but not so far south of the mark that it becomes easy to envision a scenario in which both Correa and Rodon sign on to call Target Field home. The Twins have drawn interest in right fielder Max Kepler this winter, but even in the event of a Kepler deal coming together, a Correa/Rodon combo would push Minnesota well past $150MM in total payroll for the first time in franchise history and would likely lock them into $75-80MM worth of annual commitments to the trio of Correa, Rodon and Byron Buxton.

The Giants, meanwhile, are roughly $43MM from their franchise-record Opening Day payroll even after their deals with Stripling and Manaea. Similarly, though, it’s difficult to see both players landing in San Francisco. The Giants are already a bit north of $180MM in terms of luxury obligations, and that pairing would likely push them into tax territory for the first time. That said, the Giants have topped $200MM in payroll before, and the only player currently signed beyond the 2024 season is Mitch Haniger, who’s signed through 2025. The Giants have been averse to long-term contracts under president of baseball operations Farhan Zaidi, though they made hefty bids for both Aaron Judge and Bryce Harper under his watch.

As for the Cardinals, they were linked to Rodon this past weekend, and Kuty paints them as a fairly prominent player in the bidding. The Cards would make for something of a surprise bidder, having already spent $87.5MM to bring Willson Contreras to St. Louis on a five-year contract. Signing Rodon would likely mean doling out the largest commitment in franchise history and pushing payroll to height never before seen in St. Louis. The Cardinals’ current record for Opening Day payroll is a bit more north of $163MM, in 2021, but they’re already at that rough level right now Rodon could well take them north of $190MM.

Circling back to the Yankees, they at one point reportedly hoped to limit any Rodon deals to four or five years in length, though that doesn’t seem likely to get them in the ballpark. With Judge and Cole both locked into a combined $76MM in annual commitments through the 2028 season (2029 in Judge’s case), adding Rodon to the mix would require budgeting more than $100MM annually for a trio of players for at least the next six years. Giancarlo Stanton is under contract through 2027, as well, further complicating the long-term scenario for Rodon.

At present, Roster Resource projects a $266MM luxury-tax ledger for the Yankees. They’re already set to pay the tax for a second straight season, so they’ll owe $6MM on the first $20MM by which they cross the $233MM threshold and $8.5MM on the next $20MM. Once they reach $273MM in luxury obligations, they’ll be taxed at a rate of 75%, and they’d be taxed at 90% on any dollars beyond the $293MM mark.

Speculatively penciling in an even $30MM AAV (which could, of course, be off by a few million dollars one way or another), the Yankees would jump from their currently projected $11.74MM of penalties all the way up to about $32.65MM in penalties. In other words, they’d pay an approximate $21MM in taxes on top of Rodon’s actual salary for the 2023 season. Passing the luxury threshold by more than $40MM would also drop the Yankees’ top pick in the 2023 draft by 10 places, and any Rodon deal would make it quite difficult to drop under the tax line (and avoid even steeper tax rates as a third-time offender) in 2024.

Mets Interested In Carlos Correa

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The Mets are showing interest in Carlos Correa, report Ken Rosenthal, Dan Hayes and Andy McCullough of the Athletic. It’s not clear precisely how committed they are to making a run at the top remaining free agent, but their presence on at least the periphery of the market makes for a fascinating twist.

This offseason has been dominated by Mets headlines, with the team signing a number of top free agents. New York made nine-figure commitments to retain Edwin Díaz ($102MM over five years) and Brandon Nimmo ($162MM over eight years). The Mets brought in Justin Verlander on a two-year, $86.66MM deal — tying the annual salary record they established with last offseason’s three-year pact for Max Scherzer. They agreed to terms with Kodai Senga on a five-year, $75MM pact and have signed smaller but still notable deals with José Quintana (two years, $26MM) and David Robertson (one year, $10MM).

That spending spree added to a roster that already had the league’s highest payroll. Certainly, the Mets faced a number of key departures as well. They allowed Jacob deGrom, Chris Bassitt and Taijuan Walker to sign elsewhere. That said, they’re already projected well beyond this year’s spending level. New York opened the 2022 campaign with a player payroll around $264MM; they’re projected by Roster Resource at a staggering $336MM figure for next season.

It’s an unparalleled number in league history, one that leaves open the question of how far owner Steve Cohen and his front office are willing to go. Cohen has proven himself undeterred by traditional spending habits, and he’s certainly seemed unfazed by the luxury tax that’s ostensibly in place to prevent any team from spending head and shoulders above the rest.

Roster Resource projects the Mets’ luxury tax number around $350MM at the moment. They’re $117MM clear of the base tax threshold and are going to blow past all four tiers of penalization. New York paid the CBT this past season, so they’re also facing escalating penalties for going over for a second straight year. The Mets will pay a 30% tax on their first $20MM above the threshold ($6MM), a 42% tax on their next $20MM in overages ($8.4MM), a 75% tax on their next $20MM in surplus spending ($15MM) and a 90% tax on any additional dollars. New York is currently an estimated $57MM above the fourth and final tier, one colloquially known as the “Cohen tax” after being introduced in the most recent CBA at least partially in response to Cohen’s reputation for spending. That’s another $51.3MM in taxes, bringing New York’s total projected tax bill to a staggering $80.7MM.

Of course, that’s before considering the possibility of adding another megadeal. Correa is the best free agent still on the board. At the start of the offseason, MLBTR forecasted a nine-year, $288MM contract. The two top shortstops already off the board — Trea Turner and Xander Bogaerts — each best our predictions, with Bogaerts’ $280MM contract coming in well above most expectations. In light of the strength of the market, Correa pushing past $300MM now seems likely, and one could argue for him to approach the $360MM guarantee Aaron Judge received from the Yankees given Correa’s youth and greater defensive value.

Even if we conservatively pencil Correa in for the pre-offseason prediction of $288MM over nine years, that’d come out to a $32MM annual salary. New York would be taxed at 90% on top of that, effectively making it a $60.8MM commitment to the star shortstop for next season. It’d be the kind of move a team has never made for an individual player, and again, that now seems a rather pessimistic view of Correa’s earning power. Certainly, the deal could push longer than nine years and lower the annual salary somewhat — Turner and Bogaerts each received 11 years despite being older than Correa — but any permutation of the contract would involve the team investing an immense sum. Cohen has clearly established himself as an owner unconcerned with precedent, and it’d be foolish to count the Mets out on any free agent at this point.

The Mets don’t need a shortstop, of course, with Francisco Lindor locked in as their long-term answer at the position. Third base isn’t accounted for by a star, with veteran Eduardo Escobar coming off an average season and top prospect Brett Baty still unproven at the MLB level. Relying on Escobar and Baty wouldn’t be a disaster, but installing Correa alongside Pete Alonso, Jeff McNeil and Lindor would lock in All-Star caliber players everywhere on the infield.

Beyond the Mets, the Giants and incumbent Twins are reported to be prioritizing Correa at this stage of the offseason. They’re widely viewed as the top suitors, while teams like the Cubs and Red Sox have been more loosely linked to him. Dansby Swanson, who’s drawing attention from many of the same clubs, remains available as the clear second-best position player still on the open market.

Giants Made Offer To Brandon Nimmo

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It’ll come as little consolation to Giants fans, but the team did have an offer on the table for top remaining free agent outfielder Brandon Nimmo before he wound up re-signing with the Mets for eight years and $162MM, according to Mike Puma of the New York Post. As Puma notes, it appears that once owner Steve Cohen got personally involved, Nimmo’s return to the Mets materialized quickly. It’s not known what terms the Giants were offering Nimmo.

It’s the second-straight outfielder the Giants have missed out on, having aggressively pursued Aaron Judge before he ultimately return to New York on a nine-year, $360MM deal. They have added Mitch Haniger on a three-year, $43.5MM deal but from the outset of the off-season they’ve been strongly linked with the top free agents. They could still sign one, and they’re one of the teams (along with the Twins and Cubs, per the New York Post’s Jon Heyman) that are heavily rumored to be in on Carlos Correa.

The outfield has been an area of focus for president of baseball operations Farhan Zaidi this winter. Haniger’s addition bolsters their group, but Zaidi’s wanted two outfield signings. Now that they’ve missed out on the clear top two options available, it’ll be interesting to see whether they look for another outfielder, or go with a mix of Haniger, Austin Slater and Mike Yastrzemski and divert their resources to other options like Correa, or a starting pitcher.

If they do continue with their plans to add another outfielder, Andrew Benintendi is probably the top free agent available now. MLBTR predicted a four-year, $54MM deal for him, and given the Giants’ payroll space they could conceivably go after someone like that while still having space to pursue a long-term deal with Correa. They could also look to the trade market, and approach the Pirates about a deal to bring Bryan Reynolds back to the team that drafted him in 2016. While Reynolds is only due to make $6.75MM in 2023, he’s under club control for three more seasons and Pittsburgh looks to have a sky high asking price for him.

The Giants have a projected payroll of about $139MM as things stand, but they also have in the region of $60MM+ coming off the books at the end of next season. Given their payroll has stretched north of $200MM in recent seasons, they do have plenty of room to make a number of additions over the next season or two.

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