| 14th January, 2008 - 8:34 pm
 By Christopher Reina
Teams overpay in free agency. Almost without fail, this happens.
The Reina Value was created in order to determine exactly how much each player in the MLB is worth in a given season.
Click here to learn more about the Reina Value
10. Jorge Posada remained with the Yankees with a $52.4, four-year deal. Posada ‘deserved’ a $9.9 million contract in 2007 and was actually paid $12 million, which put his RV at -18%. He will now average $13.1 million annually.
9. Francisco Cordero signed a four-year deal with the Reds worth $46 million. Cordero earned a $9.5 million contract in 2007, which made his RV a very good +75%. His annual $11.5 million average salary isn’t beyond reason and was one of the fairest contracts of the winter.
8. Eric Gagne signed a one-year, $10 million contract with the Brewers. Gagne was a disaster for the Red Sox and he ‘earned’ a salary of $2.8 million, but he made just $6 million so his RV was -53%. This was an excellent contract from Scott Boras’ side of the negotiations.
7. Aaron Rowand came to terms with the Giants on a five-year contract worth $60 million. Rowand ‘deserved’ a $9 million salary in 2007 and was paid just $4.35 million, giving him an excellent RV of +107%. Now that he is being paid an average of $12 million annually and no longer batting in the potent Phillies’ lineup, Rowand will likely be considered an overpaid player for the length of his days in San Francisco.
6. Carlos Silva signed a four-year, $48 million contract with the Seattle Mariners. Silva ‘earned’ a $7.21 million contract in 2007 and was paid just $4.33 million, giving him an RV of +67%. It is highly unlikely that he will play to his $12 million annual deal despite the spaciousness of Safeco Park.
5. Mariano Rivera re-signed with the Yankees for a $45 million deal over three seasons. Rivera ‘deserved’ a salary of $5.83 million, which gives him an RV of -44%. Closers tend to always be amongst the most overpaid players every single season, but the carry over effect of a blown save cannot be understated.
4. Mike Lowell signed a three-year, $37.5 million deal. He will now be paid $12.5 million annually, up from the $9 million he was paid in 2007. Lowell played to a $10 million salary in 2007, which gave him a Reina Value of +11%. His brilliant play in the postseason of course earned him an extra few million.
3. Andruw Jones signed a two-year, $36.2 million contract, giving him an $18.1 million annual average. Jones played to a $3.25 million contract, which made his Reina Value an atrocious -77%.
2. Torii Hunter signed a $90 million contract over five-years, meaning he will average $18 million per season. In 2007, he was paid $12 million, but ‘deserved’ a salary of $8.5 million, making his Reina Value a -29%. Like many excellent defensive players, the FIC does not adequately take defensive impact into account.
1. Alex Rodriguez ‘earned’ a $23.4 million contract in 2007, the highest in all of baseball. He was underpaid by +3.17%, something that will be impossible in 2008 as he will now be earning $27 million.
Other notables:
- Greg Maddux signed a one-year deal worth $10 million with the Padres. Maddux ‘deserved’ a $7.8 million contract in 2007.
- Curt Schilling reupped with the Red Sox for one-year, $8 million and a ton of incentives. Schilling played to a $5 million contract in 2007, but like Lowell, much of his value comes in October.
- Jose Guillen signed a three-year deal worth $36 million with the Kansas City Royals. He ‘deserved’ a salary of $4.5 million, just shy of his $5 million actual salary. |
