Financial Value of Mets’ Non-tenders
The Mets have not tendered contracts to Jeremy Reed, Cory Sullivan, Tim Redding, nor Lance Broadway.
Personally, I enjoyed watching Reed and Sullivan, but neither will be worth what they could have made through the arbitration process. Redding finished strong in September but I can’t see offering him anything other than a minor-league contract. Lance Broadway’s greatest asset to the team was his last name.
Previously, the Mets did tender contracts to Alex Cora, Henry Blanco, Elmer Dessens, and Chris Coste.
Is it me, or is there little difference between the two above groups?
For those without calculators, let’s break it down:
2009 salaries: Reed ($925K) + Sullivan ($600K) + Redding ($2.25M) + Broadway ($402.5K) = $4,177,500
2010 salaries: Blanco ($750K) + Coste ($650K) + Cora ($2M) + Dessens ($700K) = $4,100,000
Yes, I realize the Mets replaced two backup OFs and two pitchers with two backup catchers, one pitcher, and a utility infielder. But that’s hardly of consequence in the grand scheme of things.
It’s true that the first group (the non-tenders) would have to have been offered arbitration, which almost certainly would’ve caused that final number to swell by anywhere from 10-25%. But at the same time, the second group includes a number of incentives that could increase that final number to well over $5M — so the bottom line number on both groups is pretty similar.
Moreover, the extra bonuses of the second group are not the “good” kind of incentives. Why not “good”? Because they are based on playing time, and if Henry Blanco, Alex Cora, and Elmer Dessens get into enough games to reach their incentives, then that means the Mets are having another awful season in terms of injuries. In other words, they will pay MORE for substandard performance (I’m assuming, of course, that PEDs are not allowed back into the game, and those three 35+ year-olds play down to their expected potential).
Conclusion? The Mets obliterate the financial value of non-tendering overpriced dead weight, by signing similarly overpriced dead weight. I think this is referred to as “running in place”.