The “Worst” Contracts In New York Sports History?

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This New York Times article by Benjamin Hoffman has all the earmarks of the editorial edict telling him to write something and hand it in for publication without caring what it was that he actually wrote in content or accuracy. Never mind that judging the “worst” contracts in New York sports history can only be done in retrospect, it’s a completely random analysis that hinges on so many factors that it’s impossible to predict whether a contract will be deemed “good” or “bad” until years after the fact. This was designed to stoke fan anger by bringing up players who drew their ire.

The baseball names listed are Alex Rodriguez, Carl Pavano, Johan Santana, Jason Giambi, Mark Teixeira, A.J. Burnett, Kei Igawa, Bobby Bonilla, Jason Bay and Oliver Perez.

Going one by one, let’s look at the reality of these signings when they were made and the “badness” of the contracts.

A-Rod

A fall for A-Rod was predictable to a degree. That said, he’d hit 54 homers and won his second MVP with the Yankees in 2007. No one could’ve foreseen the number of embarrassing off-field episodes and injuries that have befallen A-Rod along with the continued PED admissions/allegations. Reasonably, the Yankees could’ve expected five more “big” A-Rod years with MVP contention, then three years of good production followed by a decline in the final years of the deal. The “final years” decline came early and now he’s an albatross.

Pavano

Had the Yankees not signed him to that contract, the Red Sox, Tigers or Mariners would have. They signed a pitcher who: was entering his prime at 29; had logged 200+ innings in back-to-back years; won 18 games in 2004, was an All-Star and finished sixth in the NL Cy Young Award voting; pitched brilliantly in the Marlins’ 2003 post-season run to the World Series title—especially against the Yankees; was from the metropolitan area and grew up a Yankees fan. Why wouldn’t they have signed him? Who could’ve predicted that they’d get someone who hated being a Yankee, acted like it and found reasons not to pitch?

Santana

The Mets had collapsed the year before and blown a playoff spot. They needed an ace at the top of the rotation and Santana was a two-time American League Cy Young Award winner. They gave up essentially nothing in terms of players at the time and in retrospect and were looking for the last piece in a championship puzzle. He was brilliant in 2008, good in 2009, and then the injuries started. There’s not much that can be done about that. Had they not paid him, someone else would have as a free agent after the 2008 season.

Giambi

In seven years in pinstripes, Giambi had 209 homers and a .925 OPS. This was almost identical to the numbers he’d posted in eight years with the Athletics before the Yankees signed him. Did they not get what they were expecting?

Teixeira

He’s hit 135 home runs in four seasons, won three Gold Gloves and has been an old-school professional. How his contract can be labeled as one of the “worst” with four years to go is a mystery.

Burnett

The problem with Burnett is that the Yankees overpaid for him based on desperation and his potential while ignoring that he was 31 when they signed him and he was what he was: gifted and aggravating. Blaming him for being himself is silly. This was a bad and stupid contract.

Igawa

A George Steinbrenner signing done as a “response” for the Red Sox signing of Daisuke Matsuzaka, it’s similar to any form of retaliation: it’s usually shortsighted and does more damage to the one making the move than to the one they’re retaliating against. No qualified baseball person could have looked at Igawa and thought he’d be a success against Major League hitters.

Bonilla

Find an economist to explain the Mets’ reasoning for the deferment and whether they’re actually going to wind up making money on the deal instead of giving a broad-based overview as to why it was “bad.” I would guess that the Mets probably used that money to make even more money than they’re spending for its duration.

Bay

Even if Bay had a decline in production because of the switch to Citi Field and advancing age, no one could’ve predicted that he’d be as bad as he was.

Perez

This was a desperation contract like Burnett’s. Ironically, Perez is a similar pitcher to Burnett in that he was gifted, aggravating and the club signing him mistakenly expected something other than what he was.

Go through any contract and you can find a reason to rip it. The number of Evan Longoria-type contracts where the club gets more than they bargained for at the right price or lower are so few and far between that it would be easier to list those than to list the bad contracts and it would make for a much shorter piece without the finger-wagging “I told you so.”

It’s random and to make it worse it appears to have been done because the author was instructed to do it and find case studies to “prove” a point that can’t be proven in the first place.

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2 thoughts on “The “Worst” Contracts In New York Sports History?

  1. Bonilla: The stories I’ve read indicated that the Mets invested the deferred money with Madoff and he (ahem) made off with it. For Bonilla’s part, considering how many millionaire athletes end up broke by age 40, it was a brilliant decision.

    1. If Bonilla wound up broke at age 40 after all the money he made—deferments or not—I’d have zero sympathy for him. Bonilla was always a bright guy, but the brilliant decision was probably made by his representatives.

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