Allen Barra uses my estimate of Roger Clemens’s worth to rationalize his signing by the Yankees.
Professor J.C. Bradbury of Kennesaw State University in Georgia tells the Voice that Roger Clemens isn’t worth it. In his new book, The Baseball Economist, Bradbury calculates the value of a win in terms of revenue created. He then credits each player for his contributions to those wins in monetary terms—sort of like Bill James’s theory of “Win Shares” converted to dollar signs. It’s complicated, but then so are both baseball and economics. The bottom line for Bradbury, economically speaking, is that Clemens’s worth is about $11 to $12 million, or about a third less than the Yankees will be paying him to start perhaps 20 games in what’s left of the season. (Actually, the cost to the Yankees is greater than Clemens’s reported $18.6 million salary. They’ll also be kicking in more than $7 million to Major League Baseball’s luxury tax fund.)
How is this rational? Read on.