Bradley for Silva

The Chicago Cubs and Seattle Mariners agreed to swap their overpaid players Milton Bradley and Carlos Silva. Now, Silva is the bigger albatross, which is why the Mariners threw in $9 million to make the deal happen. Silva has two years and $25 million left on his contract, when I estimate he’ll be worth around $11.5 million—an asset that will lose $13.5 million. Bradley is owed $21 million over the next two seasons, when I estimate he’ll be worth approximately $17.5 million—an asset that will lose $3.5 million.

Thus, the Cubs will be taking on a player worth -$4.5 million (-$13.5 million + $9 million) in return for giving up a player who expects to cost them -$3.5 million. The Mariners trade $4.5 million in losses for -$3.5 million. On the balance sheet, the Mariners come out ahead, but not by much. It just goes to show that Milton Bradley really is a million dollar pain in the ass.


Addendum:
Apparently, Bradley is owed $22 million, not $21 million. So, the deal comes out to be about even.

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