I had a full weekend, and my work-week isn’t looking any lighter. So, here’s a quick breakdown of the big deals that went down in the hot stove league over the past weekend.
— The New York Yankees locked up two career Yankees, ending weeks of non-credible posturing that no one should have swallowed. While the Yankees might have parted with Mariano Rivera, they were not going to let Derek Jeter go—and Jeter really had no desire to go elsewhere.
Riviera agreed to a two-year, $30 million contract. The 41-year old is still pitching well, but when you get to his age, it’s hard to know how long a player has left. I have Rivera valued at about $10m/year. His value is bumped up for playing on a winner. Sounds like OK deal for Yanks and Mo.
The Yankees also came to terms with Jeter on a three-year, $51 million deal. I have Jeter valued at about $30 million over the next three seasons. Clearly, $17 million per year is a heck of a salary for his services. But, as I have stated above, his value to a winning team is greater than to an average team (on which my general estimates are based) and the the Jeter as Mr. Yankee premium is worth something that is difficult to measure. Jeter played his hand well, and the Yankees obviously think he’s worth it.
— Th St. Louis Cardinals signed Lance Berkman to a one-year, $8 million deal. As a first baseman, I have Berkman valued at $9.8 million. It is hard to get a grasp on how well he will play defense in the outfield, because he hasn’t played there since 2007. So, you could subtract some of that projected value, but I wouldn’t take away more than $1 million.
— The Boston Red Sox acquired Andrian Gonzalez from the San Diego Padres for prospects Casey Kelly, Anthony Rizzo, Reymond Fuentes, and a player to be named later. Gonzalez is owed $5.5. million in 2011, when I estimate he’ll be worth $17.5 million. I estimate that the prospects are worth an expected value of around $15 million, so I think the Padres got a reasonable haul of prospects for their star slugger. The Red Sox also benefit from having the sole negotiation rights to Gonzalez to haggle over an extension. Reports indicate that a seven-year extension is near, and that Gonzalez is seeking Mark Teixeira money. Over the next seven years, I estimate him to be worth $160 million ($23 million per year).
— The Washington Nationals signed Jayson Werth to a seven-year, $126 million deal. A few weeks ago, I thought five years was the best he could do. But, over seven years I estimate his worth to be $127 million.