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Grady, It's the Big One, Part II
2006-03-30 10:42
by Mike Carminati

In an attempt to put the Grady Sizemore contract in context, I want to project its impact given a variety of scenarios.

First, there's the Lyman Bostock scenario—Sizemore is hit by a bus, never plays again, and retires to Miami on the $24M the Indians owe him. This is what I would term a bad outcome for Cleveland. The Indians would buy him out in 2012 for $500K instead of $8.5 M. He record no further Win Shares for his career (it currently stands at 25).

Next, let's assume he plays out his contract but never again plays at the high level he displayed in 2005. Let's call that the Rick Manning scenario (to give Joe Charboneau a break—besides Manning was a center fielder, looked like a future All-Star when he came up, but had a long replacement-level career in Cleveland and Milwaukee). Again, the Indians buy out his contract for 2012. His Win Share total would increase by the replacement-level value of ten per year (for six years, that's 60 WS or 85 in total).

The third scenario is that Sizemore remains an All-Star caliber player throughout the remainder of the contract. The Indians use their 2012 option ($8.5M). Let's call that the Albert Belle scenario. His Win Shares would increase by around 20, to be conservative, each year for a total of 165 by the end of the contract (his current 25 please 20 per year for seven years).

The final scenario is that Sizemore becomes (or remains) one of the best center fielder in the game for the remainder of the contract. The Indians happily use their 2012 option. His Win Shares go up by about thirty per year for 235 by the end of his contract (25 plus 30 per year for seven years). We'll call that the Earl Averill scenario in honor of the Hall of Fame Indian center fielder.

Here's a summary of how the scenarios play out:

Player Salary Under 30 Win Shares $/WS
Grady Sizemore--Bostock $ 23,768,300 25 $ 950,732
Grady Sizemore--Manning $ 23,768,300 85 $ 279,627
Grady Sizemore--Belle $ 31,768,300 165 $ 192,535
Grady Sizemore-- Averill $ 31,768,300 235 $ 135,184

Obviously, the first scenario would be tragic for the Indians and the final one would be ideal. But how do the other two, more realistic scenarios in the middle play out for them?

We need to put them in context. I summed the salary and Win Share numbers for all players under the age of thirty (min 10 WS). Here are the under-30 players who cost the most and delivered the least:

Player Salary Under 30 Win Shares $/WS
Matt Mantei $ 18,319,999 27 $ 678,518
Kazuo Matsui $ 12,066,666 19 $ 635,088
Darren Dreifort $ 16,148,000 34 $ 474,941
Eric Milton $ 27,178,333 62 $ 438,360
Hideki Irabu $ 5,250,000 12 $ 437,500
Jaret Wright $ 15,606,667 36 $ 433,519
Jeff Weaver $ 20,375,000 47 $ 433,511
Felix Heredia $ 5,962,000 14 $ 425,857
Glendon Rusch $ 9,220,000 23 $ 400,870
Kerry Wood $ 30,185,000 76 $ 397,171
Alex Rodriguez $ 126,027,000 318 $ 396,311
Danys Baez $ 14,750,000 38 $ 388,158
Jose Lima $ 15,325,444 40 $ 383,136
Matt Morris $ 29,200,000 79 $ 369,620
Jermaine Dye $ 21,907,334 61 $ 359,137
Sidney Ponson $ 17,070,000 48 $ 355,625
Kevin Millwood $ 28,725,000 82 $ 350,305
Odalis Perez $ 13,945,000 41 $ 340,122
Carl Pavano $ 16,250,000 48 $ 338,542
Javier Vazquez $ 33,410,000 99 $ 337,475
Carlos Perez $ 7,985,666 24 $ 332,736
Dustin Hermanson $ 17,287,999 52 $ 332,462
Fernando Tatis $ 14,920,000 45 $ 331,556
Joe Mays $ 14,450,000 44 $ 328,409

If the Bostock scenario plays out, Sizemore deal would be the worst of the bunch above. However, given the more realistic Manning scenario, Sizemore would be rank 40th in dollars-per-Win Shares for players under thirty. That's bad but far from Kaz Matsui territory. Actually, it puts him right between a couple of other fairly successful center fielders:

Player Salary Under 30 Win Shares $/WS
Andruw Jones $ 60,206,500 215 $ 280,030
Preston Wilson $ 20,488,000 76 $ 269,579

To put the Belle scenario in context, here are the other players who would be within $10K per WS of Sizemore:

Player Salary Under 30 Win Shares $/WS
Jose Silva $ 2,230,000 11 $ 202,727
Johnny Damon $ 28,939,000 143 $ 202,371
Ben McDonald $ 16,658,334 83 $ 200,703
Juan Encarnacion $ 13,013,000 65 $ 200,200
Josh Beckett $ 7,790,625 39 $ 199,760
Dwight Gooden $ 27,120,002 136 $ 199,412
Eric Munson $ 3,187,500 16 $ 199,219
John Smiley $ 14,140,000 71 $ 199,155
Wes Helms $ 5,535,000 28 $ 197,679
Nomar Garciaparra $ 33,684,000 171 $ 196,982
Shawn Estes $ 9,055,500 46 $ 196,859
Mark Prior $ 8,150,000 42 $ 194,048
Kirk Rueter $ 9,295,000 48 $ 193,646
A.J. Burnett $ 9,671,500 50 $ 193,430
Jesus Sanchez $ 2,125,000 11 $ 193,182
Mitch Williams $ 12,462,500 65 $ 191,731
C.C. Sabathia $ 9,750,000 51 $ 191,176
Brad Penny $ 7,812,500 41 $ 190,549
Ken Griffey $ 52,272,731 275 $ 190,083
Adrian Beltre $ 25,540,000 135 $ 189,185
Steve Trachsel $ 10,958,500 58 $ 188,940
Pedro Astacio $ 11,486,000 61 $ 188,295
D'Angelo Jimenez $ 4,485,000 24 $ 186,875
Jason Johnson $ 5,590,000 30 $ 186,333
Darin Erstad $ 20,975,000 113 $ 185,619
Sammy Sosa $ 27,000,000 146 $ 184,932
Ted Lilly $ 5,536,000 30 $ 184,533
Dave Nilsson $ 13,764,133 75 $ 183,522
Esteban Loaiza $ 6,184,000 34 $ 181,882
Melido Perez $ 11,392,000 63 $ 180,825
Carlos Beltran $ 22,046,429 122 $ 180,708

For the Averill scenario, I ranked just the players with 175 Win Shares or more before the age of 30. Here are the cheapest from that group:

Player Salary Under 30 Win Shares $/WS
Darryl Strawberry $ 11,171,667 177 $ 63,117
Barry Bonds $ 18,373,332 273 $ 67,302
Will Clark $ 16,650,000 222 $ 75,000
Roger Clemens $ 14,785,250 185 $ 79,920
Albert Pujols $ 19,700,000 180 $ 109,444
Frank Thomas $ 26,060,000 219 $ 118,995
Chipper Jones $ 24,381,333 186 $ 131,082
Edgardo Alfonzo $ 25,229,000 186 $ 135,640
Greg Maddux $ 24,745,000 180 $ 137,472
Scott Rolen $ 26,509,000 186 $ 142,522
Miguel Tejada $ 27,617,000 189 $ 146,122
Manny Ramirez $ 28,070,000 192 $ 146,198
Roberto Alomar $ 31,323,758 212 $ 147,754
Ken Griffey $ 52,272,731 275 $ 190,083
Ivan Rodriguez $ 46,910,000 200 $ 234,550
Vladimir Guerrero $ 53,930,000 222 $ 242,928
Andruw Jones $ 60,206,500 215 $ 280,030
Derek Jeter $ 59,230,000 192 $ 308,490
Alex Rodriguez $ 126,027,000 318 $ 396,311

My conclusion? It's a good deal for the Indians with a bigger potential upside than downside. Now, let's regroup in 2013 and see how it turned out.

Comments
2006-03-30 21:40:11
1.   The Yanks and Stripes Forever
Good Analysis but the Indians lose little except his talents in the Bostock scenario considering that they'd have insurance. That also effects the $/WS value of the other scenarios.
2006-04-01 18:24:26
2.   Todd S
Congratulations, Mike. You put together a list where not only was Dreifort not the worst contract...it was only third-worst! (I wasn't sure that was possible.) It will also be interesting to see if Miguel Cabrera breaks into that last list soon.

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