To date this winter, the Yankees have spent $12 million on other teams’ free agents. That covers just two players, Russell Martin at $4 million and Pedro Feliciano at $8 million. The Red Sox have spent just a little bit more, $157 million on Carl Crawford, Bobby Jenks, and Dan Wheeler. It made me wonder how the teams have approached the free agent market during the last five years. We know the Yanks have spent more in general, but how much more than the Sox have they spent?
That’s where we get this little spreadsheet, which covers each team’s free agent outlays during the last five years. That is, from the winter following the 2006 season through the current off-season. You can click for a larger version.
It does seem a bit surprising that the Yankees have spent just $33.9 million more in free agency than the Sox. While fans and the media perpetually accuse the Yankees of buying their teams, the Red Sox aren’t that far behind in spending on other teams’ talent. The difference, as is made clear, comes from how each team handles its own free agents.
In those five years the Yankees have spent $477.5 million more on retaining its own free agents as the Red Sox. True, the Sox never had a Rivera, or a Jeter, or an A-Rod reach free agency, so the situations aren’t exactly comparable. The point, I think, is that much of the Yankees’ spending goes to towards retaining the players on their roster.
No one is trying to deny the Yankees’ monetary advantage. They can do things that other teams cannot. But it’s not as though they’re poaching other rosters. One winter they went nuts and spent $423.5 million on free agents — or 89 percent of their total free agency outlay over the last five years. For the most part, the Yankees use their most abundant resource as a tool to retain their own players. Most other teams don’t have that luxury.
NOTE: I forgot Kei Igawa on the Yanks’ side of the table. But I also didn’t include the posting fee for Matsuzaka. Mike and I tackled this issue on the podcast.