The Yankees’ only lineup weakness exists in left field. Matt Holliday, an All-Star left fielder, remains on the market, mostly because no team has met his current contract demands. It seems the two match up perfectly, yet the Yankees have stated that they will not sign Holliday. Since the team made their budget the theme of the off-season, we can see clearly that in no way could Holliday fit into any budget of around $200 million. But are the Yankees really going to let money get in the way of a perfect match?
Maybe the match isn’t so perfect after all. Dave Cameron at FanGraphs discussed the topic from the lens of marginal value added. Maybe, he argues, the Yankees will stay away from Holliday not because he’s too expensive, but because his salary would not justify the improvement his addition would bring to the Yankees. After all, as Cameron explains, the Yankees are already a near-100-win team on paper. So, when considering Holliday (or the recently signed Jason Bay), the Yankees need to wonder exactly how much they benefit the team.
They are at the other end of the win curve, and it doesn’t make much sense to spend a lot of money there either. The marginal value of the 101st, 102nd, and 103rd win in terms of playoff odds is really quite small. And that’s approximately the upgrade that Holliday would represent over the current production that Gardner offers in left field.
Cameron’s analysis falls short in two areas. First, the strength of the team once it does make the playoffs. The Yankees might win 100 games with or without Holliday, but once the playoffs roll around they need all the ammunition they can muster. Holliday’s value inflates in that situation. Second, it doesn’t take into account future considerations. Maybe Holliday’s marginal value on the Yankees doesn’t project to much for the 2010 season, but that could significantly increase in future years as the roster changes.
Still, I’m sure the marginal value factor plays a large part in the Yankees’ decision making process. If they really do covet the 2010-2011 free agent class, then perhaps they’ll find an even better left field fit in that market. In that case they can avoid signing Holliday this season and a player who provides more marginal value for their 2011 team. It means they’d get more for their money, which, as we’ve discussed many times, is the business ideal.