Archive for Transactions
Sunday: Joe Girardi and Brian Cashman told Dan Barbarisi and Jack Curry that Bailey’s timetable is likely not midseason, but closer to September. So yeah, this move is more about the 2015 bullpen than anything.
Saturday: The Yankees have added some potential midseason bullpen help. Tim Dierkes and Buster Olney report the team has agreed to an incentive-laden minor league contract with right-hander Andrew Bailey. The deal can be worth up to $2.5M and it includes an option for 2015.
Bailey, 29, is a local guy from New Jersey who went to Wagner College in Staten Island. He had surgery to repair a torn labrum and shoulder capsule last July, so he won’t be ready to pitch until midseason at the earliest. Bailey had a 4.91 ERA (4.68 FIP) in 44 innings for the Red Sox over the last two years while dealing with shoulder and thumb problems. He was legitimately one of the best relievers in the game before that, pitching to a 2.07 ERA (2.74 FIP) in 174 innings with the Athletics from 2009-11.
Torn shoulder capsules are very serious and no pitcher has returned from one to recapture his previous form. Guys like Chien-Ming Wang, Rich Harden, Johan Santana, and Mark Prior have all been derailed by torn capsules. I really think this move is geared more towards 2015 (especially with David Robertson due to become a free agent), but there is a chance Bailey will be able to help down the stretch this year.
Via Joel Sherman: The Yankees have signed infielder Dean Anna and left-hander Vidal Nuno to one-year contracts for 2014. While in MLB, Anna will earn the $500,000 league minimum while Nuno will earn $504,500. Both guys still have all six years of team control remaining and can not become free agents until after the 2019 season at the earliest. I’m sure we’ll see both Anna and Nuno with the big league team at some point this summer, maybe even on the Opening Day roster.
Via Matt Eddy: The Yankees have signed right-hander Cole Kimball to a minor league contract. I assume he received an invitation to Spring Training as well, meaning there will now be 27 non-roster players in camp this year.
Kimball, 28, is a local guy who was born in Brooklyn and raised in Hackettstown. He picked up eleven innings of big league experience with the Nationals in early 2011, but he had rotator cuff surgery that July and has only thrown 49 innings since. Last season he had an 8.06 ERA and 4.91 FIP in 25.2 relief innings for Washington’s Triple-A affiliate, striking out 25 and walking 14.
“Before he got hurt, Kimball attacked hitters with a heavy 93-97 mph fastball, a swing-and-miss splitter in the mid-80s and a power curveball in the low 80s. He can throw the curve for strikes or bury it as a chase pitch,” wrote Baseball America (subs. req’d) in their 2012 Prospect Handbook. The Yankees are clearly hoping Kimball gets back to his pre-surgery form as he gets further away from the procedure.
Via Peter Rolfe & Marty Shevelove: The Yankees have signed 17-year-old Australian right-hander Brandon Stenhouse to a six-figure contract. He also received money for college. “I have been waiting for many years to see if Brandon Stenhouse had the physical and mental makeup to be considered as a possible Yankee,” said John Wadsworth, the team’s scout in Australia. “I am pleased to see just how far this young man has progressed and his future is exciting to us all.”
Stenhouse, who is from Melbourne, will head to Tampa for a two-week orientation in April before returning home to graduate high school. He’ll then return to the U.S. full-time. At least two other teams were interested in signing him despite an ugly showing at the Under-18 National Youth Baseball Championships recently (eleven runs, seven walks, and four strikeouts in four innings). There isn’t much info out there about Stenhouse but the report says his fastball touches 93 mph.
The Yankees are already over their 2013-14 international spending pool just slightly, so Stenhouse will push them over even more. The team is planning to spend big internationally when the 2014-15 signing period starts on July 2nd. New York has signed a few players from Australia in recent years, most notably C Kyle Perkins and OF Adam Silva.
Via Joel Sherman: The Yankees have signed catcher J.R. Murphy to a one-year contract worth $502,700 at the MLB level. I assume it’s a split contract that will pay him a lower salary in the minors, which is typical for players in their pre-arbitration years. The league minimum is an even $500,000 this coming season.
Murphy, 22, hit .269/.347/.426 (~117 wRC+) with 12 homers in 468 plate appearances split between Double-A and Triple-A last season. He made his big league debut in September but is expected to return to Triple-A Scranton to open 2014. Murphy still has all six years of team control remaining and can not become a free agent until after the 2019 season at the earliest. The Yankees have 20 unsigned pre-arb players remaining, but they’ll all get done very soon and chances are most of those deals won’t even be made public.
Via Alex Seixeiro: The Yankees have signed right-hander Chris Leroux to a minor league contract with an invitation to Spring Training. He will presumably compete for a bullpen spot with other non-roster invitees like Brian Gordon, Robert Coello, and Matt Daley.
Leroux, 29, spent last year with the Yakult Swallows in Japan, pitching poorly (26 runs in 22 innings with a 14/11 K/BB) before a shoulder injury ended his season. He dominated in winter ball (2.76 ERA and 16/3 K/BB in 16.1 innings) and spent the 2011-12 seasons as an up-and-down arm with the Pirates. He’s got a 5.56 ERA (3.32 FIP) in 69.2 career big league innings. Leroux has a low-90s fastball and he relies heavily on his low-80s slider. Another arm for the stable.
As the title says, the Yankees have traded left-hander David Huff to the Giants for cash considerations, the team announced. Huff, who had a nice late-season run in a swingman role, was designated for assignment earlier this week to clear a 40-man roster spot for Masahiro Tanaka. Cash is better than nothing, which is what the team would have gotten had he cleared waivers and elected free agency.
Well that was fast. The Yankees have officially signed right-hander Masahiro Tanaka to a seven-year contract, the team announced. He will be the seventh Japanese-born player in team history (Hideki Irabu, Hideki Matsui, Kei Igawa, Hiroki Kuroda, Ryota Igarashi, Ichiro Suzuki). The 2004 Dodgers are the only other team to have two Japanese pitchers in one rotation (Hideo Nomo and Kaz Ishii).
To clear a spot on the 40-man roster, left-hander David Huff was designated for assignment. He had a nice run as a swingman late last year but he doesn’t really have a spot on the roster thanks to Matt Thornton, Vidal Nuno, and Cesar Cabral. Huff would have been a long man/second lefty in the bullpen at best. Maybe he’ll clear waivers and stick around as a non-40-man player, but electing free agency is more likely.
After weeks and months of waiting, the Yankees finally got their man. The team agreed to a seven-year contract worth $155M with right-hander Masahiro Tanaka on Wednesday morning, a deal that includes an opt-out after the fourth year. Add in the $20M release fee the team must pay the Rakuten Golden Eagles and the total investment is potentially $175M. The release fee will be paid out in installments.
Pretty much everything we know about Tanaka the pitcher is in this post. Now that he’s come to an agreement, some details about the contract itself and the Yankees’ pursuit have come to light. Here’s a roundup, courtesy of Joel Sherman, Ken Rosenthal, Buster Olney, Dan Barbarisi, Ronald Blum, Jeff Passan, Bryan Hoch, Jon Heyman, and Anthony McCarron.
The Yankees sent an eight-person crew to Los Angeles to meet with Tanaka face-to-face a few weeks ago, when he was essentially interviewing teams. Those eight people: team president Randy Levine, GM Brian Cashman, assistant GMs Jean Afterman and Billy Eppler, manager Joe Girardi, pitching coach Larry Rothschild, player development staffer Trey Hillman, and translator George Rose. Hillman just rejoined the organization and spent four years managing in Japan not too long ago. Hideki Matsui made a recruiting call at some point as well.
After listening to each team’s pitch and mulling over the offers, the two sides haggled a bit and Tanaka’s camp informed the Yankees they had to offer the seventh year to get a deal done, so they did. He may have turned down more money from another team, reportedly. I’m guessing the Cubs were the top bidder if another team did make a better offer, but that’s just a guess. The Yankees were informed Tanaka accepted their offer at 1am ET this morning, 3pm local time in Japan. I guess all the reporters were sleeping because the news didn’t break for another nine hours or so.
“I have been saying for well over a year now that it makes sense to meet [the $189 million threshold], but not at the expense of a championship-caliber team,” said Hal Steinbrenner following the signing. “I felt we needed another starter. We were not where we needed to be, in my opinion. So this should not be a surprise because [Tanaka] was the best free-agent pitcher available. He is one of the greatest players Japan has ever produced. He is tough. He has thrived under pressure. He will fit in well to New York.
“Market value is what one or more teams are willing to pay today. He is one of the best players Japan has produced and he has played well on the big stage in big games. I think he will be great for our organization and will do very, very well. But, honestly, I don’t feel that [we'd spend whatever it takes] for any player, as we showed earlier this offseason [with Robinson Cano]. That is not good for the family, our partners or the organization. There was a limit of what we were willing to do, but, yes, I felt it was important to get him.”
“We’re going to do what we’ve got to do to win. We had to make sure we had enough pitching to go together with our new lineup,” said Hank Steinbrenner following the signing. “There has been criticism of myself and my brother the last couple years that, gee, if our dad was still in charge, we’d be spending this and spending that and doing whatever it takes to win. He didn’t have revenue sharing, at least for most of his time. That’s what these people in the sports media don’t seem to get. If it wasn’t for revenue sharing, we’d have a payroll of $300M a year if we wanted to. So we’re doing this despite having to pay all that revenue sharing.”
The Yankees will not have Tanaka take a second physical. He was examined by Dr. Neal ElAttrache when he was in Los Angeles a few weeks ago as a way to facilitate the process, so the team reviewed the test results and are comfortable with them. It’s exactly what they did with Hiroki Kuroda two years ago. ElAttrache is the Dodgers’ team doctor who also consults for NFL, NBA, and NHL teams as well as PGA golfers. He’s not some quack like Dr. Nick. It’s surprising the Yankees aren’t having their doctors look at Tanaka but it’s not like they’re signing him sight unseen either.
The contract is very straight forward: Tanaka will earn $22M in each of the first six years and $23M in the seventh year. The average annual value is $22.14M for luxury tax purposes. Agent Casey Close insisted on the opt-out clause, which is the new trend in baseball. Close also secured opt-outs for Zack Greinke and Clayton Kershaw recently, plus the Yankees gave one to CC Sabathia a few years ago. A.J. Burnett opted out of his contract with the Blue Jays before signing with New York. They’re the cost of doing business these days.
Tanaka just turned 25 in November, so the four guaranteed years of his contract will cover his age 25-28 seasons. That’s really awesome, those should be his best years, at least in theory. The opt-out allows Tanaka to test free agency at age 29, when he could land another huge payday. That second contract, the one he signs at 29, will be the real scary one. We can consider this a four-year, $88M deal with a three-year, $67M player option for all intents and purposes, but there is some luxury tax calculation difference between an opt-out and a player option. It’s complicated.
The Yankees are going to have to make a 40-man roster move to accommodate Tanaka sometime before 5pm ET on Friday. He has to physically sign the contract by the deadline. David Huff seems most likely to get the roster axe but Ramon Flores is another option. The team could also work out a small trade to clear a spot. Either way, it’ll have to be done relatively soon.
These deals always contain some fun perks. In addition to the huge salary, Tanaka also receives a $35k moving allowance, a $100k annual housing allowance to be used in New York or near the team’s Spring Training complex in Tampa, and $85k to hire an interpreter of his choice. The Yankees are also giving him four first class round trip plane tickets from New York and Japan. Oh, and he gets a full no-trade clause.
In terms of total dollars, the $155M guarantee is fifth largest pitching contract in history, behind Kershaw ($215M), Justin Verlander ($180M), Felix Hernandez ($175M), and CC Sabathia ($161M). It is the ninth largest pitching contract in history in terms of average annual value, behind Kershaw ($30.7M), Verlander ($25.7M), Felix ($25M), Greinke ($24.5M), Sabathia ($24.4M), Cole Hamels and Cliff Lee (both $24M), and Johan Santana ($22.9M). It is the 18th largest contract in baseball history overall and by frickin’ far the largest ever given to an international player. The six-year, $68M deal the White Sox gave Jose Abreu earlier this winter was the previous record.
After seeing ratings and attendance (and revenue) plummet last year, the Yankees went all-out this winter to improve their team. They still have holes, yes, but they’re also much improved. Tanaka was their top pitching target all along and now he’s in pinstripes.
The Yankees have reportedly won the Masahiro Tanaka sweepstakes. Ken Rosenthal reports that they have agreed to a seven-year, $155 million contract, with an opt-out after 2017. Counting the $20 million posting fee, that amounts to seven years and $175 million, or precisely what they were offering Robinson Cano earlier this off-season.
Mike already told you everything there is to know about Tanaka, so now seems like as good a time as any for a refresher. NPB Tracker also has a nice breakdown of Tanaka’s pitch data and game logs from the past few years, though it does not include 2013 data.
The new posting system, combined with the Yankees’ desperate need for another starting pitcher, created this situation. In the past the Yankees might have bid $75 million and worked out a $50 or $60 million contract. Just yesterday Joel Sherman wondered if the Yankees’ financial advantages might not be the same as in the past: “And is it possible there are organizations beyond the Dodgers ready to do the monetary staredown with the Yanks?” Apparently not.
The Yankees have now spent $474 million this off-season, and they might not be done. Now that they’re over the luxury cap, they can continue flexing their muscles by spending money to fill the current roster holes. The next few weeks could get interesting.