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  • Winter Meetings: Reliever Roulette


    Nick Nelson

    The free agent relief market is finally beginning to take shape at the Winter Meetings. The Minnesota Twins, for now, are biding their time. And while they clearly have a need, early developments on this front are proving them wise to wait things out.

    Image courtesy of Peter G. Aiken, USA Today (Fernando Rodney)

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    A few popular Twins targets have come off the market this week, with Pat Neshek (Phillies), Brandon Morrow (Cubs), Bryan Shaw (Rockies) and Tommy Hunter (Phillies) all reaching agreements. And while you may be feeling bummed to miss out on some of these names – especially a hometown guy like Neshek, or a reliable stalwart like Shaw – it should be negated by these two facts:

    One, there are still plenty of options left in a deep class. And two, these particular hurlers signed at very steep rates.

    Morrow got $21 million over two years. Neshek got $16.25 million over the same term. Shaw is looking at "three years, somewhere in the range of $9 million annually."

    These are hefty prices to pay for relief pitchers, the most notoriously volatile of baseball assets. Brian Dozier will make $9 million in 2018 and is in line to be the fourth-highest paid player on the roster.

    The Twins are coming into some financial flexibility, but they still need to be thoughtful about how they're allocating payroll and committing money. While we'll all agree this bullpen could use some outside help, I don't think the Twins are well served in their current position to gamble on reliever roulette with those kinds of stakes.

    Dollars aren't the only finite resource for the Twins. There's also innings – this year and beyond. It seems safe to assume that (barring injury) Trevor Hildenberger, Ryan Pressly, Taylor Rogers and Tyler Duffey will be locks for the Opening Day pen. Gabriel Moya, Alan Busenitz and JT Chargois will all have very good cases for spots, if not at the start of the year then shortly after. Tyler Jay and John Curtiss are close. And then there are whichever members of the bloated starter mix end up converting to relief roles.

    This shouldn't preclude Minnesota from signing a veteran to a guaranteed contract, but it does temper the desire to hand out an expensive multi-year deal. The early action on the free agent market seems to reflect a growing trend – relievers are gaining prominence in the game, and their salaries are rising accordingly. As such, promising MLB-ready bullpen arms like the ones listed above are becoming especially valuable commodities.

    I honestly wouldn't feel terrible going into 2018 with the group they have, plus a few low-wattage signings with upside, but the primary issue is this: The Twins presently have no closing experience. While GM Thad Levine says he's "open-minded" that his closer of the future might be on the roster, he made clear he isn't keen on throwing any of his young arms directly into the fire.

    So the Twins are pursuing someone who can at least temporarily occupy the ninth inning from the outset next season. It's not going to be Wade Davis or Greg Holland. It probably won't even be someone in the range of Morrow and Shaw.

    A trade remains possible, but the same logic applies – are you going to forfeit significant assets for a piece you're not totally positive you need? The equation changes if we're talking about a potential bullpen ace like Raisel Iglesias, but I like to think the Twins are smart enough to avoid overpaying for, say, Alex Colome's 47 saves this year.

    At the Winter Meetings, Minnesota has been connected to three different veteran right-handed relievers, and all seem fairly sensible to me:

    1) Brandon Kintzler. The familiarity factor is there, he has a strong bond with Paul Molitor, and he has proven he can handle the job. Kintzler isn't a prototypical closer, and I'd argue that he is more useful pitching earlier in games when his heavy sinker can be deployed on-demand in tough spots. But this is part of the reason he makes sense; he's a valuable bullpen piece even if someone else steps in as closer, and despite his All-Star showing this year he probably will cost less than the likes of Morrow, Shaw, and even Neshek.

    2) Fernando Rodney. He ranks third among active pitchers in saves, and performed the job well enough as closer in Arizona this year, especially in the second half: 17/18 SV, 2.55 ERA, 11.3 K/9. Rodney's age (40) and history of wildness (career 4.4 B/9) make him a bit of a risky proposition but he can probably be had on a one-year deal and that's attractive to the Twins, even at an inflated cost. Multiple reports have connected Minnesota to Rodney, so there's definitely some smoke here.

    3) Juan Nicasio. It sounds like the Twins have talked to Nicasio's agent, signaling distinct interest following a breakout year for the Dominican. Bringing mid-90s heat, he posted a 2.85 ERA and 72-to-20 K/BB over 72 innings. He doesn't have much closing experience but did finish the year in that role for the Cardinals and there's really no reason to think he wouldn't be up to the task. Given his momentum heading into free agency, Nicasio will not be cheap (Morrow money isn't unrealistic), but if the Twins believe his 2017 was legit he'd be a piece worth building around with the youngsters.

    Feel free to share your own thoughts on the veteran relief market in the comments section, as well as any updates and rumors as they arise on Wednesday.

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    This is getting to be disappointing. It’s the same guarantee as Pineda received, but Pineda can’t pitch this year. You’d like to think the Twins could have beaten the offer, if they wanted.

    Looks like we are going to have to hope Hildenburger and Taylor Rogers can be the closer or 8th inning guy. 

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    While I am certainly a "let's wait and see" kind of guy that gives the benefit of the doubt, I will admit that the the combination of not signing anyone yet, and who we left exposed for the rule 5 draft does have me scratching my head a bit.

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    This is getting to be disappointing. It’s the same guarantee as Pineda received, but Pineda can’t pitch this year. You’d like to think the Twins could have beaten the offer, if they wanted.

    It may be that management is more confident than everyone else about its internal options. Who knows, maybe they’re right. I remember when Denny Green cut all of his veteran quarterbacks and said the inexperienced Daunte Culpepper, who had looked terrible in preseason opportunities, was going to start. Denny got ripped pretty hard, but Culpepper proved him right.

     

    I thought Kintzler's wife was passive aggressively nixing his return to Minnesota. Though she wanted him to go to AZ so who knows what to make of this.

     

    I had very little interest in a Kintzler reunion myself, I think this team needs to beef up it's strikeout numbers not lessen them. Also, I'd prefer not to revisit the days of "we're putting the band back together". In terms of the Twins, my aversion to sentimentality is very strong these days, I'd go out of my way to avoid it.

     

    Not that I'm not getting quite anxious about all the quality bullpen arms that are going elsewhere, I'm disappointed; just not disappointed in this one. 

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    Man if these guys don't sign at least 1 good reliever, I'm going to be a non-happy camper.  Cishek signs for $12-14 Mil across 2 years and Kintzler for $10m across 2 years, those aren't unaffordable. 

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    Tom Verducci with perspective: https://www.si.com/mlb/2017/12/13/free-agency-relief-pitchers-bryan-shaw-pat-neshek-jake-mcgee

     

    The relevant quote:

     

    "Let’s rewind the clock to the free agent market just two years to get an idea. After the 2015 season, teams handed out multi-year deals to 14 non-closer relievers at the cost of $197 million, or about $5.8 million per pitcher per season. In just two years, 13 of those 14 pitchers have either been hurt, pitched poorly (ERA+ worse than 100) or are no longer with the same team. Only one of the 14 pitchers has pitched effectively for his signing club for two years: Joakim Soria of the Royals.

    The landscape is littered with the likes of Tony Sipp (three years, $18 million), Antonio Bastardo (two, $12 million) and Mark Lowe (two, $11 million). Last year you had Brett Cecil (four years, $30.5 million and one of the rare no-trade clauses for someone who neither starts or closes games), Brad Ziegler (two, $16 million), Mark Rzepczynski (two years, $11 million) and Daniel Hudson (two, $11 million). All of them were disappointments."

     

    And his parting shot:

     

    "… The Marlins released Edinson Volquez, paying him $18 million to go away essentially to free up a roster spot. Here’s a reminder when you are a fan of a bad team and you want it to sign free agents this time of year: be careful what you wish for. Here are the Marlins’ free agent signings this decade: Volquez, Ziegler, Wei-Yin Chen, Jarrod Saltalamacchia, Placido Polanco, Jose Reyes, Mark Buehrle, Heath Bell, John Buck and Javier Vazquez. Ouch."

    Edited by Han Joelo
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    Tom Verducci with perspective: https://www.si.com/mlb/2017/12/13/free-agency-relief-pitchers-bryan-shaw-pat-neshek-jake-mcgee

     

    The relevant quote:

     

    "Let’s rewind the clock to the free agent market just two years to get an idea. After the 2015 season, teams handed out multi-year deals to 14 non-closer relievers at the cost of $197 million, or about $5.8 million per pitcher per season. In just two years, 13 of those 14 pitchers have either been hurt, pitched poorly (ERA+ worse than 100) or are no longer with the same team. Only one of the 14 pitchers has pitched effectively for his signing club for two years: Joakim Soria of the Royals.

    The landscape is littered with the likes of Tony Sipp (three years, $18 million), Antonio Bastardo (two, $12 million) and Mark Lowe (two, $11 million). Last year you had Brett Cecil (four years, $30.5 million and one of the rare no-trade clauses for someone who neither starts or closes games), Brad Ziegler (two, $16 million), Mark Rzepczynski (two years, $11 million) and Daniel Hudson (two, $11 million). All of them were disappointments."

     

    And his parting shot:

     

    "… The Marlins released Edinson Volquez, paying him $18 million to go away essentially to free up a roster spot. Here’s a reminder when you are a fan of a bad team and you want it to sign free agents this time of year: be careful what you wish for. Here are the Marlins’ free agent signings this decade: Volquez, Ziegler, Wei-Yin Chen, Jarrod Saltalamacchia, Placido Polanco, Jose Reyes, Mark Buehrle, Heath Bell, John Buck and Javier Vazquez. Ouch."

     

    How does that work compared to relying solely on the minors? You need relief pitchers.....

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    I am sure I said somewhere that I would rather the Twins go big for someone like Davis or Darvish or sign an old guy like Sabathia and try to squeeze out a year. This fits the old guy signing.

     

    I still don’t like it. Intellectually I know that many of the multi year reliever free agent deals work out badly for the teams. My intellect isn’t taking over here. It should be telling me that the likelihood of Rodney pitching acceptably well in 2018 is similar to many of the relievers recently signed. My gut isn’t impressed with the signing.

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    Bullpens are becoming the new currency.

     

    The Twins need to get bullpen serious.

     

    This is off season #3 of me saying this. 

     

    The prices are reflecting this, '

     

    Wish I would have bought reliever stock.

     

     

    Verducci thinks you would have been better off shorting the market from the perspective of results. Caveat: I think he isolated non-closers. But still 13/14? Yikes.

     

    https://www.si.com/mlb/2017/12/13/free-agency-relief-pitchers-bryan-shaw-pat-neshek-jake-mcgee

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    Terms are more favorable than first reported.

     

    In any case, isn't Rodney still on the mound pitching in game 163? I didn't know he was available.

     

    I had a picture of Derek on the phone, haggling while fondling a framed photo of Calvin Griffith.

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    .

    Like it. I know Rodney has his ups and downs, but this deal is reasonable considering his stats over the last few years and it seems like his teammates like him. It’s a short commitment at not much more than was paid to Kevin Jepsen in 2016. He probably won’t be The Guy, but he should be a guy who is better than a lot of what’s come out of the bullpen the last few years. If he’s terrible, they’ll eat it.

     

    Multi-year deals for relievers, as stated by Han Joelo above, can be expensive crapshoots.

    Edited by Deduno Abides
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    Verducci thinks you would have been better off shorting the market from the perspective of results. Caveat: I think he isolated non-closers. But still 13/14? Yikes.

     

    https://www.si.com/mlb/2017/12/13/free-agency-relief-pitchers-bryan-shaw-pat-neshek-jake-mcgee

     

    Verducci just went into my Dinosaur column on this special spreadsheet I keep by me.  :)

     

    I agree that shopping for bullpen arms is pretty volatile. The baseball highways are littered with poor numbers and big contract combo's... although... it should be pointed out that in the small sample size world of relief pitching, one horrible performance can be hard to overcome and some metrics can end up looking worse than they actually are. Regardless... you just gotta do it and do your best to do it right. 

     

    Monster bullpens are being built and they are producing victories. You handicap yourself getting a closer, a couple of setup guys and finishing off the staff with a bunch "I'm just trying to stay in the profession guys" who get to throw when the starter chokes. The closer goes down and everybody moves up a chair and pretty soon you are counting on one of those "I'm just trying to stay in the profession guys in a high leverage situation. 

     

    The Yankees had a great bullpen and still went out and got Robertson and Kahnle. We knocked Severino out in the 1st inning and that bullpen beat us. 

    The Indians bullpen was 7 quality deep. 

    The Dodgers had arms lined up. 

    The Red Sox. 

    The Astros 

    D-Backs

    Rockies

    The Nats didn't start with a great pen but they finished with a pretty nice one. 

     

    Of all the playoff teams... Only the Twins and maybe the Cubs had what "I myself" considered to be sub-par bullpens. 

     

    All 30 teams should be looking for or trying to create their own Andrew Miller. 

     

    I'm trying to think of a team that had a lights out bullpen and didn't make the playoffs. I can't off the top of my head. 

     

    All of this is driving the price up in my opinion. 

     

    The evidence seems to be pretty clear... The Year is soon 2018... baseball is different than it was two decades ago and bullpens are producing playoff teams.  :)

     

     

     

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    Verducci just went into my Dinosaur column on this special spreadsheet I keep by me. :)

     

    I agree that shopping for bullpen arms is pretty volatile. The baseball highways are littered with poor numbers and big contract combo's... although... it should be pointed out that in the small sample size world of relief pitching, one horrible performance can be hard to overcome and some metrics can end up looking worse than they actually are. Regardless... you just gotta do it and do your best to do it right.

     

    Monster bullpens are being built and they are producing victories. You handicap yourself getting a closer, a couple of setup guys and finishing off the staff with a bunch "I'm just trying to stay in the profession guys" who get to throw when the starter chokes. The closer goes down and everybody moves up a chair and pretty soon you are counting on one of those "I'm just trying to stay in the profession guys in a high leverage situation.

     

    The Yankees had a great bullpen and still went out and got Robertson and Kahnle. We knocked Severino out in the 1st inning and that bullpen beat us.

    The Indians bullpen was 7 quality deep.

    The Dodgers had arms lined up.

    The Red Sox.

    The Astros

    D-Backs

    Rockies

    The Nats didn't start with a great pen but they finished with a pretty nice one.

     

    Of all the playoff teams... Only the Twins and maybe the Cubs had what "I myself" considered to be sub-par bullpens.

     

    All 30 teams should be looking for or trying to create their own Andrew Miller.

     

    I'm trying to think of a team that had a lights out bullpen and didn't make the playoffs. I can't off the top of my head.

     

    All of this is driving the price up in my opinion.

     

    The evidence seems to be pretty clear... The Year is soon 2018... baseball is different than it was two decades ago and bullpens are producing playoff teams. :)

    Interestingly, maybe only one key reliever on those teams was a free agent signee last winter - Chapman. Two, if you count Jansen reupping with the Dodgers. A lot of key relievers were not expected to be, such as Morrow, and several of the guys who were expected to be important at the start of the season, such as Betances, Giles and Devenski, were almost meaningless in the playoffs. The Rockies may be an exception, but their season ended the same way the Twins’ did, and their signings were tailing off a lot at the end of the season.

     

    Everybody agrees that relievers are important. It may be that predictability is so bad that the Twins don’t want to sign multi-year deals right now.

    Edited by Deduno Abides
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    Where they were a year ago/recent transactions:

     

    Joe Smith, just signed for 2 years and $15 million:

    Signed by Toronto for 1 year/$3 million.  Traded to CLE for two prospects, one of whom is now 22nd on the Blue Jays list.

     

    Brandon Kintzler, 2 years and $10 or $15 million:

    minor league contract with the Twins (sorry, we all knew that)

     

    Steve Cishek, 2/$12-$14 million

    finishing a 2 year/$10 million contract he signed with Seattle, who traded him to TB.  An example of a "good" reliever contract?

     

    Juan Nicasio, 2/$17 million

    1 year/$3 million with the Pirate, waived midseason, claimed and traded.

     

    Luke Gregerson, 2 years/$11 million

    signed a 3/$18.5 deal with Houson. Good value?

     

    Pat Neshek, 2/$16.5

    signed a 2/12.5 with Houston in 2015, was traded to PHI for a PTBNL last November

     

    Tommy Hunter 2/$18 million

    Minor League signing by TB.

     

    Mike Minor 3/$28

    Finishing a 2/$7.25 contract with KC, previously had been non-tendered by ATL following injury, spent 2016 rehabbing.  Shades of Pineda?

     

    Yusmeiro Petit, 2/$10

    minor league deal with LAA

     

    Anthony Swarzak, 2/$14

    minor league deal with CWS

     

    Bryan Shaw, 3/$27

    acquired via trade, just finishing up rookie contract years

     

    Brandon Morrow, 2/$21

    minor league deal with Dodgers

     

    I bolded the minor league deals--that is $90 million dollars allocated this offseason to guys who signed as minor league free agents (plus Nicasio, who was also available to just about everyone for nothing.) I'm not really trying to say teams shouldn't sign expensive relievers, but there are plenty of good pitchers to be found out there, before they sign expensive contracts.

     

    Cishek, Gregerson, and Neshek (and others) are examples of good investments in relievers.

     

     

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