Penny Wise, Dollar Foolish: Overpaid, Underpaid Players

An examination of good bargains and bad investments in baseball always reminds us of the economic system that keeps salaries low for the first 3-5 seasons of a player’s career. So, naturally, most of the bargains are players in their first three years in the majors, and making less than $1,000,000.

With that in mind, here’s Athlon Sports’ midseason evaluation of how the players are earning their money in 2006. We begin with the best bargains, ordered from lowest salary to highest. Following is the list of players whose performance hasn't quite matched their lofty contracts, ordered from highest salary to lowest. (Stats are current through July 30.)

Penny Wise
Effective use of payroll dollars.       

Francisco Liriano, SP, Twins    327,000
The hard-throwing lefty, who was once acquired by the Twins along with Joe Nathan and Boof Bonser for A.J. Pierzynski, has a 0.96 WHIP and a 1.96 ERA. He began the season in the bullpen and has a save and a hold to go along with his 12 wins.

Josh Johnson, SP, Marlins    327,000
Currently leads the NL in ERA at 2.60. Like all the Marlins’ starters, he’s still improving.

Scott Olsen, SP, Marlins    327,000
Has nine wins and getting better.

Hanley Ramirez, SS, Marlins    327,000
Has stolen 29 bases and is third among all shortstops in runs.

Dan Uggla, 2B, Marlins    327,000
The All-Star is batting around .300 and slugging .500. Not bad for a second baseman, especially one playing for the rookie minimum.

Ryan Zimmerman, 3B, Nationals    327,000
Destined to emerge as the face of this “new” franchise in Washington. The top draft choice in 2005 is already a budding star. A slow start hampered his numbers, but he has hit over .300 since April. He should finish the season with 100 RBIs and close to 50 doubles.

Joe Borowski, RP, Marlins    327,500
Dependable closer for the surprising young Marlins.

Adrian Gonzalez, 1B, Padres    327,500
Has made both Ryan Klesko and Phil Nevin look bad at PETCO Park. He leads the Pads in batting average and home runs. Manager Bruce Bochy believes he has saved about 30 infield errors already this season.

Prince Fielder, 1B, Brewers    329,500
With a .290-19-54 line near the end of July, the son of Cecil is destined to outearn his father.

Brian McCann, C, Braves    333,500
Has anyone noticed this guy’s sweet swing? Oh yeah, he can catch too.

Curtis Granderson, OF, Tigers    335,000
Sparkplug at the top of the order has a .368 on-base percentage and has scored 64 times.

Jose Lopez, 2B, Mariners    335,000
His .268-9-58 line compares favorably with J.D. Drew’s .277-11-59. But maybe it’s not fair to compare an outfielder with a second baseman. Sorry J.D.

Chris Ray, RP, Orioles    335,000
Who needs B.J. Ryan? Ray has 26 saves replacing Ryan, who now is underpaid at $4 million.

Nick Swisher, OF, A’s    335,000
With 22 homers, 56 ribbies and 73 runs, the hitter made famous in the book Money Ball deserves a raise next season.

Jonathan Papelbon, RP, Red Sox    335,400
Wow! In 53 innings, he’s allowed 36 hits plus walks and struck out 54.

Bobby Jenks, RP, White Sox    340,000
Throws hard striking out 55 in 47.1 innings.

Freddy Sanchez, IF, Pirates    342,000
Maybe he won’t win the National League batting title. Maybe he won’t even be a regular for the remainder of his career. But this season has been magical for Sanchez.

Alex Rios, OF, Blue Jays    354,000
An injury derailed Rios’ fine season, but the leader in All-Star write-in votes is back in the lineup and appears to have picked up where he left off.

Ryan Howard, 1B, Philllies    355,000
Among the NL leaders in homers and RBIs. His .971 OPS is impressive for a near minimum wage guy.

Scott Kazmir, SP, Devil Rays    371,700
Ten wins for the Rays is worth a lot.

David Wright, 3B, Mets    374,000
Talk about the right stuff, the Mets have star power in young David. He can hit, field, talks a great game and has the appearance attractive to Madison Ave.

Justin Morneau, 1B, Twins    385,000
The British Columbia native has betted .377 in June and July with an OPS upwards of 1.100. During that stretch he has 17 home runs and just 23 Ks.

Joe Mauer, C, Twins    400,000
Once a prime time signee as a quarterback by Florida State, spurned Bobby Bowden to sign with the Twins and fans in Minnesota couldn’t be happier. Catchers aren’t supposed to make a run at .400, heck, catchers aren’t even supposed to win batting titles. Currently batting around .370 including a .452 stretch in June when the Twins went 19–7, and played their way into the postseason picture.
 
Jose Reyes, SS, Mets    401,500
The sparkplug of the Mets’ offense, Reyes is one of three MVP candidates for New York. The exciting leadoff hitter has 12 triples, 41 steals and 81 runs.

Bill Hall, IF, Brewers    418,000
Can play the outfield and anywhere in the infield. Strikes out too much, but has 24 dingers, 58 RBIs and 66 runs.

Chris Capuano, SP, Brewers    450,000
Considered an All-Star by Athlon Sports, the valuable lefty won 18 games last season and should approach that total this season, so he’ll make big bucks real soon.

Miguel Cabrera, 3B, Marlins    472,000
It’s puzzling as to why the Marlins haven’t locked up this youngster already. One of the brightest stars in the National League can play third or the outfield, and can rake with the best. He’s among the top five in the NL in batting, and should reach the century mark in both runs and RBIs.

Chase Utley, 2B, Phillies    500,000
An All-Star second baseman with a hitting streak longer than 30 games is worth much more than six figures.

Matt Holliday, OF, Rockies    500,000
Rockies’ stats are no longer aided by Coors Effect, so these are real: .324-19-63 with a .938 OPS.

Grady Sizemore, CF, Indians    666,667
He’s already scored 82 runs and driven in 49 while batting .302. He also attracts the ladies to the ballpark, and that’s always good for business.

Mark DeRosa, IF/OF, Rangers    675,000
Given up on by the Braves, DeRosa may turn out to be one of the few mistakes made by Atlanta’s front office.

Jamey Carroll, IF/OF, Rockies    700,000
Stick him anywhere on the field and anywhere in the lineup and he’s happy to the tune of a .316 average and a .821 OPS. He’s started games at 2B, 3B and SS, but made just two errors total in 661 innings.

Justin Verlander, SP, Tigers    980,000
Leads the young Tigers with 13 wins against only four losses. His 1.13 WHIP and 2.69 ERA place him among the league’s best.

Jason Bay, LF, Pirates    1,000,000
A .960 OPS and a .294-24-76 line makes this Pirate a steal.

Victor Martinez, C, Indians    1,000,000
V-Mart has been overshadowed by Mauer this season, but he’ll bat around .310 and drive in 100. Not bad for a catcher.

Rich Aurilia, IF, Reds    1,300,000
Signed off the scrap heap, Aurilia has been a godsend for a banged-up, non-productive infield in Cincinnati.

Erik Bedard, SP, Orioles    1,400,000
The young lefty has answered the call for the O’s. He’s 12–6 in 22 starts this season.

Bernie Williams, OF/DH, Yankees    1,500,000
Re-signed just to ensure he would retire a Yankee, Williams has been a necessity due to injuries to Gary Sheffield and Hideki Matsui. His leadership and presence alone are worth Mr. Steinbrenner’s pocket change.

Akinori Otsuka, RP, Rangers    1,750,000
Otsuka was supposed to have been Francisco Cordero’s setup man this season. But 21 saves later, Akinori is the man. In 44 innings he’s allowed just 43 base runners via hit or walk.

Rocco Baldelli, OF, Devil Rays    2,000,000
Injuries have robbed Baldelli of lots of money early in his career. He’s young enough to make it up.

Jeremy Bonderman, SP, Tigers    2,300,000
Is 11–5 and leads the Tigers in innings and strikeouts.

Aaron Harang, SP, Reds    2,350,000
These days 11 wins are worth about $3 million. So he’s already ahead of the game.

Gary Matthews Jr., CF, Rangers    2,387,500
The Rangers found the leadoff hitter and center fielder they thought they had found, first with Alfonso Soriano (who refused to play center) and Brad Wilkerson, who was acquired in the deal for Soriano this winter. Sarge Jr. has a .372 on-percentage.

Tadahito Iguchi, 2B, White Sox    2,475,000
One of the most unheralded, underappreciated players in baseball. He plays stellar defense, bats .290 and has scored 60 runs.

Brandon Webb, SP, Diamondbacks    2,500,000
In 2004, he walked 119 batters in 208 innings on his way to a 7–16 record. This season in 160 innings he’s passed just 28. His record in 2006 is 11–4.

Carl Crawford, OF, Devil Rays    2,625,000
A potential MVP candidate, Crawford is a leadoff hitter in the process of becoming a No. 3 hitter.

Travis Hafner, DH, Indians    2,700,000
Will challenge Big Papi for MVP honors, but Boston wins a lot more games than does Cleveland. But a 1.041 OPS is powerful stuff.

Bronson Arroyo, SP, Reds    3,000,000
Began the year with a bang, moving into the role of ace. He has since cooled, but owns a 1.17 WHIP and a 3.20 ERA while amassing 151.2 innings. He keeps the Reds in games when he’s on the mound.

Hank Blalock, 3B, Rangers    3,050,000
First baseman Mark Teixeira is not a bad bargain at $6.4 million, but Blalock has as many RBIs this season for half the price.

Michael Young, SS, Rangers    3,075,000
Seriously, how is it that 13 shortstops make more money than Young? The All-Star Game MVP has a batting title under his belt, plays excellent defense (at short or second) and is a winner. And that makes him the 14th-highest paid?

Nick Johnson, 1B, Nationals    3,200,000
First basemen who bat .300 and play Gold Glove-caliber defense with an OPS of .966 usually make at least five million.

Mark Loretta, 2B, Red Sox    3,250,000
He’s batting .304 and catches the ball at second. Doesn’t cover much ground, but he catches the ball.

Aaron Rowand, CF, Phillies    3,250,000
Rowand is batting just .259 with 10 homers. But his hard-nosed (literally) defense has played well in Philly. And considering to his right is Pat Burrell making $9.75 million, and to his left was Bobby Abreu, who, prior to his trade to the Yankees, had a $13.6 mil price tag, Rowand is a true bargain.

David Eckstein, SS, Cardinals    3,333,333
Solid defensively and a .300-hitter in the leadoff spot. Deserves more cash than the 11th-highest shortstop.

Omar Vizquel, SS, Giants    3,640,444
The Gold Glover should hit .300, steal 25 and score 100.

Craig Biggio, 2B, Astros    4,000,000
An elder statesman for the Astros who can still spark a rally. Great in the clubhouse.

Ramon Hernandez, C, Orioles    4,000,000
We thought the O’s were being a bit foolish giving him a four-year deal over the winter. But he has proven to be durable and has driven in 66 runs with 15 big flies and 22 doubles.

AJ Pierzynski, C, White Sox    4,000,000
Rubs most players the wrong way, but is a pest at the plate at .304.

B.J. Ryan, RP, Blue Jays    4,000,000
One of the few closers who earns two-inning saves. In 51 innings, 43 hits plus walks and 62 punchouts.

Josh Beckett, SP, Red Sox    4,325,000
Has signed on for another three years at a much better rate (for Beckett), but at 13–5 he has been a huge pickup for Boston.

Dontrelle Willis, SP, Marlins    4,350,000
At age 24 Willis is the elder statesman and leader of a terrific young staff. The former Rookie of the Year makes about 30% of the Marlins’ payroll.

Vernon Wells, CF, Blue Jays    4,470,000
Wells already owns Gold Gloves, and now he’s shooting for an MVP trophy. He has decent triple-crown numbers (.324-26-78) and a 1.005 OPS.

Tom Gordon, RP, Phillies    4,500,000
Held on to the notion that he could close again throughout the free agency process last winter. Most experts were skeptical, pegging him for a situational setup guy. Flash proved us wrong.

Trevor Hoffman, RP, Padres    4,500,000
Hoffman spurned offers of more years and more dollars from the Indians. He’s been shaky of late, but he’s a big reason the Padres are in first place.

Chris Carpenter, SP, Cardinals    5,000,000
There are 15 starting pitchers in the majors that will make twice as much as the reigning NL Cy Young winner. The Cardinals are benefiting for taking a chance on Carpenter when he was injured and on the shelf for more than a year.

Jermaine Dye, RF, White Sox    5,000,000
We were wrong in projecting him to be overpaid last season. And he’s proving to be even a greater bargain. He quietly leads the Sox with a .314 average.

Carlos Guillen, SS, Tigers    5,000,000
Has scored 61 and driven in 62 with an OPS of .878. Five shortstops make more dough.

Kenji Johjima, C, Mariners    5,433,333
Speaking of top catchers, K-Jo has been hot of late. He’s raised his average 30 points in the last month.

Brad Penny, SP, Dodgers    5,500,000
Has won 10 and even has a hold in one relief appearance. Earned the All-Star Game start and responded with three whiffs to begin the game.

Todd Jones, RP, Tigers    5,809,159
Stepped in when Troy Percival couldn’t answer the bell this season. ERA is a bit high, but he has 29 saves.

Nomar Garciaparra, 1B, Dodgers    6,000,000
Health is still a concern, but has been atop the NL in batting most of the season for far less than top first basemen make.

David Ortiz, DH, Red Sox    6,500,000
Our choice for the best bargain in baseball. Big Papi should win the AL MVP award. With 35 homers and 99 RBIs before the end of July, Ortiz is getting it done without any foolishness. And for about a third of what Manny costs the Sox.

Carlos Zambrano, SP, Cubs    6,500,000
Zambrano has been the Cubs’ ace for a couple of years now. He’s just not paid that way — yet.

Carlos Lee, OF, Rangers    8,500,000
With 81 RBIs for the Brewers, Lee was earning his $8.5 mil. Unable to sign him long-term, Lee now resides in Texas. He should be a great fit for the Rangers and earn a raise for 2007.

Johan Santana, SP, Twins    8,750,000
Santana has been the best starting pitcher in baseball over the past three seasons. Now he has competition on his own staff for that title in Francisco Liriano. In 152.2 innings, he’s allowed 155 hits and walks while striking out 159. Responded after a shaky start this season and is now 12–5 with a 3.01 ERA.

Jose Contreras, SP, White Sox    9,500,000
Started hot, won his first nine decisions. Now has lost last three, but still a vital cog on White Sox staff.

Alfonso Soriano, LF, Nationals    10,000,000
With the trading deadline come and gone, Soriano remains in Washington where he has again been one of the top players in the League. His effort and defense in left field has been a bit surprising given his reluctance to play the outfield initially. But the stats don't lie. He has 32 home runs in the lead off spot with 64 ribbies, 77 runs and 26 steals. It's safe to say he's worth every penny of his contract.

Mariano Rivera, RP, Yankees    10,500,000
Still the best closer in the game keeps the Yankees alive when all else is failing around him.

Ichiro Suzuki, RF, Mariners    12,530,000
Forget his hit record a few years ago. Forget his .346 average and 34 steals and 74 runs. Ichiro is the International face of Baseball, especially the Seattle Mariners. Plus he was instrumental in bringing a top catcher to the team.

Albert Pujols, 1B, Cardinals    14,000,000
AP is the best hitter in the game. He’s paid like the 11th best. Jeff Bagwell, Lance Berkman and Magglio Ordoñez will each make more than Pujols this season. Even the Marlins make more than AP.

Dollar Foolish
Wasted payroll dollars.

Jeff Bagwell, 1B, Astros    19,369,019
Hasn’t suited up this season and it’s unlikely he ever will again. The Astros sued for insurance payment for his salary. But it’s pretty much $19 million down the drain. No big deal.

Andy Pettitte, SP, Astros    16,248,416
The numbers are ugly: 139 innings, 173 hits, 50 walks, a 5.18 ERA. Maybe convincing his buddy Roger Clemens to join the Astros was worth it. Maybe.

Magglio Ordoñez, OF, Tigers    16,200,000
Is the Tigers’ leading RBI man with 75, but for $16 million you expect MVP-type stuff.

Chan Ho Park, SP, Padres    15,333,679
His 4.63 ERA may not seem like much, but it’s at its lowest since 2001, his last season for the Dodgers prior to his current contract with Texas. Currently on the DL.

Mike Hampton, SP, Braves    14,475,185
Sidelined since last August, the lefty had Tommy John surgery in September and will be out until next season. It’s tough to blame Dollar Foolishness on injuries, but at the same time the Braves, desperate for pitching, could use an extra $14 million to pick up an extra starter at the trade deadline.

Richie Sexson, 1B, Mariners    13,000,000
Adrian Beltre, 3B, Mariners    12,900,000
The Mariners are paying Beltre and Sexson to be the third- and fourth-place hitters, and they’re supposed to be the cornerstones for a resurgence in Seattle. But in almost 800 at-bats this season the two have combined to hit just .245 and score a total of 100 runs with 112 RBIs. For $25 million, the Mariners expected enough run production to win the AL West.

Javier Vazquez, SP, White Sox    12,000,000
With stellar starting pitching the White Sox dominated the postseason in 2005. Vazquez is now the highest paid starter and has the highest ERA (5.31) among the five-man rotation.

Kerry Wood, SP, Cubs    12,000,000
Surely the Cubs are on the verge of giving up.

Jason Kendall, C, A’s    11,571,429
He’s nabbed just 23% of would-be base stealers over the past season and a half. Catchers who don’t throw well and slug .322 can be found all over baseball. And most of them make less than $1,000,000. Kendall is absorbing 18% of Oakland’s payroll in 2006.

J.D. Drew, OF, Dodgers    11,400,000
His .277-11-59 line compares quite well with, say, Jose Lopez of Seattle who’s making $335,000.

Mike Sweeney, 1B/DH, Royals    11,000,000
Has been healthy for just 20 games. But he hit only .176 when in the lineup so it’s just as well having him sit. Expensive bench warmer though. Reportedly turned down trade offers from the Blue Jays for Alex Rios. As a former colleague once said, “Hindsight is 50-50.”

Phil Nevin, PH, Cubs    10,333,347
Surely all of baseball is on the verge of giving up.

Randy Wolf, SP, Phillies    9,125,000
Wolf joined the Phillies’ rotation at the end of July for his first action of the season. He must run the table in August and September to earn his cash.

Ryan Klesko, 1B, Padres    9,000,000
The Padres have lost most of their $9 million to Klesko’s shoulder surgery. He should be back in August. Perhaps he’ll help them to another division title.

Darin Erstad, 1B, Angels    8,750,000
Batted .220 with five RBIs in the 27 games in which he was healthy.

Jeff Weaver, SP, Cardinals    8,325,000
Poor Angels. Not only have they been forced to eat Weaver’s contract, but in order to permanently bring up his younger brother Jered, the Angels had to release older brother Jeff. A bittersweet day for the Weaver clan, for sure. While paying the minimum, the Cardinals could have the steal of the year if Jeff becomes a dependable starter again. After a few starts for St. Louis, the jury’s not looking favorably.

Carl Pavano, SP, Yankees    8,000,000
Hasn’t answered the bell for the Yankees this season. It’s doubtful the Marlins miss him.

Russ Ortiz, SP, Orioles    7,875,000
Blame the Diamondbacks for this one, not the Orioles. Arizona is the team stuck holding the bill since the Orioles picked up Ortiz off waivers. Baltimore must believe that pitching coach Leo Mazzone can work magic once again with Ortiz, who had his only real success in Atlanta. Opponents have batted .354 off him yielding a 9.23 ERA.

Keith Foulke, RP, Red Sox    7,750,000
It seems a long time since he closed out the 2004 World Series for the Red Sox in St. Louis. Foulke is now Papelbon’s setup guy and his numbers are decent, although his ERA is over 5.63.

Jaret Wright, SP, Yankees    7,666,667
Wright has answered the bell, starting 17 games. But in just 85 innings, he’s allowed 105 hits and more than 50 runs.

Troy Percival, RP, Tigers    6,000,000
Hasn’t pitched an inning, let alone earned a save.

Cristian Guzman, SS, Nationals    4,200,000
After hitting .219 last season, Guzman has been sidelined with a shoulder injury since spring training. After surgery in May, Guzman hopes to be ready for spring training 2007. But for what team and for how much?

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