Massive Contracts in the MLB

   

        In the last three to four MLB seasons we have seen a major increase in long-term, big money contracts for talent of all ages. Historically, however, long-term contracts have been a bad investment for all teams across the board. For a long time I have always considered, as a best option to curb this issue would to be to enforce a contract-length cap, like the NBA does with their "max contracts". This would allow teams to save money both in the short run and the long run as the contracts' salary would be lower and if a player did not pan out, it would be easier to let them out of their contract or to find a suitable trade partner. I am going to take a look at a few of the worst long-term contracts in MLB history along with a few more recent long-term contracts to state my case for a contract length cap.

• Miguel Cabrera: 8-years, $248 million

            I am starting with this contract, because, as a long-term Detroit Tigers fan, this has been a pain to watch in recent years. Now, is Miguel Cabrera going to go down as one of, if not the greatest right-handed hitter of all time? Absolutely, but has he been worth the amount of money we are paying him on this contract since 2016? Absolutely not. 2016 was the year that they signed the big guy to this extension, ironically, this was his last big year. In 2016, he was an all-star, hitting .316/38/108 in 158 games. Since 2016, he has averaged just 109 games a year hitting .268/10/51. Obviously, this is a rapid, steep decline for a man that is being paid $31 million a season. Taking into consideration that Cabrera was 33 when they signed him to the extension, he was already towards the end of the prime of his career, but no one expected as rapid of a decline for the big guy. Since 2016, the Tigers have been perennial basement-dwellers in the A.L. central and Cabrera has done nothing to help the team get out of the basement. If he were not signed to such a big contract, we could spend that money on younger talents and really start a big rebuild.

• Prince Fielder: 9-year, $214 million

            Here we are once again, speaking on yet another long term deal that the Tigers did that would turn out to be a bit of a raw deal for the team. In the 2011-2012 offseason, the Detroit Tigers signed Prince Fielder to a 9-year, $214 million deal. At the time of his signing, there was a lot of high hopes for the Tigers as Fielder was touted as one of the top 10 players in the league. However, in just 5 short years, Fielder would be forced to retire due to injury and be out of the sport entirely.  

            Fielder had just 2 seasons with the Tigers before being traded to the Rangers, along with cash considerations for all-star second baseman Ian Kinsler. In those two years, Fielder did what he was brought in to do, protect Miguel Cabrera in the lineup and be a productive player for the Tigers. In both seasons with the Tigers, Fielder would play in all 162 games. His better of the two years was in 2012, in which he hit .313 with 30 home runs and 108 RBIs. Fielder would have a down year in 2013, hitting .279 with 25 home runs and 106 RBIs. Fielder would be traded to the Rangers in the 2013-14 offseason where he would play 3 seasons where he would play in only one full season in 2015 with a bit of a resurgence, however with 2014 and 2016 being injury riddled, eventually Fielder would be forced to retire due to a career-ending neck injury. This was a major case of what-could-have-been and both the Rangers and Tigers would continue to pay him until the 2020 season, eating up some of their cap space with a player who no longer could play for either team.

• Bobby Bonilla: 25-year, $29.8 million

            This will go down as the single-most stupid contract in the history of baseball. There is quite the backstory to this contract however, and I think it is important to highlight that backstory. The Mets inked Bonilla to a 5-year, $29 million deal in 1991. He had a productive first three-and-a-half years with the Mets as he amassed 73 home runs and a 128 OPS+ from 1992-1994. The Mets dealt Bonilla to the Orioles halfway through the 95' season, and in the following 4 seasons, Bonilla would play for four different teams. Ironically as it is, Bonilla rejoined the Mets in 99' and was released the following season. Upon his release, he was still owed $5.9 million. This is where the Mets made the worst financial decision in the history of baseball, the went into an investment partnership with the infamous Bernie Madoff, who convinced Mets ownership that it would be "more financially viable to defer payment for Bonilla's contract, spreading it across 25 years (2011-2035) with eight percent interest." This is the spark of what would become infamously known as Bobby Bonilla day. Every July 1st since 2011, the Mets have paid Bonilla exactly $1,193,248.20 like clockwork. If you'd like to read more about this infamous ownership blunder of the Mets, check out this post on blognews.com "Bobby Bonilla Day, explained: Why does the former Mets star get paid every July 1?"

Modern-Day contracts that could end badly

        I believe the best examples to look at for potential bad contracts are the contracts we have seen given to 3 of the top shortstops in the game of baseball today; Xander Bogaerts, Trea Turner, and Carlos Correa. The contract details are as follows:

• Xander Bogaerts: 11-year, $280 million deal with the San Diego Padres
• Trea Turner: 11-year, $300 million deal with the Philadelphia Phillies
• Carlos Correa: 13-year, $350 million deal with the San Francisco Giants

        The one major thing that stands out to me about these contracts is that each of these talented stars will be in their early 40's, in fact they'll all be turning 41 by the time their deals are up. All three of these talented shortstops certainly deserve to be paid, and paid accordingly for their talents, however, if Miguel Cabrera is any indication on what a long term contract can pay off to be when the talent is in their 40's by the end of their contract, these could turn out to be very bad investments for each of these teams. Now, maybe I end up being incorrect and these 3 men turn out to be the Tom Brady, Drew Brees and Aaron Rodgers of the MLB, but if history is any indicator of what could happen, I think we are in for some rough times ahead. 

Restructuring MLB Contract Details

        My proposal to fix this issue and not see these contracts and future contracts turn out like Miguel Cabrera's contract is to set a contract length cap. We've seen this work out for the NBA where stars are on a 4 or 5 year rookie contract depending on where they are drafted, and they become unrestricted free agents and can sign max contracts that max out at 4-years. I think this would be a great idea for the MLB to incorporate. Right now, the way contracts work for drafted players currently, is that they are obligated to a team for a minimum of 6 years, from being on a 3-year rookie deal, to 3 years of being salary arbitration eligible. They cannot explore free agency for 6 years, making these men be the ages of 24-28 years old depending on when they are drafted. MLB contracts and free agency has needed a revamp for a long time, and I think when it is finally looked ate, this is something that needs to be looked at as well. Teams and players could both benefit from this kind of deal, making it ideal in the big picture, I am sure there is much more to consider, but this could help control team payroll as well.