Soriano Nets Three Years from Yanks

According to SI’s Jon Heyman, the Yankees and relief ace Rafael Soriano have agreed to terms on a three year deal worth $35M.  ESPN New York provided more of the details:

“Soriano has player options after the first and second years of the deal, according to the source. In the first year, Soriano will receive $10 million and get an additional $1.5 million if he opts out. In the second year, he'll receive $11 million and an additional $1.5 million if he opts out. He'll get $14 million in the third year of his contract.

An official said the player options were the Yankees' idea because they wanted Soriano to be comfortable. At least one official in the organization thinks they have the best bullpen in baseball.

Soriano's contract does not include a no-trade clause, a source told ESPN The Magazine's Buster Olney.”

I guess I should start out by apologizing to Heyman.  It turns out he wasn’t full of crap on this one.  What can I say?  As Scott Boras’s personal hand puppet, it was only natural to assume that Heyman was trying to trying to stimulate interest for Boras’s last high profile client.  I was wrong.  Instead, it was Brian Cashman who was playing a little game of misdirection.  I guess holding on to their first round draft pick wasn’t really that important after all. 

There are a couple of important things I want to note about this deal.  One, the Yankees now have the best late inning relief tandem in baseball.  With the eighth and ninth innings officially on lock down, opposing teams are now faced with the reality that they’re essentially playing a seven inning game every time they face the Yankees.  That’s a huge psychological advantage.  Additionally, the Yankees now have a great insurnance option to close games should Rivera either get injured or need some additional rest between appearances. 

Two, Soriano’s deal includes opt out clauses after the 2011 and 2012 seasons.  Considering how weak the next free agent class has the potential to be (excluding Pujols and Fielder), it wouldn’t surprise me to see Soriano opt after this season; especially, if he puts together another season on par with his 2009 and 2010 seasons.  At 31 years old, Soriano has a limited window in which to maximize his earnings.  While three years and $35M is a record breaking contract for a set-up man, Soriano doesn’t see himself in that light.  He sees himself as a closer, and rightly so.  If Soriano completes his three year deal, he will enter the 2013 free agent market as a 34 year old pitcher who is likely in decline.  In all likelihood, he would have very few multi-year offers (if any), and he would probably have to take a pay cut.  By opting out of his contract after the season, he’ll re-enter the free agent market two years younger; therefore, he’d be more likely to (really) break the bank as the top reliever available.

It will be really interesting to see how this situation unfolds.  Soriano opting out could have a major affect on the market for Jonathan Papelbon during the 2011-2012 offseason.  Papelbon has long expressed his desire to set the high water mark for closer contracts.  Considering his recent struggles, and the potential for Soriano to hit the market, Papelbon might find himself having to lower his long-term contract expectations.  It would not surprise me to see him stuck in Soriano’s position next year. 

It's All About the Benjamins, Baby

I love Buster Olney's daily column on ESPN.com--especially his "Heard This" section.  It's chock full of interesting links and information.  If you don't read it daily, I highly suggest you do.  Today, he some interesting information on the mercurial Rafael Soriano. 

"Heard this: The question of what role Rafael Soriano will play for his next team is very much secondary to what his salary will be. In other words, if some club was willing to pay him to be its bullpen catcher for $45 million over the next three years, Soriano would consider it; he is looking for a lucrative deal, which is absolutely his prerogative."

Buster, surely you jest.  A Scott Boras client that cares about money more than anything else? Well, I never! What are you going to tell me next? That Jon Heyman is a personal mouthpiece for the Boras empire? I will simply not believe one word of it! On that note, I bid you a good day. I SAID GOOD DAY, SIR!

So...Now the Yankees are Interested in Soriano?

This is odd.  Didn't Brian Cashman publicly announce that he's unwilling to give up his first round draft pick to sign Rafael Soriano?  I'm pretty sure he did.  Oh, yes, here it is.

"I will not lose our number one draft pick," the Yankees' general manager told the Journal News of Westchester. "I would have for Cliff Lee. I won't lose our number one draft pick for anyone else."

If the above quote is true, then why is Jon Heyman reporting that the Yankees are "still in" on Soriano?  Let's take a look at the facts.  No teams are willing to meet his 3 year $30M asking price.  The White Sox bullpen is set.  The Yankees are unwilling to give $10M per season to an eighth inning guy.  The Angels have plenty of money to spend after being spurned by Lee, Crawford, Werth, and Beltre, but they've proven to be completely incapable of participating in collaborative negotiating tactics.  What's a Boras client to do?  Scott Boras, the darkest of dark lords, calls on his chief minion, Jon Heyman, to tweet a false report of the Yankees interest on Twitter, of course!   Why does Boras ask Heyman to do this?  It's all about creating interest, and driving up the price.  This tactic might just work if anyone but Heyman was reporting it.  Instead, it's like the little boy who cried "mystery team."  No one reads his reports regarding Boras clients without a healthy dose of skepticism.

Nice Work if You Can Find It

Typically, top flight closers like Rafael Soriano don't have this much trouble finding work. 

Yesterday, Scott Boras told Andrew Marchand of ESPN New York that his client would have no problems being the Yankees set-up man.  This admission by Boras is a bit surprising because it shows he's having trouble gaining significant interest for Soriano.  In hopes of reigniting the market, Boras is using his old stand by to drum up interest.  After the disappointing offseason the Yankees have had, Boras is using the media to rile up the fanbase.  In doing so, he's hoping fans will pressure the front office into action.  Unfortunately for Soriano and Boras, the Yankees aren't interested.  While it's obvious to see how a Soriano-Rivera tandem would benefit the Yankees, making that scenario a reality is not that simple.

But Soriano comes at a high price, and not just in terms of dollars. It's a price that Brian Cashman insists he won't pay.

"I will not lose our number one draft pick," the Yankees' general manager told the Journal News of Westchester. "I would have for Cliff Lee. I won't lose our number one draft pick for anyone else."

Despite Soriano's new found role flexibility, his salary demands have remained rigid.  He's still reportedly looking for a three year contract with an average annual salary of $9-10M.  It doesn't take a genius to realize that even the best set-up man in the world isn't worth $9-10M per year--not even to a deep pocketed team like the Yankees  When you add in the fact that Soriano commands Type A compensation, it makes signing Soriano even more cost prohibitive.  If the Yankees signed Soriano at this point, they would be required to surrender their number one pick (31st overall) to the Rays in a draft that's widely considered to be stacked.  While surrendering your top draft pick might be acceptable when signing a top tier free agent, it's unacceptable when you're doing so to sign an overpriced set-up man.

The Yankees aren't the only team that's scared off by Soriano's asking price.  According to Jon Paul Morosi of Fox Sports, the White Sox are interested, but only at a reduced price.  The ChiSox appear to have met their maximum payroll threshold after signing Dunn, Konerko, and Jesse Crain to long-term contracts.  Even if they were able to sign Soriano for a reduced price, they still may end up having to make a corresponding move to clear some salary from the roster. 

Soriano put together a tremendous season for the Rays in 2010 saving 45 games in 48 chances, while putting up a 1.73 ERA, a 57/14 K/BB ratio, and a 1.6 fWAR.  For a pitcher that was one of the two or three best closers in baseball last season, his inability to find suitors interested in meeting his salary demands is nothing short of baffling.  Yankee manager Joe Girardi thought so highly of Soriano, he planned to use him as the closer in last year's All-Star game.  Now, he's talking about talking a role reduction?  It just goes to show how unpredictable free agency can be.  Jonathan Papelbon should keep a close eye on Soriano's experience.  It wouldn't surprise me to see him in a similar situation next year.

White Sox Interested In Soriano

Jon Heyman reports that the White Sox are interested in potentially signing Rafael Soriano.  I'm not sure why I didn't think of this before, but it makes a lot of sense.  When the White Sox allowed closer Bobby Jenks and right-handed set-up man J.J. Putz leave via free agency, it left them without an experienced closer.  Having an experience closer is not a requirement, but it is a nice asset for serious contender to have on their roster. 

Soriano would be an ideal option for the White Sox if they can fit his salary onto their payroll.  After signing Adam Dunn, Paul Konerko, and Jesse Crain to long-term, big money deals, it's not clear if they have the room without countering it with other moves that would allow them to shed payroll.  Currently their payroll is set at $110M.  This would represent a $7M increase over their 2010 number, and that's before the John Danks and Carlos Quentin are signed to their second-year arbitration deals.  The White Sox have been rumored to be interested in moving both Quentin and starting pitcher Edwin Jackson, so discussions for both of those players could be revisited in upcoming days or weeks.  

If the White Sox can't come to terms with Soriano, it's not like they're not without options.  They still have dominant power lefty Matt Thornton who is more than capable of filling their ninth inning duties.  Soriano is reported to be looking for a 3 year $30M contract.

Report: Yankees Not Interested in Soriano

According to Ken Rosenthal, the Yankees are not interested in signing former Rays closer Rafael Soriano. 

The Yankees already have the greatest closer of all time in Mariano Rivera, so Soriano would fill the role as eighth inning set-up man.  While the Yankees pockets are always deep, they don't seem to be interested in paying their set-up man $10M a year.  Soriano is reportedly looking for a contract around 3 years $30M contract. 

The wire on Soriano has been eerily quiet this offseason.  Most baseball insiders figured he would be among the hottest commodities available during the Hot Stove season.  With the Yankees publicly declaring their lack of interest, I'm having a hard time finding a clear market for Soriano's services.  The Angels, Blue Jays, Marlins, and possibly the Rangers (if Neftali Feliz moves to the rotation) could be in the market for a closer, but none have indicated they have anything more than a casual interest in the right-handed reliever. 

Soriano would be a tremendous addition to any bullpen.  In 2010, he went 3-2 with a 1.73 ERA (2.81 FIP), 45 saves in 48 chances, an impressive 57/14 K/BB ratio, and provided 1.6 fWAR.