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Blake Snell, Rays agree to five-year, $50 million extension

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Another day, another extension given to a pre-arbitration star.

Jeff Passan of ESPN reports that the Tampa Bay Rays and Blake Snell have agreed to a five-year, $50 million contract extension. The deal runs through Snell’s age-30 season and does not include any options. It covers this season, all three of his arbitration seasons and the first year in which he would have, potentially, been a free agent.

Snell, the reigning Cy Young Award winner in the American League, recently had his contract renewed for $573,700, which is barely above the league minimum. He did not take too kindly to that at the time. He will, obviously, will be paid much more now. At the same time, a pitcher of Snell’s caliber would be worth far, far more than $10 million a year for his age 26-30 seasons either on the open market or even by going through arbitration and then hitting the open market, assuming he remained healthy. He can only be had for that discounted amount thanks to the complete lack of leverage on his side. It’s a tradeoff, obviously — money know for the chance of money later, with some risk thrown into the equation — but it’s a tradeoff born of the relative power between the player and the club.

Such has also been the case with multiple other pre-arbitration players this offseason, with Eloy Jimenez and Alex Bregman most prominent among them. As we’ve noted several times lately, until a player gets to arbitration, he has no leverage. Through arbitration, he has limited leverage. The pre-arb and arb period lasts for 6-7 years. Teams, meanwhile, have placed greater and greater emphasis on building their teams around players in that window, thereby maximizing their leverage.

Which is why, however nice a payday $50 million is, Snell will make considerably less money than he could have if he had not taken the deal. His choice to be sure, but one strongly influenced by a Collective Bargaining Agreement which favors the clubs and their current patterns of player usage.

Buster Posey has opted out of the season

Buster Posey has opted out
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Buster Posey has opted out of the 2020 MLB season. The San Francisco Giants have issued a statement saying that they “fully support Buster’s decision. Buster is an integral part of our team and will be sorely missed, but we look forward to having him back in 2021.”

Posey and his wife are adopting identical twin girls who were born prematurely and who are currently in the NICU and will be for some time. They are stable, but obviously theirs is not a situation that would be amenable to the demands of a baseball season as it’s currently structured.

Poset had missed all of the Giants’ workouts so far, Recently he said, “I think there’s still some reservation on my end as well. I think I want to see kind of how things progress here over the next couple of weeks. I think it would be a little bit maybe naive or silly not to gauge what’s going on around you, not only around you here but paying attention to what’s happening in the country and different parts of the country.” He said that he talked about playing with his wife quite a great deal but, really, this seems like a no-brainer decision on his part.

In opting out Posey is foregoing the 60-game proration of his $21.4 million salary. He is under contract for one more year at $21.4 million as well. The Giants can pick up his 2022 club option for $22 million or buy him out for $3 million.

A veteran of 11 seasons, Posey has earned about $124 million to date. Which seems to be the common denominator with players who have opted out thus far. With the exception of Joe Ross and Héctor Noesí, the players to have opted out thus far have earned well above $10 million during their careers. Players that aren’t considered “high risk” and elect not to play do not get paid and do not receive service time.