How Are The Top 14 MLB Free Agent Acquisitions Performing in 2010?

The proof is in the pudding.

After months of free-agent hoopla, much of it focused on a few premier players, the 2010 season is beginning to reveal which acquisitions were wise and which weren't worth the contractual ink.

14 major players either changed teams or threatened to do so during prolonged flirtations with free agency.

As young as the season may be, it's never too soon to start patting ourselves on the back or castigating ourselves for blowing some bucks on free agents.

The following list is based on salary, from the low-risk, high-reward, short-term fixes to the big-bucks, long-term gambles.

Are they each worth the money so far?

Let's check in and rate these great spring hopes and their performances to date.

14. Marco Scutaro of the Boston Red Sox

Former Team: Toronto Blue Jays
Contract Terms: $12.5 Million / 2 Years
Date Signed: 12/4/2009
2010 Salary: $6 Million (including signing bonus)

The Red Sox certainly more than dabbled in free agency this offseason as they acquired John Lackey, Adrian Beltre, Mike Cameron, and Marco Scutaro—the most recent in a long list of temporary fixes at Boston’s shortstop position.

Coming off a career offensive and defensive year in Toronto, Scutaro was a gamble for the Red Sox in the sense that—as a Type-A free agent—he cost them in the 2010 First Year Player Draft.

Fortunately, the Red Sox acquired compensatory picks from Atlanta when they signed Billy Wagner, another Type A.

With shortstop heir-apparent and Cuban-import Jose Iglesias waiting in the wings, Scutaro need not survive a long contract to prove a Fenway success.

The former Blue Jay need only come close to his 2009 production during his two-year Boston stint. After all, he’s following Julio Lugo, and that’s not a hard act on which to improve.

As opposed to the Cameron and Beltre signings—which were designed to increase the Red Sox’ run prevention—the Scutaro acquisition was primarily considered an offensive upgrade.

So how has Scutaro fared so far in his intra-divisional shift?

Entering play today with a .946 fielding percentage and three errors, Scutaro definitely needs to step it up defensively.

That said, Scutaro has already produced $1 million in sabermetric value for the struggling Sox.

Offensively, Scutaro has been one of the few bright spots in an essentially awful, scuffling Boston lineup.

Through Monday’s loss to the Tampa Bay Rays, Scutaro is batting .289 with one home run, three RBI, and a 762 OPS.

Scutaro has simply picked up where he left off at the end of a career 2009 season.

Worth the money so far?

At only $6 million a year?

Thievishly, YES.

13. Mike Gonzalez of the Baltimore Orioles

Former Team: Atlanta Braves
Contract Terms: $12 Million / 2 Years
Date Signed: 12/18/2009
2010 Salary: $6 Million

Mike Gonzalez has a 2.67 career ERA in 282.2 Major League innings. Most impressively, Gonzalez owns a 10.60 K/9 ratio.

For the 2009 Atlanta Braves, Gonzalez put together a career year in which he dealt 74.1 innings, posted a 2.42 ERA, managed a 1.20 WHIP, and left runners on base 78.9% of the time.

The 31-year-old looked like a decent fit for the should-be-rebuilding-but-aren’t-entirely Baltimore Orioles.

The downside to signing Gonzalez seemed only that the Orioles would sacrifice draft picks—not a minor detail by any means.

That was before Gonzalez toed the Camden rubber.

While paid $6 million for 2010, Gonzalez has already cost the Orioles $300,000 in sabermetric value, laid an 18.00 ERA at the feet of two blown saves, and landed himself on the 15-day disabled list with right-shoulder woes.

Worth the money so far?

That’s funny. NO.

12. Hideki Matsui of the Los Angeles Angels of Anaheim

Former Team: New York Yankees
Contract Terms: $6 Million / 1 Year
Date Signed: 12/16/2009
2010 Salary: $6 Million

As clutch as he’s always been, Hideki Matsui epitomizes the term overrated.

Among such Major League sluggers, Matsui is one of the few to consistently and drastically under-perform his contracts.

Considering Matsui’s last four years with the New York Yankees—during which he was paid $52 million for only $28.8 million in value—one can understand why the getting-younger Yankees were recalcitrant to re-sign the 35-year-old Japanese import.

Still, for $6 million and a one-year commitment, the Los Angeles Angels may have gotten the steal of the offseason.

If Matsui can produce something close to the 28 homers and 876 OPS he posted for the 2009 Yankees—a team for which he earned World Series MVP honors—he will greatly outperform his new contract with the Halos.

So how has Godzilla made out thus far in his transcontinental move?

Three home runs, five doubles, six walks, eight RBI, a .327 average and a 1.012 OPS. These are the dominant numbers Matsui has brought to the Halo lineup.

Off to a torrid start, Matsui has already produced $2.1 million in value for the team with the longest name in Major League Baseball.

It's Orange County. The rich get richer.

Worth the money so far?

Incontestably, YES.

11. Billy Wagner of the Atlanta Braves

Former Team: Boston Red Sox
Contract Terms: $7 Million / 1 Year
Date Signed: 12/2/2009
2010 Salary: $6.75 Million

Six-time All-Star and Type-A free-agent Billy Wagner afforded the Boston Red Sox a windfall of replacement first-round picks when he agreed to a deal with the Atlanta Braves.

Although Wagner was dominant in Boston, Jonathan Papelbon’s presence precluded a long-term stay in Beantown.

Needing a Billy Wagner’s experience and effectiveness to lead the likes of surging youngster Tommy Hanson, the Braves probably did well in signing the 38-year-old Virginian southpaw.

Still, Wagner is 38.

Although he has averaged $5.6 million in sabermetric value over the past seven seasons, Wagner—like many closers—has never performed to the level of his salaries in that same span.

$6.75 million is probably a much more appropriate figure for Wagner’s services.

So, how has Wagner performed so far on his childhood dream team?

Over five innings work, Wagner has posted a 3.60 ERA and unfortunately blown as many saves as he’s recorded. Wagner is 1-1 in save opportunities on the young season.

In those few innings, Wagner has produced $400,000 in value for his new team.

More encouraging than that blown save is discouraging, Wagner has been hitting 101 mph on the radar gun and has allowed only three hits while striking out 10.

Worth the money so far?

Unequivocally, YES.

10. Jose Valverde of the Detroit Tigers

Former Team: Houston Astros
Contract Terms: $14 Million / 2 Years
Date Signed: 1/15/2010
2010 Salary: $7 Million

After seven Major League seasons in which he averaged $3.4 million in sabermetric value while notching 169 saves and posting a 3.16 ERA, Jose Valverde got paid—overpaid in fact—this past offseason.

While clearly productive, Valverde is clearly not worth the $7 million annual salary for which he signed with the Detroit Tigers.

Still, on a team desperate to return to its World Series worthy production, an overpaid closer is better than none at all.

So, is Valverde living up to these nearly excessive expectations?

After blowing a save to start the season, Valverde has rebounded nicely to shut the door during his last three save opportunities.

En route to those ninth-inning walk offs of his own, Valverde has posted an impressive 1.80 ERA and a 1.20 WHIP.

Still, as is the danger with closers, Valverde has been a financial liability in terms of sabermetric value. The Tigers are currently $400,000 in the hole on his new contract.

If Valverde continues to go 3-4 as a closer, Detroit will have found a new way to bleed greenbacks.

Worth the money so far?

Unfortunately, NO.

9. Johnny Damon of the Detroit Tigers

Former Team: New York Yankees
Contract Terms: $8 Million / 1 Year
Date Signed: 2/22/2010
2010 Salary: $8 Million

Why did it take until late February for Johnny Damon to find a new home? How did he nearly end up sitting out the early 2010 season along with Jermaine Dye?

Johnny Damon averaged just $11.7 million in sabermetric value during the last six years. During that same period, Damon was paid substantially more for his services.

Remember when Theo Epstein declined to give Damon that extra $12 million in salary he tugged from Brian Cashman? The numbers have backed up that decision.

Now ignored by the Yankees—who have apparently learned their lesson—Damon finds himself playing for the seemingly far-more-desperate Detroit Tigers.

Still, contracted at only $8 million for one year, Damon would have to experience a significant performance drop off for this deal to turn sour on Detroit.

So how has Damon fared thus far in Motor City?

Entering play Tuesday, Damon has hit the ball for a .279 average and a 729 OPS, both statistics slightly below his career marks. He has also contributed at least more than $500,000 in sabermetric value to his new club.

So far so good, but it's a long season.

Worth the money so far?

At one year? YES.

8. Mike Cameron of the Boston Red Sox

Former Team: Milwaukee Brewers
Contract Terms: $15.5 Million / 2 Years
Date Signed: 12/16/2009
2010 Salary: $8.25 Million (including signing bonus)

Another cog in the Boston run-prevention wheel, Mike Cameron signed the same day as John Lackey.

Anticipating a flush 2010 free-agent outfielder market, Theo Epstein inked the three-time Gold Glover to a two-year contract designed to allow maximum positional flexibility.

Right fielder J.D. Drew’s contract expires after 2011, left fielder Jacoby Ellsbury could be the centerpiece of a trade to acquire a major slugger, and Epstein would clearly want to maintain the ability to sign Carl Crawford or Jayson Werth after the 2010 season.

That said, Mike Cameron is no temporary band-aid. Over the past four seasons, Cameron has averaged an underrated $15.8 million in sabermetric value.

Should he again approach that kind of production, Cameron would far outstrip his Boston salary, including the signing bonus.

So how has he fared so far in the Fenway hotbox?

As a career .250 hitter, Cameron was never expected to produce much offensively, and he hasn’t disappointed. Entering play Tuesday, Cameron is hitting at a meager .233 clip.

Remarkably, Cameron has been worth $500,000 in sabermetric value so far in 2010.

Defensively, Cameron hasn’t exactly disappointed either, but he does have one error in 28 opportunities.

That in itself wouldn’t be such a big deal if it weren’t for the fact that that error came Saturday night on what should have been an inning-ending, routine fly ball.

Had Cameron secured the ball—which bounced off his glove—Clay Buchholz would have escaped the first inning unscathed. As it was, Cameron’s muff led to four Tampa Bay runs.

The Red Sox lost 6-5.

Worth the money so far?

A squeaky YES.

7. Bobby Abreu of the Los Angeles Angels of Anaheim

Former Team: Los Angeles Angels of Anaheim
Contract Terms: $19 Million / 2 Years
Date Signed: 11/5/2009
2010 Salary: $9 Million

Although Bobby Abreu resigned with the Angels, his $11.3 million value for the 2009 Halos definitely attracted attention from other teams.

Two years ago, when the Yankees failed to resign Abreu, many wondered why the team wouldn’t want to retain a career .299 hitter who averages close to 30 stolen bases, 100 RBIs, and 20 home runs a season.

The answer probably rested in Abreu’s considerably poor defensive prowess as measured by Ultimate Zone Rating, a sabermetric value.

In fact, throughout the life of his Yankee contract, Abreu’s value never matched his salary. He under performed from start to finish.

Still, able to acquire and keep Abreu at a more reasonable rate, the Angels were smart to do so.

So how has Abreu fared so far?

Hiding beneath Abreu's two home runs and eight RBI is a timid little .214 batting average and OPS more than 250 points shy of his career line.

With Bobby Abreu what's more frightening than those numbers is the fact that he's not walking. Abreu has drawn free passes at a paltry rate of only 3.7% this season. That's a horrifying statistic if you're an Angel fan, for Abreu owns a career 14.8 walking percentage.

Worth the money so far?

With a grin, NO.

6. Adrian Beltre of the Boston Red Sox

Former Team: Seattle Mariners
Contract Terms: $10 Million / 1 Year
Date Signed: 1/5/2010
2010 Salary: $9 Million

When his signing was first announced, 30-year-old Adrian Beltre may have seemed an odd match for the Boston Red Sox, who already possessed a Gold-Glove-winning third baseman in fan-favorite Mike Lowell.

Yet, Lowell’s defense had effectively escaped him completely following a hip injury that plagued him throughout 2009.

Sorely missing Lowell’s glove and wanting to maintain future roster flexibility, Theo Epstein and company elected to sign the two-time Gold-Glove winner Beltre to a club-friendly, one-year deal including an option for a second season.

Should the Red Sox be able to acquire San Diego’s highly coveted Adrian Gonzalez, or another big-swinging corner infielder, Beltre’s short-term deal allots them the flexibility to create the necessary roster space in 2011.

In the immediate future, Beltre should provide the Red Sox with increased run prevention—an area on which Epstein chose to focus in the face of a weak power-hitting free-agent market.

Has Beltre provided this defensive upgrade?

Despite one error in 32 opportunities, Beltre’s glove has proved exactly what the Red Sox needed at the hot corner.

What the Red Sox hadn’t bargained for was Beltre’s early offensive surge. Even as the likes of David Ortiz and J.D. Drew drag down a pathetic Boston offense, Beltre is batting .295 with six RBI.

Worth the money so far?

In all senses, YES.

5. Chone Figgins of the Seattle Mariners

Former Team: Los Angeles Angels of Anaheim
Contract Terms: $36 Million / 4 Years
Date Signed: 12/8/2009
2010 Salary: $10 Million (including signing bonus)

Chone Figgins switching sides and moving within the division to the rival Seattle Mariners didn’t sit too well in the stomachs of most Los Angeles Angels fans.

Figgins was the leadoff man in a run-manufacturing Halo lineup. Running up a 789 OPS and swiping 42 bags for the 2009 Angels, Figgins was and had been the team’s catalyst since 2004.

Under the astute leadership of general manager Jack Zduriencik, the aggressively retooling Seattle Mariners swiftly seized the speedy Figgins when he hit the free-agent market in early December.

The move probably felt to the Halo Nation like the Yankees’ signing of Johnny Damon felt to the Red Sox Nation. That’s not a good feeling.

For another week at least those diehard Angel groupies still had John Lackey, but he would shortly depart for those “rival” Boston Red Sox.

Somehow, the Angels’ front office considered $9 million a year too much for a .291 hitter with above average, hot-corner defense and about 40 swipes a year.

The Mariners probably actually looked at the numbers. In six full seasons at the Show, the 2009 All-Star has averaged $11.7 million in sabermetric value.

Since speed never slumps, the 32-year-old Figgins should definitely be expected to outperform his contract in Seattle.

So how has Figgins done so far?

Figgins may be batting an anemic .238, but he's stolen four bags and driven in four runs, so he's not as awful as he could be.

Still, that average needs to approach .300 if he's going to be worth the dough long term.

In the short term, the former Angels' stolen-base threat has already achieved a sabermetric value of $600,000, well on his way to earning his 2010 salary.

Worth the money so far?

By a hair, YES.

4. Ben Sheets of the Oakland Athletics

Former Team: Milwaukee Brewers
Contract Terms: $10 Million / 1 Year
Date Signed: 1/26/2010
2010 Salary: $10 Million

Dominant pitchers don’t lose everything just because they need a year off. That’s the gamble the Oakland Athletics took when they inked Ben Sheets to a one-year deal this January.

Honestly, anybody who’s played MLB The Show on PS2 or PS3 knows that this is the first deal you make when you start a new franchise. You sign free-agent Ben Sheets.

You sign Ben Sheets and hope he regains his dominant, ace-like form. When he does, you can deal him for prospects or keep him at a discount and let him sign elsewhere for 2011.

Knowing Billy Beane, Ben Sheets is not long for Oakland. If he looks to achieve Type-A free-agent status, Sheets could make it through September without being dealt, but if he’s hovering on the border between Type-A and Type-B, Sheets will finish 2010 with a true contender.

According to Fangraphs, Sheets has averaged $10.2 million in sabermetric value during his nine-year career, including a 2009 in which Sheets pitched not a single inning.

If we exclude 2009, Sheets has been worth closer to $11.5 million per season he’s pitched. $10 million for one year seems like a pretty good gamble.

So, how has Sheets looked so far?

In three early starts and 17 innings, Sheets is 1-0 with a 2.65 ERA and an elevated 1.71 WHIP. In terms of value, Sheets has only produced $400,000 for the other Bay-area team.

Assuming he makes 30 starts for the 2010 Athletics, Sheets will only reach $4 million in sabermetric value and will represent a $6 million loss.

At the same time, if Sheets continues to pitch like he did in his last outing—one in which the former Brewer carved up the Baltimore Orioles through six shutout frames—he won’t leave the Athletics in the red.

Rather, Sheets will be personally restocking the Athletics’ farm system

That said, Sheets still has to prove himself over the long haul.

Worth the money so far?

A lukewarm NO.

3. Jason Bay of the New York Mets

Former Team: Boston Red Sox
Contract Terms: $66 Million / 4 Years
Date Signed: 1/5/2010
2010 Salary: $15 Million (including signing bonus)

Jason Bay’s departure from Boston was pretty messy as these things go. Apparently too uncertain of Bay’s troublesome knees to offer a fifth year, the Red Sox opted for short-term fixes rather than overpaying for the second-best outfielder on the market.

Given the deluge of qualified outfielders hitting the market at the close of the 2010 season, the Red Sox may have been wise in their restraint. The New York Mets, however, apparently had no fear of impending injuries from the slugging All-Star.

Indeed, the Mets are a team of injured former All-Stars.

Going off both the traditional and sabermetric statistics, the Mets definitely overpaid for Bay. Excluding a 2003 cup of coffee, Bay has averaged just over $13 million in sabermetric value during his six full seasons as a big leaguer.

The Mets paid $16.5 million a year. That’s $3.5 million more than Bay can be reasonably expected to produce.

Yet, for the other New York team, hope springs eternal. Perhaps Bay will surprise us all with some extended spring in his troublesome knees.

So how has the former Fenway favorite been working out in the Big Apple?

Theo Epstein was right to let Bay go. At least, that's what Bay's .245 average and 677 OPS would indicate. For a power-hitting left fielder, Bay would do well to start hitting home runs.

Jason Varitek has three. Dustin Pedroia has five. Jason Bay has zero.

Sabermetrically, Bay has already cost his new franchise about $300,000 in value.

Going two for three with a RBI against the Cubbies Monday night won't cut it either. Bay needs to start slugging, or he'll be even more unwelcome in the Big Apple as a Met than he was as a Red Sox.

Worth the money so far?

Go Metties, but NO.

2. Matt Holliday of the St. Louis Cardinals

Former Team: St. Louis Cardinals
Contract Terms: $120 Million / 7 Years
Date Signed: 1/10/2010
2010 Salary: $17 Million

Apparently outbidding themselves for Matt Holliday’s services, the St. Louis Cardinals clearly went out of their way to sign the left fielder to both protect Albert Pujols’ bat and demonstrate to the soon-to-be free-agent slugger that they are financially committed to winning.

Holliday would have been worth it to any of his off-season suitors, but his value to the Cardinals can be measured with as many intangibles as tangibles.

That said, considering Holliday’s tangible, statistical value should have been more than enough for any club pursuing him.

What should the St. Louis franchise expect from their new big bat?

In six Major League seasons Matt Holliday has averaged just over $20.15 million in sabermetric value per season. That includes a severely shortened 2004 rookie year.

Realistically, the Cardinals should expect much more.

So far, to what extent has Holliday lived up to his contract?

Entering play Tuesday, Holliday has sprung to life in his first full year with the Cardinals, hitting .311 with a 945 OPS on three homers and six RBIs.

Errorless in 98 innings, Holliday has already paid back $1.9 million of his $17 million salary.

Worth the money so far?

Without a doubt, YES.

1. John Lackey of the Boston Red Sox

Former Team: Los Angeles Angels of Anaheim
Contract Terms: $82.5 Million / 5 Years
Date Signed: 12/16/2009
2010 Salary: $21.5 million (including signing bonus)

Somewhat overshadowed by the Matt Holliday-Jason Bay sweepstakes, the signing of John Lackey to the Boston Red Sox set ripples of discontent through the Halo Nation.

Angels fans frequented sports talk radio shows with comments downplaying Lackey’s importance to their staff and deriding the hated Red Sox’ overspending on the 31-year-old Bulldog Lackey.

Considering Lackey has averaged $15.65 million in sabermetric dollars during his Major League career, those Angel fans may be right.

So how has Big John performed thus far in Beantown?

Entering play Monday morning for his Patriots Day start, Lackey had been fairly dominant. Lackey had gone 12.2 innings over two starts and was 1-0 with a 1.42 ERA.

Still he had only provided $800,000 in sabermetric value for his new club. Averaged out over the course of the season, Lackey would be worth about $12 million, or $9.5 million short of his first-year’s salary.

Monday’s start made things much worse. Over just 3.1 innings over work, Lackey allowed eight earned runs on nine hits. That ace-like 1.42 ERA is now 5.63.

Worth the money so far?

Umm, NO.