MLB: 10 Players Worth More Than Their 'Market Value'

Does anyone know how the stock market works? Yeah, me neither. So hopefully my estimation of "market value" is okay for you Wall Street junkies out there. 

Everyone knows there are a multitude of overpaid players in professional sports, but baseball is just out of control. For heaven's sake, A-Rod became a quarter-billionaire with one swipe of a pen. 

Then, there's the other side of the coin. The underrated, underpaid, under appreciated players in baseball who are paid far less than they should be. The players whose worth far exceed whatever their "market value" is set at.

Without further ado, here are ten of those guys. 

1. Gio Gonzalez, Washington Nationals

That team in D.C. sure is looking good for 2012, aren't they? The Nationals traded a handful of good prospects to nab Gonzalez from the A's earlier this winter, and they definitely scored. 

Gonzalez is under team control at a $420,000 through 2015 despite being the ace of the A's last year. He was an uber prospect for years before finally breaking through in Oakland. Gonzalez was eighth in the American League in strikeout ratio and notched 16 wins despite an absolutely anemic offense supporting him.

In today's market, Gonzalez is worth at least $8-10 million per year. And if he continues to pitch like he did last year, he will get at least that much when it's time for a new contract. 

2. Gaby Sanchez, Miami Marlins

Talk about a bargain. To any Marlins fans who are upset that Albert Pujols signed in Los Angeles, don't forget that you already have a pretty solid first baseman.

Gaby Sanchez is perennially underrated and brings a big bat to the table. Also, he's paid like a peasant compared to other good first basemen. He only made $430,000 last year, whereas guys who are less valuable than him at the same position are raking in $7 million a season.

I have a feeling that in the next couple years, Sanchez is going to put up some huge numbers and make everyone in Florida forget about that rich guy on the Angels' team.

3. Pablo Sandoval, San Francisco Giants

On the first slide, Kung-Fu Panda is laying down a perfect bunt while blowing a bubble. Do you know how many people can't blow a bubble?! That is worth an extra $1 million alone.

In all seriousness, Sandoval has had his issues. Weight gain, plummeting numbers and injury after injury has really made Sandoval's stock drop. But we all saw what the guy was capable of last year when he exploded and became the Giants' most dependable bat.

Last season, he was only paid a half-million dollars, despite producing at a .315/23/70 clip in just under three-quarters of a full season. It's safe to say that when he signs a free-agent contract after 2012, he'll be making somewhere north of $5 million a year.

4. Jose Valverde, Detroit Tigers

This one is a bit nit-picky. But I'm also still a little upset that Valverde hardly got any attention in 2011, despite a perfect season. He didn't blow a single save in the regular season. That's an incredible feat.

The Tigers' fiery closer makes about $7 million per year, just less than Heath Bell is slotted to make in Miami next year. That's about half of what Mariano Rivera makes for the Yankees. I know Valverde isn't a baseball legend like Mo, but he's much better than half as good. 

If you ask me, I feel comfortable assuming that Valverde deserves anywhere between $10-12 million per season. If he breaks Eric Gagne's consecutive saves streak next season, 2013 could be a very large payday for Valverde.

5. Asdrubal Cabrera, Cleveland Indians

This is straight up highway robbery in Cleveland. A complete travesty. But a damn good deal. Sure, Cabrera finally "broke out" in 2011, but the guy has been one of the most complete shortstops when healthy for a few years.

Yet, he's only being paid a hair over $2 million for his services. Derek Jeter flosses his teeth with $2 million, in case you were wondering. The market value for slick-fielding shortstops who hit for average and power should hover around $8 million a year.

I don't know if Cabrera is worth that much yet, but he's got to be close.

If you take into account that he's just a step behind guys like Troy Tulowtizki—who is making around $15 million a year in Colorado—you can make the case that Cabrera is worth a cool $10 million a year. Time will tell if he gets a deal that he deserves.

6. Michael Pineda, Seattle Mariners

Well, he's only been in the bigs for one year, so that really explains the bargain here. But Pineda is a mini-me of teammate Felix Hernandez, one of the most ridiculously nasty pitchers in all of baseball.

I think if you give Pineda another season or two, he could be the next young gun contending for all the major awards. Right now, he's making $400,000 a year on a minimum salary. I'm sure Seattle realizes how expensive he will be to retain eventually, so they will want to get as much production out of him as possible while he's on the cheap.

But for now, Pineda is pitching at under half a million dollars, despite his filthy arsenal being worth at least $6 million in today's pitching market. 

7. Jay Bruce and Joey Votto, Cincinnati Reds

Double trouble! The Reds' two big lefty sluggers definitely don't have to worry about putting dinner on the table every night. But since this is a measure of value versus current salary, these two guys are certainly getting gypped. 

Bruce makes about $8.5 million a year and Votto is right around $13 million. But for a player (Votto) who averages .313/23/80 and another (Bruce) who averages .256/25/69 and completely buoy a potent Cincy offense, that's just not enough. They aren't on the Prince Fielder/Albert Pujols/Matt Kemp level just yet, but they are pretty close to being that good.

If I were in charge of handing out contracts, Bruce would be looking at about $12 million a year, and Votto would be pushing $18 million.

8. Jair Jurrjens, Atlanta Braves

I am the biggest Jurrjens fan this side of Georgia. So it was almost a given that I would put him on a list that had anything to do about being under-appreciated. But a deeper dive into how much he is paid for how much damage he does with that right arm just validated my point.

Jurrjens made $3.25 million last year despite being one of the most dominant starters in the game when he's healthy. His numbers don't necessarily jump out at you—he's only 50-33 in his short career and had a couple injuries—but watch him throw a game and tell me you wouldn't want him slotting in at the top of your rotation. 

His career 1.28 WHIP and 3.40 ERA speak for themselves—Jurrjens is definitely worth more than a few measly million dollars. At this very moment, I'd give him $7.5 million. And after a few more solid years, let's just toss double digits his way. Someday, soon enough, he'll earn it.

9. Carlos Santana, Cleveland Indians

Here's another young player who only makes under $500,000 because of his age. Santana is going to be a star, whether it's behind the plate, playing first base or just launching balls into the upper deck from DH. 

In 2011, Santana hit .239 with 27 home runs and 79 RBI. He's a switch hitter who has unlimited potential and tons of power. He's going to bring that average up eventually too, and a big contract will come with it. For a young guy that can play catcher and wield the wood, you're looking at a solid $7-10 million per year at the high end. 

I think right now, Santana is worth at least $5 million and could push that higher echelon in the next few years.

10. Matt Cain, San Francisco Giants

Oh, the man who is twice Tim Lincecum's size, but shudders in the shadows of the Giants' ace. I'll be honest—Cain is rich as all get out. Most professional athletes are. But Cain is already making just over $5 million, as opposed to most guys on the list who aren't even sniffing a million.

So why is Cain below market value? Well, basically, he's a stud.

His career win-loss record is four games under .500, but that's almost entirely due to not having any run support for most of his seasons in San Francisco. The type of pitcher that Cain is and the important numbers he puts up (ERA and WHIP are much more valuable than wins) earn him at least $10 million a year. 

I can tell you this: there are some richer teams that will jump at the chance to pay him at least that much when he becomes a free agent. If the Giants' GM Brian Sabean is going to be cheap with Cain, he's going to lose one of the better pitchers in the league eventually.