MLB Free Agents 2014: Finding the Best Value at Each Position

There is no shortage of star power in this year's MLB free-agent class.

Max Scherzer, Jon Lester and James Shields front an impressive class of starting pitchers, while Nelson Cruz, Victor Martinez, Hanley Ramirez and Pablo Sandoval make up the cream of the position player crop.

However, the more intriguing side of free agency is often the under-the-radar bargain signings. Those signings don't dominate the headlines, but they can wind up being what pushes a team over the top.

Casey McGehee, Kurt Suzuki, Chris Young, Aaron Harang, Pat Neshek and Joe Beimel were among the notable unexpected contributors who signed for peanuts last offseason, and teams will look for similar deals in this year's free-agent class.

With that in mind, what follows is a look at the one guy from each position that could wind up being the best value this offseason, as well as a look back at the top bargain from a year ago.

Catcher: Nick Hundley

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2014 Stats

83 G, .243/.273/.358, 7 2B, 6 HR, 22 RBI, 18 R, 0.1 WAR

Overview

The catching market is as thin as ever this offseason, as Russell Martin looks like the only slam-dunk option for teams looking for an everyday starter.

One guy that could get a look from the teams that miss out on Martin is Nick Hundley, who split last season between San Diego and Baltimore and ended up being a league-average option both offensively and defensively.

The 31-year-old is not far removed from a 19-double, 13-home run season over 373 at-bats in 2013, so there is some pop in his bat.

If nothing else, he will provide a team with a steady backup capable of stepping into a bigger role should injury strike, as he did for the Orioles with Matt Wieters sidelined.

Best Value of 2014

Player: Kurt Suzuki, Minnesota Twins
Contract: one year, $2.75 million
Stats: 131 G, .288/.345/.383, 34 2B, 3 HR, 61 RBI, 37 R, 2.2 WAR

First Baseman: Mike Carp

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2014 Stats

59 G, .175/.289/.230, 5 2B, 0 HR, 13 RBI, 11 R, -0.8 WAR

Overview

Adam LaRoche figures to be the most sought-after option among the first base crop this coming offseason, and the Milwaukee Brewers have to be viewed as the front-runners to sign him at this point with a glaring need at the position.

As for teams looking to make a bargain play, similar to what the Brewers did last year when they used a platoon of Mark Reynolds and Lyle Overbay, one intriguing option could be Mike Carp.

Carp struggled mightily in limited action this past year and was sidelined for a stretch with a fractured foot, but he was one of the better part-time players in baseball during the Red Sox's run to the World Series in 2013.

Splitting time between the corner outfield spots and first base, he hit .296/.362/.523 with 18 doubles, nine home runs and 43 RBI in just 216 at-bats. It could be worth taking a risk on him with a one-year deal to see if he can recapture that form.

Best Value of 2014

Player: Justin Morneau, Colorado Rockies
Contract: two years, $12.5 million
Stats: 135 G, .319/.364/.496, 32 2B, 17 HR, 82 RBI, 62 R, 3.2 WAR

Second Baseman: Rickie Weeks

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2014 Stats

121 G, .274/.357/.452, 19 2B, 8 HR, 29 RBI, 36 R, 0.2 WAR

Overview

This year's second base market is mostly made up of shortstops who may have to settle for sliding over to the other side of the keystone, including Asdrubal Cabrera, Jed Lowrie and Stephen Drew.

There is at least one natural second baseman expected to be available in Rickie Weeks, as his $11.5 million option for the 2015 season will almost certainly be declined.

From 2007-12, Weeks was one of the best offensive players at the position, averaging a .788 OPS with 18 home runs and 50 RBI. His fall-off was a steep one from there, though, as 2013 was a disaster.

He hit just .209/.306/.357, missed time to injury down the stretch and wound up losing his starting job to up-and-comer Scooter Gennett in the process.

Weeks had an .865 OPS with 18 extra-base hits in 133 at-bats against left-handed pitching last year, so at the very least he makes for an attractive platoon option and bench off the bat for a contender.

Best Value of 2014

Player: Emilio Bonifacio, Chicago Cubs
Contract: one year, $2.5 million
Stats: 110 G, .259/.305/.345, 17 2B, 3 HR, 24 RBI, 47 R, 26 SB, 1.0 WAR

Third Baseman: Chase Headley

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2014 Stats

135 G, .243/.328/.372, 20 2B, 13 HR, 49 RBI, 55 R, 3.5 WAR

Overview

Pablo Sandoval is the top option on the market at the hot corner, and—depending on his willingness to shift over there—Hanley Ramirez could be an attractive target as well, but in terms of best value it has to be Chase Headley.

Headley broke out in a big way when he posted a .978 OPS with 15 doubles, 18 home runs and 64 RBI after the All-Star break in 2012.

If they had it to do all over again, the Padres no doubt would have pulled the trigger on trading him that following offseason, as he crashed back to earth in 2013.

After countless rumors, he was finally traded to the Yankees at the deadline last year, and he quietly turned things around with a .262/.371/.398 line and 14 extra-base hits in 191 at-bats in pinstripes.

Even if his offense is just average, he's one of the best defenders at the position, leading all third basemen with a 28.0 UZR/150 and ranking third in 13 Defensive Runs Saved, according to FanGraphs.

Best Value of 2014

Player: Casey McGehee, Miami Marlins
Contract: one year, $1.55 million
Stats: 160 G, .287/.355/.357, 29 2B, 4 HR, 76 RBI, 56 R, 1.1 WAR

Shortstop: Jed Lowrie

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2014 Stats

136 G, .249/.321/.355, 29 2B, 6 HR, 50 RBI, 59 R, 0.8 WAR

Overview

This year's shortstop market will be fronted by Hanley Ramirez, but with questions about his health and defense, teams may actually prefer secondary options like Jed Lowrie or Asdrubal Cabrera.

Cabrera is coming off a better season and is two years younger, so he will probably wind up signing for more money. As far as the best value, though, that could very well wind up being Lowrie if he can return to his 2013 form.

Lowrie posted a .791 OPS with 45 doubles and 15 home runs for a 2.3 WAR in his first year in Oakland, but he saw those numbers drop across the board this past season.

He actually improved his line-drive rate (23.4 percent to 24.4 percent) and suffered some bad luck with his home run per fly ball rate which plummeted to 3.2 percent, via FanGraphs, so there is reason to think at least some sort of a rebound is coming in 2014.

The biggest question is whether he remains at shortstop or shifts over to second base to open up the market of teams vying for his services.

Best Value of 2014

Player: Jhonny Peralta, St. Louis Cardinals
Contract: four years, $53 million
Stats: 157 G, .263/.336/.443, 38 2B, 21 HR, 75 RBI, 61 R, 5.8 WAR

Left Fielder: Josh Willingham

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2014 Stats

92 G, .215/.346/.397, 10 2B, 14 HR, 40 RBI, 48 R, 1.0 WAR

Overview

Josh Willingham was a stud back in 2011 when he hit .260/.366/.524 with 35 home runs and 110 RBI during his first season with the Twins, taking home Silver Slugger honors in the process.

Those numbers have fallen off to .211/.344/.380 over the past two seasons, as he has averaged 14 home runs and 44 RBI over 343 at-bats.

Injuries have played a part in that, and expecting the 35-year-old to give you 500 at-bats at this point in his career could be asking to much.

However, he does provide right-handed power hitting and plus on-base skills, two things that are in rare supply around the league these days.

He got a three-year, $21 million deal last time he hit free agency and will come significantly cheaper this time around. There could be some value here on a one-year deal for a team in need of some pop.

Best Value of 2014

Player: Chris Coghlan, Chicago Cubs
Contract: one year, $525,000
Stats: 125 G, .283/.352/.452, 28 2B, 9 HR, 41 RBI, 50 R, 0.2 WAR

Center Fielder: Emilio Bonifacio

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2014 Stats

110 G, .259/.305/.345, 17 2B, 3 HR, 24 RBI, 47 R, 26 SB, 1.0 WAR

Overview

The Cubs snatched up Emilio Bonifacio last February after he was designated for assignment by the Royals, and he started off the season on fire.

He hit .337 with seven doubles and 10 stolen bases over the first month of the season, splitting time between second base and center field and giving the Cubs a nice boost atop the lineup.

His production fell off a bit from there, and he missed 33 games to a strained oblique in June, but there were still a number of teams interested in his services at the deadline before he was eventually shipped to the Braves.

He's best suited as a utility guy off the bench, but he also might be the best center field option outside of Colby Rasmus on the market this winter. He could potentially land a multi-year deal, but on his versatility and speed tools alone, he should provide some solid value.

Best Value of 2014

Player: Rajai Davis, Detroit Tigers
Contract: two years, $10 million
Stats: 134 G, .282/.320/.401, 27 2B, 8 HR, 51 RBI, 64 R, 36 SB, 1.2 WAR

Right Fielder: Michael Cuddyer

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2014 Stats

49 G, .332/.376/.579, 15 2B, 10 HR, 31 RBI, 32 R, 1.2 WAR

Overview

After spending the first 11 seasons of his career with the Twins, Michael Cuddyer signed a three-year, $31.5 million deal with the Rockies.

His first season in Colorado was sub-par, but he rebounded to win the NL batting title in 2013, hitting .331/.389/.530 with 31 doubles and 20 home runs and 84 RBI.

He played just 49 games this past season, though, as hamstring and shoulder injuries kept him on the sidelines. Those injury issues, coupled with the fact that he is entering his age-36 season, should be enough to drive his price down this offseason.

"If Cuddyer was coming off of something resembling a full season, his contract outlook would be quite different," wrote Zach Links of MLBTradeRumors. "Given his age and health issues, a one or two-year deal seems likely but another three-year deal probably isn't in the cards."

Links went on to predict a two-year, $22 million deal, and if he can stay healthy at that price, he has a great chance to be a solid value.

Best Value of 2014

Player: Marlon Byrd, Philadelphia Phillies
Contract: two years, $16 million
Stats: 154 G, .264/.312/.445, 28 2B, 25 HR, 85 RBI, 71 R, 2.6 WAR

Starting Pitcher: Justin Masterson

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2014 Stats

25 GS, 7-9, 5.88 ERA, 4.50 FIP, 1.632 WHIP, 69 BB, 116 K, 128.2 IP

Overview

The 2013 season was a coming-out party for Justin Masterson, as he went 14-10 with a 3.45 ERA, 1.202 WHIP and 195 strikeouts in 193 innings, making his first All-Star appearance in the process.

The Indians explored an extension with the right-hander but were not willing to offer him a long-term deal, and he eventually turned down a three-year, $45 million offer to instead enter a contract year.

That contract year did not go well, as he went a combined 7-9 with a 5.88 ERA and 1.632 WHIP between Cleveland and St. Louis, and he was eventually left off the Cardinals' postseason roster.

That said, a 4.50 FIP, a strong 58.2 percent ground ball rate and an overly-high 14.6 percent HR/FB ratio (via FanGraphs) all indicate that he could be in for some positive regression in 2015.

His best move might be to sign a one-year deal and try rebuild some value with another run at a contract year, and that could make him the best value on this year's starting pitching market.

Best Values of 2014

Player: Jason Hammel, Chicago Cubs
Contract: one year, $6 million
Stats: 29 GS, 10-11, 3.47 ERA, 3.92 FIP, 1.123 WHIP, 158 K, 176.1 IP

Player: Aaron Harang, Atlanta Braves
Contract: one year, $1 million
Stats: 33 GS, 12-12, 3.57 ERA, 3.57 FIP, 1.400 WHIP, 161 K, 204.1 IP

Player: Phil Hughes, Minnesota Twins
Contract: three years, $24 million
Stats: 32 GS, 16-10, 3.52 ERA, 2.65 FIP, 1.130 WHIP, 186 K, 209.2 IP

Player: Edinson Volquez, Pittsburgh Pirates
Contract: one-year, $5 million
Stats: 31 GS, 13-7, 3.04 ERA, 4.15 FIP, 1.230 WHIP, 140 K, 192.2 IP

Player: Chris Young, Seattle Mariners
Contract: one year, $1.25 million
Stats: 29 GS, 12-9, 3.65 ERA, 5.02 FIP, 1.230 WHIP, 108 K, 165.0 IP

Relief Pitcher: Mike Adams

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2014 Stats

22 G, 2-1, 6 HLD, 2.89 ERA, 1.286 WHIP, 8 BB, 21 K, 18.2 IP

Overview

Not all that long ago, Mike Adams was one of the best setup relievers in all of baseball.

From 2008-12, he made 297 appearances, posting a 1.98 ERA, 0.990 WHIP and 9.5 strikeouts per nine innings while pitching in the eighth-inning role for the Padres and Rangers.

His performance over that span was good for an 8.4 WAR, and he was a hot commodity when he hit the free-agent market prior to the 2013 season. He eventually inked a two-year, $12 million deal with the Phillies.

Tommy John surgery significantly cut into his time on the field over those two years, though, and he pitched a total of just 43.2 innings over 50 appearances during his time with the Phillies.

His $6 million team option for 2015 will likely be declined, and he may have to settle for an incentive-laden deal wherever he winds up signing. However, it he's healthy, he could wind up being this year's Pat Neshek.

Best Values of 2014

Player: Joe Beimel, Seattle Mariners
Contract: one year, $850,000
Stats: 56 G, 3-1, 10 HLD, 2.20 ERA, 1.178 WHIP, 14 BB, 25 K, 45.0 IP

Player: LaTroy Hawkins, Colorado Rockies
Contract: one year, $2.5 million
Stats: 57 G, 4-3, 23 SV, 3.31 ERA, 1.196 WHIP, 13 BB, 32 K, 54.1 IP

Player: Pat Neshek, St. Louis Cardinals
Contract: one year, $1 million
Stats: 71 G, 7-2, 25 HLD, 1.87 ERA, 0.787 WHIP, 9 BB, 68 K, 67.1 IP

All standard and advanced stats (including WAR) courtesy of Baseball-Reference, unless otherwise noted, and accurate through Monday, Oct. 27.