A Few More Signings

The Phillies signed Placido Polanco to a three-year $18 million deal and will switch him from second to third.  I don’t like this deal at all for the Phils.  I don’t have any doubts that Polanco can handle the hot corner, but he’s getting at least one year and $6 milli0n more than he’s worth, particularly in this market.

After fine years in 2005 and 2007, Polanco’s OPS has dropped each of the last two seasons, down to .727 in 2009.  He’s 34 next season, so the odds of him having another full season with an OPS over .750, let alone three, are not particularly good.

By way of comparison, the Red Sox apparently just signed Marco Scutaro to a two year deal for a guaranteed $12.5 million (but three years at $14 million at Scutaro’s option).  This deal seems much more reasonable to me.  Like Polanco, Scutaro will also be 34 next year.

Scutaro at SS plays a more important defensive position than Polanco will in 2010, and Scutaro is coming off a much better season.  On the other hand, Polanco has had a much better career to date than Scutaro.  All in all, I’d rank the two about even going forward, which means the Phillies overpaid Polanco.

Of course, the Red Sox have to give up a late first round pick to the Blue Jays (unless the Sox sign a better free agent offered arbitration later this off-season and give that pick to another team), and that affected Scutaro’s signing price.  However, I still don’t think the Phillies should have guaranteed any more money to Polanco than Scutaro got.

Also reported is that the Mariners are closing in on a deal with Chone Figgins on a four year deal.  According to mlbtraderumors.com, Figgins wants $36 million and the Mariners want to pay him $32 million (or $27 million over only three years).

$9 million a year for four years for possibly the best lead-off hitter in baseball who plays great D at thirdbase is not unreasonable, even if Figgins will be age 32 through 35 over the life of the contract.  Figgins has had onbase percentages of .393, .367 and .395 the last three seasons, which is terrific, and he still runs well.

If Figgins signs a contract for around $36 million, it’s another sign that free agent prices are down again this year, and that it’s a better year than most for teams to consider giving free agents (at least the younger ones), an extra year on their deals.  If Figgins can maintain most of his current value by year four of the contract, he’ll be a bargain in 2013 at $9 million.