Top 50 MLB Free Agents: Which Ones Will Be Overpaid and Which Will Be Bargains?

The 2011 World Series will be over in a little more than a week, after which all eyes will be on what is shaping up to be one wild free-agency period this winter.

For those of you in the same boat as myself—meaning you're a fan of one of the 28 teams not playing baseball right now—that's the only thing we care about at this point.

There are plenty of big names looking for new, bigger contracts this winter. Some will be given the world while others will be left contemplating getting a second job. Then, of course, there are players in the middle who stand to get exactly the contract in which they deserve.

Which free agents will be bargains, which will be overpaid and which will be just right?

50. Jon Garland, 32, SP

Underpaid, Overpaid or Just Right? Underpaid

An injury ended Jon Garland's season after only nine starts, which I assume will lead the Los Angeles Dodgers to decline his $8 million option for next season.

He won't get $8 million on the open market, but he will earn every dime of what he does get—and then some. 

Garland has generally been good for 200 innings each season with an ERA in the high-3.00s or low-4.00s, though he has fared much better pitching in the National League.

Assuming he can he snagged for at or less than the $4.5 million salary he earned in 2011, a healthy Garland would make a great No. 4 starter on many ball clubs.

49. Ramon Hernandez, 36, C

Underpaid, Overpaid or Just Right? Just Right

Ramon Hernandez is coming off back-to-back solid seasons for the Cincinnati Reds, albeit in limited playing time. He hit .281 with 12 home runs in 91 games for the Reds in 2011.

Hernandez was a hot candidate for a July trade, yet the Reds chose to hold on to him to either finish the season or attempt to bring him back in 2012.

At 36 years old, he really can't be in more than a platoon role from here on out. He still has value behind the plate and as a hitter off the bench, and he sits near the top of a very weak free-agent class at the catching position.

48. Ryan Ludwick, 33, OF

Underpaid, Overpaid or Just Right? Just Right

Gone are the days of Ryan Ludwick earning nearly $7 million per season. 

After a 37-home-run season in 2008, Ludwick's power numbers have slowly dwindled down each season. He hit only 13 long balls in 2011.

Ludwick will be one of the last free agents on the market, signed by a desperate team who misses out on the more productive outfielders. He will get a small deal worth $2 or $3 million for the season—tops.

He is still young enough to recapture his form of old, but unless he gets to hit in front of or behind a guy like Albert Pujols again, it doesn't seem likely.

47. Yuniesky Betancourt, 30, SS

Underpaid, Overpaid or Just Right? Just Right

Two weeks ago, I'd of said Yuniesky Betancourt would be underpaid heading into next season. He came to Milwaukee with a bad rap as a defensive liability who couldn't take a walk for his life.

He responded with the best defensive regular season of his career (plus-0.5 dWAR), but he took only 16 walks and a late season hot streak pulled his average up to a meager .252.

Betancourt's defense became utterly embarrassing in the NLCS, however, and that's all people will remember when the free-agency bell rings this winter.

A massive paycut seems to be in order, so Yuniesky's 2012 salary should be on par with his skill level.

46. Joel Pineiro, 33, SP

Underpaid, Overpaid or Just Right? Underpaid

Joel Pineiro was so bad this season that the Los Angeles Angels elected to go with a three-man rotation down the stretch. That's not the kind of contract year players hope for.

There is no chance Pineiro comes even remotely close to the two-year, $16 million deal he signed with the Angels in 2010. He may not even earn half of that on his next deal.

Pineiro will still be 33 years old next season, and prior to 2011, he was coming off back-to-back seasons with a sub-3.90 ERA.

Seeing as no one will be overpaying for his services this winter, I'd say there is a good chance he'll end up being underpaid.

45. Vladimir Guerrero, 37, DH

Underpaid, Overpaid or Just Right? Just Right

After a 2010 resurgence with the Texas Rangers, Vladimir Guerrero fell back to earth without having the luxury of playing his home games in the Texas heat. He still hit. 290 with 13 home runs, so Guerrero is still capable with lumber in his hands.

Even with his experience, I would say he didn't earn his $7.5 million salary in 2011. That number should drop to less than $5 million this season, which is more in line with his production levels.

If Guerrero lands with a team with a more hitter-friendly ballpark than Camden Yards, there is a chance he could still put up respectable numbers in 2012.

44. Jason Marquis, 33, SP

Underpaid, Overpaid or Just Right? Just Right

Jason Marquis seems to have worn out his welcome at all six stops during his major league career. Not because of his attitude, but because he's been horribly overpaid on the mound.

The Arizona Diamondbacks acquired Marquis this summer to help in their late-season run to the playoffs. After putting up a 9.53 ERA into his third start with the team, he fractured his fibula and missed the remainder of the season.

I suspect that teams will be a bit more wary this time around, so as long as no one hands him $7 million per season, he should earn his keep just fine.

43. J.D. Drew, 36, OF

Underpaid, Overpaid or Just Right? Just Right

For all the flack J.D. Drew received from media types around baseball over his five years with the Boston Red Sox, he really wasn't bad until this past season. That's not to say he was worth his mammoth contract, but he did manage a 114 OPS-plus during his time in Beantown.

Drew will turn 36 years old this November so he probably doesn't have much more to offer on a baseball diamond. He will end up signing somewhere—maybe with the team his younger brother Stephen ends up with.

Either way, Drew won't get much as a free agent this time around, and that's probably what he deserves at this point in his career.

42. Ryan Doumit, 31, C

Underpaid, Overpaid or Just Right? Underpaid

I'm going to go out on a limb here and say that Ryan Doumit will have a breakthrough season in 2012 if he finds a new home to regroup. The Pittsburgh Pirates are unlikely to exercise the $7.5 million option they hold on Doumit for next season.

Doumit—who hit .303 with a 128 OPS-plus in 77 games after returning from the DL this season—has always had talent, but he's never managed to stay healthy during his seven-year career.

That fact alone makes him a risky sign this winter, but it's a risk I'd be willing to take.

41. Bartolo Colon, 39, SP

Underpaid, Overpaid or Just Right? Just Right

As great as Bartolo Colon pitched for the New York Yankees in 2011, I can guarantee you no one will be lining up to sign the aging hurler this winter.

Colon will surely be playing ball next season, though his salary will probably remain near the major league minimum. 

After a fantastic start to the season, Colon ended the season with a 4.00 ERA in 164.1 innings pitched. He showed a considerable amount of wear as the season progressed, so he may not even get a starting gig out of the gate next season.

40. Juan Pierre, 34, OF

Underpaid, Overpaid or Just Right? Just Right

Now that the absurd contract he signed with the Los Angeles Dodgers before the 2007 season has finally come to an end, Juan Pierre will sign a deal more in line with reality.

Though his career OPS-plus of 84 might suggest otherwise, Pierre still has a few good years in him as a leadoff hitter. He owns a lifetime average of .296 along with a .345 OBP, and he leads all active major league players with 554 stolen bases.

While he seemed to lose a step in 2011, his BABIP has been at the lowest of his career the last two seasons (.294 in 2010-11 compared to .331 in 2009), and he's still more than capable of manning center field.

He may get a two-year deal, but I see him more as a year-to-year player at this point.

39. David DeJesus, 32, OF

Underpaid, Overpaid, or Just Right? Underpaid

After suffering through a horrible contract year during his first season with the Oakland Athletics, David DeJesus won't even come close to the $6 million he earned in 2011.

While DeJesus saw his batting average drop to a career-low .240 this season, part of it was due to bad luck. He has a .316 BABIP for his career, though it plummeted to .274 this season.

DeJesus is great in the outfield and has been undervalued throughout his entire career. I don't see that changing this winter.

38. Jonathan Broxton, 28, CL

Underpaid, Overpaid, or Just Right? Underpaid

Once considered one of the best young closers in baseball, Jonathan Broxton's career has certainly taken a turn for the worse the last two seasons.

The 300-pounder pitched poorly during 14 appearances in 2011 before an injury ended his season prematurely. As bad as Broxton has been, he'll still be only 28 years old next season, and he has a career-ERA of just 3.19. 

With all the available closers this winter, Broxton will be what's left over after the more prominent names sign. He will then be signed at a fraction of the cost of the others with hopes that he can at least partially regain form in the future.

37. Raul Ibanez, 40, OF

Underpaid, Overpaid or Just Right? Just Right

Who knows if Raul Ibanez will come back for another season? All knocks aside, he still managed to put up 20 home runs with 84 RBI this season.

If Ibanez does return for his age-40 season, it'll no doubt be as a DH in the American League where he won't hinder his pitchers by scouring around left field.

Ibanez probably wouldn't be signed by a team until most of the market plays out. He won't ask for much, and he won't get much, though it'll surely be what he's worth at this point.

36. Johnny Damon, 37, DH

Underpaid, Overpaid or Just Right? Overpaid

Johnny Damon is coming off a rather solid season with the Tampa Bay Rays, where he hit .261 with 16 home runs in 150 games while bringing a good attitude to a young clubhouse.

Damon now stands 277 hits away from his 3,000th hit, which his agent may use as leverage to garner a two-year deal for the soon-to-be 38-year-old.

Anything more than $2 million per season for Damon's services is too much—at least for his performance on the field. Putting fans in the stands doesn't win ballgames (you know what I mean). 

35. Freddy Garcia, 35, SP

Underpaid, Overpaid or Just Right? Underpaid

Playing for the Yankees on a mere $1.5 million contract in 2011, Freddy Garcia made 25 starts while compiling a 3.62 ERA and a 122 OPS-plus. It's safe to say Garcia earned every penny of his deal and then some.

He will definitely get a raise heading into the 2012 season, though I wouldn't expect him to reach $5 million on his next deal. Even if Garcia does receive that much this winter, he has proven to have plenty left in his arm to make it worth it to whomever signs him.

34. Rafael Furcal, 34, SS

Underpaid, Overpaid, or Just Right? Overpaid

Rafael Furcal showed improvement after being shipped to the Cardinals this summer and a trip to the World Series definitely won't hurt his value.

All things considered, however, Furcal has had one healthy season since 2006 and has seen his skills diminish on both sides of the ball.

Don't get me wrong, Furcal still has the potential get a few more solid years in his 34-year-old body. I, for one, happen to find it more likely that his contract will have "regret" written all over it.

33. Kelly Johnson, 30, 2B

Underpaid, Overpaid or Just Right? Underpaid

Kelly Johnson got the short end of the stick by being shipped from a contender to a pretender before the trade deadline, though I'd be hard-pressed to say he didn't earn his $5.5 million salary for last season.

Chances are he will sign a deal for less this winter, and he'll be a bargain to whichever team is lucky enough to land him. 

Sure, his batting averaged dropped from .284 to .222 this season—but Johnson still hit 21 home runs and provided solid defense at second base. His BABIP also dropped from .339 to .277 this season, so there is a good chance he won't be as unlucky next season.

32. Hiroki Kuroda, 37, SP

Underpaid, Overpaid or Just Right? Just Right

With a 3.45 ERA and 1.187 WHIP for his career, Hiroki Kuroda has quietly put great numbers for four consecutive seasons since joining Major League Baseball before the 2008 season. 

The only question now is whether or not he'll be back for another season. The Dodgers most likely aren't an option, and Kuroda expressed his disinterest in playing for an East Coast team, so there may not be too many suitors for the 37-year-old this winter.

A two-year deal at $10 million per season isn't out of the question, which seems like a fair price for a solid pitcher getting up there in age.

31. Aaron Hill, 30, 2B

Underpaid, Overpaid or Just Right? Underpaid

It appears as though the Arizona Diamondbacks will decline the $8 million option on Aaron Hill for next season, yet I'd be surprised if they didn't do their best to keep him in the desert into the future.

Hill finally seemed to regain some form after the Blue Jays shipped him away before the deadline, and he could be a very intriguing option at second base to many clubs this winter.

After combining for 62 home runs in 2009-10, Hill hit only eight long balls this season. Still, with solid defense and the potential to hit 20-plus home runs, he should have no problem outplaying a $5 million deal next season.

30. Paul Maholm, 30, SP

Underpaid, Overpaid or Just Right? Just Right

Not surprisingly, the Pittsburgh Pirates declined to pick up the $9.75 million option they hold on Paul Maholm next season. 

Whether or not they re-sign him remains to be seen, though Maholm should have no problem getting a deal for around $5 million per season on the open market. At this point, that's exactly what he's worth.

Maholm was stuck pitching for some awful Pirates team's over the last five years but still had two very productive seasons mixed in. His career ERA stands at 4.36, and he rarely gives up home runs (0.8 HR/9).

Given an opportunity in a different situation, Maholm has the potential to drastically outplay his next deal.

29. Casey Kotchman, 29, 1B

Underpaid, Overpaid or Just Right? Underpaid

After a career seemingly headed toward mediocrity during stints with the Los Angeles Angels and Atlanta Braves, Casey Kotchman finally found his groove with the Tampa Bay Rays in 2011.

Kotchman broke through with a .306 average and 128 OPS-plus this season, though he will be overlooked this winter because of his lack of power. He hit only 10 home runs in 146 games, which all but ensures he won't cash-in in a big way this winter.

28. Javier Vazquez, 35, SP

Underpaid, Overpaid or Just Right? Just Right

For anyone who put off Javier Vazquez back in June, you may not have noticed the 2.15 ERA he put up over the second half of the season.

It may not have been enough to get the 35-year-old another $7 million deal for next season, but I'd say he earned every dollar of his previous deal.

While I think there is a strong chance that he ends up being underpaid next season, he's been too inconsistent over the last couple years for me to believe he will more than earn his next deal.

27. Derrek Lee, 36, 1B

Underpaid, Overpaid or Just Right? Just Right

Derrek Lee turned his season around after being traded to the Pittsburgh Pirates while also proving he may still have a little pop left in his bat.

I wouldn't expect any team to offer him a multi-year deal, but a contract similar to the one-year, $7.5 million he received from the Baltimore Orioles last season isn't out of the question.

Lee still provided good defense at first base, and he is a great clubhouse presence, so he can definitely earn his keep on a one-year deal.

26. Erik Bedard, 33, SP

Underpaid, Overpaid or Just Right? Underpaid

There is a good chance I will eat my words here, but I can't think of any scenario that would see Erik Bedard being overpaid this offseason. Heck, I'd be surprised to see him get a two-year deal.

Believe it or not, Bedard was underpaid in 2011 as well. He earned only $1 million while tossing 129.1 innings of 3.62 ERA ball.

One more year removed from shoulder surgeries should prove beneficial for the oft-injured pitcher, though no one can argue his dominance when healthy.

Either way, he won't get much on a one-year deal, and he'll probably earn his contract over a half-season.

25. Hisashi Iwakuma, 30, SP

Underpaid, Overpaid or Just Right? Just Right

Thanks to the Oakland Athletics' failure to sign Hisashi Iwakuma after paying his posting fee last offseason, no team will have to pay the fee to negotiate a deal for the Japanese pitcher this winter.

This means Iwakuma should snag a three or four-year deal worth around $7 million per season for a major league ball club.

The soon-to-be 30-year-old has a 2.72 ERA during his career in Japan. Any success even remotely close would make him well worth the money.

24. Coco Crisp, 32, OF

Underpaid, Overpaid or Just Right? Underpaid

Coco Crisp thrived during his two years in Oakland and probably earned himself a multi-year deal in the process. 

Though his career OPS-plus of 95 screams below average, Crisp is solid defensively in center field, and he led the AL with 49 stolen bases in 2011. 

Assuming his .314 OBP in 2011—which was by far a career low—was a fluke, Crisp could be a solid leadoff hitter for many teams around the league. 

That being said, I can't see a team giving him a deal on par with the $6 million he earned in 2011, so he'll probably outplay his next contract.

23. Ryan Madson, 31, CL

Underpaid, Overpaid or Just Right? Underpaid

Coming off a season that saw him pitch to a 2.37 ERA with 32 saves for the Philadelphia Phillies, Ryan Madson may be the most undervalued player on the market this winter.

Madson is never mentioned among the top available closers, and therefore, he won't get top-closer kind of money.

Since being converted to a reliever after the 2006 season, Madson has a sub-3.00 ERA, and he's seen his K/BB ratio jump to over 4.00 over the last three seasons. 

22. Mark Buehrle, 33, SP

Underpaid, Overpaid or Just Right? Just Right

While not flashy, Mark Buehrle has been about as consistent as a pitcher can get on the mound throughout his career. He owns a career ERA of 3.83, and he's pitched more than 200 innings during each of the last 11 seasons. 

Due to an abundance of bad contracts on their payroll, it is unlikely that Buehrle will return to the White Sox next season. 

I can't see Buehrle approaching the $14 million per season he received on his expiring deal, but he should earn in the range of a three-year, $30 million deal, and he'll be worth every penny.

21. Josh Willingham, 33, OF

Underpaid, Overpaid or Just Right? Underpaid

Josh Willingham slugged 28 home runs with 98 RBI in only 136 games with the Oakland Athletics this season and should be an attractive outfield option to many clubs this winter.

The oft-traded outfielder should be able to secure a multi-year deal, though it surely won't be for what his numbers might suggest.

Though he's been average in left field, Willingham has a career OPS-plus of 121 while he's quietly got on base at a .361 clip. Regardless, I would be surprised to see him earn $5 million per season on his next deal.

20. Jason Kubel, 29, OF/DH

Underpaid, Overpaid or Just Right? Just Right

Jason Kubel isn't the greatest defensively in the outfield, but he has fared well against right-handed pitching throughout his career, and he will be compensated for it this winter.

No team will get too crazy in their pursuit of Kubel, though he should be able to nab at least two years on his next deal. 

19. Carlos Pena, 34, 1B

Underpaid, Overpaid or Just Right? Just Right

Carlos Pena made $10 million on a one-year deal with the Chicago Cubs in 2011 and will probably receive a similar deal from a club this winter.

Pena is good for 25-30 home runs per season, and he gets on base at a good clip (.357 OBP in 2011). The only issue is his .225 batting average, which actually increased by .028 over 2010.

The batting average may prevent him from getting a multi-year deal, but he'll be paid fairly for what he brings to a ballclub.

18. Nick Swisher, 31, OF

Underpaid, Overpaid or Just Right? Just Right

After a slow first half to the 2011 season, Nick Swisher rebounded in the second half to hit 23 long balls while driving in 85 runs.

The Yankees hold a $10.5 million option on Swisher for next season, though I think they'll decline the option and work out a three-year deal.

Offensively and defensively, Swish has consistently been well above-average for a right fielder and the Yanks or another club will compensate him for it.

17. Yu Darvish, 25, SP

Underpaid, Overpaid or Just Right? Overpaid

Unless Yu Darvish is the greatest pitcher in Japanese baseball history and an immediate Cy Young Candidate in Major League Baseball, he will instantly be overpaid.

This is solely due to what is expected to be at least a $25-30 million posting fee just for the right to negotiate a deal with the 25-year-old.

The posting fee can turn a $10 million per season deal into $15 million very quickly, and I'm not sure Darvish can live up to that salary.

16. Edwin Jackson, 28, SP

Underpaid, Overpaid or Just Right? Overpaid

I've never been a fan of Edwin Jackson due to his inconsistency on the mound, but he has performed well enough down the stretch for the St. Louis Cardinals to maximize his value on the free-agent market.

Unfortunately for the team who ends up signing him, he'll never live up to the contract. 

Jackson has a 4.46 ERA and a 1.476 WHIP during his nine-year career but will likely get a deal paying him more than $10 million per season. 

15. Grady Sizemore, 29, OF

Underpaid, Overpaid or Just Right? Underpaid

Grady Sizemore has seen his once promising career derailed due to a variety of injuries the last three seasons, though he will not struggle to find work in 2012.

The Indians will certainly decline the $8.5 million option they hold on Sizemore next season seeing as he'll be coming back from knee surgery. 

He would end up getting an incentive-laden deal on the open market, and if by chance he can stay healthy, he has the talent to well outperform the deal.

14. Francisco Rodriguez, 30, CL

Underpaid, Overpaid or Just Right? Underpaid

Francisco Rodriguez came out averaging around $11.5 million per season over the life of his expiring deal, which seems relatively in line with his performance over the last three seasons.

Considered by many to be the third-best closer on the market this winter, he will likely have to take a deal for far below his actual value as a closer. 

He is the youngest of the top trio available but will suffer due to a saturated market for closers this winter.

13. David Ortiz, 36, DH

Underpaid, Overpaid or Just Right? Just Right

The only thing I took away from the recent blown-out-of-proportion talk of David Ortiz joining the Yankees next season is that Big Papi may not be back in Boston next season. He made that point pretty clear.

While I don't see the Yankees as a fit, even if they were, they wouldn't pay him as much as the Red Sox. He has (had?) clout within the organization, and they would recognize him for it, though he would end up being overpaid for what he's actually worth at this point in his career.

On the open market, however, Ortiz will get a contract more in line with what he's worth as a 36-year-old DH. This means no more than $20 million over two years. 

12. Jimmy Rollins, 33, SS

Underpaid, Overpaid or Just Right? Overpaid

In all fairness to Jimmy Rollins, he was massively underpaid during the life of his expiring contract. The former MVP had a team-friendly deal that topped out at $8.5 million in a season.

Surprisingly, Rollins recently made public his desire for a five-year deal on his next contract—even if it's with Philadelphia—which means one way or another he'll end up being overpaid.

Anything more than the $8.5 million he has been getting paid the last few seasons would be too much, but we know he'll get it. His offensive numbers have plummeted since his MVP season in 2007 and he's spent quite a bit of time on the DL.

11. Jonathan Papelbon, 31, CL

Underpaid, Overpaid or Just Right? Just Right

Aside from one down season in 2010, Jonathan Papelbon has established himself as one of baseball's premier closers, and he'll finally get the multi-year contract he has long desired.

Even though the Red Sox have Daniel Bard waiting to take over for Pappy should he leave, my guess is that the deep market for closers will send his price down to a reasonable enough range where the Sox retain him on a three-year deal.

Given Papelbon's stellar peripherals, if anything he'd be underpaid—but I think a deal paying him about $12 million per season is just about right.

10. Heath Bell, 34, CL

Underpaid, Overpaid or Just Right? Overpaid

Heath Bell may get the largest contract among all free-agent closers this winter, though he'd be third—at best—on the list of closers I would pursue.

Bell has accumulated 132 saves with an ERA around 2.40 since taking over for Trevor Hoffman three seasons ago. Stellar numbers, indeed.

The way I look at it, Bell is 34 years old, and he's spent his entire career closing games for a team with a pitcher-friendly ballpark. For example, his ERA balloons up to 3.61 in games outside of Petco Park in San Diego.

Bell is still a good pitcher and should do fine as a closer for whichever team lands him, but he will still be overpaid.

9. Michael Cuddyer, 33, 1B/3B/OF

Underpaid, Overpaid or Just Right? Just Right

Michael Cuddyer can play above-average baseball all over the field—even taking the mound as a pitcher for an inning this past season.

Cuddyer has quietly put up solid numbers throughout his career and will consistently hit around .280 with 20 home runs each season. 

While he will most likely head back to Minnesota by choice this winter, he will not be overpaid or underpaid no matter what he decides to do. He will be paid around $10 million per season, and that is right in line with what he's worth.

8. Carlos Beltran, 35, OF

Underpaid, Overpaid or Just Right? Overpaid

Carlos Beltran enjoyed a great rebound season in 2011 after missing a large amount of time due to injuries during the two prior seasons.

He hit .300 with 22 home runs with the Mets and Giants combined, neither being a hitter-friendly place to play.

That being said, Beltran will be 35 years old next season, he's lost all ability to steal bases, and he can no longer play center field. 

He will still end up getting at least a three-year deal for around $40 million, which is a high price to pay for a player who hasn't stayed healthy for a full season since 2008.

7. Roy Oswalt, 34, SP

Underpaid, Overpaid or Just Right? Underpaid

As the odd man out in the four-headed monster of a rotation, the Phillies will surely decline the $16 million option on Roy Oswalt next season.

Oswalt will probably land a deal in the three-year, $36 million range this winter, which would be a bargain for a pitcher with a 3.21 career-ERA.

His age alone will prevent Oswalt from getting more than four years on his next deal, but he still has the potential to be a staff ace for a few more seasons, depending on with whom he signs.

6. Aramis Ramirez, 34, 3B

Underpaid, Overpaid or Just Right? Overpaid

After a couple injury-riddled seasons, Aramis Ramirez fought back to hit .308 with 26 home runs during his contract year in 2011. Of course, the Cubs hold a $16 million option on the slugger for next season, but I doubt they exercise it.

Ramirez has the luxury of being the best third baseman on the open market this winter—by a long shot—so he should have no problem cashing in on a lucrative three or four-year deal.

His defense has seen a steep decline over the past couple of seasons, and he's played in only three full seasons over his 14-year career—none since 2006.

5. CC Sabathia, 31, SP

Underpaid, Overpaid or Just Right? Overpaid

CC Sabathia is a great pitcher—one of the best in baseball. Regardless, the four years and $92 million he has remaining on his contract is already too much. Adding a couple more years at the same amount will only make it worse.

Of course, I don't blame CC for getting what the Yankees will pay him. He is smart in that regard.

CC Sabathia is 300 pounds and has pitched over 230 innings during each of the last five seasons. Chances are that it'll catch up to him at some point.

4. Jose Reyes, 29, SS

Underpaid, Overpaid or Just Right? Just Right

While I say Jose Reyes' next deal is "just right," it is really just me picking the safe route for a deal that has the potential to be either a steal or a massive failure.

Reyes won the NL batting title this season with a .337 average and, when healthy, can be considered the best shortstop in baseball.

He can steal bases with anybody and has the power to generate double-digit home runs as well. 

That being said, Reyes hasn't been able to play in a full season since 2008 and is a huge injury risk to whomever signs him. I think teams will take that into heavy consideration before offering him a big deal.

3. C.J. Wilson, 31, SP

Underpaid, Overpaid or Just Right? Just Right

Since being moved into the starting rotation before the 2010 season, C.J. Wilson has gone 31-15 with a 3.12 ERA. Those are some gaudy numbers for a pitcher who plays his home games at a hitter-friendly ballpark in Texas.

Wilson and CC Sabathia are the same age, though I don't expect Wilson to bring in as much during free agency. He could still reach the $100 million mark, though.

There is a good chance Wilson takes less money to return to Texas, in which case, he may be considered underpaid.

2. Albert Pujols, 32, 1B

Underpaid, Overpaid or Just Right? Overpaid

Albert Pujols will no doubt earn his money at the beginning of his next deal, though it's the back-end of the deal I'd be worried about if I were a GM.

Coming off the worst statistical season of his career, Pujols will sign an eight-year deal just above or below $200 million. That's a hefty sum for a soon-to-be 32-year-old who appears headed toward the downside of his career.

He is still one of the most clutch hitters in the game, which he has proven time and time again during the postseason. 

One has to wonder when injuries will catch up with Pujols, as well. If he can stay healthy, a run at 3,000 hits and/or the all-time home run record can help make up for a decrease in productivity at the tail-end of his next deal.

1. Prince Fielder, 28, 1B

Underpaid, Overpaid or Just Right? Just Right

Assuming Prince Fielder's next contract tops out at no more than $200 million, he'd be worth every last dime.

There are few hitters in baseball as feared as Fielder and none who have proven to be more durable over the last six years. He has played in at least 157 games every season while averaging 38 home runs.

An eight-year deal would end when Prince is still 35 years old, so while he'd definitely be on the downside of his career, it's far better than contracts we've seen go through a player's 40-year-old season.

Jeffrey Beckmann is an MLB featured columnist for Bleacher Report. Follow Jeffrey on his new  Twitter account for all of his latest work.