Top MLB Exec Says His Big-Market Team Doesn't Have Any More Money
Baseball’s “Hot Stove League” has gone cold the past few seasons as owners are reluctant to dole out huge sums of money for baseball’s high-priced free agents.
This year, the two prizes of the free agent season, Bryce Harper and Manny Machado, remained unsigned as spring training is already underway.
One of the teams that had been rumored to be in the market for one of the sluggers, the Chicago Cubs, gave a pretty simple answer as to why they aren’t in the market.
Cubs owner Tom Ricketts was asked why more money wasn’t invested in the on-field product this off season (Bryce/Manny etc) : “That’s a pretty easy question to answer. We don’t have anymore.”
— Jesse Rogers (@ESPNChiCubs) February 18, 2019
“That’s a pretty easy question to answer,” Cubs owner Tom Ricketts said Monday, according to ESPN, when he was asked why the Cubs weren’t spending any money on Harper or Machado. “We don’t have any more.”
Money, that is.
The Cubs have money, of course. The franchise is worth some $3 billion and they have a payroll of about $208 million, according to CBS Sports.
More specifically, they don’t have the money to spend on players who are seeking upwards of 10-year, $400 million contracts.
“We’ve put our money back on the field,” Ricketts said, according to ESPN.
“Unfortunately, you just can’t have a high-profile free agent every single year. Part of that is how much it costs. Whatever the $25-30 million it’s going to cost, plus it’s a 10-year commitment. You have to pay those dollars.
“As much as I would love to have a great, new, exciting player, it just can’t happen every year,” Ricketts added.
The Cubs chairman denied that there’s any collusion going on among owners.
“I can say that’s not the case,” Ricketts said, according to ESPN.
“I don’t think there is any collusion. I have no idea what’s going on with the free-agent market with respect to Harper and Machado, but I don’t think anyone is colluding with anyone.”
Last year, the Red Sox didn’t sign J.D. Martinez until Feb. 20, so the situation is certainly not unprecedented.
Harper talks with Phillies appear to be intensifying, but no word anything’s done and to this point it seems other interested teams haven’t been told they are out. That includes Padres, Nats, Giants, Chisox, multiple mystery teams.
— Jon Heyman (@JonHeyman) February 17, 2019
One interesting dynamic to the Harper/Machado market: 3 prime teams have shown interest in both stars — the Phillies, Padres and White Sox. Phillies have been confident they’ll land 1 of the stars, but at least 1 of these teams will be shut out.
— Jon Heyman (@JonHeyman) February 18, 2019
It appears, according to baseball insider Jon Heyman with Fancred, that interest in Harper and Machado is intensifying among several teams, including the Phillies, Padres, Nationals, Giants, and White Sox.
With several teams, Harper derby may take a few or even several more days. Besides favored Phillies there are at least the Giants, Padres, White Sox and perhaps incumbent Nats. Wash hasn’t been at forefront but could come late. Rumor they have right to match at end is untrue tho.
— Jon Heyman (@JonHeyman) February 18, 2019
But as ESPN’s Buster Olney tweeted last week, expect the prices to come down from the 10-year, $400 million range.
When Harper and Machado deals go down, ignore smoke/mirrors and lock in on this: guaranteed present-day dollars. Some rival agents think Harper will get north of $300 million, Machado something in the range of $225m-$250m. For best chance at ’19 success, deals need to happen soon
— Buster Olney (@Buster_ESPN) February 17, 2019
“For best chance at ’19 success, deals need to happen soon,” Olney wrote.
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