Rays Sign Wheeler to Three Year Deal; Make Option Decisions

by Patrick L. Kennedy on Apr 1, 2008 2:32 PM EDT Comment 26 comments

Per a team press release, the Rays have signed reliever Dan Wheeler to a three year deal that will ensure his presence in Tampa Bay's bullpen through the 2010 season. The team also announced that they have exercised the option on LF Carl Crawford's contract for the 2009 season, while declining that same option on CF Rocco Baldelli's contract.

Wheeler's contract guarantees him $10.5 million over this season and the two succeeding it. In addition, there is a club option for 2011. The deal includes the usual monetary commitment to the team's charitable foundation, which totals $150,000 over the life of the deal. That amount rises to $225,000 if the Rays invoke Wheeler's option year.

Meanwhile, the option decisions on the contracts of Crawford and Baldelli were necessitated by the April 1st deadlines in their contracts. By invoking the 2009 option on Crawford's deal, the team will pay him $8.25 million for his services that season. The exercised option year is one of two on the contract that Crawford signed just before the 2005 season. The other is a $10 million option the team would need to invoke for Crawford to stay another season in a Rays uniform.

As for Baldelli, that the team would decline its option on him was a foregone conclusion after he sustained injury earlier this spring. In fact, the team probably wouldn't have exercised the option even if he was healthy, given his disappointing performance and injury problems last season. By declining the $6 million option on the injured outfielder's deal, the team triggered a $4 million buyout payment. Baldelli's future status is unclear given his current placement on the 60 Day DL due to a Mitochondrial disorder that has severely affected the recovery time of his muscles

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Wheel in the sky keeps on turning

Great deal for the Rays, keeping their best reliever at a cheap rate.

by R.J. Anderson on Apr 1, 2008 2:33 PM EDT reply actions 0 recs

I wonder

Based on the length of the commitment given, if the team sees Wheeler as the future closer?

by Patrick L. Kennedy on Apr 1, 2008 2:39 PM EDT up reply actions 0 recs

I wonder as well

by R.J. Anderson on Apr 1, 2008 2:41 PM EDT up reply actions 0 recs

I think this is more cost maintenance than a sign of Wheeler becoming the closer. Right now relievers of Wheelers quality are getting $4M+ per season, so the DRO is trading dollars for security.

www.lbacentral.com

by SeanDubbs on Apr 1, 2008 2:58 PM EDT up reply actions 0 recs

Fair point

But I'm not just talking about dollars, I'm talking about the length of the deal. And that the team would sign Wheeler to a deal that could keep him here through 2011 shows that they obviously see him as crucial. Look around. Reyes and Percival aren't going to be late inning options for much longer than this year and maybe next, so someone needs to fill the void. The Rays could obviously convert one of their starting prospects to a closer role, but Wheeler is an option as well.

by Patrick L. Kennedy on Apr 1, 2008 3:13 PM EDT up reply actions 0 recs

True

With all things being equal as far as age, injuries, and performance go Wheeler is by far the most valuable member of our pen. Once again the DRO got great value out of a contract. I wonder if they used Rocco as leverage to get the deal done? Fear of injury is more powerful than money to the average player.

www.lbacentral.com

by SeanDubbs on Apr 1, 2008 3:21 PM EDT up reply actions 0 recs

Wheeler

So, I guess we're not afraid to spend money...O_O

by P Brady on Apr 1, 2008 2:35 PM EDT reply actions 0 recs

Nice to see

You had to see the Crawford and Baldelli decisions as foregone conclusions, but it's nice to see the team commit to Wheeler.

by Patrick L. Kennedy on Apr 1, 2008 2:39 PM EDT up reply actions 0 recs

CC

This offseason we need to lock him up now!

by rglass44 on Apr 1, 2008 2:40 PM EDT reply actions 0 recs

Hopefully we can

Crawford seemed very positive about the option being exercised, and expressed a willingness to stay here long-term. Hopefully we can grant that wish. He is a tremendous talent and an excellent ambassador for this organization.

by Patrick L. Kennedy on Apr 1, 2008 3:16 PM EDT up reply actions 0 recs

Nice move...

Despite all the groaning about the message that the organization is sending to their fans about Longoria, I think this is just another in a trend of solid moves that shows that this is a new era in Tampa.

"It is like Menudo, where guys reach a certain age and are kicked out of the band. And they go on to be Ricky Martins somewhere else." -Billy Beane

by Stephen Webb on Apr 1, 2008 2:49 PM EDT reply actions 0 recs

i like the move, 3.5 a year for the next two is an ok amount to me. but only if he shows '06 numbers, and not '07. i know he may be "the best reliever we have", but sadly that's not saying much. he needs to keep that era under 4 to come close to deserving that kind of money, more realistically he should be in the low 3 to under 3.

by davidsmarch on Apr 1, 2008 3:00 PM EDT reply actions 0 recs

He is our best reliever based on his periphs rather than his ERA.

Read this: Me on Wheels

. If I were the Rays I'd consider offering Wheeler a four year contract this off-season, which would in effect make it a three year free agent deal, slant next year closer to what he's likely to get in arbitration (I'd guess around 3 million) then progress to the point where he'd make around 15 million total with incentives to make 19 or 20 million.

by R.J. Anderson on Apr 1, 2008 3:07 PM EDT up reply actions 0 recs

That's my concern as well

But there are conflicting schools of thought here. By locking up Wheeler now, you are banking on the prospect of him returning strong coming off of a down year. Some might suggest that the multi-year deal should wait until after Wheeler shows a lower ERA and proves worthy of it, but if you do that you are looking at a higher cost and potentially less willingness on his part to sign up. He may want to test the market.

So I think in this situation, you have to weigh the peripherals as R.J. notes. Look at the strikeout rate and walk rate, and you look at his track record before last season. All three of those factors would suggest a return to the mid-2 ERAs that he put up in Houston. Is it a gamble to rely on those factors to portend a successful tenure here? Of course it is, even more so when you are putting this kind of money into it.

But I would suggest that not taking risks essentially means you're stagnant, and you won't get anywhere doing that. So an educated risk every once in a while is worth it, IMO.

by Patrick L. Kennedy on Apr 1, 2008 3:22 PM EDT up reply actions 0 recs

"Of course it is, even more so when you are putting this kind of money into it"

This deal is below his mark value. Look at Linebrink, the red lights were flashing and the Sox gave him 19 mil.

by R.J. Anderson on Apr 1, 2008 3:36 PM EDT up reply actions 0 recs

Or $10M for Gagne. I was watching that Cubs game up at the bar last night and saw that 9th inning from a mile away. It makes me wish we were in the NL Central.

Hey Yankees... you can take your apology and your trophy and shove 'em straight up your ass!

by Sandy Kazmir on Apr 1, 2008 3:40 PM EDT up reply actions 0 recs

It is below market value

But the debate is over whether putting up "market value" in an offer is worth the risk, from the Rays' standpoint. It is a risk, as Wheeler is coming off an underperforming season. It might be a risk the market is willing to take, but the Rays didn't have to.

They decided that they would and made what amounts to, IMO, a good deal. Good for them.

by Patrick L. Kennedy on Apr 1, 2008 3:55 PM EDT up reply actions 0 recs

Wheeler and Linebrink look alike to me if projecting

There may be red lights flashing for linebrink, and going to that park is really gonna hurt him, cause he's susceptible to the long ball. But Wheeler's peripheral trands aren't better than his - his K and BB rates are holding, but his hit rate spiked last season. So he could go either way.

Not to say this is a bad deal. That the Rays were willing to take the financial risk says something positive. They're addressing an area where they're plugging gaps right now in what was a big past problem. And let's not forget we're still looking at the 2nd lowest payroll in baseball - with overall revenue growth so strong revenue sharing allows for a higher risk profile. And success - even if only a best ever season - could lead to significant local revenue gains in the short run. The hope is Wheeler provides a bridge in the pen to the target years coming. And holds up his end in performance.

by nyyfaninlaaland on Apr 2, 2008 1:55 PM EDT up reply actions 0 recs

"And let's not forget we're still looking at the 2nd lowest payroll in baseball"

That we are, which decreases the monetary "risk" involved here, if you can call 3/4 million a risk.

by R.J. Anderson on Apr 2, 2008 2:51 PM EDT up reply actions 0 recs

""I'm very happy,'' Crawford said. "I would like to thank the Rays organization and Stu Sternberg for believing in me. I'm grateful for the opportunity for this day. I'm looking forward to being here for a long time because I think we're at the start of something great going on here. I want to do well for them and represent the team in a classy manner.""

by R.J. Anderson on Apr 1, 2008 3:20 PM EDT reply actions 0 recs

love it!

by rglass44 on Apr 1, 2008 3:54 PM EDT up reply actions 0 recs

Makes him Marketable

Not sure whether or not he is our best reliever, but I seriously doubt he would be the best reliever on most playoff teams. That doesn't make him worthless. He is a solid, league average reliever, and as such that makes this contract both smart and safe. If we contend over the next few years we will need solid middle-relievers like him. And if we tank, his contract makes him very marketable, as contending teams tend to overpay for relievers at the deadline.

by GomesSweetGomes on Apr 1, 2008 4:27 PM EDT reply actions 0 recs