These shortstop contracts are absurd
Carlos Correa is the latest star shortstop to receive a 10+ year deal. It probably won't age well.
Credit to Carlos Correa. He bet on himself last offseason, signing a lucrative short-term contract with the Minnesota Twins that allowed him to opt out and test the free-agent market again in 2022. It proved to be the right decision, though not even he could have expected the ridiculous contract he’d end up getting a year later.
Correa signed a 13-year, $350 million deal with the San Francisco Giants that will take him through his age-41 season. That officially makes him the highest-paid shortstop in MLB history, though his average annual value still lags behind Francisco Lindor (10 years, $241 million with the Mets) and a few others.
Nonetheless, Correa got the long-term deal he’s been looking for and should pay dividends for the Giants. For a while, at least. These decade-plus contracts hardly — if ever — are looked back on fondly. Albert Pujols’ 10-year, $240 million Angels contract stands out as the most obvious example. Though not quite as long of a deal, Miguel Cabrera’s eight-year, $240 million extension with the Tigers also aged like milk.
The difference, of course, is that shortstop is a premium position some would argue is worth the expensive long-term investment. That seems to be the belief of a number of teams across the league. Xander Bogaerts signed a shocking 11-year, $280 million contract with the San Diego Padres and Trea Turner earned 11 years, $300 million with the Philadelphia Phillies during the winter meetings. Dansby Swanson is the final elite shortstop left on the market and would anyone be surprised at this point if he signs for around 10 years and $200M+? The thought of that would have been deemed ridiculous a month ago.
These crazy shortstop contracts, like it or not, are the new norm. Fernando Tatis Jr.’s 14-year, $340 million deal with the Padres set the tone last year. That one has already come back to bite them in the ass.
The Rays of all teams locked up 21-year-old shortstop Wander Franco on an 11-year, $182 million extension shortly after his rookie 2021 season. Suddenly, that looks like a bargain. Especially since Franco will only be 32 when his contract ends. It’s the deals that take players through their late 30s and early 40s that leave me scratching my head.
Corey Seager will be 38 when his 10-year, $325 million contract with the Texas Rangers expires. You’re telling me that deal will look good 5-10 years from now? Consider me skeptical.
I don’t necessarily blame the Giants, either. They needed to make a big splash after coming up short in the Aaron Judge sweepstakes. The Los Angeles Dodgers — while they could take a significant step back next season — remain the kings of the National League West. The Padres have beefed up their roster to contend for the division crown in 2023 and beyond. San Francisco had no choice but to respond if they hoped to keep up.
The return on investment on Correa, Bogaerts, Turner, and the other shortstops locked up long-term very well could be proven worth it over the next handful of years. One World Series title would settle that argument. That said, there’s a higher chance these front offices are ridiculed when these contracts are assessed in our old age.