Andrew Cashner, Jason Vargas, and Jaime Garcia signed in the last two days, and they continue to show that teams have devalued the price of an unit of WAR. Cashner signed with the Orioles for two years, $16 million, and was probably worth $24 million given the history of free agency. Vargas signed with the Mets, in a very similar deal. Vargas appears to be more in line with the $8 million per expected WAR, but he didn’t pitch much in 2015-2016. One could make the argument that a healthy Vargas would also be worth $24 million over his two seasons.
Garcia signed with the Blue Jays for one season at $8 million, with either a $2 million buyout in 2019, or $10 million for the year. Garcia looks like a two WAR pitcher, so he should be getting around $16 million a year. Combining the three contracts, it looks like WAR is being paid at 65% of the $8 million per year I expected.
from baseballmusings.com http://ift.tt/2EzOTes
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