Trade: TBD | Night King’s Undead Army

Night King’s Undead Army sends: SP Alex Reyes (cost controlled), SS Jean Segura ($10), SP Alex Wood ($16), SP Mike Soroka (minors)
TBD sends: SS Corey Seager ($64), $35 2016 Auction Budget

Andrew’s thoughts:¬†¬†This is one of the bigger trades we’ve ever had and its clear to me that both teams were thinking outside the box on this one. I think last year we saw $30 moved for, like, Dallas Keuchel and Devon Travis if memory serves me correctly, so there is some precedent to moving big time auction budget. I will say that $35 of auction moving doesn’t seem like a huge deal. I think the willingness to part with chunks of budget is a big market inefficiency. I can’t tell you how many people offer me $1 for a player as if $1 really matters. Generally speaking, I think auction budget should probably be swapped in $5 increments before it starts having any impact whatsoever. Go look at the results of last year’s auction and then try and tell me you think $1 really matters in a significant way. I don’t think you can convince me.

Moving on: Jordan is getting the best player here in Corey Seager. Granted, he’s $64. With getting $35 in the deal, he’s essentially locked Seager up to a one-year, $29 contract, which is obviously favorable in the short term. As a long term asset, who really knows. Seager’s young, obviously, and just tapping into his potential. But depending how cuts and auction go, he may still be unprotected again next year and vulnerable to greed, which is probably insignificant but could become an issue once he starts pushing $70. So a year from now, barring a future trade, Jordan will have to shuffle things around this contract. But he’s an elite talent, so oh well. I think you can find a real edge in not fixating on the long term ramifications, and instead just operating year to year and trying to be competitive. If enough other teams are operating with 3-5 years in their mind just because “dynasty,” that should present opportunities to improve on a one-year basis almost every single offseason.

Speaking of market inefficiences and game theory, how much value does sending budget to offset larger salaries help facilitate deals and return real talent? I think Jordan, Joe, and Josh unlocked an avenue (that should’ve been obvious) for everyone. Hey, if you’ve got a $40 player that no one wants, but will send $20 along with him, you can probably actually get something done!

TBD, meanwhile, has added several players with clear paths to surplus. Alex Reyes is the big get for them. Despite all the hype, he’s still unproven and coming off injury. I love the potential though, and he’s likely going to cost only $3 even after arbitration. He’s more appealing long term, because his usage and effectiveness this year offer a wide range of possible outcomes. I won’t be surprised if he’s a top-10 SP this time next year, which can’t be said of most pitching prospects.

At $10, I think Jean Segura is probably undervalued by the league. I don’t see much difference between some unproven, mediocre SS on a cost controlled salary and a guy as good as Segura’s been for $10. Over the last two seasons, two qualified shortstops (Seager, Correa) have wOBAs better than Segura. In some ways, you could actually argue the entire framework of this deal is busted because Jordan punted on several potentially valuable assets for a marginal upgrade from Segura to Seager at short, plus whatever long term hindrances Seager’s salary brings. Segura isn’t exciting but he’s been productive.

Alex Wood is not super exciting to me. At $16, he’s certainly affordable, and the talent is very real, but he’s so hard to trust. He spent time on the disabled list again last year (when it mattered most, during H2H playoff time, if I recall) and just doesn’t look like a guy you can ever bank a full season from. Maybe that’s irrelevant though, as TBD continues building a dirt cheap rotation, high upside around Corey Kluber and Jacob deGrom. I don’t mean to knock on Wood (lol unintentional), and I like him, I just think he’s a tough guy to really pin down as a trade piece.

Mike Soroka is, to me, a throw in and I don’t have it in me to waste more words than this on him.

I actually think TBD “wins” this trade over the long haul, but I give the edge to Jordan for 2018. I also sort of wonder what the point is of amassing prospects and cheap salaries if you’re not going to be willing or able to keep your Seagers. These are smart owners, so I know they know what they’re doing. I’d probably just rather keep Seager than, I don’t know, shuffle stuff around to free up money to keep Justin Upton and/or Chris Davis (I think they’re cutting both, but you get the point) or roll the dice on Reyes. I’d sooner cut and re-bid a guy like Jacob deGrom than deal Seager, though obviously they got a pretty big haul here. I don’t know. Although, here’s another market inefficiency: actually making good prospects available. Most teams, in my experience, won’t even talk to you if a guy’s name appears on a list somewhere. I think there’s several teams that want to offer up, at best, like their 8th best prospect for real talent. If TBD stocks up on cheap resources and then actually makes them available while other teams won’t, it gives them a real edge on the trade market to add elite players at high salaries in season, simply because no other team is willing to part with the cost controlled guys.

 

Hustle’s Toxic $.02

Bailey said a lot of things, most of which I agree with. The cash coming over is quite interesting and creative. I don’t really track other people’s budgets and I’m not going to start for the sake of trade reviews. So good on Jordan for getting $35, I’m assuming Joe could afford it without Seager!

I thought before this trade, while Jordan may have not had a top 2-3 SS, he has the best SS depth in the league with Didi, Dejong, and Segura.¬† I do think Seager is a clear upgrade, but he costs a lot more.¬† When Seager starts against any RHP, he’s an obvious start every time which pushes Dejong and Did to Util, which isn’t ideal. I guess Dejong also has 2b eligibility this year but Jordan also has a cheapish Kinsler, Lowrie, and Albies for 2b.¬† It’s not an ideal situation to maximize value, but this could sort itself out with injuries or subsequent trades.

What I don’t love about this trade for Jordan is that it decimates his SP depth. Currently sitting on an aging Lester and Gio Gonzalez, the Undead army is lacking punch from the rotation.¬† I think Wood and Reyes represented cheap near ace production from pitcher spots and I don’t love the idea of getting rid of both guys with roster construction, and I don’t think Kyle Zimmer is coming up from the minors to save the day… although that Zombie like emergence would be very Undead Army of him.¬† I think Wood could be a pretty fine sell high after last season (probably would have been better after the 1st half), but allowing Joe to “buy low” on Reyes seems like it could be a hiccup down the line. I also don’t have much of a hot take on Mike Soroka, but TBD usually knows what they are doing with prospects. Soroka is in AA already and has been successful thus far.¬† I don’t think the Jordan had a particularly deep rotation before this trade, and now it seems quite worse even if Reyes and Soroka weren’t immediate help.

I would look for Jordan to move some middle infield depth for some starting pitching.¬† It seems like every team is going to be looking to add multiple starters during the auction, so I really can’t see how Jordan (or anyone) can feel confident coming away from the auction with value at SP. Maybe I’m just having flashbacks last year to spending most of my budget on Smyly or Rodon, but the auction isn’t pretty.

I think TBD downgrading at SS for a bunch of SP assets seems fun and interesting. With all the high cost players TBD has, trading one away for multiple interesting assets seems like the way to go and he finally found a suitable buyer for one of them.  If Wood, Soroka, and Reyes all bust (which I see as highly unlikely), then you still have yourself an affordable and good SS in his 20s for a few more years.

Something something, grinding differently.

 

 

 

 

2016 Auction Review – Betternamelater

Betternamelater

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The winner for Clayton Kershaw was always going to be a contender. As I’ve stated before and again. He’s almost guaranteed to be a value. I had him realistically rated as high as $150. Getting him for $117 hurts in some ways, but the team with a better name in the works, made out like bandits on a few auctions.

Hitting – Good

Manny Machado is a star in this league. Edwin Encarnacion is a fantasy star, his defense doesn’t play here. Carlos Gonzalez is still in Colorado, and even if he was not, he’s still a near lock for top five in left field. I’m higher on Adam Eaton and Curtis Granderson, lower on Ketel Marte and Dee Gordon. It will probably even out. Are we relying on Billy Butler to be a staple at the second utility spot here? Hmm. There is a lotto like about this line up, stealing Brandon Belt for $14 seems like a great buy, Keith Law probably still agrees.

Pitching –¬†Great

Kershaw is the best player in the league. Danny Salazar, Marcus Stroman and Steven Matz are all really good and interesting. I consider them all tier 2 pitchers, but if they all ended up in tier one at the end of the season I will not be surprised. I do not love Alex Wood, but between him and Nathan Eovaldi you have a solid number five and I’d be okay with Jorge De La Rosa as my sixth when he’s out of Colorado. Weeks when Kershaw pitches twice, there’s not many pitching staffs that will out-duel. He’s just so damn good. The bullpen may or may not hold this staff back. Hector Rondon has a lot of good outings, and some seriously bad ones. Joaquin Benoit is pitching in Seattle, but currently does not have a secured role.

Depth – Alright

The depth here is set to be alright. The positional flexibility plays well here. There’s no backup 2b or SS here. How many plate appearances will be left on the cutting room floor, or only slightly better, left at replacement level. Probably too many. But that could be easily patched. There is a good chance a few of these guys become legit starters as well.

Why 2016 would be bad…¬†

May the good lord forbid, but if Kershaw gets hurt. I mean I don’t even know what else to write. For any team if 22% of their budget was hurt early in the season for the whole season they would be easy choice as sunk. Same problem lies here. For the sake of the argument say the young three guys behind him hold up the pitching staff. Well it gets bad if Gonzalez and Granderson under perform. If Edwin Encarnacion goes missing, or worse, Machado has knee issues.

Why 2016 would be¬†good…¬†

Kershaw doesn’t even have to repeat 2015, just has to be close. Salazar, Stroman and Matz all get to 25+ starts as at least tier 2 guys. Machado remains awesome, the hitters all hit above their floors and this team should be pretty solid. The question marks are probably personal preference, but it is hard to argue against he value on almost all the buys. But it hinges on, well…

Where was the value at?

Immediately within the first hour of the auction¬†draft it was clear that value was not easy to find.¬†Prices of players were not¬†excruciatingly high or overspent. But, these prices were high enough to ensure that there was not large values at the top either. Shrewd drafting made Saturday’s event an interesting battle of attrition as the player pool continued to shrink. As the pool shrank there was a¬†seemingly never ending pile of teams with money looming over each auction.

Immediately, it looks like the teams that left money on the table are the most hurt. 50% of the league, 8-teams spent 100% of their budget. Leaving zero dollars left on the table. Of the remaining teams:

The Foundation – $1
Beach Bum – $5
Senior Squids – $6
TBD – $10
Preseason Favorite – $10
We Talk Fantasy Sports – $14
Capital City Ironmen – $21
The Wilfred Brimley Fighting Diabeetuses – $28

In some cases that unspent auction money being left on the table is not terribly frightening. But, at the bottom of that list, I can only imagine the day after regret. Good fantasy baseball talent auctioned off in that $10-$20 range. Even if you did not need a particular player, at least that drafted player has value. These extra auction dollars left unspent, are lost. They have no value.

Moving on to the auction money that got spent. More importantly how that money got spent. We can see how efficient teams were compared to this setting of the FanGraphs Auction Calculator. Keep in mind this calculator does not factor in our dynasty format (the hidden and unknown value of opportunity cost for keeping guys), nor does it fully understand our relievers scoring. But, for this exercise, and based on the results of the draft, it was quite accurate.

value

 

What you see above is the chart of how each of the teams did. Teams with positive values, overspent according to the FanGraphs calculator and the teams with negative values found bargains. The rank is from 1 “most efficient” to 16 “least efficient”.

Now before you go and say well done and patting yourself on the back, this is removing a lot of context away from the story. I believe you are sitting in a great place if you were most efficient with value, and you spent all of your auction budget. My team The Foundation finds itself there, so take that bias for what it is worth.

If you did not spend all of your auction money and you were not efficient in how you spent the money either, well you may have some extra work to do. Maybe your projections and targets are valued differently than how FanGraphs did and if so you’re probably okay! FanGraphs and projections are¬†wrong more often than not.

Going a step further, let us take a look at everyone’s “best value”. What you should see below is a table¬†that has the FanGraphs calculator value, how much they were paid for in the auction, and then the difference.

 

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The best value of the day was projections wonder-boy Wei-Yin Chen who was bought for $17, and had been projected to be worth $48. Chen’s¬†transition to the National¬†League, to the Marlins ballpark and being away from the American League East is likely positive.

It does seems like pitchers stole the value show:¬†Alex Wood, CJ Wilson, James Shields, Jeff Samardzija and Jimmy Nelson were their representative team’s best value and created over $20 in value per player. Outfielders might be the next undervalued commodity in the draft as you see Alex Gordon, Nick Markakis, Melky Cabrera, Josh Reddick and Khris Davis on the list above.

Finally, we also have a look at each team’s “worst” value. Now, I must warn you. If you’re the kind of guy who’s into the hot young star and cannot stand to see them in any negative light, please look away.

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Corey Seager, Addison Russell, Carlos Correa and Byron Buxton. Phew these¬†boys cost a pretty penny to claim. Trea Turner, Noah Syndergaard, Randal Grichuk¬†and¬†Jurickson Profar were all also coveted prospects¬†on draft day. None of those guys are terribly far off in lost value, they’re all capable of being worth what they’re paid. Plus we have discussed before about the opportunity cost of getting said players. There is value in these overspends. But, how much?