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The Red Sox and Jonathan Papelbon have come to terms on a one-year contract for 2010 that allows the sides to avoid an arbitration hearing, according to multiple sources. Gordon Edes of ESPN Boston was the first to report that Papelbon will make $9.35 million with the deal reaching as much as $9.5 million in incentives. The contract is the largest ever for a reliever with less than four years of service time and tops the Red Sox' arbitration offer of $8.45 million, but it still strikes me as a solid deal for the Red Sox front office. Papelbon asked for $10.25 million in arbitration and that seems like an attainable number when you realize that lesser closers like Francisco Cordero and Kerry Wood are making at least that much in 2010.
Beyond that, though, the move is a shrewd one because the Red Sox have avoided compromising their salary flexibility by sinking long-term dollars into a deal for Papelbon. There are those that would characterize such a decision as being overly thrifty, but the fact of the matter is that there haven't been a lot of long-term deals for closers that have worked out well for the teams that forked them over.
The Sox have worked hard on their player development system under Theo Epstein so that they can be nimble when it comes to building their roster. Sinking a lot of money into Papelbon, under the team's control through the 2011 season, might be the best way to do that or they might benefit more from moving him or letting him leave as a free agent. Daniel Bard throws hard and will be cheaper than Papelbon this time next year which might foreshadow where this winds up.
It's also a shrewd move by Papelbon. Young players who sign long-term deals almost always trade security for the chance to maximize their income. He seems to have a better understanding of this point than many of his peers.
"But what do I have to give up to be in that marriage?" Papelbon said. "Understand, I'm in the prime of my career. Why would I give up something? I'd give up something if it's fair to both sides, but I want to do things for my fellow closers, just like [Mariano Rivera] paved the way for me. I want every closer out there, man, to get every penny they deserve."
He'll still get a big deal if he stays healthy and performs. It might not be from the Red Sox, but you can hardly argue that either side of the equation isn't getting what they want out of the deal.
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