In an age where franchise values are skyrocketing, television contracts are doing the same and player deals rise in worth every winter, Major League Baseball is the one North American professional sports league constantly having its finances evaluated and booming payrolls criticized.
Yet, since baseball is the one sport without a salary cap, the teams are free to spend as their owners see fit. However, this also makes the bargain player—great production on the cheap—so much more valuable. Time and again, franchises that wisely utilize resources—both players and money—have found regular-season success, which is what they can most control since postseason results hinge a fair amount on small-sample-size luck.
Teams that get great value on one contract can spend more on other needs, improving their chances to win. It’s simple, really. And it is why Bleacher Report is taking a look at the best bargains in baseball by putting together MLB's All-Value Contract Team as this season enters its stretch run into randomness.
Using advanced statistics like weighted runs created plus (wRC+) from FanGraphs and adjusted OPS (OPS+) and adjusted ERA (ERA+) from Baseball-Reference, along with FanGraphs WAR (fWAR), we will gauge production. All stats are through Sunday.
And using Cot's Baseball Contracts, we will measure value in current salaries. Rookie contracts are exempt from the list as those deals are not based on production, but arbitration-eligible players are in play. Also, to ensure we find the best values in the outfield, we will designate those players simply as outfielders and not by specific positions, much like the All-Star Game does.
It's time to start counting pennies…
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