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Archive for December 2nd, 2011

When Jonathan Papelbon signed a four-year, $50 million contract with the Phillies, the move was roundly criticized by those who habitually undervalue closers. However, because of his unique track record of excellence, I suggested Papelbon was the worth the premium. After seeing some of the contracts recently handed out to much lesser closers, that assessment appears to have been accurate.

Heath Bell is the latest closer to strike rich on the free agent market.

In one of the first real surprises of the offseason, the Marlins, whose payroll has average $54 million over the last three years, agreed to pay Heath Bell $9 million per season until 2014. Even though he has consistently ranked among the National League saves leaders since being installed as a closer in 2009, Bell doesn’t even come close to matching the peripheral performance of Papelbon, who is three years younger to boot. So, at face value, it seems as if the Marlins are guilty of excess as they plunge back into the free agent market after a long absence (and, if rumors are to be believed, Jeffrey Loria’s wallet could come out a few more times this winter).

Before the Marlins splurged on Bell, the Rangers signed Joe Nathan to a two-year deal worth $14.5 million. Once thought of as an elite closer, Nathan is now in the midst of battling back from Tommy John surgery. If he regains his form, the Rangers could have a bargain, but considering he will be 37 in 2012, it seems as if Texas has taken an expensive gamble.

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