Alex Rodriguez’s contract is the first that pops to mind when you think of giant, regrettable albatrosses clogging MLB checkbooks. The third baseman-turned designated hitter entered this season owed a whopping $61 million over three years despite no guarantee of even making the Yankees’ roster.
So when Rodriguez got off to a nice start in 2015, the general feeling among Yankee fans was, “at least he’s doing something.” And I’m not sure that sentiment ever faded, even as A-Rod put up big numbers in May, June and July. The performance was good, but it was still seen in the context of that over-inflated contract.
But by some measures, the much-maligned slugger has been worth every penny in 2015.
According to research from Fangraphs’ Dave Cameron, a win above replacement cost about $7 million on the open market during the 2014 offseason (I couldn’t find a calculation for 2015). A-Rod is owed $21 million this season, which means, based on open-market value, he would have to provide the Yankees 3 wins to be worth his salary. Thus far, he has been worth 2.4 wins according to Fangraphs and 2.7 according to Baseball-Reference. Those figures put him on pace for 2.95 fWAR and 3.3 bWAR, essentially right on par with his salary’s value.
Put another way: If the Yankees had decided last November to release A-Rod, in order to get this level of production out of the DH spot, they would have had to spend about $21 million on the free-agent market, exactly what they’re paying A-Rod.
Obviously A-Rod hasn’t played up to his salary in several seasons, and it’s unlikely he will again next year or in 2017, but for now he’s worth his keep.
In fact, few players at Rodriguez’s pay grade have been better this season. Check out the list of Major-Leaguers making between $20 million and $23 million this year, per spotrac.com.
| Player | Salary | 2015 bWAR |
| Miguel Cabrera | $22 million | 5 |
| Adrian Gonzalez | $21.9 million | 4 |
| Alex Rodriguez | $21 million | 2.4 |
| Mark Buehrle | $20 million | 2.3 |
| Jon Lester | $20 million | 2 |
| Masahiro Tanaka | $22 million | 1.9 |
| Jacoby Ellsbury | $21.1 million | 1.5 |
| Joe Mauer | $23 million | 1.4 |
| Matt Kemp | $21.3 million | 1.2 |
| CC Sabathia | $23 million | 0.2 |
| David Wright | $20 million | 0.2 |
| Carl Crawford | $21.4 million | -0.3 |
| Matt Cain | $21.1 million | -0.8 |
| Jayson Werth | $21.6 million | -1.5 |
The obvious first thought in looking at this chart is that it seems no one should give out $20 million contracts to anyone but the most elite of the elite. But the next takeaway is that A-Rod provides more bang for his team’s buck than almost any other similarly expensive player.
The $3.5 million the Yankees paid out (to charity) when Rodriguez passed Willie Mays on the all-time home run list makes the calculation trickier. Then again, those bonuses were negotiated with the idea that the Yankees could market Rodriguez’s accomplishments; the fact that they didn’t even try to do so was their own fault.
The home run bonus doesn’t change the fundamental facts: A-Rod has been a very good player and has been paid like a very good player.
(Photo: Adam Hunger-USA Today Sports)