This past winter, the Mets fired Omar Minaya after six seasons as the team’s general manager. And in recent weeks, the new front office did their best to rid themselves of Minaya’s stink.The Mets released Ollie Perez and Luis Castillo, two players signed by Minaya, despite still owing the pair a combined $18 million. It is safe to think that those two deals were a mistake when the current front office believes it is better to pay those players to not be on the team.
Minaya gave Perez a three-year, $36 million contract as a free agent following two seasons in which he went a combined 25-17 with a 3.91 ERA. But in the two seasons before being released, Perez tossed just 112.1 innings with a 6.81 ERA.
Meanwhile, Castillo received a four-year, $25 million deal prior to the 2008 season. In three years he hit .270 with a respectable .352 OBP. However, he dropped one very famous pop-up, and any hope of ever being accepted by Mets fans.
So how, do these contracts rank among Minaya’s deals as Mets’ GM? Let’s take a look at Minaya’s deals, and, how the players performed as compared to the money the Mets paid each…
Of these 10 deals, only Carlos Beltran has outperformed the money that he has taken in. In total, the players were overpaid by $143.0 million (through the 2010 season). That is an average of $37.2 million per player for about $22.9 million worth of production. An overpay of about 62.4 per cent.
It wasn’t all bad under Minaya. He actually did well with some of the lower-priced free agents like Fernando Tatis, and Jose Valentin, both of whom outperformed the value of their deals. But when it came to the big deals, Minaya always seemed to miss.
But the good news for the Mets is that Minaya is gone and a number of his bad contracts come off the books next season. (None of which are as bad as the Bobby Bonilla deal that will $1M a year for the next 25 years.) However, only time will tell if the Mets spend the savings on a new crop of players.
With the owners’ current financial woes, the new front office has a difficult task ahead. But before they move forward, they needed to take a step back. And cutting Minaya’s fat was a good start.
1 Wins Above Replacement: A look at how many wins a player contributed above a typical replacement-level player
2 What a player was worth to the team. Each Win (WAR) is worth ~$4M
3 The difference between a player’s salary and their WAR ($)
4 Santana was acquired via trade, however the deal was contingent on giving Santana a new contract
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