Late Innings

Red Sox closer Jonathan Papelbon is best known for wanting to go year-to-year during his three arbitration years, which start in 2009. He’s also made it known that he wants to set the salary “standard” for closers. If going by today’s numbers, the highest total years for a closer went to B.J. Ryan (five years.) Total compensation? Both Ryan and Joe Nathan received 47MM in their deals. Highest average salary? That’s held by Mariano Rivera, who makes on average of 15MM per year on his contract signed before last season.

Papelbon presumably wants to exceed the numbers given above on all fronts, however the one thing to note: the demand for closers fell from last summer just as sharply as the demand for oil did. Tell this to Francisco Rodriguez, the Angels free agent closer who saved 62 games last year. He wanted 75MM over five years, and he’ll now get 37MM over three from the Mets. That’s less than the 37.5MM that Brad Lidge got from the Phillies earlier this year.

Kerry Wood is also expected to sign a modest deal with the Indians as well, only for two years. So it’s clear that the market is down for closers now, and if you were Jonathan Papelbon, what would you do? If Theo Epstein came to you with a four year deal for 28MM, would you accept? Keep in mind a four year deal would buy out his three arbitration years…