Jump to content

Providing independent coverage of the Minnesota Twins.

The Forums

Fun with numbers: 2016 edition

Minnesota Twins Talk Today, 12:23 AM
The Twins are on pace for 1,620 strike outs as a team.The record is 1,535 set by the Astros in 2013
Full topic ›

Article: Game Thread: Twins @ White Sox, 10/1/16 @ 6:10 p...

Minnesota Twins Talk Yesterday, 11:57 PM
So, with the Twins sporting 103 losses, I was thinking about the number 103.   -103 is the 27th prime number,and each team gets 27 o...
Full topic ›

Complete Games

Other Baseball Yesterday, 11:31 PM
So we're rumbling along at 82 CG in all of MLB this year.   Here are some of the excuses I've heard over the past x amount of years...
Full topic ›

Article: Seth's Preliminary Top 50 Twins Prospects: P...

Twins Minor League Talk Yesterday, 11:03 PM
After posting Part 1 and Part 2over the last couple of days, predictably, today I am going to post Part 3 of my personal (preliminary) To...
Full topic ›

Article: Can Falvey Learn Anything From the Cubs' Tur...

Minnesota Twins Talk Yesterday, 11:03 PM
With the Twins expected to officially announce the hiring of Derek Falvey as President of Baseball Opportunities any day now, I thought i...
Full topic ›
Subscribe to Twins Daily Email

From MinnCentric


Twins Blogosphere


Glen Perkins Signs Extension With Twins

Attached Image: Perkins_Glenn_High5_US_600.jpg Contract extensions are usually popular with fan bases, which is not the norm for financial transactions. It’s easy to see why – all the ingredients are there. People love to emotionally project a popular and productive player to be popular and productive for years. An extension does that, provided you don’t think too hard about the financial side of it. That’s the actuarial department's job.

All the ingredients are also certainly there for the contract extension Glen Perkins signed with the Twins. Perkins has been awesome since moving to the bullpen, including being named an All-Star last year. He’s a hometown guy and media and fan-friendly. As Twins Assistant GM Rob Antony said, “I think there's a premium value for a closer that's 31, that's done a pretty good job for us, that fits in very well in this clubhouse, and means a lot to this team.” With that background, why wouldn’t a deal get done?

The more interesting question for both sides might why a deal did get done, considering Perkins was already under team control for the next three years at a bargain rate. Here are how the deals compare:

Attached Image: Perkins_Deal.jpg

Perkins
The deal gives Perkins a raise over what he would make the next couple of years and guarantees another $14M in future earnings. It costs him a chance to hit the free agent market in 2017, when he might have made almost twice as much as he will get paid over the last two years. Of course, he would have been be 34 at that point. The security was worth the big payday. That’s why Perkins approached the Twins about the deal.

There is also an interesting provision that gives a subtle nudge to the Twins to NOT trade him. If he is traded, that option year changes from a team option to a player option. That makes him not quite the tradeable asset that he would be otherwise.

Twins
The Twins take on the risk of a 31-year-old getting hurt and being on the hook for another $14M. But the savings they could reap if he stays healthy are considerable. You’ll recall that as Joe Nathan approached free agency, the Twins signed him to a four-year deal that paid him $11.25 million starting when he turned 34 through turning 36. (That didn’t turn out so well.) This five-year deal tops out at about half that much money and ends when Perkins is 35.

It also keeps Perkins anchoring a bullpen in those years when the Twins believe they’ll return to being competitive. “We believe that he’s going to be part of turning this thing around,” said Antony.

Sweet Spot
It is somewhat unusual for a team that already has a good contract to risk an extension. It’s also unusual for a premier player to seek one out. Perhaps in this case, the hometown ties played a part in overcoming those traditional obstacles. Antony concluded, “We know that this contract, [Perkins] signed, because he wants to be in Minnesota. We signed because we want to keep him here.” Together they found a deal that the team, the players, the fans and even the actuarial department can support.


  • Share:
  • submit to reddit
Subscribe to Twins Daily Email

0 Comments