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After flaming out in New York, and being relatively snakebit by a small ballpark, the Cincinnati Reds signed Sonny Gray to a five-year deal worth $50.7 million as a 29-year-old. He rewarded them by making the all-star team during his first season and wound up finishing seventh in the Cy Young voting.
It was clear Gray wasn’t going to be a part of Cincinnati’s direction heading into 2022, and Minnesota swung a trade headlined by prospect Chase Petty. Rocco Baldelli needed all the help he could get with a rotation that heavily featured Dylan Bundy and Chris Archer, so it was Gray that led the group.
Fast-forward to where we are now, and Gray is again among the best pitchers in baseball. He owned a 2.89 ERA with a 2.85 FIP across his first 15 starts. Although run support hasn’t been there for him, his 9.1 K/9 is above his career average, and his 0.3 HR/9 is a career best that leads the league. His last two outings have not been good, but Minnesota is certainly hoping the rest of the season can revert to his pre-all-star form.
Having not signed an extension with the Twins, and barreling toward a postseason run, a relatively straightforward plan of action would be for Gray to walk during the offseason. The Twins have internal depth for the rotation with the likes of Joe Ryan, Chris Paddack, Bailey Ober, Louie Varland, Simeon Woods Richardson, and others. They will certainly look to add an arm or two, but Gray’s price tag and age could keep Minnesota from favoring a long-term deal.
It goes almost without saying that the Twins will offer Gray a Qualifying Offer. Should he return on a one-year deal around $20 million, the club would be ecstatic. If they net an additional draft pick out of it instead, and someone else pays him crazy money, so be it.
What do those dollars look like though? There is some good precedent from the 2023 offseason. Gray will be 34 next year and his performance puts him right in line with Chris Bassitt. Both Jameson Taillon and Taijuan Walker are younger, but neither had pitched quite as well. Gray doesn’t have the top end of Jacob deGrom or Carlos Rodon, but he doesn’t bring the injury history either. Looking over Tyler Anderson, a secondary comp could be in line with what the Rangers did for Nathan Eovaldi.
The Bassitt and Eovaldi deals were three and two years, respectively. The former got an average annual value of $21 million while the latter grabbed $17 million annually. Eovaldi has been a substantially better pitcher this year, and he could go down as one of the best signings from the offseason.
Gray’s representation will be looking for a multi-year deal, and targeting the Bassitt contract as a floor makes a good deal of sense. Teams could point to Evoaldi’s number as a starting point, but it will be hard to use that valuation given how vastly he has outperformed the deal in year one.
A downside for Gray’s tactics will be the talent competing for the same dollars as free agents. Shohei Ohtani is a unicorn and in a class of his own, but aging superstars like Max Scherzer and Clayton Kershaw are there. Marcus Stroman seems in line for a payday and Martin Perez has been solid for the Rangers. Aaron Nola and Blake Snell are both free agents, and so too are Lucas Giolito and Julio Urias.
Ultimately, it seems unlikely the Twins would want to go three years on a deal with Gray. The familiarity is there, and he has been great this season often pitching deeper into games while displaying enhanced stuff. Minnesota grabbing a younger arm or someone they believe could have untapped potential seems alluring, but playing more in the pond of a one or two-year pact seems like this organization’s sweet spot.
I’d expect Gray to want something like $75 million over three years as his last substantial payday. He may get slightly less than that, but his second half could definitely dictate the extent of his negotiations. Either way, it seems more likely than not that Sonny Gray returning to Minnesota for 2024 won’t be in the cards.
What do you think the current Twins starter gets on his next deal? What would you be comfortable with Minnesota offering him?
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- nclahammer and weitz41
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