Philadelphia Phillies’ $85 Million Offer to Cole Hamels Last Year Is Small Now

Do you think Detroit Tigers general manager Dave Dombrowski is sitting in his office today, feet up on the desk, hands behind his head, smiling the smile of a man who knows how smart he was?

Seattle Mariners GM Jack Zduriencik might also be feeling some relief, perhaps staring out a window, appreciating the wonders of nature as he ponders how the universe worked in favor of him and his team.

(I’d paint the same image for former Los Angeles Angels GM Tony Reagins, but since he no longer holds that job, it doesn’t quite apply. Reagins may be feeling smart, but he’s probably not striking the pose of the contented man today.) 

Each of these men dodged a financial bullet, signing their aces before the development of a market for starting pitching that appears ready to explode after Matt Cain and the San Francisco Giants agreed to a six-year, $127.5 million contract. Or maybe these GMs just had the fortune of good timing.

Before the spring of 2010, Dombrowski and the Tigers signed Justin Verlander to a five-year, $80 million contract. He would’ve been eligible for free agency after last season.  

Just a few weeks earlier, Zduriencik and the Mariners locked up Felix Hernandez with a five-year, $78 million deal. The 2011 free agent market was deprived of yet another superstar pitcher.

Last August, Reagins and the Angels signed Jered Weaver to a five-year extension worth $85 million. Without the new deal, Weaver would’ve become a free agent following this season. It was the last big move—and probably his best one—for Reagins, who resigned last September. 

Those deals weren’t exactly bargains, of course. At the time, they were fair market contracts.

That market is what the Philadelphia Phillies had in mind toward the end of last season when they made a contract offer to Cole Hamels. According to CBSSports.com’s Jon Heyman, in fact, the Phillies offered the same deal the Angels gave to Weaver: Five years, $85 million. 

No one would’ve criticized Hamels for accepting the Phillies’ offer. As mentioned, that was the market for starting pitching at the time. Turning it down was a risk. But Hamels now looks pretty smart for declining and waiting for a better offer. 

As so many have pointed out in light of Cain’s contract, if he’s worth almost $130 million, what kind of a deal might Hamels receive? (That is, if he hasn’t already agreed to one. If so, Ruben Amaro might get to join the contented GM club.) 

The two sides don’t appear likely to agree on a new contract before opening day, though Hamels hasn’t set a deadline like Cain did. It’s just as well, because the bar for starting pitchers has been significantly raised. 

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