David Ortiz signs 2 year contract with the Red Sox for $26 million

Were the Red Sox smart to give David Ortiz $26M over 2 years?

11/5/12 in MLB   |   Pat   |   5232 respect

August 24, 2012; Boston, MA USA; Boston Red Sox designated hitter David Ortiz (34) prior to a game against the Kansas City Royals at Fenway Park. Mandatory Credit: Bob DeChiara-US PRESSWIRELast year, the Red Sox were rather adamant in their refusal to give David Ortiz a multi-year deal. He wanted at least 2 years, they wouldn't go more than one. They even gave him a far higher annual salary than expected, just because they felt so strongly about NOT giving him more than a single year.

Things have changed this year, apparently, as they've folded a bit and signed him to a 2 year deal worth $26M, before he even hit the free agent market.

Was this a smart move for the Sox? Gordon Edes seems to think so, and lays out a slew of facts to back it up.

Edes is right, on one hand. Ortiz will almost certainly be worth his contract, and play as well as any other $13M/year player in baseball.

Even if he starts declining this year and becomes almost useless next year, it still won't be a bad contract, all things considered. In his total time with the Red Sox, Ortiz has been a remarkable bargain.

The only problem is that the deal didn't have to be made so soon, and the Red Sox still could have saved a couple bucks if they let him hit the free agent market and said they'll match (or beat) any offer.

While Ortiz is certainly valuable to the Sox, his value would be far less anywhere else.

If they let him hit the free agent market, there is virtually no chance that anyone else would have offered him a comparable contract. The Sox might have been able to save a few bucks if they let him see that for himself. There really isn't a huge market out there for an aging DH who is completely useless in the field.

Still, he means a lot to the Red Sox, so perhaps the intangibles and the production will make it all worth it in the end.

What do you think... did the Red Sox make the right move, by giving Ortiz $26M over 2 years? Or did they overpay him?
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