Red Sox fans need not worry about tomorrow. Ticket prices won't drop a nickel because Jacoby Ellsbury (a.k.a. The Ellsbury Dough Boy) departs for literally greener pastures.
He is no more a traitor or mercenary than the next guy, just the beneficiary of a 'monopoly money' era where too many dollars are chasing too little talent. He is no more a 32 homer, 70 stolen base guy than you or I, but he is an excellent (but historically oft-injured) player cashing in at the right time.
In an era where we worship statistics, we also celebrate both cash flow and capital allocation. The Yankees have the cash flow with both expensive ticket revenue and lucrative media packages, and we can only wonder how the deployment of 153 million dollars (plus possible luxury tax considerations) pays them back over the life of the contract.
In "The Winner's Curse" economist Richard Thaler writes the following, The winner will be the person who was the most optimistic about the amount of oil in the ground, and that person may well have bid more than the land is worth. This is the dreaded winnerís curse. In an auction with many bidders, the winning bidder is often a loser. A key factor in avoiding the winnerís curse is bidding more conservatively when there are more bidders. While this may seem counter-intuitive, it is the rational thing to doÖ"
To carry Thaler's observations further, all one need do is consider how baseball's mega-contracts are playing out, whether they be Albert Pujols, Josh Hamilton, and Alex Rodriquez, or those closer to home - Carl Crawford, Adrian Gonzalez, Josh Beckett, Daisuke Matsuzaka, and John Lackey. You don't need to be a Sabermetrician to do your back-of-the-envelope calculations on WAR or Win Shares to know that the best deal the Red Sox made was restructuring through addition by subtracting debt. Current Sox policy of fewer years at higher AAV at least allows mistakes to expire quickly, while the development system gets maximal attention. After all, it is the talented player under control at low cost that is the undervalued asset in John Henry's commodity-oriented world.
We shouldn't fault Jacoby Ellsbury for taking the money, any more than we applaud the Red Sox for learning from their mistakes. If Ellsbury had stayed for less money, we'd probably be wondering how badly we had misjudged who we THOUGHT he was, because we never really got to know him (not that we are entitled to).
Pablo Picasso said, "good artists borrow, great artists steal." Ellsbury has shown great capacity to steal, and many of us are asking whether this is his greatest theft ever.
"In a Menís Journal survey of 100 Major League Baseball players, White Sox catcher A.J. Pierzynski was voted 'most hated player' with 34% of the votes. 'He likes to talk a lot of sh**, and Iíve heard heís a bad teammate,' one National League pitcher tells Menís Journal. 'Heís been a prick to guys on his own pitching staff. Basically, if you havenít got five years in the big leagues, he treats you like youíre a peasant. Heís that kind of guy.'" --2012 Men's Journal survey
"I don't know what people expect me to be like. I think the media can decide you're either a bad guy or a good guy, and they can keep pounding it until everyone thinks it's true. I get tired of the crap. Every day you read the newspaper, you have to hope that somebody didn't say something or write something that'll make you have to defend yourself." -- A.J. Pierzynski to ESPN the Magazine
"Bosch is a guy from Miami and it was nutrition and it was weight loss. I traveled the world to see doctors with cutting-edge stuff and it was always within the parameters of Major League Baseball." -- Alex Rodriguez ... telling it like it is with a not-so-straight face
ďThe news report about a purported relationship between Alex Rodriguez and Anthony Bosch are not true. Alex Rodriguez was not Mr. Boschís patient, he was never treated by him and he was never advised by him. The purported documents referenced in the story -- at least as they relate to Alex Rodriguez -- are not legitimate.Ē -- Citrik and company incorporated in a statement for their new client Alex Rodriguez back in January
A-Look at A-Rod's Outburst...
He Screams and Shouts and Lets It All Out
There's No Crying In Grievance Hearings!
(BDD Photo Illustration / Rich Hinds)
Liar, Liar Part Deux
(BDD Photo Illustration)
A-Roid's Sellin' Us That He's Innocent... Again
But We've Heard His Denials Before