Moving the "immovable" contracts
October, 17, 2013
By Jim Bowden | ESPN Insider
In 2008, the Toronto Blue Jays shocked the baseball world when they signed outfielder Vernon Wells to a seven-year, $126 million deal. His career .319 OBP and a dismal 2009 season and perceived decline as well as a base salary that escalated to $21 million quickly made Wells’ contract such an albatross that no one thought Wells could ever be traded.
However, Wells actually was traded ... twice. First he was traded to the Los Angeles Angels in 2011 for Mike Napoli and Juan Rivera, then again this past March to the New York Yankees for minor leaguers.
There are two ways an "immovable" contract can be, well, moved. A team can do what the Angels did and assume a majority of the remaining salary; they paid $28.1 million to the Yankees, leaving just $12.9 million for the Yankees to pay in 2013 and 2014. Or a team can trade a bad contract for another bad contract, as the New York Mets and Angels did in 2001, when they swapped first baseman Mo Vaughn for right-hander Kevin Appier.
And swapping gargantuan contracts can sometimes benefit both teams. Such was the case in August 2012 when the Los Angeles Dodgers and Boston Red Sox made a blockbuster deal that transformed both clubs into legitimate World Series contenders. The Dodgers got the big-name player they wanted (Adrian Gonzalez) while the Red Sox got the financial freedom they needed to rebuild.
Also, when clubs don’t have trade chips in either their farm system or major league club, and don’t like the cost of the present free-agent market, they might take a chance on a bad contract because it’s the only way they can make their team better, just as the Yankees did with Wells.
So, teams can trade some "immovable" contracts. Let’s take a look at the present market for them. I’ve categorized them into somewhat likely and unlikely, as some have a better possibility of being moved than others, but no matter what it will take a couple of very motivated teams on both sides to get a deal done.