Approximately $21 Million Down The Tubes

Oliver Perez

Oliver Perez: Hopefully Willing To Go To The Minors Now

As most everyone has heard, the Mets released both Luis Castillo and Oliver Perez this week, to nearly thunderous applause from Mets faithful. I too, am pleased that the team cut ties with both players – as these are the types of players unlikely to make a difference this year, and unlikely to help in the future. They would’ve just stopped us from playing younger, higher-upside players in their places.

Even if JUST this season were in question, I’d rather have Brad Emaus and Pedro Beato than Ollie and Luis.

Now, according to the invaluable Cot’s Baseball Contracts, the Mets have four outstanding salary obligations on the payroll for this year. This includes:

  • Oliver Perez – $12,000,000
  • Luis Castillo – $6,000,000
  • Ryota Igarashi – $1,750,000
  • Gary Mathews Jr. – $1,000,000

In addition to paying Bobby Bonilla to be retired, this gives the Mets somewhere north of 21 million dollars being spent on players not playing on our team. (Oh, and this doesn’t include money owed to Omar Minaya, either.) Obviously, this is a huge amount, and a tremendous disappointment.

Let’s say the Mets had those $21 million dollars back. What could they have spent it on? Here’s one set of options…one I like.

  • Use $12M to front-load Jose Reyes extension.
  • Save $5M to apply to Mike Pelfrey / Angel Pagan arbitration cases or extensions.
  • Save $4M to use in over-slot signing bonuses on 2011 ML draft talent

The Mets need to get younger, better, and more flexible. The best way to do this is not throwing 21 million dollars away. Too often, it seemed as if Omar Minaya was playing Keno with the Wilpon’s money, rather than investing it in mutual funds. I truly hope the new administration can turn things around.

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Filed under Brad Emaus, Luis Castillo, Oliver Perez, Pedro Beato

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