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January 12, 2011
Last week the Nationals signed Adam LaRoche to fill their vacancy at first base after Adam Dunn signed with the Chicago White Sox several weeks back. LaRoche received a two-year deal with an option for a 3rd season: the breakdown of the contract is he will make $15 million in the first two years, $7 million in 2011 and $8 million in 2012. He and the Nationals have a mutual option for $10 million in 2013. The Nationals could, and most likely will, buy him out for $1 million instead after 2012. LaRoche is guaranteed to make $16 million in 2011 and 2012 ($15 million salary plus $1 million buyout), with the chance he receives $25 million in 2011-2013.
LaRoche is a very consistent major league average first baseman. This left handed batter will hit somewhere between .260-.275 with 20-25 Home Runs, and 80-100 RBI per season. He is also a solid to above average defensive player and from most accounts, a great teammate. LaRoche is also a streaky hitter with the tendency to hit much better in the second half of the season: 252/.327/.449 before the all-star break and .295/.354/.535 after the break. For his seven year career, he has a .271/.339/.488, which makes him a solid major leaguer. But at first base, unfortunately he is also the type of player a team is always looking to upgrade from, which explains why he is now on his fifth major league team. His left handed bat will likely slot 5th in the Nationals lineup this season, complimenting the right handed bats of Ryan Zimmerman and Jayson Werth and Adam should produce comparable numbers to what Josh Willingham has done in the same spot the past two seasons.
What is puzzling and controversial about this acquisition is not the player, who is likely a solid fit, it is the contract, specifically the guaranteed two years with the chance of a third season, and to a lesser extent, the amount per season. With most of the other teams settled at first base, it seems as though the Nationals were bidding against themselves by giving the player a second year. His peers in this years free agent class Carlos Pena (1 year for $10 million from the Cubs), Derrek Lee (1 year for $7.25 million from Baltimore), Lance Berkman (1 year for $8 million) , and Brad Hawpe (1 year for $3 million), amongst others, were already off the market and should have given the Nationals the parameters of a deal with LaRoche. While they did not have particularly good options if LaRoche found another suitor (Russell Branyan and Casey Kotchman come to mind), I think LaRoche would have ultimately found the Nationals were his best, if not only option. In general, I think the Nationals made an unwise decision to give in and agree to a 2nd guaranteed season and such a high annual dollar amount. A contract more similar to Derrek Lee with the Orioles would have been appropriate.
While I am a big Adam LaRoche fan because of his consistency and defense, the Nationals signed him for too many years and for too many dollars with this contract. I know the organization had a huge hole at 1B after Dunn’s departure (and without someone ready to step in at AAA) but I cannot think of another team that needed a first baseman and certainly not one willing to give him two guaranteed years at $7.5 million per season with a $10 million dollar 3rd year option. The bottom line is the team overbid for a mediocre to solid player, which is always a bad recipe for success. Good player, bad contract.
Overall Grade: C-