David Price agrees to 7-year, $217 million deal with Red Sox

While the Yankees preached they weren’t going to pass the $189 million payroll mark prior to the 2014 season, the Opening Day payroll that year was $197 million and by the end of the season the tab for the 40-man roster was $218 million. The Cardinals had previously explored trading for Price, and during that process learned of the lefty’s interest in pitching for them.

They were desperate, plain and simple. And generally speaking, that’s a wise business philosophy.

Free agent reliever Joba Chamberlain signed a minor-league contract with the Cleveland Indians. But there is a second truth that we as baseball observers and fans need to understand and even embrace: In baseball’s new world, where revenues are climbing and climbing, there is no such thing as a bad deal for the best player on the market.

Moreover, signing Price to $217 million, though experience in AL and signing Cueto or Zimmerman to figures around $120-140 million is equivalent risk due to Sox overpaying substantially for Price. But there’s no Sonny Gray here.

This also could have been a strategic move on the Red Sox part.

Everyone knows what happened next. A guy who can carry a staff and lead the rotation as the team’s “ace”. Much was made of the Cubs’ hopes of landing Price because he pitched for manager Joe Maddon with the Tampa Bay Rays.

Amazing, isn’t it, what a desperate owner will do? Against the Kansas City Royals in the 2015 ALCS, Price went 0-1 with a 5.40 ERA in two starts; not exactly numbers you want to see from your money ace pitcher, the same that is now making $31 million a season.

Now, Lester isn’t Price.

The Red Sox will be the third AL East team of his career.

And the difference between them sure as heck isn’t $82 million, which represents the gulf separating the Sox’ best offer to Lester from their winning bid for Price.

But recent history suggests that any player given an opt-out is nearly guaranteed to use it. CC Sabathia did so after signing a seven-year deal with the New York Yankees after 2008, and turned what would have been four years and $92 million remaining into a five-year deal worth $122. Having tried to sign Max Scherzer last season as a member of the Detroit Tigers, he knew exactly the kind of money it would take to get a superstar pitcher and he didn’t flinch. By signing an ace instead of trading for one, the Red Sox are able to keep the rest of their farm system intact while also keeping the top young players they have at the major league level (Xander Bogaerts, Mookie Betts, Jackie Bradley Jr., Blake Swihart).