Sox are OUT on Teixeira

Breaking news today in the baseball off season hot stove. In the early evening, when I was at the airport, I received a text from my friend, Carpy, at http://carpyscorner.blogspot.com, "Theo and the Trio are flying to Texas to meet with (Mark) Teixeira and (his agent) Boras." As someone who has been following the Sox's pursuit of Teixeira religiously, I could not withhold my excitement. The idea of having Dustin Pedroia and Teixeira in the second and third spots of the line up has always intrigued me. I boarded my plane hoping that there would be some pleasant news waiting for me on the other side.

When I got home, I hear Gordon Edes on NESN reporting what Red Sox Owner, John Henry, had emailed several media members: "We met with Mr. Teixeira and were very much impressed with him. After hearing about his other offers, however, it seems clear that we are not going to be a factor." My initial reaction, like many Red Sox fans, was "wow."

I have said on several occasions that "if the Sox don't get Teixeira, the offseason is a failure." To an extent, I still feel that way, but considering the Sox reportedly offered him around $185 Million after initially starting around $160, I think it's the right call. The Red Sox are a big market team with money. However, what differentiates them from others is that while they will be a factor on most top free agents and players available through trades, the Red Sox front office sticks to their principles:

1. They refuse to overspend on players. If a guy is the best talent available, they will spend good money on him, but they won't break the bank. A fine example of this is JD Drew. The Red Sox gave him what to some looked like a bloated contract. However, he was the best available free agent. The Sox are willing to pay the premium on talent. This is the same deal with Teixeira. However, they put a value on that premium and are not willing to compromise their integrity in negotiations by breaking the bank.

2. They won't give long deals. You saw the front office's discomfort with Manny Ramirez's contract ever since they bought the team. The front office attempted to trade Manny almost every single year. The longer the contract, the further the risk. The Sox obviously are infatuated with Teixeira, and believe he is at an age where a long contract is acceptable, but they're not willing to go too long. Another John Henry quote: "The Red Sox effectively had a 10-year deal with a player determined not to live up to his contract. A lot can change over 10 years, for both sides."

When I look at the negotiations with Teixeira, I see these principles taking shape. I see the Red Sox being tempted by this very nice talent, but I recognize that sometimes you have to stick to your guns. If you break from your principles, you set precedent for future negotiations. If you give up anything more than you have to, it can and will bite you in the future. It's really a matter of weighing the short term with the long terms and costs and benefits.

I've really struggled with valuing Teixeira. As I called him before, he's a "nice talent." He's a very good hitter and a very good fielder. Offensively, his numbers aren't insane like an Alex Rodriguez, Albert Pujols, or even a Manny Ramirez. However, he is the best position player, who is gifted both offensively and defensively AND doesn't have a history of causing problems (Sorry Manny).

Honestly, I see him as an $18-20 MM player, but the big question for me is what is the premium that you are going to pay for him. Starting with what was speculated to be a $160 million contract, it was reported that the Sox were working on a 8 year/$185 million deal before things fell apart. This marked a total value of $25 million with an AAV of $3 million.

This proposal seemed reasonable to me. They made quite a leap from their initial offer, but they did not break the bank. However, once reports came that there was a $200 million offer, I can see why the Red Sox drew the line when Boras attempted to try and talk them up to that figure. $200 million would mark a 25% increase from their initial offer.

Some of you might think an extra $15 million, especially if you back load the contract, won't seem like that much. However, that will make those latter years even more burdensome, especially since near the tail end of the contract, Teixeira's skills may be diminishing. The overall contract would be cheaper for the Sox, but those last years would be burdensome both in taking a large chunk of the payroll and not getting value for money.

It still remains to be seen whether the Sox are completely out of the deal. However, it seems that right now, the Sox are not going to sign Mark Teixeira. It will be interesting to see what they accomplish, once they divert their attention to other pressing needs.