Each week this Hot Stove season, we’ll look at some done deals and juicy rumors involving our favorite MLB hotties. If you want a comprehensive rundown of rumors, go to MLBTR. If you want the pretty, stay right here!
Lame! Nothing really happened in Hot Stoveland this week. The biggest story was actually one that didn’t happen – someone reported that the Giants signed Edgar Renteria, and it turned out to be untrue.
Hopefully the Stove will get a little hotter again this week, with the deadline for teams offering arbitration tonight. Arbitration is kind of tricky, so here’s how it works. (Sources: My brain, and this)
- When a player reaches 3 years of MLB service time, he becomes arbitration-eligible.
- At the end of the season, the arb-eligible player and his team each draw up what they think is a fair contract for the next year. They do this by finding what they think are the most comparable players, and what their contracts are like.
- The player and his team’s front office sit down with a 3rd-party arbitrator who decides which contract is most fair. The arbitrator is not allowed to choose anything besides the two options given to him.
- Often, teams will be ready to part with an arb-eligible player, but will offer him arbitration anyway…If a player is a Type A or Type B free agent, and declines arbitration from his team, the team will get a compensatory pick(s) in the next year’s draft. On the flip-side, if he accepts the offer, the team is stuck with him whether they still want him or not.
Lastly, holy crap! It’s December!
UPDATE: Here’s a big ole rundown of arbitration rumors.