Joey Votto: Woah!

Normally it's Joey Lawrence that makes us go Woah! but this time it's Joey Votto and his 10 year $225 million contract extension. Woah!

Prince Fielder was a free agent this offseason and received a 10 year $214 million contract. Joey Votto isn't a free agent and he won't be next year OR the year after and received more than Prince Fielder. Generally when you sign a player to a contract extension, the pupose is to retain him at a value less than he would receive via free agency and it's clear that the Reds didn't achieve that with this extension. 

Now, there are several other factors at play here that have to be considered:

• The new Dodgers ownership has money to spend, and if Joey Votto hit free agency it's likely they would be a major, major player.
• The Reds are looking to increase the value of their franchise to be sold.
• The Reds are looking for a TV contract like the Angels and Rangers have received recently which has proven to be a big money maker.

All of those points are legitimate and were obviously considered by the Reds when they extended Votto, but still, this contract seems a bit risky. There is even some precedent for contracts like this not working out. Two years ago, with two years remaining on his contract, the Phillies signed 1B Ryan Howard to a 5 year $125 million extension. Joey Votto is a far superior player to Ryan Howard, but the point is that with two years remaining until free agency why invest millions upon millions of dollars in someone (at no discount) when they literally can't go anywhere and you hold the leverage?

Ryan Howard's extension kicks in this year, do you think the Phillies regret it? You betcha!

Does this mean the Reds will definitely regret extending Joey Votto? Not necessarily, but it's hard to imagine the timing of this deal benefiting the Reds. Prince Fielder received a 10 year $214 million deal when he was a 27 year old free agent. When Votto's 10 year $225 million extension kicks in he will be 30. Again, Votto is a better player than Prince is and will likely age better but the difference in their age when they will receive their mega-deals has to be considered, and it's not in the Reds favor. 

When the Tigers signed Prince Fielder most people thought it was an overpay, but it may end up being market value when you consider the othe contracts that have been handed out recently. 

Time will certainly tell if it works out for the Reds, but one thing is for sure - less players are becoming free agents. The Dodgers extended Matt Kemp, the Brewers have Ryan Braun locked up, the Rockies have Troy Tulowitzki and Carlos Gonzalez for the next several years, and now the Reds have Joey Votto. A few years ago teams got smart by buying out the first few years of their young players free agency at a below market rate. Now it has gone to the next level, where teams follow up on those with mega extensions for 10 years - only time will tell if it's smart.