Yoenis Cespedes has accepted a “significant” pay cut from the Mets ahead of the final year of his contract, per sources. The salary reduction is a direct result of the accident Cespedes suffered on his ranch back in May that led to multiple injuries.
Cespedes has agreed to amend and restructure his four-year, $110 million contract with the Mets. The 34-year-old slugger was owed $29.5 million before this restructuring and it is not yet clear how significant his cut will be.
The grievance settlement is expected to create a great deal of space in the Mets’ 2020 budget, and it further establishes the assumption that principal owner Fred Wilpon and COO Jeff Wilpon are doing whatever it takes to stay under the luxury tax. What the Wilpons will do with the millions of dollars netted from restructuring Cespedes’ contract is hard to predict, but it would be in the team’s best interest to spend it on immediate roster needs.
Cespedes remains under contract with the club through the 2020 season and this amendment is in no way a separation agreement, per sources. After missing the entire 2019 season, he will continue rehabbing with the intention of playing in 2020.
He took a “violent fall” on his Port St. Lucie ranch ‘La Potencia’ in May while he was recovering from double-heel surgery. He allegedly stepped in a hole and twisted his leg and foot into a “difficult position.” The accident led to multiple fractures in his right foot and ankle and he was immediately flown to New York to be evaluated at the Hospital for Special Surgery.
The exact details of Cespedes’ initial accident remain suspicious. Since the accident occurred on Cespedes’ ranch, there was speculation whether the outfielder had fallen off one of the many horses on his property. Though Mets GM Brodie Van Wagenen said a horse was not involved, further clarification on the accident was not given.
Now that the slugger agreed to significantly reduce the $29.5 million he was owed in 2020, the theory that he stepped into a hole is far less conceivable. To further muddle things, Cespedes constructed his original four-year contract with then-agent and now general manager Brodie Van Wagenen.
A video of Cespedes taking batting practice was recently posted on ex-Met Endy Chavez’s Instagram account. Van Wagenen said the injured slugger has been swinging the bat for several weeks, in addition to running and throwing. But whether or not the 34-year-old will able to recover in time for the 2020 season is in doubt.
Cespedes has not appeared in a Major League Baseball game since July 20, 2018. He underwent multiple surgeries to remove calcification in his bone spurs. Prior to the accident, the outfielder had avoided setbacks in his recovery from plantar fasciitis, an injury that had plagued him since the early months of 2018, and he was expected to return to the big leagues for at least a portion of the 2019 season.
The fact that Cespedes is willing to surrender a significant amount of money on his remaining contract indicates the slugger was found at fault in at least some aspect of his most recent injuries. Whether or not he successfully rehabs in time for the 2020 season, this grievance settlement should be (at least on paper) a win-win for the Mets.
The Wilpons, prepared to sell a majority of the team’s investment to hedge fund billionaire Steven Cohen in five years, are nearing the end of almost two decades of control. They own a win-now Mets team that has still not addressed a glaring deficiency in their current bullpen plan. Could Cespedes’ recovered contract money be used to fix it?
The Mets feel good about a potential six-man rotation after Van Wagenen signed starters Michael Wacha and Rick Porcello at this week’s Winter Meetings. But the GM indicated he’s being cautious about dipping his toes into the reliever market due to its volatility — especially after last year’s Edwin Diaz signing that caused more problems than results.
Perhaps the added space in the team’s 2020 budget will help alleviate some of those bullpen headaches by shopping more freely for depth. Since 2002, when Fred Wilpon became majority owner, the Mets have never gone over the luxury tax. First-time offenders receive very minimal penalties, but it appears the Mets are doing everything in their power to stay under it.
The millions of dollars recouped from the Cespedes grievance settlement may let the Wilpons stay under the luxury tax while also allowing them to sign someone like former Yankees right-hander Dellin Betances, a free agent who serves as one of the most successful relievers still available for the taking. No major league reliever has compiled more innings than Betances’ 373.1 during a half-decade run from 2014-18. The 31-year-old has a 2.21 ERA since 2014, and if the Mets decide to pursue him, they have competition from other reported suitors like Dodgers.