Red Sox shortstop Xander Bogaerts’ price rises with Manny Machado deal

With Manny Machado signing his 10-year, $300 Million deal on Tuesday, what could this mean for Xander Bogaerts and the Red Sox?

When news broke out that the San Diego Padres signed shortstop Manny Machado to a 10-year, $300 million deal, the thought of what this means to impending free agent shortstops came across everyone’s mind. Including Boston Red Sox shortstop Xander Bogaerts, who becomes a free agent after this season. How did Machado’s deal affect his, and many other players markets?

Bogaerts is an offensive weapon who is slowly becoming a premier defensive player. His growth and development have him playing to how highly touted he was as a prospect. He is a key piece to this Red Sox team over the past couple of seasons.

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He is a fan favorite among Red Sox Nation, and the owners alike. It was rumored that Tom Werner and company have engaged him and fellow free agent to be Chris Sale in extension talks. Which would be a good start in hopes of keeping the young core around as long as possible. They have noted that keeping the entire young core will be impossible, therefore prioritizing players by importance will be looked on heavily within the next two seasons.

Bogaerts is entering the prime of his career. He has been building up a reputation of amazing contact hitting while showing off a small sample of power last season by belting 23 home runs and driving in 103 RBI.  His projection should be growing as his career advances, barring any health issues.

The Red Sox need to work out an extension in order to have a better shot at keeping him on the roster. With the cost of players going to rise due to Machado’s contract, his agent will attack this and thus raise what he determines as fair value. With other key players becoming free agents in the next couple of years, the Red Sox only have so much money to give, while not being penalized like last year for the luxury tax.

The Cost

Before the Padres blew up the market values for players at the position, Bogaerts had a relatively similar market to that of Elvis Andrus. The 30-year-old signed an 8-year, $120 million contract before the 2015 season. The longtime Rangers infielder compares most to the skill set that Bogaerts currently possess.

Due to the amount that Machado signed for, it will raise the cost for a Bogaerts contract. This price tag could soar just within a couple of months, making it vital that the Red Sox sign Bogaerts to an extension quickly. I wouldn’t be surprised if the team inks the shortstop to a deal for around 8-year, $175 million. That would be over $21 million per season, a good amount for a developing player who still has plenty of time and room to grow.

While the world will have to wait and see how this affects the marketplace, one thing is for certain. Manny Machado’s contract will be the top of the line for the next wave of top free agents over the next couple of years. Until someone breaks the $300 million barrier, Machado is living large.