Red Sox Rumors: J.D. Martinez hasn’t been offered a new deal

The Boston Red Sox reportedly met with representatives for J.D. Martinez but a new contract isn’t on the table if he opts out.

MLB will crown a new World Champion within the next two nights, at which point the clock begins ticking for J.D. Martinez. The veteran slugger must decide if he’ll opt-out of his current deal with the Boston Red Sox within five days of the conclusion of the World Series.

If Martinez doesn’t opt-out, he’ll be owed $62.5 million over the next three years with the ability to opt-out after the 2020 or 2021 seasons. If the 32-year old designated hitter believes he’s worth more than that on the open market then he’ll take his chances in free agency.

The Red Sox are well aware that this deadline is approaching but they don’t seem inclined to take any action toward tempting him to stay. According to WEEI’s Rob Bradford, Red Sox chairman Tom Werner has met with Martinez’s agent but a new offer hasn’t been extended.

This doesn’t mean that a new deal can’t be hashed out during the five-day waiting period where the Red Sox have exclusive access to negotiate with Martinez. Chaim Bloom has barely had the chance to settle in as the new Chief Baseball Officer. Perhaps ownership was in no rush to engage Martinez about a new deal until Bloom could be involved in the discussion.

That doesn’t appear to be the case though. Owner John Henry told the media “It hasn’t changed” in response to questions about Martinez’s contract situation. This could simply mean that the team can’t comment on any changes without knowing if Martinez intends to opt-out. It could also be interpreted as ownership’s stance hasn’t changed on what they believe the All-Star is worth. They’ll honor the existing contract if he decides to stay but may be content to let him leave if he demands more money.

It’s no secret that the Red Sox have a goal of slashing payroll to dip below the $208 million luxury tax threshold. Letting Martinez and his $22 million average annual salary walk away would give them some breathing room to fill out the roster while staying under the tax line.

Losing his bat would leave a gaping hole in the middle of the lineup though. The emerge of Xander Bogaerts and Rafael Devers mitigates the loss, preventing the power outage the team suffered in the wake of David Ortiz‘s retirement that necessitated the Martinez signing to begin with. You can also argue that spending $22+ million on a DH isn’t the most efficient way to manage the team’s budget. Fair points, but the Red Sox are undoubtedly a better team with Martinez and his absence would have a trickle-down effect on the rest of the lineup.

Martinez has hit .317/.392/.593 with 79  home runs and 235 RBI in two seasons with the Red Sox. They can’t replace that type of production.

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The ideal scenario would be restructuring the deal to offer Martinez additional years while reducing the average annual value, which is what matters for luxury tax purposes. Martinez would lock in more guaranteed money deeper into his career while the Red Sox would inch closer to getting under the tax.  A five-year, $90 million deal shaves about $4 million off next year’s budget for tax purposes.

Would Martinez be open to that type of offer? It’s better than what he’s likely to make if he finishes out the final three years of his existing deal before hitting free agency as a 35-year old. With teams like the Chicago White Sox rumored to have an interest and the New York Yankees lurking as a nightmare scenario, Martinez may be inclined to enter free agency in order to allow those teams to drive up the price.

The Red Sox will almost certainly let him leave if the average annual value tops what he would make by sticking with his existing deal. They are deadset on trimming their 2020 budget, not expanding it.

There’s still time for Bloom to find a solution that keeps Martinez in a Red Sox uniform if he views him as a key part of the club’s future but ownership’s apparent lack of urgency to work out a new deal can’t be viewed as a great sign that Martinez will remain in Boston.