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1998 Prospect Review

The method:

A prospects value to his team is almost entirely tied up in the value he provides over his first six years of service time. In theory, a player should be paid market value after six year. That's not always the case, but for purposes of this study, we'll assume that to be true.

I took the WARP1 from BP and put it into a formula very similar to MORP to come up with a $ amount for each season played. This helps account for the superstar premium. Negative WARP counts as $0. Then I take the net present value of all those years and rank the players. I used a 15% discount rate, but no season can be counted less than half. That might not be economically sound, but I think it helps us in reaching the desired result.

I go out to six years of service time, regardless of whether the player was traded,  released, or had a year or two of free agency bought out. Usually only a star or superstar will have years of free agency bought out at a discount. I did not count value returned in trades. This is another area where developing one superstar will net a bigger return than multiple above average players of "equal" value.

I did the best I could with service time, but it wasn't always easy to tell when the clock started.

To be eligible for the list a player had to rank in BA's top 100 in 1998 or play in full season ball. I'm sure I missed a few fringe players, but the top half of the list should be accurate.

The Results:

Helton, Berkman, and Halladay are no suprise. They were all top prospects. Helton was ranked #11 that year by BA and #4 with a straight A from John. Halladay was ranked #38 by BA heading into 1998 and would peak at #12 in 1999. Berkman was a 1998 draftee and ranked #64 by BA and would climb as high as #13 in 1999. All three are still superstars. Helton has a good chance at the Hall.

The first big suprise was Hidalgo at #4. Not only did I not think of his career worthy of a top 5 prospect, I thought of him as a minor bust. He is the epitome of why we like guys with tremendous ceilings. His 2000 season alone would have ranked him at #37 overall! He had another big season in 2003 surrounded by a bunch of mediocrity. He was ranked #19 heading into 1998 by BA.

The next group is Javier Vazquez and Freddy Garcia. These were your basic #1 starters that stayed healthy. As I would have expected, only four of the top 20 are pitchers. Neither of these guys were top prospects. Garcia ranked #64 in 1999, and Vazquez came completely out of nowhere.

Moving down the list, Chavez at #7 was already an elite prospect heading into 1998. Beltran was a toolsy outfielder in the low minors that ranked #93 in 1997 and #13 in 1999 but for some reason wasn't ranked in 1998.

Richie Sexson was a miss in 1998. He was a 22yo in AA that hit 31 bombs, was big, and didn't whiff too often at 18.8%. He was not ranked by BA and did not make John's top 50.

Kerry Wood probably had the best stuff on this list, but was undone by injuries.  He still had three star level years plus his 1998 rookie season to rank #13.

Adrian Beltre was a universal top 3 prospect. His phenomanal contract year in 2004 accounts for about half of his value. Another example of why we like the guys with superstar potential.

Rolondo Arrojo was #1 after 1998 and 1999. A good example of why we don't judge prospect lists after two years.

BA's #1 and John's #2, Ben Grieve comes in a #48. He was actually solid for the first four years of his career, but never a superstar.

David Ortiz comes in at #52. He had his biggest years after his service time was up.

Chad Hermansen was probably the biggest bust. He was ranked #13 by both BA and John and produced a whopping $116k in value.

 

Star-divide

1    Helton,Todd     $112,608,674
2    Berkman,Lance     $77,994,734
3    Halladay,Roy     $76,401,302
4    Hidalgo,Richard     $70,083,271
5    Garcia,Freddy     $68,780,473
6    Vazquez,Javier     $68,591,926
7    Chavez,Eric     $66,517,938
8    Beltran,Carlos     $61,223,809
9    Sexson,Richie     $61,145,562
10    Ordonez,Magglio     $60,482,214
11    Lowell,Mike     $58,774,619
12    Lee,Derrek     $58,349,695
13    Wood,Kerry     $56,103,980
14    Tejada,Miguel     $54,166,304
15    Kotsay,Mark     $53,829,886
16    Beltre,Adrian     $52,276,916
17    Glaus,Troy     $50,155,983
18    Jenkins,Geoff     $49,371,046
19    Polanco,Placido     $47,795,787
20    Cabrera,Orlando     $44,129,226
21    Arrojo,Rolando     $43,594,628
22    Washburn,Jarrod     $42,539,012
23    Milton,Eric     $42,203,161
24    Rollins,Jimmy     $40,773,128
25    Escobar,Kelvim     $39,513,804
26    Ponson,Sidney     $38,492,642
27    Casey,Sean     $35,661,946
28    Westbrook,Jake     $35,113,656
29    Lee,Carlos     $35,000,980
30    Arroyo,Bronson     $34,790,474
31    Johnson,Nick     $34,365,358
32    Guillen,Carlos     $33,629,040
33    Miller,Wade     $33,364,061
34    Cordero,Fransisco     $33,259,051
35    Wilson,Preston     $32,550,029
36    Millar,Kevin     $32,475,473
37    Belliard,Ron     $30,974,678
38    Lee,Travis     $30,854,392
39    Hernandez,Ramon     $30,566,403
40    Pavano,Carl     $30,406,913
41    Clement,Matt     $29,146,687
42    Hunter,Torii     $28,237,106
43    Konerko,Paul     $27,486,714
44    Wells,Vernon     $26,907,197
45    Ramirez,Aramis     $26,621,123
46    Benson,Kris     $26,432,189
47    Pierzynski,A.J.     $26,181,455
48    Grieve,Ben     $23,267,964
49    Penny,Brad     $23,029,868
50    Looper,Braden     $20,746,296
51    Encarnacion,Juan     $20,724,332
52    Ortiz,David     $20,355,186
53    Chacon,Shawn     $19,146,503
54    Armas,Tony     $18,319,739
55    Eaton,Adam     $17,983,174
56    Dempster,Ryan     $17,977,558
57    Chen,Bruce     $17,603,692
58    Yan,Esteban     $17,359,206
59    Jackson,Damian     $17,042,937
60    Jimenez,D'Angelo     $16,636,732
61    Elarton,Scott     $16,187,352
62    Ortiz,Ramon     $16,119,475
63    Meche,Gil     $16,026,340
64    Crede,Joe     $15,797,736
65    Julio,Jorge     $15,617,078
66    Linebrink,Scott     $15,557,477
67    Parque,Jim     $15,356,651
68    Riske,David     $15,030,378
69    Towers,Josh     $14,662,364
70    Marquiss,Jason     $14,084,223
71    Duchscherer,Jusitn     $13,534,798
72    Wilson,Craig     $13,036,028
73    Marrero,Eli     $12,699,582
74    Reitsma,Chris     $12,687,744
75    Barrett,Michael     $12,539,023
76    Rivera,Ruben     $12,264,953
77    Fullmer,Brad     $12,024,056
78    Cora,Alex     $11,428,672
79    Feliz,Pedro     $11,202,686
80    Ankiel,Rick     $10,193,421
81    Guzman,Christian     $9,920,307
82    Torrealba,Yorvit     $9,686,468
83    Estallella,Bobby     $9,514,792
84    Davis,Ben     $9,258,840
85    Gregg,Kevin     $9,105,520
86    Gonzalez,Alex (fla)     $8,725,805
87    Patterson,John     $7,915,028
88    Carter,Quincy     $7,776,570
89    Sanchez,Alex     $7,312,271
90    Scutaro,Marcus     $6,972,591
91    Anderson,Matt     $6,964,172
92    Meadows,Brian     $6,953,554
93    Durbin,Chad     $6,638,027
94    Anderson,Jimmy     $6,627,018
95    Branyan,Russell     $6,486,093
96    Valentien,Javier     $6,349,108
97    Reyes,Dennis     $6,172,901
98    Rose,Brian     $5,958,017
99    Dunwoody,Todd     $5,877,961
100    Giambi,Jeremy     $5,525,396

0 recs  |  Comment 12 comments

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KC
Was all set to take Berkman until ownership stepped in...
Rowdy Hardy Fan Club member.

by doublestix on Feb 7, 2008 1:36 PM EST reply actions   0 recs

awesome work
not many replies for so much work. The title is not that sexy I guess. Maybe you should edit the title to something like, Awesome study I did hours of work on!

If you could give one example of how you came up with the values in dollars I would really appreciate it. If you could do Berkman that would be great.

Thanks,
Shamus

My first mistake was assuming you knew what I was talking about.

by Shamus on Feb 7, 2008 10:04 PM EST reply actions   0 recs

+1
This is a very interesting list. Like most, including the original poster, it is surprising how high Hidalgo ranks on this list. I just went and looked and his career stats, and it's strange that he flamed out so quickly.

He never struck out an ungodly amount. Only three times in his career did he have over 100Ks, and those are three of his best seasons. He walked a fair amount (just over 2 strikeouts per walk over his career). It almost seems like he just kept hitting them where the defenders were. I didn't get to see a lot of him in his prime with Houston, maybe some Astros fans can help. Did he just lose enough of his power and start flying out a lot? What happened with him? He hit a decent amount of HRs, but his BA sucked after 2003.

"My mom always taught me it's better to laugh at yourself than to laugh at others. She was so wrong. ;)" -Pedrophile

by Boxkutter on Feb 8, 2008 9:24 AM EST up reply actions   0 recs

Not Much to Argue
Now, if I were to release my positional rankings and everybody saw Jed Lowrie as the #7 shortstop, there would be plenty of replies:)

by rwperu34 on Feb 8, 2008 10:57 AM EST up reply actions   0 recs

Hidalgo did get shot in Ven
I don't know if that had anything to do with it but it couldn't have helped him.

He was carjacked and shot in the forearm in 2003 or early 2004.

I remember that even in his last year with the Astros he started the year off on fire. He was hitting for avg and tons of RBIs. Then he just stopped hitting. The Astros lost complete faith in him and he was gone that same year for nothing. It was so strange. Less than a year after hitting 309-28-88 his career was sputtering.

Him at #4 is funnny considering he had less than 3500 career ABs

My first mistake was assuming you knew what I was talking about.

by Shamus on Feb 8, 2008 11:16 AM EST up reply actions   0 recs

a guess
age and steroids?

by ScottAZ on Feb 8, 2008 12:59 PM EST up reply actions   0 recs

also
After being out of baseball for most of 06 he came to camp with the astros last year. He basically got a full trial 44ABs, and his OPS was 397.

Another thing people forget is that Hidalgo was a good defender with an arm as good as any in the league in RF today.

My first mistake was assuming you knew what I was talking about.

by Shamus on Feb 8, 2008 1:25 PM EST up reply actions   0 recs

hidalgo
man did he flame out fast, anyone know what hes doin now?

by obiwan12 on Feb 7, 2008 11:34 PM EST reply actions   0 recs

Berkman
Year, Warp, MORP in Millions
1998, 0.0, $0
1999, 0.3, $0.4
2000, 3.2, $5.3
2001, 10.5, $43.3
2002, 6.9, $20.1
2003, 7.3, $22.2
2004, 8.7, $30.6
2005, 5.9, $15.2

That's a total of $136,966,289. Discounting future years from 1998 puts him at $77,994,734.

This would be a good place to note that these are 2008 dollars, not 1998.

by rwperu34 on Feb 8, 2008 10:55 AM EST reply actions   0 recs

thanks
I can see that the greater the Warp gets the dollars for each WIN get higher exponentially. Is this a formula you developed? I don't know if you were willing to share it. If you are I would love to see it. If you can could you e-mail it to me. My e-mail is in my profile.

Thanks,
Shamus

And great work.

My first mistake was assuming you knew what I was talking about.

by Shamus on Feb 8, 2008 1:20 PM EST up reply actions   0 recs

MORP
I did not develop this formula. It was developed by Nate Silver over at BP. MORP is the $ amount used on the PECOTA cards. I made some  adjustments to get it in line with 2008 dollars, so my formula does not line up exactly with PECOTA.

Here is the link where he goes over the MORP formula and explains a little why one 6.0 win player is worth more than two 3.0 win players.

http://www.baseballprospectus.com/article.php?articleid=4535

by rwperu34 on Feb 8, 2008 3:41 PM EST up reply actions   0 recs

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