Major League Baseball

MLB teams spend at pre-recession levels

Published Dec. 22, 2010 12:00 a.m. ET

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If you're looking for a business that believes an economic recovery is well under way, look no further than Major League Baseball.

After a major pullback in spending on free agents last winter, MLB teams have again opened up their bank accounts, and they're spending money in ways not seen in five years.

Through Monday, 69 free agents had signed major league contracts this offseason, and the total value of those deals was $1.01 billion. That's already an 18 percent increase in total spending over what was handed out last winter despite 52 fewer players having signed contracts.

As remaining free agents — such as Adrian Beltre, Rafael Soriano, and Carl Pavano — come to terms over the next few weeks, that gap will only increase.

The last time big-league teams were this comfortable handing out big-money, long-term contracts was 2006-07, when 138 players were guaranteed $1.66 billion in future commitments.

Unfortunately for those teams that aimed to rebuild through free agency, it hasn't really worked out so far. Among those who racked up the big bucks that winter: Barry Zito, Alfonso Soriano, and Carlos Lee, who signed deals worth at least $100 million in total and have been disappointments.

Even the middle-class free agents that year offer a strong warning to teams that now have money. Gary Matthews Jr., Juan Pierre, Jeff Suppan, Julio Lugo and Kei Igawa all were given deals of four years or longer for significant money, but none were able to justify their contracts.

Big spending doesn't guarantee big output, and now fans in Washington, Boston and Philadelphia must hope that history doesn't repeat.

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