Marlins Win Christmas Day Extension

Ricky Nolasco was headed into this third arbitration season after achieving Super 2 status in 2009. That is no longer his concern after inking a three-year contract with the Florida Marlins. Per MLB.com, the terms of the deal call for $6 million in 2011, $9 million for ’12 and $11.5 million for ’13. There is also an innings bonus of up to a half million per season. He was under team control for 2011 and 2012 before being free agent eligible. The general model is that arbitration-eligible players are expected to earn around 40% of their free agent market value in their first year, 60% in their second and 80% in their third and final year of arbitration. Super 2s complicate that, but with the base salaries listed it is clear that Nolasco will be underpaid. If you figure $11.5 million as the free agent base value, then Nolasco is getting 52% for his third year of arbitration and 78% in his fourth. On top of that, $11.5 million is paying Nolasco as if he’s approximately a 2....