Red Sox executives gathered with supporters and the press for their yearly Winter Weekend celebrations. CEO Sam Kennedy spoke with reporters just prior to tonight’s event.
Kennedy’s statement that the club’s 2024 salary “probably will be lower than it was in 2023” is particularly noteworthy (source via Chris Cotillo of MassLive). Although he clarified that it was not a promise, this is the most recent indication from Boston authorities that they do not expect another significant strike this offseason. Similar hints were made earlier in the week by Chairman Tom Werner, who later withdrew his early-offseason declaration that the team would play “full throttle” this winter.
Boston’s estimated compensation isn’t that different from Opening Day of the previous year, when looking at raw payroll. Roster Resource estimates that the club will spend $178 million on players. Cot’s Baseball Contracts states that the Sox’s salary was just over $181 million at the beginning of the previous season. But there’s a big difference in the team’s luxury tax figures. The Sox are expected by Roster Resource to have a CBT figure in the $198MM level this season; a season ago, Cot’s had a tax amount that was getting close to $226MM.
Since both are below the base level, the difference is not very great. The CBT markers for this year start at $237MM. At least in the winter, Boston isn’t even close to that mark, and it doesn’t seem like they’re really interested in getting there. In-season purchases count against the competitive balance tax amount (though they are subject to prorated compensation at that point), as it is settled at year’s end.
In 2022, Boston just avoided paying the luxury tax. They ended up finishing last in the AL East, so that backfired. Although remaining over the threshold decreased their draft compensation for the losses of Xander Bogaerts and Nathan Eovaldi in free agency, the actual tax payment—roughly $1.2MM—was negligible. The Sox finished 78-84 last year, their second consecutive season in last place, after breaking below the line.
Due to that unsatisfactory performance, ownership fired Chaim Bloom. Craig Breslow was chosen to oversee baseball operations. So far, the chief baseball officer, who is in his first year, has taken things slowly. Lucas Giolito signed a two-year, $38.5MM rebound deal, which was their lone notable free agency signing. In trade for Tyler O’Neill, Boston agreed to pay an arbitration salary of $5.85 million. Even though they saved $10.5 million in that trade—which sent Chris Sale to Atlanta in exchange for Vaughn Grissom—a portion of his contract was offloaded, as the money would have been postponed for more than 15 years.
The Sox have the same amount of starting pitchers as they did at the beginning of the winter because Sale left town shortly after Giolito signed. Breslow said earlier this week that they were still considering their options for free agents and trades, but that they have found it to be a “challenge” to add rotation support.
One of those rotation targets was Jordan Hicks, according to Rob Bradford of WEEI. Last Monday, the Giants acquired the hard-throwing righty on a four-year, $44MM deal. Despite Hicks’ extensive big league experience being in relief, San Francisco plans to give him a chance in the rotation. Bradford claims that had Hicks moved to Boston, the Sox would have let him to compete for a starter position as well.