In some downtime before the holidays, I’ve decided to take some time to create the Major League Baseball all-overpaid team.

Let’s start by naming our 5-man starting pitching rotation:

# 1 - Barry Zito (7 years, $126 million)- San Francisco Giants

# 2- Carlos Silva (4 years, $48 million)- Seattle Mariners

# 3- Mike Hampton (8 years, $121 million)- Atlanta Braves

# 4- Jeff Suppan (4 years, $42 million)- Milwaukee Brewers

# 5- Carl Pavano (4 years, $39.95 million, $13 million club option)- NYY

To answer your question, yes, Mike Hampton is still in the midst of his ludicrous contract initially given by the Colorado Rockies. His inclusion in this list is self-explanatory. Since leaving the NY Mets after the 2000 season, Hampton is 52-48, and has not pitched in the big-leagues since 2005. It’s been one injury after another for Hampton. He’ll have a spot in our rotation here, however, regardless of his health. Same goes for Pavano, who has an annual salary from the NYY of about $10 million per season, which has netted New York a grand total of  5 wins over the first three years of the deal.

As far as Barry Zito goes, he’s number one in our rotation, and number three for the less-than mediocre SF Giants. Paid an ace-like contract that works out to be roughly $18 million per-season, he went 11-13 in his first year for San Fran. $18 million for a 4.53 ERA? Yeah, nice deal.

Rounding out our rotation is Jeff Suppan and Carlos Silva (who just signed days ago). I should give Silva a chance to prove me wrong first, right? False. Two “good” major league pitchers, not doubting that. But for annual salaries in the 8-figures range, these two gentlemen combined to be only 14 games over .500 for their careers. They’re “nice” middle-rotation guys who pitch a good number of innings, yet they managed to get paid annual salaries of $10.5 million and $12 million. Amazing fleeces by them.

Let’s create a nice bullpen here to set-up for our “stud” starting staff.

CP- Francisco Cordero (4 years, $46 million)- Cincinnati Reds

RP- Danys Baez (3 years, $19 million)- Baltimore Orioles

RP- Kyle Farnsworth (3 years, $17 million)- NYY

RP- Scott Linebrink (4 years, $19 million)- Chicago White Sox

RP- Scott Schoeneweiss (3 years, $10.8 million)- NYM

LRP- Kei Igawa (4 years, $20 million)- NYY

Ok, I know this list is open for a lot of debate. I never advocate giving middle-relief pitchers multi-year lucrative contracts, it is an art that is way too inconsistent year over year. There are tons of guys out there worthy of being on this list. Cordero is a good closer, but he recently signed a deal with the Reds that will net him more annually than Billy Wagner (NYM), KROD (LAA), Joe Nathan (Minnesota Twins), and Trevor Hoffman (San Diego Padres)…yet he does not have the track record of success like any of these closers. As far as Linebrink is concerned, his numbers are on the decline, as he may have been over-used in past seasons…yet he managed to score a 4 year deal. Wow. Farnsworth is paid like a set-up man, yet the Yankees are terrified to use him in the 8th inning of a close ballgame. Who can blame them? Baez is hurt, no surprise there. Kei Igawa, congrats buddy, you’re our long reliever. You may pitch more for us than the Yankees over the next 3 years. Lastly, Schoeneweiss is flat-out mediocre. 3 year-deal? Kind of ridiculous.

Moving right along to some of our position players:

First Base-  Jason Giambi (7 years, $120 million)- NYY

Mr Balco himself. Giambi’s defense has become so poor the Yankees have tried a bunch of journeymen in the position over the last few years, while using Giambi at DH. That’s no surprise, it was inevitable when the deal was signed anyways. Since Giambi has signed with New York, though, the Yankees have not won a World Series. That is not alone his fault, obviously, but he is indeed paid $120 million. He has not played more than 139 games since 2003. He failed to play in 85 games in 2004 & 2007. His OBP continues to be an asset, but he has not hit higher than .271 since 2002. He lacks any sort of versatility, throw in the steroid scandal, and we have our first baseman!

Second Base- Kaz Matsui (3 years, $16.5 million)- Houston Astros

Matsui fleeced the pants off the Astros this off-season. The contract is not in Giambi-territory, but it’s a bad deal. Matsui hit .288 for the NL Champion Rockies in 2007, could he be turning a corner in getting used to life in the MLB? Nah, he hit .249 on the road with a fantastic .304 OBP. And just think, he is supposed to be a top-of-the order kind of guy. Oh, his defense his pretty terrible too.

Shortstop- Julio Lugo (4 years, $36 million, w/$9 million option)- Boston Red Sox

$8 million a season for some sub-par defense and a .237 average? Theo has done a tremedous job, this is one of his few poor signings. Lugo has some speed (33 SB in 2007), but he has limited power (8 HR), and does not hit for a good batting average. His OBP was under .300 in 2007. This lack of production can be hidden in Boston’s lineup, but it’s not like we’re dealing with a defensive wiz here.

Third Base- Eric Chavez (6 years, $66 million, w/$12.5 million option)- Oakland A’s

Eric Chavez has hit .240 & .241 the past two seasons, with declining power numbers (22 & 17). His defense is great, but injuries and lack of protection in the lineup have hampered him since signing this lucrative deal. He played only 90 games in 2007.

Outfield #1- J.D. Drew (5 years, $70 million)- Boston Red Sox

OK, another one of Theo’s mistakes. Drew signed with the Sox after opting out of a deal with the LA Dodgers, and he netted $14 million/season. He hit .270 with just 11 HR in his first deal with the Sox. He salvaged some dignity with a huge HR in October, but over the long haul, this deal can be questioned. His desire and love of the game has been questioned over the years.

Outfielder #2- Aaron Rowand (5 years, $70 million)- SF Giants

After a great 2006 with the Phillies, Rowand cahsed in this off-season. He plays great defense, and did have 27 HR and 89 RBI. So what’s the problem? Well, Philly plays in a ban-box. The Giants need a lot more help, and Rowand is not an overwhelming presence in their lineup. He’s a good player, he’s gritty and plays hard. All positive attributes..but this is way too much.

Outfield #3- Vernon Wells (7 years, $126 million)- Toronto Blue Jays

Wells struggled in 2007 after signing this enormous contract. He hit just .245 with only 16 HR and 80 RBI. His worst season since becoming a regular in the big leagues in 2002. He makes the list based on his 2007 production, or lack their of. He is a top-tier defender, but he needs to rebound in 2008 to rationalize this deal.

OK, so there we have it. Our all-overpaid team. Let the debates begin. There are a number of players who didn’t yet crack our list, but feel free to throw some names out there. There will always be room on this list for more!

Filed under: _ Dream Teams