Re-Visiting the Derrek Lee Contract
The Cubs signed Derrek Lee to a five-year $65 million deal in April 2006. It looked like a reasonable deal at the time, but unfortunately the Cubs have not gotten their money’s worth.
Up to this point Lee has been worth 13. 8 wins above replacement. Under the assumption of about $4.5 million per win he has been worth $62 million. Barring some unexpected run in the last few months of the seasons he won’t accumulate enough wins above replacement to be worth his contract. It’s not an albatross of a contract, but I think it’s fair to say the Cubs probably would have liked more than market value for him.
I would have made this deal at the time so I’m not second-guessing the deal. It’s unfortunate he got hurt in 2006 and is having a terrible year this year because he would have most likely earned his money. I’ve never had a problem with Lee really, but when you look back at the deal he’s only earned his salary in 3 of the 5 years of the deal.
This won’t go down as one of Hendry’s worst deals, but it is far from his best deal.
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Pretty much right on, it is said thought he would do better. If they resign it should be for a good deal for cubs if not let him go.