Last Player Picked

I’m confident that Rick Porcello will take the next step in 2010. The real question is whether that next step will be a step forward or a step backward.

After only one year in the minors, Porcello managed this MLB line in 2009:

14 W, 3.96 ERA, 1.37 WHIP, 89 K, 170.2 IP

That’s pretty good for a 20 year-old rookie, good enough for a $5-6 value last year. But the predictions for 2010 are…pretty divided. Let’s take a look at the negatives first:

Rick Porcello takes a step back in 2010.
(CHONE: 5 W, 5.08 ERA, 1.52 WHIP, 69 K, 124 IP)

Someone recently pointed out to me that Porcello’s projection wasn’t showing up on the Price Guide. After a little digging, I found that that wasn’t quite true: Porcello is on the Price Guide for 2010, but he doesn’t rank in the top 250 pitchers that are shown by default. The reason why is nicely illustrated by CHONE’s projection above.

With a 5.00 ERA, Porcello winds up in the -$16 range for standard league. Why the pessimism for a pitcher who finished 2009 with an ERA below 4.00? Most likely it comes from Porcello’s very low strikeout rates over his two professional seasons. With so few strikeouts, there will be lots of balls put in play. More balls in play means more hits and more runs, and that’s going to show up in his WHIP and ERA.

Even without the impact on ERA/WHIP, it’s hard for a pitcher with so few strikeouts to be valuable in 5×5 fantasy. That projected line above presents no redeemable qualities for fantasy.

Rick Porcello takes a step forward in 2010.
(Fans: 12 W, 4.10 ERA, 1.43 WHIP, 110 K, 180 IP)

What the projections don’t know, however, is that Porcello is a somewhat unique pitcher. He’s a first round pick who has shot straight to the majors, which means he’s at least impressed some people — bad pitchers don’t jump from A-ball to the majors.

Mike at THT Fantasy makes a comparison with Ben Sheets. Like Porcello, Sheets was a 1st round pick who wasted little time in the minors. Although he started off his major league career with middling K/9 numbers, Sheets’s strikeout-rates improved and he turned into a very good MLB pitcher. It’s not an exact comparison, but it shows that it’s possible for Porcello to improve.

That’s the sort of thinking that is influencing the fan projections above. There’s a little bit of decline in rate stats, but that’s compensated by an improved K/9.

So what can we expect from Rick Porcello in 2010? I’m not making any bold predictions, but I will say that the potential downside makes him a risky pitcher to draft this year.

Yesterday, I asked what you would be willing to pay for Stephen Strasburg if your draft were held today. Reassuringly, the comments I received echoed what I had been thinking, and they basically raised the same questions that I have.

The projections so far (CAIRO and ZiPS) have him as a late-round 4.00+ ERA pitcher for about half of a season. That would probably be worth a mid-single digit bid in most leagues.

But there are enough questions around Strasburg to make bidding much more complicated. I see at the following factors weighing in on Strasburg’s value:

How many innings will Strasburg pitch in 2010?

I don’t follow the Nationals too closely, but right now it looks like there’s at least a chance Strasburg could start the season in the majors. There aren’t a ton of great options available for Washington, so a good spring gives Strasburg a shot at spending April in D.C.

However, it has become common practice to cap a young player’s innings to prevent injuries, and so I’d say the most optimistic prediction for Strasburg would be 160 IP. The Nationals won’t have anything to play for in September, so I’d think they would shut him down.

Of course, the Nationals may also decide to start Strasburg off in the minors. In that case, we’re talking about something closer to 100 IP.

I’d say the risk of only getting 100-150 IP out of a SP is a factor that keeps Strasburg’s value low for 2010.

How high is the upside?

I mentioned yesterday that projecting Strasburg in 2010 is more complex than just picking a single number, like a 4.38 ERA. I’m making up some numbers here, but let’s throw out some quick probabilities for what Strasburg’s ERA might look like:

5% – 3.00
10% – 3.50
25% – 4.00
40% – 4.50
20% – 5.00

That gives, on average, a 4.30 ERA. It also gives Strasburg a 5% chance of becoming a top-tier pitcher immediately. There’s a 10% chance he winds up in the middle-tier for fantasy, and a 25% chance he’s worth a late-round grab. Most (60%) of the time, however, he’s waiver wire fodder.

I admittedly have no idea how realistic those probabilities are. However, I think the chance of him being either good or very good gives him a much higher ceiling than your typical 4.38 ERA pitcher. And I think that upside must slant his value a little bit higher.

How much risk can your fantasy team assume?

When drafting, I try to balance out upside picks with more conservative choices. If I already have, say, Roy Oswalt and Roy Halladay, then I have quite a bit of freedom to take some chances with the rest of my pitching staff.

The answer to this question will be mostly dependent on how your draft is progressing when Strasburg comes up. But I think it also matters regardless of context specifics. In general, I think pitching depth looks pretty good this year. It seems like it will be possible to put together a solid, reliable staff without spending too much money. The availability of quality SP might make me somewhat more inclined to take on a riskier proposition.

Put all of those factors together, and I’m guessing that I’d be willing to bid about $8 on Strasburg in a typical league. That’s not enough to ruin my season if things go wrong, but I think there’s a decent chance he’s worth it.

CAIRO’s latest update gives the Price Guide its first projection for the Washington Nationals’ Stephen Strasburg:

4 W, 4.38 ERA, 1.47 WHIP, 70 K, 76 IP

SG is going from college stats here, so this is still wildly speculative. The Price Guide indicates that a pitcher with those stats isn’t worth starting in most fantasy leagues, including NL-only leagues. It would be the kind of pitcher you draft for your bench, only to drop in April so you can pick up some guy who starts the season on an unexpected hot streak.

Dan Szymborski’s ZiPS gives a somewhat more optimistic look for Strasburg:

10 W, 4.18 ERA, 1.32 WHIP, 113 K, 114 IP

That’s a draftable pitcher for late in a fantasy baseball draft. The IP make it hard to find a comparable, but that’s roughly what you might expect from Rich Harden or Chris Young. (They have injury risk, but Strasburg has risk as well.) It’s also not too far off from what you might expect from A.J. Burnett (with significantly fewer IP).

With Strasburg, of course, you’re not simply drafting a projected statline. There’s an enormous amount of upside, much more so than your typical 4.38 or 4.18 ERA pitcher. That upside is obvious for those in keeper leagues, but is it worth anything in 2010?

What do you think? Let’s say you’re in a 12 team, standard redraft league and have $260 to spend. If your draft were held today, what would you pay for Stephen Strasburg?

And you can’t say, “I wouldn’t draft him because someone else would pay more.” How cheap would he have to come for you to bid on him?

I’ll give my answer tomorrow.