Instead of simply calling Melvin stupid and ending the analysis there, let's at least try to figure out how Melvin rationalized his decision. This ended up being a much longer post than expected, so feel free to skip to the last 2 paragraphs if you want to know my opinion on all this. First, we need to make some guesses on what Melvin's assumptions were. Question #1: What is Lopez worth on the open market? I'll simply formulate a rough projection for Lopez and use Tango's/Fangraphs' methodology to give that projection a dollar value. Here are the run values that Fangraphs has for Lopez's offense over the last three years (as basically a full time player): 07: -17.3 runs, 08: -3.5 runs, 09: 13.1 runs Weighing 2007, 2008 and 2009, 20%, 30% and 50% respectively, I get 2 runs. Add in a little regression, age adjustment and I would say he's about an average hitter. Not bad at all for a 2B. Now let's do defense. Since UZR data isn't as reliable as hitting stats, I'll weight the last 4 years at 10/20/30/40. The UZR run values: 06: -17.5 runs, 07: -6.6 runs, 08: -7.7 runs, 09: 7.8 runs I get -2 runs. Add in Fangraphs' replacement level baseline and positional adjustments from last year, and we get: 0 runs (offense) + -2 run (defense) + 22.7 runs (replacement) + 2.2 (positional) = +23 runs Using 10 runs/win and $4.5 mil/win (it's debatable what is the "right" $ number to use), we get Lopez worth about $10 mil next year. Let's assume Lopez's reputation for having a bad attitude costs him $1 mil (complete guess). That leaves us with a free agent value of $9 mil. Others might find that way too high but considering the kind of year Lopez had last season (.310/.383/.427/.810 line over 680 PA), I don't think that estimate is unreasonable. Question #2: What would Lopez get in arbitration? As end pointed out, comps is a big part of the arbitration process but how those comparisons are formulated is probably not the most sophisticated process (I suspect BA, RBI and fielding % plays a prominent role). Personally, I think $5 mil would be the around the minimum that he would be awarded in arbitration. I would assume somewhere between $5-$8 mil. Let's split the difference and call it $6.5 mil. Question 3: what is Lopez's value to the Brewers? We estimated his FA value to be $9 mil over a full season but I can't see Melvin having projected more than 300 AB for him in 2010. That effectively cuts his value to the Brewers in half, to $4.5 mil. It's funny, but I bet most fans would be OK with Lopez being worth that in 300 AB but most probably wouldn't agree that he's worth $9 mil in 600 AB. I could be wrong on that, but when you get close to $10 mil, people start freaking out, it seems. Question #3: What is a sandwich pick worth? That's a tough question to answer but here's a study on the topic: http://www.hardballtimes.com/main/article/valuing-the-draft-part-one/ He estimates it at $2.63 mil. For the sake of argument, we'll assume Melvin valued the sandwich pick at $4 mil. If Melvin would have offered Lopez arbitration, the risk was that Lopez would accept and Melvin would have had to pay $6.5 mil for $4.5 mil of value (a net loss of $2 mil). Had Lopez declined arbitration and signed elsewhere, the reward would have been the sandwich pick, worth $4 mil. If the odds of Lopez declining were greater than 33%, this analysis suggests that Melvin should have offered arbitration. Indeed, since I estimated that Lopez's FA value was greater than his likely arbitration salary, we would have expected Melvin to offer arbitration and Lopez to decline it. I can only imagine that Melvin estimated Lopez's value in 2010 as being less than I have. It's either that or Melvin and/or Mark A. are desperate to clear as much money as possible off the books, so they can maximize their available cash for what they see as a greater need (pitching). What's more enlightening, though, is that the dollar figures we are talking about are all pretty darn low. $2 mil? $4 mil? Melvin's decision may reflect poorly on his ability to make good baseball decisions but it will probably not have a large effect on the 2010 season. The tens of millions Melvin and Mark A. predictably wasted on Suppan pisses me off. This is a slight annoyance.