25. Josh Donaldson, third baseman, New York Yankees
It’s been a bad year for Donaldson and also an injury-marred one. He basically missed April and May with a hamstring strain, and last week was sent to the 60-day injury list, this time with a calf strain. As a functional matter, his season – and possibly his tenure with the Yankees – may be over.
Oh, and during those six weeks when he was active Donaldson batted .142 with a paltry .649 OPS. So it’s not like the days of activity, while few, were glorious.
He’s technically signed through 2024, but the team holds an $8 million buyout. That’s substantial, but Donaldson’s age – he’s 38 – plus his recent health history makes it likely that management will at least strongly consider exercising that option.
Donaldson is being paid $21.75 million for that 33-game stretch between early June and mid-July when he was active and healthy. That makes him No. 4 among MLB third baseman behind only Anthony Rendon, Nolan Arenado and Alex Bregman. He’s a few nickels ahead of Manny Machado.
The problem is that while Donaldson is being paid like Manny Machado, he has played – when capable of playing at all – like Jose Miranda. At -0.1, he ranks 33rd among the 38 third basemen in WAR. Based both on his production, on the positional average 1.171 WAR, and on salaries, his onfield value to the Yanks works out to -$772,000.
Throw that negative $772,000 atop the $21.750 million Donaldson is receiving and it works out that he is overpaid by a small matter of $22.53 million.
24. Robbie Ray, starting pitcher, Seattle Mariners
Prior to the 2022 season, Ray agreed to terms with Seattle on a five-year $115 million contract and paid immediate rewards. In his first season, Ray made 32 starts with a 3.71 ERA and was a key factor in Seattle’s rise to a first postseason appearance in more than two decades.
But Ray was awful in the 2022 postseason, being rocked for five earned runs in appearances that lasted just 3.2 innings.
Still Mariners fans entered 2023 expecting Ray to be a rotation anchor, a logical enough assumption given that Seattle was paying him $21 million. That view did not last long.
Ray made his first start – against Cleveland on March 31 – but left just three and one-third innings into it, reporting a flexor strain in his left arm. The Mariners put him on the injured list, and when Ray’s arm didn’t respond to treatment he underwent Tommy John surgery. His expected return date is now sometime next season.
That means all the Mariners will get for their $21 million layout this year is that three inning start, a showing that earned Ray -0.2 WAR. Among the 128 qualified starting pitchers, Ray ranks 15th in salary but 106th in 2023 WAR.
Given the $9.131 million salary and 1.171 WAR of an average starter, Ray’s -0.2 WAR translates to -$1.932 million in value to the Mariners. That means by season’s end Seattle will have overpaid Ray by about $22.932 million relative to his value to the team.