What?  He can’t be serious?

Jason Giambi, the $22 million albatross, is in the final year of his monstrous contract that he signed prior to the 2002 season.  This binding agreement inauspiciously marked the beginning of a trend of obnoxious spending by the New York Yankees, who insisted on paying aging superstars for their past performance on other teams.  But that is the past now, and General Manager Brian Cashman has grabbed the organizational reigns from the Tampa brain-trust and is working to get the spending in check.

So why bring back Giambi?

The Big G, is due $22 million next year in an option that the Yankees will most certainly not pick up.  However, there is a $5 million buy-out that will free the organization of his contract rendering Giambi a free agent.  It is at this point that Cashman should work with Jason on re-signing him for one year with an incentive laden contract that would guarantee a second season if he meets carefully determined performance criteria.  Considering the enormous amount of money Giambi has made with the Yankees and his lack of production coupled with the controversy he has wrought; Jason should be more than willing to work out a fair deal.

Here are the terms I suggest:

  • A one year contract at $7 million (which would be in addition to the $5 million buy-out) yielding a $12 million payout to Jason.
  • There would be an option year for an additional $12 million in 2010 if Giambi meets any one of the following performance goals in 2009:
    • Minimum of 500 plate appearances (This ensures that he not only remains healthy but also productive at first base.  Healthy or not, if Jason fails to put up the requisite numbers at first base he will have his playing time reduced making the vesting of his contract hardly possible).
    • 30 Home Runs
    • 90 RBI

You still have not answered the freggin question! Why?

Let’s face it, after a very slow start in 2008 Jason Giambi is tearing the cover off the baseball.  He is providing a big bat in the middle of the Yankee order which functions as significant protection for the league’s best player, Alex Rodriguez.  Currently Giambi’s splits are quite impressive: .271/.403/.575 with an outstanding OPS of .978.  His OPS is third in the league and tops among American League first baseman. Even in his advanced age, Giambi continues to be an on-base machine that hits for tremendous power - true to the Moneyball philosophy of Billy Beane.  If you consider his dreadful start to the season where he was cruising the Interstates, hitting around .150 you can appreciate the prolific numbers he has put up in May and June.

What is even more impressive is that he has maintained his health despite playing first base everyday - something he has not done in years.  Of course he is no Don Mattingly at first, but he can pick it and is not as big of a defensive liability as people think.  He has average range, with his one major drawback being he cannot throw the baseball whatsoever.

The Alternative:

Naturally, most Yankee fans think the organization needs to sever the chord with Giambi and go after Mark Teixeira of Atlanta (2008 splits: .271/.365/.462 with an OPS of .827), who will be a free agent after this season.  That is all well and good, but Teixeira is a Scott Boras client that is reportedly seeking an 8 year deal in the ballpark of $160 million.  Of course the Yankees have a ton of money but here you go heading down the path of paying another player mega bucks who is going to start his contract as a 29 year old.  Which happens to be the same age Giambi was when he signed his enormous deal with New York.  Without question, the switch-hitting Teixeira who is younger (for now) and a major defensive upgrade, will be great for the first few seasons of his contract.  But remember, Giambi was great for his first few seasons with the Yankees too.

The End Result:

So instead of bringing in Tex, re-sign Giambi for what is my final and perhaps most compelling reason; Derek Jeter needs a place to play.  Jeter cannot play shortstop forever, and he can slide over to first base when Jason Giambi finally departs, ideally after 2010.  If Teixeira is here, making big money where can the Yankees move Jeter?  I’m sorry I don’t want to hear people say let Jeter walk when his contract expires in 2010.  I’m not even going to begin to entertain that argument, and if you think that is an acceptable plan you are clearly not a Yankee fan and may God have mercy on your soul.

Nevertheless, the man needs a place to play in another year or so.  Under this plan, Jeter plays shortstop in 2009 at the new stadium, and you begin the transition to first in 2010.  This way the Captain can attack 3,000 hits and his future monument in peace.

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