The Red Sox are currently projected to have about $216M worth of luxury-tax obligations on their ledger, which leaves about $17M worth of spending room before they’d be at risk of paying the tax for a second consecutive season. They’ll probably need to use some of that for a middle-infielder.
Boston was one of six teams to exceed the CBT threshold in 2022, and the only one that didn't make the playoffs. The Red Sox ended the season $1.2M over CBT mark, in what can only be described as total mismanagement.
Entering Aug. 2, the day of the 2022 MLB trade deadline, the Red Sox had a 53-52 record, putting them just over the .500 threshold. They were 17 games behind the American League East-leading New York Yankees. The Sox had proven themselves to be a thoroughly mediocre ball club, not a World Series contender, most of the season. Any reasonable person would have concluded that they should be sellers (at least enough to fall below the CBT threshold), not buyers.
By simply trading either Nathan Eovaldi or J.D. Martinez at the deadline, Chaim Bloom would put the Red Sox below the CBT threshold, avoided any subsequent penalties, and improved their lot for this season. Though the club later issued qualifying offers to both Xander Bogaerts and Eovaldi, as luxury tax payers they will be penalized in the upcoming draft.
Had the Red Sox gotten under the luxury tax threshold at the deadline, they would have received picks 70 and 71 in the 2023 Draft for the departed Bogaerts and Eovaldi. Instead they will receive picks 133 and 134. They also missed out on roughly $1 million in additional bonus pool money, based on 2022 slot values.
Not only has Bloom continually failed to accurately read the free agent market, which has cost the team repeatedly, he failed to accurately gage and assess his team’s playoff chances, were were essentially nil.
Yes, the installation of a third wild-card spot gave Boston some modicum of hope, but it was the squint-your-eyes variety. The Sox at the time trailed Tampa, Cleveland and Baltimore. That would have amounted to a lot of leap-frogging for a team that could only be described as inconsistent, at best. Their Pythagorean record entering Aug. 2 (their projected record based on runs scored and runs allowed) ranked as the 11th best in the AL.
Sure enough, that proved to be predictive: the Red Sox went 26-32 after the deadline, finishing eight games behind the Rays.
Yet, Bloom failed to trade some key pending free agents, which would have improved Boston’s lot this season. However, he traded the popular Christian Vazquez, and added Tommy Pham and Eric Hosmer, both of whom are no longer with the team. Neither player added any value or improved the roster in any meaningful way upon arrival.
The acquisition of Reese McGuire for Jake Diekman was Bloom's only sound move, but it didn’t affect the CBT threshold. That’s what really matters at the moment.
Everyone in baseball knew about Trevor Story’s elbow issues last offseason. The Sox gambled and lost. Now they need not one but two middle infielders, and that’s where their luxury tax problem is coming home to roost. If Boston goes over the CBT a second season in a row, their penalties will only increase next year, when they might really like to play in the deep end of the free agent pool.
The possibility of going over the CBT again, and again landing in last place is a disaster that should never occur. But that’s where the Red Sox find themselves at the moment. And it’s all the result of the ‘leadership’ of the incompetent Bloom. He needs to go.
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