Since Walt Jocketty was elevated to the big office in April of 2008, the Reds haven't done much in free agency.
Under Walt's supervision (though not officially GM), the Reds signed the immortal Corey Patterson to a minor league deal. Patterson put up a sterling line of .205/.238/.344 while appearing in 135 games. Not the best start, but I'm sure this was somehow Wayne Krivsky's fault.
After watching the 2008 Reds go 74-88 and finish 5th (but not last! thanks Pirates) while he sat on the sidelines evaluating talent, WJ starting rebuilding the Reds in the Cardinals image. Walt put a dent in the pocketbook with the signings of mildly forgotten reliever Mike Lincoln (2 years/$4 million,-0.4 WAR) and creatively spelled OF Laynce Nix (1 year/$600k, 1.0 WAR). He stepped up his game by giving 39-year old reliever Arthur Rhodes a 2 year, $4 million contract that somehow worked out (2.9 WAR), with Rhodes earning his lone All-Star Game appearance in 2010.
WJ continued his makeover by bringing in a new center fielder to replace Patterson. Unfortunately for the Reds, that center fielder was Willy Taveras. Fresh off a 0.0 WAR season with the Rockies, Walt felt he owed him a 2-year/$6.25 million dollar contract. Taveras shockingly failed to deliver with a .240/.275/.285 slash line in 102 games, leading off most games with an out. WJ also added professional winner Jonny Gomes on a minor league deal.
All that work resulted in the Reds going 78-84 and finishing 4th in the Central (thanks Astros and Pirates). Walt restructured veteran leader Scott Rolen's contract into a 3 year/$23.6 million deal (6.3 WAR). Rolen responded with his final great season, putting up 4.1 WAR in 2010 and appearing in the All Star Game. Veteran leader Orlando Cabrera signed up to start at short on a 1 year/$2 million deal (0.6 WAR). Veteran leader Miguel Cairo joined the party with a 1 year/$500k contract (0.7 WAR). Jocketty also inked Aroldis Chapman to a 6 year/$30 million deal (7.5 WAR so far) that had the Reds at the time thinking they had signed a top-of-the-rotation starter. Or something like that.
2010 was the year that it all came together for the Reds. With breakout seasons from Joey Votto and Jay Bruce, the Reds finished first in the division. And with that, Walt kicked back and relaxed.
Over the last 5 years, Walt hasn't signed many players of consequence from outside the organization. Most of them were benchwarmers or guys brought in on minor league deals (Fred Lewis, Jack Hannahan, Brayan Pena, Skip Schumaker, Willie Harris, Dioner Navarro, Xavier Paul, Cesar Izturis, Manny Parra, Nick Papagiorgio, Derrick Robinson, Roger Bernadina, Jumbo Diaz, Ramon Santiago).
The only free agents expected to play a major role have been former Cardinals shortstop Edgar Renteria (1 year/$2.1 million (0.7 WAR)) and outfielder Ryan Ludwick (2 years/$2.5 million (2.0 WAR)). Closer Ryan Madson (1 year/$8.5 million) never threw a pitch for the team. Cuban pitcher Raisel Iglesias was recently signed to a 6 year, $27 million deal.
The one place Walt has been active has been in signing current Reds to extensions. A summary:
THE GOOD
Bronson Arroyo 2010 - 3 years/$35 million (5.0 WAR)
Jay Bruce 2010 - 6 years/$51 million (8.3 WAR so far)
Joey Votto 2011 - 3 years/$38 million (18.5 WAR)
Johnny Cueto 2011 - 5 years/$37 million (18.7 WAR so far)
Ryan Hanigan 2011 - 3 years/$4 million (3.2 WAR)
THE BAD
Miguel Cairo 2011 - 2 years/$2 million (0.3 WAR)
Joey Votto 2012 - 10 years/$225 million (3.1 WAR so far)
Brandon Phillips 2012 - 6 years/$72.5 million (8.4 WAR so far)
Homer Bailey 2014 - 6 years/$105 million (1.2 WAR so far)
Ryan Ludwick 2012 - 2 years/$15 million (-1.5 WAR)
THE RELIEVERS
Nick Masset 2010 - 2 years/$2.58 million deal (1.1 WAR)
Nick Masset 2012 - 2 years/$5.5 million (0.0 WAR)
Jose Arredondo 2012 - 2 years/$2 million (0.7 WAR)
Sean Marshall 2012 - 3 years/$16.5 million (-0.3 WAR)
Jonathan Broxton 2012 - 3 years/$21 million (1.5 WAR, traded)
Logan Ondrusek 2013 - 2 years/$2.3 million (-0.7 WAR)
Manny Parra 2013 - 2 years/$5.5 million (-0.6 WAR so far)
By looking at Walt's extensions, we can see that he has an affinity for locking his prices in on relievers, often to the detriment of the bullpen. His early extensions were good. Bruce, Cueto, and the initial Votto contract all worked out nicely. Then there's basically everything since. The jury is still out, but most of them aren't looking favorable at this point.
So how do we judge Walt Jocketty? Is the complete lack of depth on the 2014-15 Reds his fault? Probably. Is it on him that everybody got hurt? Not really. Should we blame him for the fact that the bullpen has been terrible? Definitely.
Man, I really hope Walt isn't in charge of the rebuild.
