Papelbon wants a new contract, but he’s willing to wait

Jonathan Papelbon hasn’t been shy about wanting more money from the Red Sox.

He made $425,000 in 2007, and though he understands he doesn’t have a lot of leverage with only two years of service, he feels undervalued given what other third year All-Stars have received. “Ryan Howard got $900,000 in his third year,” said Papelbon. “There it is. It’s staring (the Red Sox) right in the face.”

Though he would like to get a deal done as soon as possible, he isn’t going to sign for less than he’s worth.

“I can’t sell myself short. I know they’re not going to give me what I want, so the question becomes, ‘How close can we get?’ If I can’t get close, they can just renew me.”

I understand that Papelbon is frustrated with the rules that require three years of service time before a player can be arbitration eligible, and six before he can enter free agency. But at this point, there isn’t a whole lot of incentive for the Red Sox to commit to a long-term extension.

Papelbon is under Red Sox control through 2011. He will be eligible for arbitration following the 2008 season, and I expect that Theo will wait until arbitration rolls around before seriously negotiating a new contract.

Remember, Papelbon is only one year removed from a season ending shoulder breakdown, so the Red Sox need to monitor him this season to make sure that he stays healthy. If he does, then maybe something will get done in the offseason. If he breaks down again, he’ll have a tough time making his arbitration case.

Papelbon seems to be approaching that possibility with the same confidence he displays...well...everywhere.

“I have no problem going year to year,” Papelbon said. “I have no doubts whatsoever, no fear, about going year to year. In fact, I’ve worked too hard to sell myself short.”

It doesn’t sound like there will be an agreement, so we’ll probably see his contract renewed.

Papelbon seems to understand the business end of baseball. He should make out well in arbitration even if he doesn’t get a big raise this year.

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