Table of Contents

Monday, October 19, 2015

2015 Playoffs: The New York Mets

Curtis Granderson had his best season since 2011, leading the Mets in Wins Above Replacement.
Photo Credit: Keith Allison
The Mets were a team that really flew under my radar this season.  When they faced the Reds in Late June, they had just fallen behind the Nationals for the division lead.  For their part, the Nationals seemed to be heating up, and were the heavy favorites to win the division in the preseason.  Therefore, this seemed like a classic case of an over-performing Mets team that was in the process of regressing back toward .500 where they seemed to belong.  I didn't expect that by late September, when the Reds faced them again, they would be at the top of their division and sailing into the playoffs.

And yet, as I write this, the Mets have finished off a talented (if under-performing) Los Angeles Dodgers team in the division team, and are currently up two games to none of the young and exciting Chicago Cubs, having toppled both Jon Lester and Jake Arietta.  They are the favorites to represent the National League in the World Series.  It's high time to take a look at this team: are they just on a good run, or is this a legitimate, championship-caliber ballclub?

The most impressive offering featured by the Mets is unquestionably their outstanding young starting pitching.  While I am crushed by the lack of a Bartolo Colon start, the trio of Jacob deGrom, Matt Harvey, and Noah Syndergaard is about as good as it gets among playoff teams.  They matched up to Clayton Kershaw and Zack Greinke very well, and seem set to carve up teams in what remains of the playoffs just as they've done all season.  The Mets are otherwise solid everywhere else: they hit pretty well, field pretty well, and have a solid bullpen backed by an excellent closer.  In short, they're a team that's really good at one important thing (starting), and a team that has managed to avoid having holes anywhere else.  That's a good recipe for success.

Position Players

Despite the completely avoidable and frustrating loss of Ruben Tejada, and the loss of Juan Uribe just before the playoffs began, the Mets look really solid top-to-bottom here.  David Wright came back just in time to mitigate the loss of Uribe, and Wilmer Flores, who began the season as the Mets' starting shortstop, hit just as well this year as Tejada while posting solid fielding numbers.  And the team still has depth: with the acquisition of Yoenis Cespedes, Michael Cuddyer has shifted into a platoon with Lucas Duda, whereas Juan Lagares offers a fielding-based platoon option with Michael Conforto in left field.

Otherwise, the Mets have gotten solid to above-average seasons from everyone involved.  It's really fun to see Curtis Granderson, a favorite of mine since his time with the Tigers, having a great season once again as a 34-year old.  And man, Yoenis Cespedes has been amazing.  The vast majority of his fielding totals come in left field rather than center field, but I've seen little to indicate that he can't be passable in center.  He has been a force with the stick since arriving in New York, but (thanks to fielding numbers) posted 4 of his 6.7 wins with the Tigers.  He's having a fantastic contract year, easily his best ever, slugging 35 home runs and seeing only very mild BABIP inflation that offsets the decline in his already-low walk rate.  I don't think I'd pay for more than 3.5ish wins for him as a free agent, and he's already 30 years old, but he's a tremendous source of right-handed power and quality fielding.

One shouldn't overlooked Michael Conforto, either.  The left-handed side of the Mets' outfield platoon posted 2.1 WAR after rising to the majors in his first full professional season.  There's but a lot of hype about Kyle Schwarber of the Cubs, and justly so.  But Conforto, just 22, has done nothing but hit since signing in last year's draft, and is a guy who could still contribute in a big way to the Mets' success this postseason.

One other mid-season addition, in the form of a return from injury, was Travis d'Arnaud.  d'Arnaud has long been a feature near the top of the catcher framing lists, and this year was no exception.  He also had an excellent season with the bat, finally getting his BABIP over the .280 mark for the first time in his MLB career, while slugging a very impressive 12 home runs in 268 PA's.  How incredible is the R.A. Dickey trade looking for the Mets, now that both Syndergaard and d'Arnaud have blossomed at the MLB level?

With the additions of Cespedes and Conforto, and the return of d'Arnaud, this offense is probably better now than they have been all year long.

Starting Pitchers

Wow, right?  Between Jacob deGrom, Matt Harvey, and Noah Syndergaard, the Mets have three ptichers who all throw super-hard, post superb strikeout numbers, and do not walk anyone.  Their repertoires look pretty similar too, at least one the surface: hard fastballs, quality breaking stuff, and effective change-ups.  Oh, and the #4 starter, Steven Matz, is another 24-year old who throws 94 as a left-hander, while posting peripherals that were almost as good as the elite.  It amazes me that, on a per-inning basis, Matt Harvey arguably had the third-best season among this group.  And he's still throwing, despite his oh-so-controversial innings cap.

If you ask just about any general manager to describe the qualities of a dream rotation that you can build a club around, this would pretty much have to be it: young, hard-throwing, good command, and under team control for years to come.  What else can you say about them?  I just hope they can all stay healthy.

Bullpen

I didn't realize how good Jeurys Familia is.  He throws hard and avoids walks, yes.  But the most impressive thing is that he does that while simultaneously posting outstanding walk rates.  Here's a good insight into why from Eno Sarris last night:
Sheesh.  He also throws an excellent slider that people can't hit:
I haven't heard him described as an "Elite Closer," but that's what he looks like to me.

The rest of the bullpen also looks pretty solid.  Tyler Clippard has never thrown super-hard, but has excellent classes and a ridiculous change-up that always induces a lot of whiffs.  He has always dealt with an extreme fly ball rate without giving up a ton of home runs, a trend that has continued this season.  Addison Reed seems somewhat diminished since he broke in with the White Sox, but at the same time he has patched what had been the biggest hole in his game: he used to be an extreme fly-ball pitcher, and now he's getting a respectable number of grounders.  Hansel Robles is the hard-thrower among their late-inning guys, and has been effective.  They don't have a huge lefty reliever, but Jon Niese has been used in that role this post-season with very good success.

This Mets team hasn't just gotten lucky.  They are a good team that has gotten better as the season has gone on, thanks to a few key acquisitions, young player promotions, and a few key players returning from injury.  It's hard not to look at this team and be impressed.  In my view, they match up very well against all the remaining playoff teams.  If they make it past the Cubs (still two games to go), they have the power right-handed pitching to handle the Blue Jays.  They have the roster depth to handle the Royals.  It could be a fun team to watch this month.

Friday, October 09, 2015

2015 Playoff Preview: The Los Angeles Dodgers

The Dodgers may have a new franchise player in Corey Seager.
Photo credit: Minda Haas

The Los Angeles Dodgers entered the season at the top of most team projection leaderboards.  It isn't hard to see why.  With their pair of aces at the top of the rotation along with impressive depth throughout not just their lineup, but their bench as well, they looked set to cruise to the AL West crown once again.

They did end up winning the West, of course, but not with the dominance I expected.  Kershaw and Greinke were exactly as advertised, if not better.  Nevertheless, despite some pleasant surprises (Justin Turner!), their offense was just "good," with average fielding and poor baserunning, to go along with a struggling bullpen.

Still, it's hard to not expect them to be a superb playoff team.  They now can have either of their aces pitch the majority of their games, they can leverage their roster depth as much as they like...and they now have Corey Seager, who has been ridiculous since arriving and taking over the starting shortstop role.




Position Players

This seems like a lineup that can and should change a lot from day to day.  I'm showing their lineup against the right-handed de Grom from game 1 of the NLDS.  But against a lefty, they can bring Kiki Hernandez and Yasiel Puig (who I'm surprised to see on the bench--but I haven't been following that this year, and Puig's offensive numbers are down).  Yasmani Grandal, a king of pitch-presentation, got the majority of playing time behind the plate, and gives you a platoon advantage along with a strong bat.

But the game-1 starting lineup is formidable.  The team leader (among position players) in WAR this season (if you ignore pitch framing data) was Justin Turner, who I continue to find mystifying.  The former Reds farmhand seemed very likely to decline substantially after a breakout performance last season, which seemed to be heavily inflated by a .404 BABIP.  This year, however, as his BABIP regressed toward league average, Turner added some extra power while simultaneously shaving a bit off of his contact rate.  Combine that with solid fielding at the hot corner and you have a 4-win season in just over 400 PA's.

Joc Pederson made highlights earlier this season with a tremendous first half, but saw his playing time reduce a bit as his bat cooled.  He has huge raw power (and good game power) and pretty good on-base skills, though contact can be an issue.  A.J. Ellis, who got attention this year with Harry Pavlidis's attempts to quantify pitch calling, had a surprisingly good season (in small sample size territory) with the bat, given his history.  Veterans Adrian Gonzalez, Howie Kendrick, and especially Andre Ethier have had nice seasons.

The guy everyone is talking about, however, is Corey Seager.  Seager was pretty much everyone's mid-season top prospect, and arrived in September to fill in for an injury to Jimmy Rollins.  After hitting a solid .278/.332/.451 in AAA, Seager is off to a fantastic start to his big league career, slugging .337/.425/.561 in 113 innings.  It's BABIP-y, but his K:BB numbers are very good, he's showing excllent power, and has apparently held his own defensively.  In just 113 PA's, he has already posted 1.5 WAR.  You have your 2016 Rookie of the Year favorite, and a guy that fantasy managers are going to go nuts over.  He probably isn't Troy Tulowitzki, reborn.  But he should be a fun guy to watch in this series.

Starting Rotation



What really can you say about Clayton Kershaw and Zack Greinke?  They were both spectacular this season.  Kershaw cleared 300 strikeouts and was basically unhittable (again) all year long.  Greinke didn't quite have his strikeout numbers, but had fantastic numbers across the board, and approached Orel Hershiser's record for scoreless innings.  If you were a Dodgers fan, you really couldn't have hoped for better performances from these two.  I'm sure people have written about it before, but I'm fascinated by the fact that Clayton Kershaw, a left-handed starter, doesn't really throw a change-up or splitter.  He does throw a 12-6 curveball, however, which might differ enough in horizontal movement from his slider to serve against right-handers.  It probably doesn't hurt that he seems to know exactly where it's going every time.

Brett Anderson had a nice comeback season with the Dodgers this year.  I remembered him as more of a dominant power arm in his heydey than he actually was.  His strikeouts are down compared to his time with the Athletics, but what he has always done is avoid walks and induce ground balls.  That's exactly what he's done again this year.

Alex Wood was acquired from the Atlanta Braves mid-season in a complicated three-way trade with the Marlins, and has been decent as a 4th starter.  He throws strikes and gets ground balls, while at least striking out the occasional batter.  His delivery may be funky, but he's a solid-average starter.  He's not slated to pitch in the short series, but seems likely to be the #4 guy in the NLCS if the Dodgers advance past the Mets.

Bullpen


This is a place where the Dodgers struggled a bit this season.  By the end of the season, however, they'd settled upon a set of solid arms.  Kenley Jansen is really the only guy in this group who has really dominated.  J.P. Howell has been on a happy side of the luck dragons this year, but he and everyone else have basically just been average relievers.  Late innings are a place where opposing teams could potentially make up some ground against this team.

Nevertheless, I really like this team.  I love teams that can mix and match their position players at will, and the deep pockets and clever signings of the Dodgers have let them do that.  And it's always fun to have two of the best pitchers in baseball within your rotation.  As I write this, the Mets have a 1-0 lead in the 4th of game 1, but you nevertheless have to think the Dodgers are going to give them a run for their money.

Sunday, August 30, 2015

2015 Playoff Preview: The Kansas City Royals

Lorenzo Cain is on his way to a six-win season.  He'll still catch anything, but this year he's
showing improved power and patience.
Photo credit: Keith Allison



As we get ready to turn the page into September, it's time to look toward the 2015 playoffs. The Kansas City Royals, last years' playoff sweethearts, look like a lock to make their return to October baseball, and currently lead all of baseball with a 100% chance of winning their division (at FanGraphs, projection method, and I'm sure that's rounded).  I did profile the Royals in May when they faced the Reds, and the team the Reds faced then bears a lot of similarities to their August version, though with two main differences.  First, the Royals offense had been ridiculous through the first month and a half, but has settled down to post solid-average numbers.  That's still better than last year, but they're not doubling people to death anymore.  Second, their rotation has improved, in no small part thanks to the Royals' acquisition of one former Reds ace, Johnny Cueto.

Still, the hallmarks of this team are constant.  They field better than any other team in baseball, they have a killer bullpen, and they do the rest of it good enough to be a very good all-around team.  And I like them better in the short playoff series format than over the long season because they can leverage their bullpen more, and they can lean on Cueto, and they have some good bench pieces that they will be able to use to mix and match their way through series.  They look really strong, and will certainly be a team that I will cheer for this postseason.


Position Players

I'm making some guesses here.  Alex Gordon has been out with a bad groin injury, but is currently on a rehab assignment and should return to the lineup soon.  He'll take his job back in left field.  That leaves new acquisition Ben Zobrist, Omar Infante, and Alex Rios to divvy up time between second base and outfield.  I've always like Infante and two offseasons ago advocated for the Reds to go after him to help them justify unloading Brandon Phillips.  Nevertheless, had a completely miserable season.  Alex Rios hasn't exactly caught the world on fire this season, but I just don't see how Infante could keep his job once Gordon returns.

I'm burying the lede.  The biggest story on this team is probably the revitalized careers of Eric Hosmer and Mike Moustakas.  Last year, Moustakas was sent to AAA due to ineffectiveness.  Last year, Hosmer was a replacement-level hitter.  And then, in October, they both seemed to find their stroke, and it's carried forward into this year.  Both of them have cooled off from their hot starts to the season, but they are both now solidly above-average ballplayers that anchor the team.

And if they're not the biggest, then we have to be talking about the amazing year of Lorenzo Cain.  Cain has hit every bit as well as those others, while playing his typical brand of sparking defense in center field and brilliance on the basepaths.  Last year, you might have argued that his 5-WAR season was due to inflated fielding numbers.  But his bat has taken a step forward this year, and he's in line to reach 6 WAR by season's end.  He might not be the best CF not named Mike Trout just yet, but he has to be in that conversation.

The Royals continue to let Salvador Perez play roughly 5 out of 6 games.  His offense has slipped as the season has gone on, and one has to wonder if the workload has something to do with that.  If I were Kansas City, I'd at least try to get him rest in September now that the division is more or less wrapped up.  He is a good hitting catcher, but he may be too fatigued to show it.

I also want to give a nod to Alcides Escobar as a quality fielding-first shortstop.  I don't think he gets a lot of respect, but he has been solid and dependable the last few seasons.  And this year, he has hit better than two of the other regulars in the Royals' lineup.

Starting Pitchers


Johnny Cueto sure gives this staff a different look, doesn't he?  Cueto hasn't been quite as good for the Royals as he was for the Reds this year (strikeouts and ground ball rates are both down), but I see no reason to expect that he'll be anything but brilliant for them this postseason.  Following him will probably be their other former-Red, Edinson Volquez, who has also had himself a nice season.  Volquez still walks too many, but he gets a good ground ball rate and strikes out his share of hitters.

I still really like Yordano Ventura.  Listed at 6'0", 180 lbs, he looks like a little dude out there.  But he throws hard, has a nice breaking ball, and has looked good whenever I've had the chance to see him pitch.

Their #4 pitcher will probably be one of Danny Duffy or Kris Medlen.  Duffy hasn't been able to repeat the success he had last year.  But Medlen has only just entered their rotation, but is an intriguing option for them.  He's had fantastic success as a starter in the past, of course, and if they can keep him healthy and effective through the end of the year he could be a really nice boost to this staff.  I could even see a scenario where he gets the second start of a playoff series, behind Cueto and before Volquez, on the strength of a strong September and significant veteran cred.  He could be a really good choice, too.


Bullpen


These guys are the best bullpen in baseball.  Again.  Greg Holland has actually had an off year, but it can't be overstated how brilliant Wade Davis and Kelvin Herrera have been.  They don't even worry about left-right match-ups, really.  Franklin Morales has been quality for them as the lone left-hander in this bullpen, and he barely is ever used in a high leverage situation.  Ryan Madson has been used as their #4 reliever, and his season seems to indicate that he is still capable of closing.

This kind of depth gives the Royals a really nice advantage in the offseason.  Sure, they can ride Cueto to a 7- or 8-inning shutout, great.  But in the other games, if Volquez or Ventura start getting hit, they can bring in their bullpen in the 4th inning and still have a relievers pitch one inning apiece for the rest of the game, knowing all of them have posted sub-100 xFIP-'s and ERA-'s this year.

Tuesday, August 04, 2015

Better Know a Red: Keyvius Sampson

RHP Keyvius Sampson made his MLB starting debut on Sunday afternoon with a well-pitched ballgame against the Pittsburgh Pirates.  Sampson was not a guy on my radar, but he impressed me with good velocity and a nice-looking curveball that he seemed able to throw for strikes.  Here's a profile on the latest Reds rookie to debut in their starting rotation.

Player Profile: History and Statistics

Sampson was drafted in the 4th round of the 2009 draft by the San Diego Padres out of Forest High School of Ocala, Florida.  Sampson is the 3rd major leaguer to hail from his school, joining Reid Nichols ('80-'87) and Jonathan Johnson ('98-'03).  Sampson was promoted all the way to low-A during his first season, albeit only for two games (on start).  The next year, he also threw for the Padres' low-A team, though again in limited action (10 starts, 43 innings).  By 2011, as a 20-year old, he was pitching for their A-ball affiliate, and he progressively was promoted a level per year, reaching AAA by 2013 as a 22-year old.  His minor league career started off brilliantly, with outstanding strikeout rates and acceptable walk rates to go with generally dominant performances.  Marc Hulet ranked him as the Padres' #6 prospect prior to the 2014 season, praising his velocity and noting he had a "potentially plus slider" and a quality change-up, but inconsistent control.

However, once he reached AAA, the more advanced hitters at that level seemed to have the distinct upper-hand. From 2013-2014, he posted an ERA in the high 6's, with a very comparable FIP.  The most obvious problem was that while he continued to post good strikeout rates, his walk rates ballooned to almost 7 bb/9.  In his offseason look at the Padres, Kiley McDaniel again praised Sampson's velocity and change-up, but expressed major concerns about his command and his slider.

The Padres put him on waivers this offseason, and the Reds grabbed him in January.  This year, in limited action the Bats, he hasn't been much better.  His walk rate has "improved" to 5 bb/9, but his strikeout rate has also slipped a bit.  He was doing well at avoiding the long ball, but that could easily have just been luck--in his first game with the Reds, he posted high fly ball rates (36% ground ball rate), although he had a dandy 6:1 k/bb ratio in his six solid innings of work.  The question with Sampson clearly seems to be whether he can avoid walks well enough to let his stuff play up.  Stats:


Repertoire

Given the scouting reports, I expected to see fastballs, change-ups, and sliders.  But this is what we saw:
I don't know if the curve is a new pitch for him or not.  The FanGraphs minor league guys always focused on his other pitches, but this tidbit from mlbtraderumors on the day he was DFA'd by the Padres this offseason mentions him scrapping the pitch.  Nevertheless, Sunday he was throwing it 23% of the time, and to great effect: Brooks Baseball describes it as generating an "extremely high number of swings and misses" compared to other curveballs.  It is the pitch that stood out to me watching him.  I saw him drop it in for a strikeout looking, and then saw it drop into the dirt to induce a chance.  The pitch looked great; hopefully he can repeat that next time.

It's tempting to go further with this, but with only one start to chew on I think it'd be grasping for signal amongst too much noise.  The challenge for the Reds, and for Keyvius Sampson, will be to keep him throwing the ball over the plate over the remainder of the year.  If he can do that, I'd wager he has the stuff to have some success.  If not, things won't be pretty.

Monday, August 03, 2015

The Mike Leake Trade

The Reds have said goodbye to #44
Photo Credit: David
The Mike Leake era ended last week as the trading deadline approached.  No doubt having read my call to trade him (for the good of the Reds and for Mike Leake, himself), the Reds shipped him early Friday morning to the Giants in exchange for RHP Keury Mella and 1B Adam Duvall.

What the Reds Gave Up


Mike Leake, RHP, 27 years old
Mike Leake has been a favorite of mine since he was drafted out of Arizona State.  While he's always been in the background behind guys like Cueto, Latos, Arroyo, and Bailey, Mike Leake was involved in all three of the Reds' playoff teams in their recent run (2010-2013).  He literally contributed from day 1, making the Reds out of spring training in 2010 before he'd thrown a pitch in the minor leagues.  He's been remarkably consistent over that time, with a predictable recipe: he doesn't strike out a ton of batters, but he doesn't walk guys either, and he gets a lot of ground balls.  He's been particularly good over the past two seasons as he has gotten his ground ball rate up over 50%, and even spiked his strikeouts to almost 7 k/9 last season.

Despite his smaller frame, Leake has never really had injury problems.  He has been dependable, reliable, and as consistent as a mid-rotation starter will get.  He has always seemed like a good guy, too, despite his stupid shoplifting incident early on (which now is hilarious, in hindsight).  I'll miss him.  San Francisco should be a great fit for him (he will never give up home runs!  ever!), and I'll be cheering for him to get a nice payday this offseason with some deserving team.  He might end up being one of the better free agent deals; a still-young pitcher with reasonable inning totals, no injury history, and a guy who uses his defense.  The Pirates would love him, though I don't know if they'll be able to afford him.

What the Reds Got Back


RHP Keury Mella, RHP, 21 years old
Mella began the season as the Giants #4 prospect according to Baseball America, and by midseason they ranked him #2 in that organization thanks to improved secondary pitches.  Other prospectors have him #1.  Unfortunately, this is the problem with team prospect rankings: not all organizations are created equal.  Despite being one of the best prospects the Giants could offer, Mella most likely ranks behind two of the prospects the Reds received from the Royals for Johnny Cueto.  Kiley McDaniel rated him as a 45 future value prospect, noting that he had a violent dilivery and limited room to continue to develop.

Nevertheless, the results have been consistently good for Keury as he has moved through the Giants' system.  He is set to crack 100 innings for the first time this year, and is still just 21 years old.  The Reds hope he can stick as a starter, and noted that he can probably be a guy who moves quickly.

RHB 1B Adam Duvall, 26 years old
Since being drafted out of the University of Louisville (he's a native of Shively, KY, which is along the inner interstate loop around Louisville), Duvall's calling card has been his power.  He hit 30 home runs in 2012 for the Giants in high-A, and has sported .200+ ISO in all but his first minor league season.  The primary problem is that he doesn't have a lot of other skills.  He doesn't field well, though the Reds will see if might be able to play corner outfield.  His strikeout rates don't really look too terrible for a power hitter, but he hasn't been walking very much since reaching high-A.  This year, his walk rates are down even further, dropping from 8% in 2012-2014 down to 6%.  His upside looks like a potential bench guy who can provide power; that's something the Reds haven't really had since Chris Heisey was shipped to the Dodgers.


Compared to Other Rental Pitcher Deals

In my piece at Redleg Nation on the Cueto trade, I pulled up a set of comparable mid-season rental pitcher deals.  Leake would rank well behind guys like Cueto and Greinke, but fits pretty nicely with names like Matt Garza, Scott Kazmir, and Ricky Nolasco; guys who can provide roughly 1 WAR over two months' time.  ZiPS has Leake as providing 0.9 WAR of value over the rest of this season, which seems right to me.

How does this deal compare to those ones?  The Scott Kazmir return seems to be much better than what the Reds got.  Kazmir is having a nice season, but to net a 50 FV catcher (even one who might not be able to catch) along with a 40 FV pitcher is really good for him.  Garza's return also looks better, at least given what they knew at the time.  Grimm was a MLB-ready pitcher, albeit one who hasn't worked out so far in their rotation.  Mike Olt was a top prospect having vision problems, and again seems to not be working out.  But he still had a lot of pedigree at the time.

The return for Leake seems fairly comparable to what the Indians got for Justin Masterson (a 45 FV prospect, although in that case an outfielder), or the return for Jake Peavy last summer (Edwin Escobar as a falling prospect, Heath Hembree as a marginal one).  It seems clearly better than the nothingness the Marlins received for Ricky Nolasco in 2013.

So, based on all of those comparables, I see this is as a fairly even return given Leake's value.  We'll just have to hope that the Reds are right and Mella is able to stick as a starting pitcher.  If so, it'll look like a great deal a few years from now.  If not...well, a good bullpen arm still might be the best return the Reds could hope to get for Leake, given that he might well accept a $17 million qualifying offer if they had given it to him this fall.

Thursday, July 30, 2015

Why Mike Leake Should Threaten to Accept a Qualifying Offer

Mike Leake has millions on the line.
Photo Credit: Keith Allison
As of right now, we are just over 24 hours until the non-waivers trade deadline, and Mike Leake is still a Cincinnati Red.  The Blue Jays' acquisition of David Price is a blow, as the Jays had been connected in the rumor mill to Leake over the past few days.  Now, that's at least less likely to happen.  I'm sure that there still are suitors out there for Leake, and odds are that he will be moved.  But if I were Mike Leake, I'd be nervous.

The reason?

Mike Leake is a very solid pitcher.  He has been routinely worth between 2 and 3 wins over the past three seasons, and can absolutely be a valuable part of a contending team's rotation.  But he's not an ace, and will always have to answer skeptics due to his smaller size profile and low velocity.  He doesn't rack up strikeouts.  He gets ground balls, avoids walks, and fields his position well.  A free agent this offseason, Leake has earned a pretty nice payday.  I think he can reasonably look for a 3+ year contract at $10-13 million per season.  2016 will only be his age-28 season, and he has no history of injury, so I think clubs will be happy to pay him to lock down 180+ innings per season.

Aside from a late-season injury, there is really only one major pitfall that could derail his payday: compensation.  If the Reds fail to trade him, they will have the option to make him a qualifying offer, which will be somewhere close to $17 million for one year.  If he declines, then whatever team signs him will have to give the Reds their first-round draft pick in the 2016 draft as compensation for signing him.  If the Reds trade him, however, the team that acquires him cannot receive free agent compensation.

I like the principle of compensating teams who lose free agents.  The problem is that bonus to the team losing the free agent is paid by the team that acquires him.  Therefore, the acquiring team has to include the loss of a first-round pick as part of their calculations of how much they're willing to spend.  As a result, many mid-tier free agents in recent years have had a hard time finding a job, and ultimately had to accept a below-market deal, as a result of this compensation pick.  It directly cuts into their potential earnings, and ultimately has kept players from playing baseball.

So, if I'm Mike Leake, I would tell the Reds front office that I intend to accept a qualifying offer.  No player has ever actually accepted this offer (which boggles my mind), but even the threat of it might spur the Reds to action.  Bronson Arroyo commented that he'd strongly consider signing a qualifying offer as he approached free agency two years ago.  The Reds opted not to make an offer, and Arroyo went on to sign a 2-year, $23.5 million contract with the Diamondbacks.  If I were Mike, I'd make the same threat.  The Reds would most likely respond by either trading him now, or simply not making the offer this fall; I'm guessing that they are still too cash-strapped to risk it.  And letting Leake walk without getting anything for him would be completely unacceptable.  That leaves trading him as the most viable solution.

Whether he'd actually accept a qualifying offer, in that scenario, is another question.  The threat might be all that matters.

Postscript to Cueto Deal: David Price traded to Toronto

Postscript: David Price just got traded. I would probably rank Price slightly behind Cueto and Greinke (at the time of his deal), but I’m guessing you’d find those in industry who would prefer Price too. Price doesn’t have Cueto’s injury risk. 
The haul, according to:
http://www.mlbtraderumors.com/2015/07/blue-jays-to-acquire-david-price.html
Daniel Norris, LHP, Blue Jays #1 prospect, #18 in minor leagues, 60 FV at fangraphs
Jairo Labourt, LHP, Blue Jays #12 prospect w/ 45 FV during preseason
Matt Boyd, LHP, Blue Jays #29 prospect w/ 40 FV during preseason 
Another all-lefty prospect return! Crazy. 
Assuming the grades are “correct,” would you take a 60-45-40 FV return or a 55-50-40 FV return? I lean toward the return with the better marquee player, so I probably like the David Price return better. But if you believe There’s No Such Thing As A Pitching Prospect (which no one does literally, but there’s something to it), then you might take the Reds’ return. Thoughts?