Dodgers sign LHP Alex Wood

Why hello there, old friend.

After a quiet offseason, the Dodgers made another minor move with a lot of upside, as they brought back Alex Wood, signing him to a one-year contract.

According to Ken Rosenthal, Wood’s deal with the Dodgers is for one year, $4 million, with incentives that can push his total to $10M. The physical is complete, and the deal is done.

FURTHER UPDATE: All other outlets are reporting a $4 million base salary, so Heyman’s figure below is considered an incorrect outlier.

The AP did update the screencapped quote to read, “He gets one point for each start, or any relief appearance in which he gets 10 outs or more, and he will receive $250,000 each for earning 10, 12, 14, 16, 18 and 20 points. After that, he would get $500,000 apiece for earning 22, 24, 26 and 28 points.”

They do not report any restriction on when Wood enters a game in relief.

UPDATE: Per Jon Heyman, the base salary is $6 million.

Spelling out those incentives in more readable form:

• Wood earns one point for every game he starts, or for any game where he enters as a reliever in the third inning or earlier and pitches three or more innings (sounds like opener insurance). He earns a $250,000 bonus for accumulating 10 points, and an additional $250,000 for every two points after that, up to including 20 points. The bonus increases to $500,000 for each of 22, 24, 26 and 28 points.
• Wood also receives a $500,000 bonus for reaching 110 innings pitched and for every 10 innings after that, up to and including 150 innings.
• If Wood were to reach all of his incentives, he would earn $6 million, making his contract maximum $12 million.

Wood was with the Dodgers from 2015-2018. He came over in a mid-season trade with the Braves. During his time in LA, the southpaw went 31-20 with a 3.46 ERA. He struck out 401 batters in 434 ²⁄₃ innings, while posting a FIP of 3.50 and a WHIP of 1.17. He was an All-Star in 2017, and finished ninth in the Cy-Young voting after going 16-3 with a 2.72 ERA.

He was traded in the offseason last year, as he was dealt to the Reds along with Yasiel Puig, Kyle Farmer and Matt Kemp. The season didn’t go as Wood or the Reds had hoped, as he appeared in only seven games. He went 1-3 with a 5.80 ERA. Wood began the 2019 season on the Injured List with a back injury, and didn’t make his first appearance until the end of July.

Being only a one-year deal, this is a great move for LA. Wood is familiar with LA, and maybe being back with the Dodgers will help him bounce back from a forgetful 2019 season. With questions in the starting rotation, there’s a good chance Wood can find himself getting a good amount of starts next season, assuming he can stay healthy. Wood also has experience as a reliever. He’s come out of the bullpen 43 times, posting a 2.70 ERA and averaging 10 strikeouts per nine innings.

Welcome back, Woody.