5 arbitration-eligible players who need to be extended now

Over the years, general managers have handed contract extensions to several players with years of team control remaining. Cleveland Indians infielder Jose Ramirez made GM Mike Chernoff look like a genius after the executive signed him to a five-year, $26-million extension on the heels of a breakout 2016 campaign.

Ramirez rewarded his organization with an MVP-like performance this past season, and the Indians have an integral piece locked up long term with a team-friendly financial commitment.

Here are five arbitration-eligible players who should be extended right now.

Alex Wood, SP, Los Angeles Dodgers

Status: 2nd year of arbitration

Age: 26

Projected 2018 salary: $6.4 million

Early in his career with the Atlanta Braves, Wood pitched to an impressive 3.30 ERA (3.34 FIP and 112 ERA+) in 67 starts. He has since taken another step forward, and now that he's a key member of the Dodgers' rotation, it's time to give the left-hander a long-term deal. Wood was fantastic this year - particularly in the first half, pitching to 1.67 ERA with 97 strikeouts in 13 starts. He provided additional value in the postseason by crafting a 2.92 ERA with 13 strikeouts in three appearances.

With Yu Darvish testing the market and Clayton Kershaw eligible to opt out of his contract after the 2018 season, the Dodgers would be smart to extend Wood beyond his remaining arbitration years.

Robbie Ray, SP, Arizona Diamondbacks

Status: 1st year of arbitration

Age: 26

Projected 2018 salary: $4.2 million

Much like Wood, this left-handed starter has been quietly productive for the past few years, and enjoyed a breakout performance in 2017. His 13-27 record over 2015 and 2016 means little, since Ray pitched as the No. 2 starter for a below-average team. As the Diamondbacks won 93 games this year, Ray got the recognition he deserves, posting a career-high 3.2 WAR and 12.1 K/9.

The D-Backs have a ton of arbitration-eligible players, but general manager Mike Hazen should capitalize on this opportunity and extend Ray. He could slot in behind ace Zack Greinke for years to come.

Anthony Rendon, 3B, Washington Nationals

Status: 2nd year of arbitration

Age: 27

Projected 2018 salary: $11.5 million

Bryce Harper receives all the attention in D.C., but the Nationals have another star in Rendon, who proved his worth with an MVP-level campaign in 2017.

His performance explains the substantial and well-deserved raise he's projected to receive in arbitration after earning $5.8 million in 2017. When healthy, Rendon is a six-win player. Wiping out his remaining arbitration years and signing him to a six- or even seven-year deal would give the Nats a valuable position player to build around in the event Harper bolts for greener pastures in 2019.

Marcus Stroman, SP, Toronto Blue Jays

Status: 2nd year of arbitration (Super Two status)

Age: 26

Projected 2018 salary: $7.2 million

If Blue Jays management wants to convince the team's fan base that a rebuild isn't on the horizon, it'd be wise to extend Toronto's best starting pitcher (in addition to keeping Josh Donaldson).

Since 2016, Stroman has pitched as an ace, eclipsing the 200-inning mark in back-to-back seasons while posting the second-best ground-ball rate (61.1 percent) in baseball. The Blue Jays' rotation should be a strength this coming season, but there's a lot of uncertainty beyond that with Marco Estrada and J.A. Happ slated to hit free agency in 2019 - even more reason to reward Stroman with a long-term deal now and keep the good times rolling.

Mookie Betts, OF, Boston Red Sox

Status: 1st year of arbitration

Age: 25

Projected 2018 salary: $8.2 million

Betts might not be interested in signing long term right away, but this isn't about him - it's about what the Red Sox need to do.

The Red Sox star joined talented, young, arbitration-eligible players such as Kris Bryant, Francisco Lindor, and Carlos Correa in reportedly turning down a contract extension. Betts and the aforementioned players have leverage, and would prefer to wait it out and get to free agency. That doesn't mean they will leave, but money is typically the deciding factor.

Boston, an organization with deep pockets, should do whatever it takes to sign Betts. If that means offering him 10 years and $200 million, so be it.

(Projected arbitration salaries courtesy: MLB Trade Rumors)
(Photos courtesy: Getty Images)