Skyrocketing price tag just pushed this KBO breakout arm off the Astros' radar

Not every player gets it right the first time, and that was certainly the case for former Major League pitcher Cody Ponce. A former second-round draft pick of the Milwaukee Brewers in 2015, Ponce never lived up to the hype, and after a tumultuous tenure with the Pittsburgh Pirates from 2020-2021, went overseas to restore his career.

Ponce did just that, and after four years split between Nippon Professional Baseball and the Korea Baseball Organization, made his return to the big leagues after signing a three-year, $30 million deal with the Toronto Blue Jays.

Last season, the right-hander appeared in 29 games for the Hanwha Eagles of the KBO and posted an impressive 17-1 record with 252 strikeouts over 180⅔ innings pitched. He owned a sparkling 1.89 ERA and 0.935 WHIP.

Skyrocketing price tag pushed Cody Ponce right off the Astros' radar

Those numbers caught the eye of several MLB executives this offseason, and like so many before him — Erick Fedde, Nick Martinez, and Merrill Kelly, just to name a few — Ponce capitalized on his performance overseas and landed a hefty contract. More times than not, those types of contracts are seen as a sneaky way for organizations to buy low on a player's upside,

But because of the litany of recent success, Ponce's three-year deal is hardly the bargain that many expected when the offseason began. According to MLB insider Ken Rosenthal and Katie Woo of The Athletic (subscription required), many expected Ponce to command a three-year deal of at least $30 million, and possibly in excess of $40 million. The Blue Jays just made quite the gamble for a player who crashed and burned the last time he stepped onto a Major League mound.

While Ponce's KBO stats are to be commended, his 5.86 ERA and 1.536 WHIP in 20 career MLB games would hardly command a Major League contract worth $10-$13 million annually. In fact, that player would be fortunate to get a Minor League deal with an invite to spring training.

But with such a cry for starting pitching, perhaps Ponce will be worth the risk. The Houston Astros, however, thought better of it and bowed out of the bidding war for Ponce's services. While others have found success returning from the KBO, if Ponce's success failed to translate to the majors (at that price), the consequences for Toronto could be disasterous.