MLB Rumors: Red Sox latest move means Kenley Jansen is good as gone

The Boston Red Sox have signed Liam Hendriks to a two-year, $10 million contract, per MLB.com's Mark Feinsand. Incentives could push the deal as high as $20 million, with a mutual third-year option also included.

Hendriks is a three-time All-Star and two-time AL Reliever of the Year. At 35 years old, however, he comes with his share of injury baggage. Last season saw Hendriks appear in five games total, posting a 5.40 ERA and 1.000 WHIP in 5.0 innings pitched. He underwent Tommy John surgery in August and isn't expected back until after the All-Star break in 2024.

That explains the heavy performance-related incentives. Even so, it's clear the Red Sox believe the former Chicago White Sox closer can return to form eventually. In the process of landing Hendriks, Boston has cleared the way for Kenley Jansen to finally find a new home.

Red Sox open door to finally trade Kenley Jansen with Liam Hendriks signing

Kenley Jansen has been a hot commodity in the MLB rumor mill of late. The talented 36-year-old — a four-time All-Star on the mound — finished last season with 29 saves, posting a 3.63 ERA and 1.276 WHIP in 51 games (44.2 innings pitched). He is expected to miss some time with "lat soreness," but Jansen has received trade interest from the Philadelphia Phillies, among other clubs.

The primary obstacle in a potential Jansen trade was the lack of an obvious succession plan. Now, the Red Sox have that. Even if Hendriks is expected to miss more time than Jansen, he should be back for Boston's postseason push — if the Red Sox can even claim to desire a postseason push based on their quiet offseason.

Generally speaking, new front office leader Craig Breslow has been a significant letdown in his first winter in charge. There is still time for the Red Sox to land a big fish, such as Jordan Montgomery or Blake Snell, but it would likely require Jansen's expiring $16 million salary to come off the books. Boston is playing too frugal a game to expect anything more.

Boston does ultimately have options. Both Jansen and Hendriks can still pack a punch in critical moments. Jansen led the MLB in saves in 2022 and made an All-Star appearance in 2023. Hendriks was a back-to-back All-Star for Chicago prior to the injury, and he happened to lead the AL in saves in 2021.

Their respective injury situations complicate the matter, but both project as rock-solid closers at full strength. There's a world in which Boston allows both to inhabit late-inning roles, but it feels redundant at a certain point. Rather than rostering two aging relief stars, the Red Sox should probably deal Jansen while he still has value and set the stage for Hendriks to take over. That appears to be the logic behind this move, at least from the outside.