Since I haven’t picked on the Red Sox yet this season… over at the premium portion of Baseball Prospectus, Joe Sheehan wries about the Red Sox decision to pick up Pedro Martinez’s option for 2004. Martinez, who’s got more whine than Ernest and Julio Gallo, successfully spun the situation in his favor such that the Sox acted seven months early in guaranteeing his $17.5 million contract, and when they capitulated the headline included the word “Finally.”

Here’s a sampling of what Sheehan has to say:

I don’t like the decision to pick up the option. I just don’t trust pitchers, especially ones who have to be babied just to get them to 200 innings. As great a pitcher as Martinez has been, he hasn’t been a workhorse since 1998, and as recently as 2001 was limited to 18 starts and 116 2/3 innings. … In just one season in Boston has Martinez been a reliable member of the rotation from April through September, which is reflected in where he ranks among his peers in workload:

Rank, American League innings pitched, 1998-2002: 7, 8, 7, 60, 20

Rank, American League games started, 1998-2002: 6, 33, 29, 55, 23

Ouch. Glad it ain’t my money.

As I’ve been meaning to point out, thus far I’m very happy with the bang for the buck Prospectus Premium has provided. It’s great to have Sheehan back, and Will Carroll’s Under the Knife column has been essential during these days of dislocated shoulders. Their free April Fool’s features (Tejada re-signing with the A’s, Doug Pappas defending Bud Selig’s take on the game’s finances, and some unlikely quips in Ryan Wilkins’ The Week In Quotes column) are still worth a laugh if you haven’t seen them. At least one of my blogging colleagues fell for it hook, line and sinkerball.