Since Club Seat’s Top 5 Overpaid NBA Players we did back in April was so well received, we decided to do it again, but this time in the MLB.  In case you didn’t know, Forbes did their own top five and it went as follows: Derek Jeter, Torii Hunter, Carlos Beltran, Ramon Hernandez, Matt Holliday.  Leave it up to the “Capitalist TOOLS” to come up with a list like that.  Don’t worry, we won’t.

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5. Julio Lugo – IF – St. Louis Cardinals: $9,250,000

How does a guy like Lugo even get a $36 million deal in the first place?  He’s a career .271 hitter, has never scored a 100 runs in a season, and he’s not even great defensively (.965 FPCT).  He rewarded the Sox when he was signed by hitting .237 with 19 errors in 147 games in ‘07.  Since then the train wreck has continued and Lugo was traded to the Cards who shouldn’t have given up more than a rosin bag and pack of sunflower seeds.  Oh, and he’s due another $9 million next year.

4. Jeremy Bonderman – SP – Detroit Tigers: $12,500,000

Bonderman has only tossed 10.1 innings this year yet he cashed in.  He made $8.5 million last year while posting a 4.29 ERA in 71.1 innings, and he’s also due another $12.5 million next season.  Looks like he’s getting paid for ‘07 when he was 9-1 before the break, and not his 4.78 career ERA and 19-33 lifetime record after the break.

3. Eric Chavez – 3B – Oakland A’s: $11,500,000

Chavez hasn’t been good since ‘05, but he’s made $42 million since.  Over the past three seasons he has played in 121 games out of a possible 486 (only 8 this year).  Don’t you wish you could only work 25% of the days you are supposed to and still make the same amount?  The highest Chavez has hit in the past four years was .241 back in ‘06.  He’s still set to make $12 million next year, and if the A’s wish to decline his ‘11 option, that will cost them another $3 million from a buyout.

2. Carlos Silva – SP – Seattle Mariners: $12,250,000

Probably my favorite on the list.  Silva singed a $48 million deal before the ‘08 season and went 4-15 that year with a 6.46 ERA ($8,250,000).  This year he went 1-3 with a 8.60 ERA in 30.1 innings.  I’m sure the Mariners love that they’re only half way though his contract.  That’s what I call some good return on investment.

1. Jason Schmidt – SP – Los Angeles Dodgers: $15,217,401

I wouldn’t be surprised if the Dodgers invested in a time machine after acquiring Schmidt three years ago.  In ‘07 he only threw 25.2 innings, he missed all of ‘08, and this year he only threw 17.2 innings while being the 19th highest paid player in baseball.  The best part about all of this?  He racked up $47 million over those three years.  Only in America.