Sure but its a less than ideal scenario. If he is holding out for more money then it would be dumb because he would be missing 2.5 months of pay from 6 months. No one is gonna ear mark 14-15M mid season for Bautista because a lot can happen in 2 months. The teams that had that kind of money dont have the money or roster spot or else they would have signed him now.
He is better off lowering his demands now than waiting 2.5 months to get comparable money.
17.2M is worth 10.2M prorated from mid June onwards. He is better off taking 10-12M now than 10M or less in June and missing time. i doubt many teams have 10M to spend in June. He has more suitors now too than he would in June.
Dont need to do a study to tell you that missing almot 2.5 months isnt a good idea as 36 year old when teams already question your durability. You arent gonna be the same player or better after sitting for 2.5 months - can only get worse or stay the same best case... if Bautista does wait then he is another Jay FA taking more bad advice from his agent.
These are fair points, and I think it's why Bautista will sign soon rather than wait for June.
But to play devil's advocate: If I'm Washington or LA or Boston, I know I'll most likely make the playoffs, so if Bats misses the first third of the season and then takes a month to get going...it's not a huge deal as long as he's healthy and there for the second half run.
So if I'm them, and the choice is to give Bats $15 mil today + give up a first, which is valued at ~$10 mil...or wait for 2 months, give him a prorated salary for that amount and keep the pick...I probably chose the latter.
Granted, Bautista is assuming risk in this scenario, but perhaps he can make a verbal agreement with one of the aformentioned suitors to sign on June 14th for that predetermined amount. (assuming that's legal).
And while the two examples you've shown didn't work out for those players, it clearly shows precedent for MLB players sitting out until the pick compensation goes away, so it's not an outlandishly new notion.