I couldn’t agree more, though no word of denial from Theo yet. Perhaps he, too, is trying to drive up the Yankees costs. But that’s only going to come back and bite him in the ass. Theo needs pitching too, and if he sends the price up for Pettitte, everything else gets more expensive too. My feeling is that Cashman has handled this one appropriately. There’s pitching out there in the market, and he has the cash and player maneuverability to go get it. Signing Pettitte (or any pitcher) to a big deal during the season is serious financial risk. Sure, if he had signed Pettitte to a 3 year $30 million deal during the year, he would be looking good now. But what if Pettitte had hurt his shoulder or elbow over the last 2 months of the season (a not altogether unlikely scenario)? Then he’s out $30 million, plus another $10-15 million per year to replace Pettitte on the free-agent market. So the cost of that one pitching slot is potentially $25 million per year for multiple years. Now, even if he has to bid competitively for Pettitte, he will probably be able to fill that slot for less than $15 million. So if you think about 3 year deals, just for the purpose of argument, Cashman had to weigh a potential savings of roughly $8-10 million against a potential outlay of nearly $60 million. And now he has freedom.
Posted by YF on 11/19/2003 04:26:19 PM