Jorge Posada just signed a 4 year, $52 million deal. Mariano Rivera appears close to returning to the Yankees for another 3 years at $45 million. Today Yankees fans celebrate. Two years from now, we will be praying that they go Cory Lidle on us.
These contracts are almost guaranteed to end badly. Both men are already defying the odds by dominating at their respective ages.
While Jorge Posada is coming off of his best season, at 35, it's a bit much to expect him to rack up huge numbers until he turns 40. Posada is my favorite current Yankee, but I probably would have let him walk if he asked for any more than a 3 year deal.
Mariano Rivera turns 38 in 2 weeks and started to show signs of slipping this season. Yet they are paying him like he is going to relive '04 to '06 in '08 to '10. Highly unlikely. Forget 2010; Mariano will not be worth $15 million next year. In fact, I would be very surprised if we ever get more than one more vintage Mariano season.
I can live with the Posada deal, although it's a year too long. The likely Rivera deal is bat-shit crazy.