Though the Red Sox have no major free agents other than Jason Bay, their financial flexibility this offseason is similar to that of a year ago, when the Sox offered a whopping eight-year, $170 million contract to Mark Teixeira, who eventually signed with the New York Yankees. In lieu of acquiring Teixeira, the Sox effectively spent their money on John Smoltz ($6.9 million after bonuses), Takashi Saito ($6 million after bonuses) and Brad Penny ($5 million). Those three players alone cost the Sox a combined $17.9 million, not much less than the $21.25 million annual average the club offered to Teixeira.
The bad news? Smoltz was an enormous bust, Penny was a moderate bust, Saito was grossly overpaid. The good news? The Red Sox aren’t on the hook for any of them anymore, something of which Bay’s agent (Joe Urbon) is surely to remind the club if and when negotiations between the player and team reach a critical stage.
