Stunned Update

Yahoo reports that the Angels have just signed shortstop Orlando Cabrera to a four-year deal worth $8 million a year. In related news, Placido Polanco apparently wasn’t wanted by any major league team and accepted arbitration from the Phillies.

I originally said that this must be the worst signing of the offseason, but my Fair Market Value calculator indicates that it isn’t really out of line if you assume:

1. He’ll create 77 runs next year (per the Bill James Handbook), and
2. He’s a great defender

My bottom line is that I still think this is a bad deal, but probably not the worst of the offseason. Given the salaries being thrown around, however, I’m amazed Polanco didn’t get a nice deal from someone. His bat is better than Cabrera’s and he’s a fine defender. For no good reason that I can see, he’s stuck with the “utility infielder” tag.