$26 million? Really?
I realize that people have been scratching their heads over the Yankees' $26 million bid for the rights to Kei Igawa, but the move makes total sense to me.
Who knows how good Igawa will be? I doubt the Yankees are expecting more than for him to be a No. 4 or 5 starter. He is no Matsuzaka, this much we know.
The Yankees bid $32 million for Matsuzaka, fully believing that their bid would be competitive. The Red Sox crushed it with a $51.1 million bid of their own. This time, the Yankees weren't going to be outbid for another guy they wanted.
But at $26 million, plus the $15-20 million he is expected to sign for, the Yankees will pay out about $45 million for him over four years. Had they decided to give Ted Lilly or Gil Meche the same money (they, too, would have been No. 4 or 5 starters), the Yankees would have been subjected to an additional $16 million in luxury tax. With Igawa, they are only on the hook for whatever his contract is in terms of luxury tax, so the cost is much less.
Would you feel any better with Lilly or Meche? Maybe. But who knows, maybe this kid turns out to be pretty good. Gaku Tashiro, my colleague from Sankei Sports newspaper in Japan, compared Igawa to a "skinny David Wells," a comparison I found quite amusing.
I think the Yankees will probably get one more starter this winter, though they don't really need to. They're confident that Scott Proctor could start if necessary, and with Jeff Karstens, Darrell Rasner, Phil Hughes, Humberto Sanchez and Tyler Clippard at Triple-A, they can always hold the fort if Randy Johnson's back or Carl Pavano's entire body aren't ready by Opening Day.
Give Igawa a chance. He could be the next Hideki Matsui, or he could be the next Hideki Irabu. Only time will tell.
I will be co-hosting the Hot Stove Show with Seth Everett on Monday from 4-6 p.m. ET, then again on Tuesday from 3-5 p.m. ET. 
