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Report: BJ Ryan Signs with Toronto

So says the New York Daily News. The contract: 5 years, $47M.

If you've been reading this blog, you'd know that I like BJ Ryan a lot. But at that price and for that length? No thanks. I just can't wrap my head around giving a reliever a 5-year contract. Maybe it's me, or maybe it's just this year's free agent market.

Update [2005-11-27 0:19:33 by Ryan]: Ken Rosenthal gives his thoughts on the signing. According to him, the Indians were the ones driving up the price:

Granted, the Jays must overpay to lure U.S.-born players to Canada. Granted, the team plans to spend $160 million in payroll over the next two seasons. And granted, the competition for Ryan was considerable; the Indians were willing to go four years and possibly five for the closer, though not at the average annual value the Jays reportedly will pay.
I guess if there's a silver lining to losing out on Ryan, it means the Indians have the opportunity to spend the money earmarked for Ryan on more productive positions than closer.