The Yankees have agreed to a one-year, $3.75 million deal with LaTroy Hawkins.
This is one of the most cost-effective signings so far this winter, and I can't believe Hawkins' agent couldn't have gotten him more money than this. Despite what you may have heard, Hawkins is a very effective reliever - his ERA+ has been above the league average in six years in a row, and 140 or higher in four of those six years (although the two years he was below that mark were the two before this one). The Brewers were willing to give up a prospect (not a very good one, but still) for the right to pay Salomon Torres $3.5 million, and Hawkins is a far better bet to pitch well next year than Torres. J.C. Romero is probably a worse pitcher than Hawkins, and he got $12 million this offseason. And prices may well get higher as the winter goes on. This is a very nifty signing by the Yanks.