The Padres signed Jon Garland to a one-year deal with a mutual option for 2011. Garland earns $4.7MM in 2010, plus another $600K if San Diego buys out his $6.75MM mutual option for 2011.
I was against the Mets signing Garland this offseason -- but that was based on the premise that he would cost a lot more than that. Garland for one year, $5 million is a fantastic deal.
Garland has posted a FIP of between 4.24 and 4.76 every year for the last five years. He's been worth approximately 3 WAR per season over that span - with four of five years worth 2.4 WAR or more.
He's probably as safe a bet as anyone to post another season just like those - with an ERA around 4.50, earning a salary (according to the fangraphs calculations) of around $10 million as a free agent.
There are a lot of rumblings that Garland may not have wanted to come to the East Coast regardless of money - but you have to think that if Omar had offered him one year and $6 million guaranteed, he would have listened.
You have really got to wonder what is going on over there in Mets-land, now that we've missed out on Sheets and Garland. Is it part of a plan? Do free agents just not want to come to New York? I'm not ready to call for Omar's job yet, but it is curious to say the least to see Garland go to a last-place team for so little money.
The above image was borrowed from Sons of Steve Garvey, which is actually a pretty funny read.