The Padres, much to my chagrin, have agreed to a two-year contract extension with closer Huston Street, taking him through 2014 with an option for 2015. The deal is worth $14 million, and the option is for $7 million. This news was first reported by Corey Brock of MLB.com.
The 28-year old Street, who will turn 29 next week, has been one of the better closers in baseball during his career, saving 195 games with a 2.97 ERA in 466 career innings. This season could possibly Street's best, as in just 29 2/3 innings he's struck out 39 while walking only eight with a microscopic 0.91 ERA. $7 millino is a good value for him.
But at the same time, as I've relentlessly argued in the past, a closer is a luxury item that a team like the Padres shouldn't be throwing a ton of money at. Even aided by Petco Park, the Padres rotation has a 3.98 ERA and has accrued just 3.2 fWAR this year. 13 different pitchers have gotten starts, including six each for washed up veterans Jeff Suppan and Kip Wells. Hell, their best starters this year have been Edinson Volquez and Jason Marquis. Cory Luebke won't be back until the middle of next year after Tommy John surgery. Paying $7 million for between 50 and 60 innings of work just isn't something I'd recommend when your rotation is as horrendous as San Diego's.
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