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Update: Garland signs... for less than expected

Two weeks after he passed at a guaranteed two-year contract worth a reported $14 million, former Angels and White Sox starter Jon Garland on Wednesday inked a one-year contract with Arizona that pays about $6 million in 2009 with a $2 million buyout or a $10 million option in 2010.

If you think it sounds bad that he passed up $14 million over two years to get $8 million for one year, don't forget that Garland was assured a one-year contract in the amount of about $12 million if he would have accepted an offer of arbitration from the Halos.

The option is a bad deal for Garland in that if the market continues to slip, it will certainly be declined. But if the price of pitching goes back up, he is going to lock himself in for less than he might have got as a free agent.