Why doesn't anyone ever overpay Bob Howry?

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Bob Howry is apparently one of the most underrated or at least unluckiest relievers in baseball, because for the second straight offseason he’s managed only a one-year deal for modest money while inferior relievers get multi-year pacts for several times as much.
Brandon Lyon got $15 million over three years from the Astros. Fernando Rodney got $11 million over two years from the Angels. LaTroy Hawkins got $7.5 million over two years from the Brewers. John Grabow got $7.5 million over two years from the Cubs. Yet over the weekend Howry inked a one-year, $3 million contract with the Diamondbacks after playing last season on a one-year, $2.75 million deal with the Giants.
During the past half-dozen seasons Howry has had an ERA above 3.39 once, and in the other five years posted marks of 2.47, 2.74, 3.17, 3.32, and 3.39. He’s also been very durable, making 79, 84, 78, 72, and 63 appearances in the past five seasons. Among all active relievers with at least 500 appearances Howry’s adjusted ERA+ of 125 ranks 10th, and in the past six seasons only Mariano Rivera, Joe Nathan, Francisco Rodriguez, Francisco Cordero, Scot Shields, Chad Qualls, and Scott Linebrink have logged as many innings with a better ERA+.
Howry is 36 years old, next season will be his 13th in the big leagues, and he’s had a below-average ERA twice, yet after signing a one-year deal with the Diamondbacks he’s earned around $22 million for his entire career. Not bad money, obviously, but Lyon was just handed $15 million for three years and Danys Baez just finished a three-year, $19 million deal. Sometimes it seems like general managers randomly decide which relievers to overpay, and for whatever reason that dart has never really landed on Howry.

Jose Bautista and the Blue Jays nearing a two-year, $35-40 million deal

Toronto Blue Jays Jose Bautista flips his bat after hitting a three-run homer during seventh inning game 5 American League Division Series baseball action in Toronto on Wednesday, Oct. 14, 2015. (Nathan Denette/The Canadian Press via AP) MANDATORY CREDIT
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It was first reported that the Blue Jays and Jose Bautista were close to a deal last night. Now Ken Rosenthal reports that the deal is near completion. It will likely a two-year contract in the $35-40 million range.

Bautista had a tough 2016, hitting .234/.366/.452 with 22 home runs and 69 RBI, and some clubs likely considered a long-term deal for the 36-year-old too risky, this leading to the relative lack of reported interest in Bautista by other clubs. But back-to-back ALCS appearances by the Jays and the success and popularity Bautista has experienced in Toronto make his re-signing there a pretty sensible move for all involved.

The Jays, who already lost Edwin Encarnacion to free agency, get their slugger back on a short term deal. Unlike anyone else, they don’t have to give up the draft pick attached to him via the qualifying offer. Bautista, in turn, will make, on average, more than he would’ve made on the qualifying offer if he would’ve accepted it and a raise over the $14 million he made in 2016.

Padres sign Trevor Cahill

Chicago Cubs relief pitcher Trevor Cahill (53) during the seventh inning of Game 3 in baseball's National League Division Series against the St. Louis Cardinals, Monday, Oct. 12, 2015, in Chicago. (AP Photo/Paul Beaty)
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The Padres have signed Trevor Cahill to a one-year, $1.75 million contract.

As recently as the middle of the 2015 season it looked like Cahill’s career would meet a premature end, but after being released by the Braves and signing with the Cubs in August of that season he has been a remarkably effective reliever. He has posted a 2.61 ERA in 61 games in Chicago and has posted a strikeout rate far above his career norms.

He’s not someone you necessarily want taking the hill when the leverage is high, but in San Diego the leverage won’t be all that high all that often.