Blue Jays nearing five-year, $65M extension with Bautista

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UPDATE, 8:46 PM: Now Ken Rosenthal of FOXSports.com is reporting that the extension carries a $13 million club option for a sixth season. So it appears that $65 million of the new contract will be guaranteed.

8:39 PM: Forget the minor ankle injuries. There might be real news out of Blue Jays camp tonight.

According to Enrique Rojas of ESPN Deportes, Toronto is nearing agreement on a five-year, $65 million contract extension with Jose Bautista.

Initial reaction? It’s a big amount of money and a risky commitment for a guy who entered the 2010 season with a .729 career OPS to his name. Bautista was a journeyman during the first several years of his career and the Jays have now decided to reward him handsomely after his first breakout campaign.

Bautista led the major leagues in home runs (54) last year and tallied a cool 124 RBI against a .995 OPS. All of those numbers were career highs, however, and his batting line in 2009 looked far different.

Maybe Bautista really discovered something when he revamped his approach at the plate last spring and maybe he’ll be able to sustain his 2010 level of production over the course of the new deal, but it does seem unlikely. The Jays probably would have been better off reaching a one-year agreement with him this winter and allowing the 2011 season to play out. Bautista, 30, was in his final year of arbitration eligibility.

Indians sign Melky Cabrera to a minor league deal

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The Indians have signed free agent outfielder Melky Cabrera to a minor league deal. The pact is pending a physical.

Cabrera, 33, went unsigned this past offseason after putting up a season of .285/.324/.423 with 17 homers and 85 RBI with the White Sox and the Royals.

Cabrera will report to Columbus once he passes his physical and, according to Paul Hoynes, there are no guarantees being made to him that he’ll get playing time. That said, the Indians aren’t getting much outfield production from anyone besides Michael Brantley, and Cabrera’s status as a switch hitter would give Terry Francona some flexibility, so it would not be shocking to see him on the big club after some reps in the minors.