Report: Angels sign Joe Smith to three-year, $15.75 million deal

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The setup market is all set up: Joe Smith and the Angels have come to terms on a three-year contract, according to Jon Heyman of CBSSports.com.

Yahoo! Sports’ Tim Brown reports that it’s worth $15.75 million.

Obviously, it’s a big price for a pretty anonymous guy, but Smith has a 2.97 ERA since entering the league in 2007 and has come in under that each of the last three years. He finished 6-2 with a 2.29 ERA and a 54/23 K/BB ratio in 63 innings for the Indians last season.

The big key with Smith is that he’s improved enough against left-handers these last few years that he can be left in to face them in big situations. When he first came into the league, he could only be trusted against righties. Lefties hit a modest .227/.325/.373 against him last season, and that was actually the best they’ve fared since 2010.

Smith will overtake Dane De La Rosa as the top setup man in front of Ernesto Frieri in the Anaheim bullpen. He’s an upgrade for sure, but at what cost? This is $5 million that can’t be spent to upgrade a rotation that has Garrett Richards for a third starter and some combination of Joe Blanton, Jerome Williams, Tommy Hanson, Wade LeBlanc and Chris Volstad next on the depth chart (Williams and Hanson are both non-tender candidates). The money would have been better used there. Between Frieri, De La Rosa, a much improved Michael Kohn, old standby Kevin Jepsen and other pieces like Ryan Brasier, Cory Rasmus, Juan Gutierrez and the newly acquired Fernando Salas, it seems like the Angels could have cobbled together the right-handed portion of their pen just fine.

Report: Phillies moving in on a deal with Tommy Hunter

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Update (8:40 PM ET): Joel Sherman of the New York Post reports that Hunter’s contract with the Phillies is for two years.

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There’s been a bit of confusion at the Winter Meetings. First, ESPN’s Buster Olney reported that the Phillies were close to signing free agent reliever Addison Reed. That report was then disputed by Jon Heyman of FanRag Sports. Matt Gelb of the Philadelphia Inquirer then reported that not only do the Phillies not have a deal with Reed, they’re actually moving in on a deal with free agent pitcher Tommy Hunter. Ken Rosenthal of The Athletic backed up Gelb’s report, as did Todd Zolecki of MLB.com.

Hunter, 31, spent the past season with the Rays, posting a 2.61 ERA with a 64/14 K/BB ratio across 58 2/3 innings. The right-hander, a veteran of 10 seasons in the majors, should be a good addition to the Phillies’ bullpen, which also recently added Pat Neshek. Neshek and Hunter will likely work the innings just ahead of closer Hector Neris.

As for Reed, well, who knows.