UPDATE: Darren Oliver agrees to a deal with the Rangers

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UPDATE: T.R. Sullivan of MLB.com reports that Oliver and the Rangers have reached a deal for $3.5 million with a vesting option for 2011.  The option may be moot, however, as Oliver has said that he’ll probably retire after 2010. I suppose that all depends on how 2010 goes for him on the field.

8:00 A.M.: ESPN’s Jerry Crasnick reports that Darren Oliver and the Rangers are near a deal. No sense on what the money is, but he says it could be done early this week.

Oliver made $3.665 million last year and posted a career-best ERA for a second straight season, finishing at 2.71 in 73 innings. He was probably the Angels’ best reliever, and if it weren’t for the fact that Anaheim has a handful of crummy contracts with other guys (Justin Speier, Brian Fuentes, Scot Sheilds) Anaheim probably would have offered him arbitration which would have effectively ensured his return.

Just a lesson that, more often than not, a handful of bad, mid-range deals can handicap a team far worse than a big bad contract can.

Gallegos agrees to 2-year, $11M contract with Cardinals

Atlanta Braves v St. Louis Cardinals
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ST. LOUIS – Reliever Giovanny Gallegos and the St. Louis Cardinals agreed to a two-year, $11 million contract, a deal that includes a club option for 2025 and escalators that could make it worth $20.5 million over three seasons.

The 31-year-old right-hander is 3-5 with a 2.91 ERA and 14 saves in 20 chances this season. He has 72 strikeouts and 15 walks in 58 2/3 innings.

“I feel so happy,” Gallegos said before the Cardinals played the Pirates in Pittsburgh. “I don’t have the word for exactly how I’m feeling.”

He was obtained from the Yankees in July 2018 along with left-hander Chasen Shreve in the trade that sent first baseman Luke Voit to New York. Gallegos is 14-15 with a 3.02 ERA and 34 saves in six major league seasons.

Gallegos gets a $500,000 signing bonus and salaries of $4.5 million next year and $5.5 million in 2024. St. Louis has a $6.5 million team option for 2025 with a $500,000 buyout.

His 2025 option price can increase by up to $3.5 million for games finished in 2024: $500,000 each for 20-25 and 26-30 and 31-35, and $1 million apiece for 36-40 and 41 or more.

He would get $250,000 for winning the Rivera/Hoffman reliever of the year award, $50,000 for All-Star selection and World Series MVP and $25,000 for League Championship Series MVP.

Gallegos has a $2.41 million salary this year.

He was eligible for salary arbitration and is potentially eligible for free agency after the 2024 season.