I agree with Craig that signing Chan Ho Park for just $1.2 million is a very good deal for the Yankees. He has a 3.29 ERA and 101/44 K/BB ratio in 120 innings as a reliever over the past two seasons and at the very least can be a good second-tier setup man behind either Phil Hughes or Joba Chamberlain.
Park was available at such a discount because earlier this offseason he turned down a one-year deal worth $3.25 million to re-sign with the Phillies, who then used that money on Danys Baez instead. Once returning to Philadelphia was no longer an option Park was apparently left to choose between lesser offers from the Cubs and Nationals, until his asking price dropped enough that the Yankees swooped in. Here’s Park to explain his decision:
I was deliberating on the Cubs and the Yankees, but their history and championship contention resulted in me picking the Yankees. Until last night, I was leaning toward the Cubs. I wanted to play for a champion-caliber team this year again. I am not certain how much longer I will play baseball, but it will be huge experience and memory to play with the Yankees.
Park has earned approximately $85 million in salary during his 16-season career, so the Nationals probably never had a chance.