What does Werth’s $126 million do to the market?

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The Hot Stove is roaring after the Nationals shattered expectations by giving Jayson Werth a seven-year, $126 million deal that matches Vernon Wells’ Blue Jays pact for the third biggest ever given to an outfielder. Only Manny Ramirez, guaranteed $160 million by the Red Sox, and Alfonso Soriano, $136 million from the Cubs, ever received more.

According to ESPN’s Buster Olney, Werth’s deal has “stunned people in the game” and “execs are going nuts about the terms.”

He adds that the last contract to generate the same kind of furor was Kevin Brown’s seven-year, $105 million deal with the Dodgers signed way back in 1998.

We’re guessing that’s hyperbole, but this is the kind of thing that can happens when a down-and-out team needs to make a splash. It brings to mind the Tigers spending $40 million on Ivan Rodriguez in 2004 and $75 million on Magglio Ordonez the following winter.

But Werth is hardly the first player to exceed expectations this winter. John Buck, who received a $2 million deal last winter, got three years and $18 million from the Marlins. Setup man Joaquin Benoit received a three-year, $16.5 million contract from the Tigers. Juan Uribe, who certainly wasn’t offered any multiyear contracts as a free agent both of the previous two wints, received $21 million over three years from the Dodgers.

So, Carl Crawford and Cliff Lee have to be licking their lips. The Angels and Red Sox can claim all they want that the Nationals overpaid for Werth because of their situation, but Crawford is the better bet of the two going forward and he has a great argument for an eight-year deal now. Lee would certainly seem to be worth $23 million per year in this climate.

It may not happen this week, but odds are that Werth’s megadeal is going to be topped at least twice in the near future and probably again in the spring in a Red Sox extension with Adrian Gonzalez.

Yankees activate Giancarlo Stanton

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The New York Yankees have activated Giancarlo Stanton. He’ll be in the lineup in tonight’s game against the Rays.

Stanton has been on the injured list since April 1 due to a left biceps strain and a left shoulder strain sustained in what Aaron Boone called a “funky swing” at the time. He began a rehab assignment in late May, had it halted due to injury, and resumed it recently. He’s been swinging the bat well during his most recent stint, socking four homers in ten games.

That pop will be welcome. The Yankees have weathered Stanton’s injury — and injuries to Aaron Judge and scads of other players — but a team can’t defy gravity forever. At some point you need your established threats back. With Stanton coming back tonight, Judge coming back later this week and with the addition of Edwin Encarnación in that trade with Seattle, the Bombers should continue to hit bombs throughout the summer.