A lot of relievers are getting three-year deals. That’s a bit scary.

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UPDATE: Cameron expands on his analysis of multi-year deals for relievers here.

6:09 AM: It always takes a while for teams to turn to the bullpen during the offseason, but when they do, they tend to do it all at once. And it was certainly a big day for relief pitcher signings and rumors yesterday. Matt Guerrier, Kerry Wood and Jesse Crain signed. There’s action on Bobby Jenks and Octavio Dotel. I’m sure this will continue for a while.

Of particular note: Crain and Guerrier signed three-year deals.  As did Joaquin Benoit and Scott Downs recently. Three-year deals for relievers seem kind of nuts to me given how up-and-down almost every reliever’s performance tends to be. I hadn’t realized how up-and-down until I saw this tweet from Dave Cameron yesterday:

List of relievers who have signed 3+ year deals since 2006 and been worth the money: Rivera. That’s it. That’s the list.

He means free agent relievers, not necessarily young ones locked up by their teams during arbitration years such as Joakim Soria, but it’s still a pretty startling observation.  And even though Cameron doesn’t define “worth the money” in his tweet, it’s hard to come up with a single non-Mariano exception to the observation, even if you’re generous about what “worth” is.

The Jayson Werth deal signaled that baseball’s recent run of relative austerity was over.  The fact that setup guys are getting three-year deals like this is pretty darn good supporting evidence.

Angels sign Cody Allen to a one year, $8.5 million deal

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Ken Rosenthal of The Athletic reports that the Angels and reliever Cody Allen are in agreement on a one-year contract, pending a physical. The value of the contract is not yet known. UPDATE: Per Rosenthal, the deal is done at one year, $8.5 million.

Allen, 30, was looking for an opportunity to close and the Angels can certainly provide that. He will likely be the favorite to break camp as the closer. 2018 was the roughest year of his career, however, as he finished with a 4.70 ERA, 27 saves, and a 80/33 K/BB ratio in 67 innings. Among Allen’s six full seasons, his 27.7 strikeout rate and 11.4 percent walk rate represented career-worsts. FanGraphs also shows him losing nearly a full MPH on his average fastball velocity.

The Angels lost closer Keynan Middleton to Tommy John surgery early last season and he likely won’t return until the second half of the 2019 season. Blake Parker, who handled save situations in Middleton’s place, was non-tendered by the Angels in November and ended up signing with the Twins. The closer’s role is Allen’s to lose, it seems.