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.

Troy Tulowitzki held a workout for eleven clubs

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Yesterday free agent shortstop Troy Tulowitzki held a workout in California and representatives from at least eleven teams were on hand, reports Tim Brown of Yahoo. Among the clubs present: the Giants — who were said to have a “heavy presence,” including team president Farhan Zaidi and manager Bruce Bochy — the Angels, Red Sox, Cubs, Padres, White Sox, Orioles, Yankees, Phillies, Tigers and Pirates.

Your first reaction to that may be “Um, really? For Tulowitzki?” But a moment’s reflection makes it seem more sensible. We’re so tied up in thinking of a player through the filter of their contract and, when we’ve done that with Tulowitzki over the past several years, it has made him seem like an albatross given the $20 million+ a year he was earning to either not play or play rather poorly due to injuries.

It was just the contract that was the albatross, though, right? An almost free Tulowitzki — which he will be given that the Blue Jays are paying him $38 million over the next two seasons — is a different matter. If you sign him it’ll be for almost no real money and he stands a chance to be an average or maybe better-than-average shortstop, which is pretty darn valuable. You might even get one quirky late career return-to-near-glory season from him, in which case you’ve hit the lottery. If, however, as seems more likely, he just can’t get it done at all, you’re not out anything and you can cut him with little or no pain.

Eleven teams think he’s at least a look-see. I bet one of them will offer him a major league deal. Maybe more than one. He’ll probably have his pick of non-roster invites to spring training. I can’t see the downside to at least doing that much.