Eric Milton Signs Monster Deal
Yes, Cincy overpaid for ERIC MILTON. That's obvious, there's no point in mulling over that issue anymore. The question is: Why? I have a few suggestions...

1) They were in a bidding war and went over the top to secure Milton
2) They're ignorant and out-bid themselves a la TOM HICKS with ALEX RODRIGUEZ
3) This is another example of the market for starting pitching

This whole situation points to the fact that the market is imperfect (easy there, economists). Players don't sign deals that accurately reflect their value to a team. There are so many other factors such as interest from other clubs and the market value of a player that year. When MANNY RAMIREZ signed his huge deal a few years back it didn't seem as much of a burden to Boston as it does now. Still though, 3 years 25.5 mil for a guy with a career 4.76 ERA? I know sometimes you have to go over the top to get the guy you want or to get the player you think is going to take you to that next level. Nobody can argue that the Reds are one Eric Milton away from the promise land.