Inside MLB | Introducing the five best bargains of the 2008-09 offseason

    With the offseason winding down and spring training games finally kicking into gear, it's time to take a look back at a winter unlike any baseball has seen before.
    Major League Baseball has mostly been spared by the economic crisis that hit industries worldwide, but it has forced teams to adapt their business practices. Some owners — such as the New York Mets' Fred Wilpon and the San Diego Padres' John Moores — have been seriously affected and forced to tighten the payroll constraints on their general managers. Others have simply changed their philosophy on dishing out long-term contracts, in part due to the poor recent history of such deals, but chiefly because of the potential for an even harsher economic downturn in the future.
    As teams shrank their budgets, the players who opted to test the free agent waters this winter found themselves drowning. Those who declined arbitration or waited for lucrative proposals to come their way — such as Manny Ramirez and Jason Varitek — have not been pleased, and, in times like these, even the phenomenal negotiating power of Scott Boras couldn't save them.
    Not surprisingly, the teams that have been able to dodge the economic bullet were greatly favored this offseason and found plenty of quality players available at bargain prices. The five best value signings of the winter are detailed below:
    San Francisco Giants sign Jeremy Affeldt.
    Jeremy Affeldt was the first free agent to sign this winter when he agreed to a two-year, $8 million contract with the Giants way back on Nov. 17. The 29-year-old lefty was the best of a decent crop of southpaw relievers available, and while his decision to sign early gave him financial security, Brian Sabean nabbed him at a rather low price.
    Affeldt will be well worth his $4 million annual salary to the Giants, whose bullpen was saddled with 28 losses and a bloated 4.45 ERA last season. A converted starter who posted solid numbers as a reliever the past two years, Affeldt was a key late-inning cog for the Colorado Rockies in 2007 and the Cincinnati Reds in 2008. His ability to get both lefties and righties out makes him more valuable than LOOGYs (Lefty One-Out Guys) like Joe Beimel and Dennys Reyes, who are still looking for jobs.
    With the mercurial Jack Taschner and the inexperienced Alex Hinshaw as their only southpaw relievers for much of last season, the Giants will be glad to have Affeldt in 2009.
    Oakland A's sign Jason Giambi.
    The A's first added Matt Holliday to their lineup via an early offseason trade with the Rockies before further fortifying a previously dormant offense by bringing back Jason Giambi on a one-year, $5.25-million hitch with an option for 2010. The 38-year-old posted a .875 OPS and mashed 32 homers for the New York Yankees last season, making him an ideal addition to an A's lineup that ranked near the bottom of the league in both of those categories in 2008.
    It's worth noting that Giambi does come with a cost — namely, his lack of range and flexibility on defense. The presence of the defensively challenged Jack Cust and the fragile Eric Chavez in Oakland makes it unlikely that Giambi will have many opportunities to DH. But Billy Beane's willingness to take a chance on his glove in order to benefit from his bat figures is a worthwhile gamble for the much-improved A's.
    Los Angeles Angels of Anaheim sign Bobby Abreu.
    Forced to counter Oakland's offseason additions to remain the favorite in the AL West division, the Angels' offense could not simply absorb the loss of Mark Teixeira and Garret Anderson. With young Kendry Morales expected to take over at first, GM Tony Reagins chose instead to focus on the free-agent class of power-hitting outfielders.
    Owner Arte Moreno determined that Manny Ramirez was out of his price range and was at first hesitant to go after Adam Dunn and Bobby Abreu as well, but a one-year, $5 million commitment to a guy with a .903 career OPS barely put a dent in his wallet.
    At 35 years of age, Abreu is certainly on the down slope of his career, but he posted a robust .327/.408/.522 line with 10 homers after the All-Star Break last season. Even with diminishing defensive skills, he should be worth far more than what the Halos will pay him this season.
    Los Angeles Dodgers sign Orlando Hudson.
    The most recent of the five signings detailed here, Orlando Hudson's free agent stock was marred by a wrist injury that shelved him for a big chunk of the 2008 season and by his Type-A status, which meant that the team that signed him would lose its first-round pick to the Arizona Diamondbacks.
    Still, considering his elite defense and .305/.367/.450 line for Arizona last year, the O-Dog's performance should outweigh his one-year, $3.4 million deal with the Dodgers, which also includes $4.6 million in incentives.
    By adding Hudson, the Dodgers gain a reliable table-setter for their lineup — which may or may not include Manny Ramirez — and a three-time Gold Glover to solidify their infield defense. Hudson is also known for being one of the best clubhouse guys in baseball. All that for a maximum cost of $8 million is a nifty deal for GM Ned Colletti, whose history with free agents is riddled with costly mistakes.
    Tampa Bay Rays sign Pat Burrell.
    After the Philadelphia Phillies curiously chose to bring in Raul Ibanez rather than keep Pat Burrell, the 32-year-old found a home with the Tampa Bay Rays, signing for $16 million over two years on Jan. 5. Even with some defensive concerns, his 33 homers and .874 OPS from last season would have easily yielded more than that in a different economy.
    GM Andrew Friedman needed to add a potent right-handed bat to the heart of his lineup, and Burrell fits that description perfectly. His power is not a product of the dimensions of Citizens Bank Park — evidenced by the fact that he hit 21 of his 33 homers on the road last season — and Burrell's .250 average was mainly the result of a summertime slump, so an uptick in that category is also possible.
    Two years ago, in a market that favored the players, Barry Zito came away with $126 million and Alfonso Soriano nabbed $136 million. Neither has proved worthy of his lofty contract, and that, in tandem with the severe economic recession, appears to have taught teams a valuable lesson.
    Now that the tide has turned, this winter's bargains are their revenge.