Bronson Arroyo is close to finalizing a three-year contract with the Red Sox, according to the Boston Globe.  The total value of the contract will be something like 12 MM, which is a bargain considering his career ERA+ (100, exactly average), age, and apparent durability.  Heck, that contract would be a bargain for an above-average reliever.

What's the downside for Arroyo?

...being signed at a fixed cost for a duration of some length ... also would appear to make Arroyo more vulnerable to being dealt to a team such as Tampa Bay, which is seeking affordable starting pitching and has a player the Sox covet in shortstop/leadoff hitter Julio Lugo.

I, for one, would find this sort of loyalty refreshing but for two facts:

1. Why is this happening with Red Sox, who can actually afford to pay market price for pitching?
   
2. Major league clubs are about as loyal as that one guy you know who is totally not loyal.

This contract is not as bizarre as Tim Wakefield's reserve-clause contract.  But the Red Sox sure do get an awful lot of production from their low-monetary value contracts - David Ortiz, Arroyo, Trot Nixon, Wakefield - while Keith Foulke and The Man With the Bloody Sock get a boatload of cash for stinking it up.

The Toronto Star takes a look at the Jays' increased payroll.  Verdict: they're pretty much at their limit and should probably forego Bengie Molina.  

Speaking of Molina, it appears he - or his agent - overplayed his hand when he declined the admittedly lowball offer (6 yrs/18MM) the Mets gave him.  The Dodgers may offer him a one-year deal, which would make no sense given their current catcher situation.  The Yankees reportedly had interest in signing Molina, but now they deny, deny, deny.  Flirts.

The Braves have no closer.  They've struck out on Kyle Farnsworth, Trevor Hoffman, Bob Wickman, Todd Jones, and now Danys Baez.  I understand that they also can't get a date to the NL East formal this spring.  If Mazzone were still around, they would probably resurrect Billy Koch or, hell, Dan Quisenberry to post a sub-2.00 ERA and 55 saves.  Now...we'll see.