The Yankees have cultivated a reputation as free-wheeling spenders during the Big Stein era, shelling out the big bucks to bring Bombers to the Bronx, and more than a few people have criticized the club for “overspending” on big names. Contracts like those of A-Rod, Giambi or Damon may have seemed extravagant in their day, but this year’s free agents have milked the meager market enough to make the Yanks’ blockbuster deals look like bargains. One needn’t look any further than the contracts inked this past week to see some true overspending:

Along with Barry Baked Ziti and Mr. $50 million cup of coffee Matsuzaka, Soriano was arguably the most-hyped free agent available for 2007. I’m sure the Cubs are hoping that the mega-ultra-multi-million dollar deal they gave Sori (left; he's clearly already used his cash to pimp his ride) will pay off come October, but its going to be a long 8 years for Cubs fans if he doesn’t perform. He had a great 2006 season with the Youppi-less Nationals and hits enough homers to make Balco sweat (I have a feeling they don’t like to see athletes do well without their assistance), but let’s not forget that this is a kid who couldn’t tell a ball from a strike if it smacked him in the head and whose stolen base count is impressive only until you see the number of times he was caught. His price? 8 years, $136 million, or 356.95 Robinson Canos.

After seeing Soriano score with such a ludicrous contract, the 2nd-tier free agent outfielders apparently collectively decided to add a few zeroes to their asking prices. The Astros signed Carlos Lee (right, already drunk on Cristal) to a 6 year deal worth $100 million, meaning that he’ll be making about double what he made in 2005 and 2006 annually. Unless Lee winds up hitting .400 with 97 home runs to propel the Astros into the post-season, I have a feeling the Astros would have been better off signing Jeromy Burnitz for $8 million and purchasing about 15 million delicious Chipotle burritos with the rest of the cash. Over in LA, where speed (the skill, not the drug) is apparently valued tenfold over power and OBP, the Dodgers determined that paying Juan Pierre $44 million over the course of the next 5 years - - years during which he will undoubtedly slow down and get caught stealing even more than he already does - - would be a keen move. Pierre is a dandy outfielder, one the Yankees Chick was rooting for last year when the Yanks were looking for an outfielder, but $44 million?! To put that in perspective, the Yanks will pay Matsui $13 million next year – just $4 million more than what Pierre will make – and his OPS is over a point better than Pierre’s.

Free agents obviously are able to finagle heftier contracts when the market is sparse and multiple teams are in on the bidding, but the Yankees’ hesitance to strike on Matsuzaka (by the way, I now charge $50+ million to have a chat with me, too) and Baked Ziti (left, yum) makes me hopeful that perhaps the era of signing whoever the off-season’s hot ticket is without regard to cost or value is tapering off at last. When 2009 rolls around and the Mets are paying Barry Zito $25 million each year to maintain a 4.00 ERA, the Yanks will be watching Phillip Hughes or the Wangster do the same for a fraction of the cost.