Day 1

If there was any doubt that pitching prices are out of control, the opening day of the Winter Meetings proved that to be the case.

Rich Hill, a 36-year old journeyman who has exceeded 100 innings twice in his career, signed a three-year deal  at $16-million per year.

Then Mark Melancon signed the richest closer contract in MLB history, four years and $62-million. And the contract contains an opt-out after two years when Melancon will have collected over half the value of the deal.

In a related development, Brian Cashman asked about his pursuit of pitching, said it was “less likely” the Yankees would add a starter from outside the organization and that the Yankees “were going to compete to a certain extent” for Chapman. Chapman also said he wanted a six-year deal. I won’t say the Yankees are out, but I don’t think they are going to give Chapman a $100-million which is probably what it is going to take to sign him at this point.

The Red Sox exercised the option on John Farrell’s contract for 2018 while Dave Dombroski confirmed they would like to stay below the luxury tax limit next year. Boston has been linked in some reports to Encarnacion, but their payroll is already at $160-million with another $20-million in expected arbitration awards, so it’s hard to see that happening.

Finally, the Nats are reportedly close to acquiring Chris Sale from the White Sox. Scherzer, Strasbourg, and Sale, wow.