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Details on the Schmidt contract, from the L.A. Times:

Schmidt, the ace of the San Francisco Giants staff the last five seasons, will sign a three-year deal for $47 million, getting $12.5 million in 2007, $15 million in 2008 and $16 million in 2009. In addition, $2.5 million is deferred to 2010 and $1 million will be paid in 2011.

Schmidt's contract looks even better when you see that Gil Meche gets four years, 45 million from the Royals. Meche has never pitched more than 186 innings or put up an ERA under 4.48 pitching in Seattle.

Also, Luis Gonzalez will get $7.35 million, not seven million, plus he's been assured that he'll be the starting left fielder. Hopefully this just means at the start of the season, or the little upside this deal had just went out the window.

The Dodgers were unaffected by the Rule V Draft. I like the Yankees pickup of Josh Phelps. He gets very little respect for a man with an .800 OPS in 1200 at bats.