Why? It wasn't a terrible contract. They did not go overboard. In fact Pavano had similar contracts from at least 2 other teams. Yes, in hindsight it is terrible, however he was the best pitcher available in that FA year. If he was able to pitch and be a solid #4 his contract would be fine. The Yankees had teams interested in trade talks for Pavano last year, before the TJ surgery! dude, pavano had pitched in seven major league seasons and had a grand total of two years with an ERA+ above 100, and one at 100. So basically he was average or worse than average in 5 of his 7 seasons in the big leagues. he had a lot of injury problems before 2003 as well. this was a bad signing that was based on one very good year that he had. you don't give $40m over 4 years to a guy who has been below-average most of his career and is a significant injury risk. just because multiple teams go overboard and offer big contracts after one big year (see: adrian beltre) doesn't mean that it was an acceptable move. it just means that multiple teams were stupid. I agree, but that is what the rate was then. Don't forget that the Red Sox, shortly after losing out on Pavano, went and gave Matt Clement a 3 year 25.5 million dollar deal. There were a lot of Yankees fans that were against getting Pavano, me included. My post was simply in response to the gentleman who acted like the Yankees went way out of line.