In mid-January, Colorado signed RHP Jason Jennings to a two-year, $7M contract that includes a $100,000 buyout on a $5.5M option for 2007. On top of his $200,000 signing bonus, the deal sets his salaries at $2.3M in 2005 and $4.4M in 2006. If Kennedy accumulates 400 IP between 2005 and 2006, the option price jumps to $6.4M. In the event that the Rockies trade him, the team option converts to a mutual option.

Jennings keeps a satisfactory ratio of balls on the ground. However, the 26-year-old's low strikeout rate and uncomfortably high walk rate interfere with his effectiveness. Colorado also possesses a poor defense, which magnifies the problems created by Jennings' excess baserunners. Given the potential that accompanies his youth and experience, I don't object to his 2005 salary, but I do not like this contract. Until his skills improve, Jennings' usefulness lies in his capacity to eat innings, but if he performs that job successfully his option price increases. Meanwhile, barring substantial skill growth, I would have considered him trade bait, as the former rookie-of-the-year likely would have appealed to some team as an intriguing post-Coors rehab project. Regrettably, this contract likely commits any interested team to paying Jennings $5.5M in 2007, which isn't an attractive price for a charity case.

Colorado also signed LHP Joe Kennedy to a one-year, $2.2M contract. The deal provides him with the opportunity to earn an additional $125,000 in bonuses. Kennedy missed a portion of 2004 due to shoulder trouble, however he's evidently recovered from that problem and used his rehab time to enact some changes to his delivery. The 25-year-old posts solid strikeout rates and increased his G-F to a comfortable 1.51 last season. Although Kennedy's shoulder injury and delivery tinkering may have been responsible for his swollen walk rate, he could encounter trouble if his walk rate remains elevated over the entirety of the 2005 season. Provided his control rebounds, he should prove an economical and effective starter for the Rockies this season.

LHP Shawn Estes signed a one-year, $2.5M contract with Arizona in mid-January. Estes reportedly declined more profitable contracts offered by the Nationals and the Dodgers in order to sign with Arizona, because he lives near Phoenix with his wife and two small children. After peaking in 1998, the groundball pitcher's strikeout rate steadily has declined over the past several seasons. Meanwhile, the 31-year-old's control remains unsatisfactory, so his effectiveness has suffered. Considering the Diamondbacks' defensive deficiencies, I do not expect Estes to provide Arizona with much more than innings.