Mets GM Omar Minaya signed Oliver Perez to a three-year, $36MM deal in February of 2009, and he's given the team 112 1/3 innings of 6.81 ball over two seasons. There's a good chance he'll be released this month, with the team eating $12MM. It could have been worse, too - Joel Sherman of the New York Post reported that the Mets floated a four-year, $44MM deal, but Perez and Scott Boras wanted the chance to re-enter the free agent market after three years.
It's easy to trash the Perez signing now, but what were reporters and analysts saying at the time of the deal? Don't worry, I am not immune…
Tim Dierkes, MLB Trade Rumors
I think it was about right since he is so young and can be dominant. Maybe a slight overpay but that is OK for a team like the Mets to do.
Ben Shpigel, New York Times
Perez has agreed in principle to a three-year, $36 million contract to remain with the Mets in a deal that should benefit both parties. Without guaranteeing a fourth year or even including a vesting option, the Mets fortified their rotation Monday with a 27-year-old left-hander who is comfortable pitching in New York; who last season baffled their chief rival, the Philadelphia Phillies; and who has the potential to shine brighter than [Derek] Lowe.
Matthew Cerrone, MetsBlog
The thing i like most about this is that, even if Perez is a total bust, and regresses, the Mets can move this contract…had he ever signed for five years and $60 million, like he was initially looking for, he’d be a total albatross…but, if the Mets were to eat some of the money, there will always be a taker for a 28–year-old lefty earning, say, $16 million over two years.
Joel Sherman, New York Post
Now the Mets will hope the lack of focus or lack of maturity or whatever it is exactly that detours Perez from consistent excellence will melt away.
Buster Olney, ESPN
Personally, I like the signing for the Mets.
Jayson Stark of ESPN listed Perez under his three most outrageous contracts, writing:
The Mets win a bidding war with themselves to reel in Oliver Perez.
Jon Heyman, SI.com
The Mets had to get Oliver Perez back. They weren't comfortable with their main fallback option, which was [Randy] Wolf.