12:28pm: Valverde tells Dennis Lin of the San Diego Union Tribune (Twitter link) that his agent has informed him that a new deal may come quickly. Given the fact that Valverde opted out of his deal (as opposed to being released) and has pitched reasonably well this spring, it wouldn’t be surprising if he’s drawing interest from other clubs.
Valverde enjoyed a long stretch as a quality reliever who racked up a lot of saves. But his struggles over the past two years have been rather pronounced: over 40 innings, he owns a 5.63 ERA. Though the veteran still has a useful K:BB ratio in that stretch (9.5 K/9 against 3.6 BB/9), he has been exceedingly home run prone. Among the major ERA estimators, only SIERA values Valverde as an average or better reliever since 2013.
It seemed at one point that Valverde could be headed toward a job with the Pads. He has maintained quite a bit of fastball velocity into his later years, but reportedly was working into and above the mid-90s at times this spring. He allowed four earned runs in 8 2/3 spring innings, but fanned eight while walking only one batter.