Mike Pelfrey is overpaid.

Even though we knew it was coming I remain shocked an appalled at Mike Pelfrey's 5.65 million dollar contract. He got a raise! Really? That's almost a two million dollar raise, when was the last time you performed miserably and got rewarded with two million dollars? Sometimes I feel like the business of baseball is conducted in the bizzaro world.

However what really sent me into a tailspin was the news that David Price re-signed to the Rays for 4.35 million. In 2011 David price had an ERA of 3.49 and an xFIP of 3.32 he also struck out almost 9 guys per 9 innings. Price had elite level stuff last year and has had a great consisent career and he makes more than a million dollars less than Pelf? Pelf who had a 4.74 ERA and a 4.55 xFIP, with a k/9 of 4.88. He literally almost had a higher ERA than a k/9, is this even possible? How is this guy the 4th highest paid player on our team?

For the record, here are some guys who made roughly the same salary last year: Matt Garza (3.32 ERA), Jon Lester (3.47 ERA), and Joe Saunders (3.69 ERA). Three guys who are playing at an above average level who made huge contributions to their teams. The way the Mets value players is just totally backwards, I truly can't figure out a system that would reward him with the salary he received. At least the ridiculous amount of money that we are paying Santana and Bay this year were based on contracts that made some sense at the time and were for guys projected to play at an elite level. The Mets know what they are getting with Pelfrey and still elected to give him almost 6 million dollars. Next thing you know we will pay the same thing to a risky middle of the road reliever...