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If your finances are comparable to present-day MLB finances, I would sign him and move him to the bullpen, as others are suggesting. He is not a long-term option in the bullpen--you can pay others less to mop up--but you might as well take a 1.2 million dollar risk to see if his control rises over the next year.
By age 26, though, he is no longer considered a prospect, and it is doubtful that his control will rise much more.
It is a good 1.2 million dollar risk, but if by this time next year he hasn't dropped his walk-rate, cut bait on him.
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