[jaysdailydose]

One thing I do try to use with older players is using team options. For instance, I just signed a 34-year old Buddy Bell to a two-year extension, with the second season being a team option. He was making $1.9M in the current season, and was forced into the starting lineup essentially since the last day of spring training, and has produced well for the first 40 games. He wanted an extension, so I gave him a $600K raise for the next season ($2.5M) and a second year which is a team option at $2.75M.

If he falls apart at age 35, I'm only on the hook for that season. If he continues to produce that year, I only have to give him a quarter million raise for his continued production.

As Ra7c7er said, just concentrate on how you structure contracts, especially for your older players -- and try to have "succession plans" in place for those spots on your roster.