With the sharks smelling blood in the water -- I actually heard one radio jock claim, and this is a direct quote, "Jon Garland was better in '06 than he was in '05. He was your (the Sox) best pitcher. You can't give up your best pitcher." -- Kenny Williams and Company tossed them a bone, signing Mike MacDougal to a 3-year deal with a 4th year option.
MacDougal was arbitration eligible for the first time in '07, and I guesstimated his '07 arbitration award as $1.25M. Under the terms of the new deal, MacDougal will make $1.5M in '07, $1.95 million in '08, and $2.65 million in '09. The White Sox hold a 2010 option at $3.75 million with a buyout of $350,000.
Under this arrangement, and assuming MMac can stay healthy, which is no small caveat, the Sox will get MacDougal at a discount against arbitration in the second and third years of his deal. It's a good deal for both sides. For comparisons sake, take a look at what the Indians have done this off-season, handing out around $10M in contracts to Joe Borowski (who I called washed up when we saw him in '05), Roberto Hernandez, and Aaron Fultz.