by Ken Rosenthal

Comment

The Red Sox's five free-agent additions — pitchers John Smoltz, Brad Penny and Takashi Saito, plus outfielder Rocco Baldelli and infielder/outfielder Mark Kotsay — signed for a combined guarantee of $14 million.

Make no mistake, the Sox would be better off with Teixeira. But in a depressed market, their strategy of gambling on talented if physically questionable veterans could prove a master stroke.

The Sox signed each of their free agents for only one year, retaining financial flexibility at a time when rival clubs might dump contracts at mid-season if the economy does not improve.

The Giants, Angels and Brewers are among the other teams intent on staying flexible. One argument against the Giants signing free-agent outfielder Manny Ramirez is that it might inhibit them from making other moves later.

Of course, the Sox might not need much help at the deadline if one or more of their gambles proves worthwhile. The core of the team that reached the American League Championship Series last season will return largely intact. Catcher is the only position in flux.

Smoltz and Penny each can earn $10 million or more if they reach all of their incentives. Baldelli can earn $7.5 million, Saito more than $7 million. The Sox will gladly pay those sums if the players are healthy enough to earn them.

The potential for increased depth also could expand the Sox's trade options. If Penny returns to form, the Sox could flip him in July, assuming right-hander Clay Buchholz or another young pitcher is ready to join the rotation. If Saito is healthy, the Sox could build a surplus of relievers, creating other possibilities.

No question, the Sox's medical staff will be busy, and the additions of so many injury risks is a stunning show of faith by general manager Theo Epstein in the team's trainers and doctors. But Smoltz or Penny alone could prove worth $14 million, or close to it. And the Red Sox still are in position to do more.

The Reds: Going Gonzo?

The Reds, thwarted in their attempts to land a right-handed hitting outfielder, could pursue free-agent outfielder Luis Gonzalez as a less expensive left-handed hitting option.

Gonzalez, 41, spoke for 15 minutes on Saturday with Reds manager Dusty Baker, though both sides acknowledge that Gonzalez's agents are pushing harder than the Reds for a deal.

The Reds' outfield currently consists of Jay Bruce in right, Willy Taveras in center and a possible platoon of Chris Dickerson and Norris Hopper in left.

The signing of Gonzalez would jeopardize the playing time of Dickerson, who made his debut last season at 26 and had a batting average/on-base/slugging line of .304-.413-.608 in 122 plate appearances.

The Reds, however, will lose veteran presence with their trade of Ken Griffey Jr. and the departure of free agent Adam Dunn. Gonzalez, who is six doubles short of 600, batted .261-.336-.413 last season with the Marlins.

"We've had several inquiries," said Gregg Clifton, one of Gonzalez's agents. "Teams are very interested in him.

"He showed last season that he could still play on an everyday basis as well as be a supporting bench player and tutor for all the young players. If not for the Marlins' plethora of arbitration-eligible players, he would be returning to Florida."

Marlins on Pedro: Don't need him

The Marlins' rotation already might be in the best in the NL East, so why would they want free-agent right-hander Pedro Martinez?

The answer is that they do not, despite a report by ESPN.com Sunday that Martinez and the Marlins are "believed to be in the beginning stages of negotiating a contract."

Martinez, according to one club that had interest in him, is seeking $8 million for one year; Smoltz also sought $8 million before signing with the Red Sox for $5.5 million.

The Marlins' payroll is fairly set, one club official said, and the team is more than satisfied with its projected rotation of Ricky Nolasco, Josh Johnson, Chris Volstad, Anibal Sanchez and Andrew Miller.

Martinez, who has pitched only 137 innings the past two seasons, would find it difficult to crack that group.

Around the horn

Penny's $5 million incentive package includes bonuses for relief appearances as well as innings pitched as a starter. The Red Sox, however, do not intend to use Penny as a reliever. Penny's agents merely asked for the dual incentives as protection against the Sox stashing him in the bullpen . . .

The Dodgers continue to pursue free-agent starters Jon Garland, Braden Looper and Randy Wolf, and they're encouraged by the progress of right-hander Ramon Troncoso in the Dominican winter league. Troncoso, 3-0 with a 2.25 ERA in four appearance, three starts, could end up the team's fifth starter.

The Phillies and Orioles were among the teams that watched free-agent left-hander Eric Milton throw Friday in Glen Burnie, Md. Milton, 33, has not pitched in the majors since June 2007, when he suffered an elbow injury that required Tommy John surgery.