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What's Moyer worth?

If you were Ruben Amaro Jr., would (that is, should) you sign a league-average pitcher to a multi-year deal for 2009+?  And would it make a difference if that pitcher was currently 45 years old?  

Moyer is, so far this year, almost the definition of a league-average pitcher.  His ERA is 4.15 in a league with a 4.34 average; his WHIP is 1.59.  He's throw at least 199 innings in each of the last seven seasons.  Watching him last night, I found myself appreciating how slender and flexible he is - I hope to match that when I'm 45 - and admiring his approach at the plate.  Set aside his two hits, although they were pretty tasty; focus on that bunt.  How rare is it to see a Phillies pitcher who regularly lays down good bunts? 

Anyway, the point is, he looks like he could keep this up for another three or four years.  Throwing that 76-MPH slop up there can't be taxing his arm too much.  The guy I saw last night looked like a good candidate to be throwing 175+ innings of league-average ball in 2010.

So, how crazy would it be to offer a multi-year deal to a guy who'd be 46 in the first year?  That's insane, right - baseball malpractice?  I'm just posting this here because I caught myself thinking that it might not be insane, and that we could actually regret <i>not</i> resigning Moyer next year, a la Lohse.

                                                                                                                                                                                                               

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