Orioles Come to Terms with Kevin Gregg

According to Dan Connelly of the Baltimore Sun, Kevin Gregg and the Orioles have come to terms on a two year $10M deal that includes a vesting option for 2013.

Last season, the closer role was a disaster for the Orioles with Mike Gonzalez, Koji Uehara, and the recently arrested Alfredo Simon all holding down ninth inning duties for a period of time.  While Gregg, 32, should go into Spring Training as the odds on favorite to win the closer job, he should get plenty of competition from Uehara.  Despite not having a lot of closer experience in the major leagues, he was pretty impressive last season putting up a 2.86 ERA with a 55/5 K/BB ratio, and 1.4 fWAR. 

Kevin Gregg has four years of closer experience, racking up at least 23 saves in each season, while holding down the role for the Marlins, Cubs, and Blue Jays.  Last season, Gregg went 2-6 with 37 saves in 43 chances, a 3.51 ERA, and a mediocre 58/30 K/BB ratio. 

Orioles, Gregg Still Negotiating

Two weeks ago, ESPN Boston's Joe McDonald reported they were close to finalizing a 2 year $12M deal.   Today, a deal isn't signed, but discussions are still ongoing.

the #orioles, who quietly had a decent winter despite all the rejections by free agents, are in talks with rhp kevin gregg

First of all, I'm not sure why the Orioles want Gregg when they already have Koji Uehara.  I guess a 2.41 FIP and a 55/5 K/BB ratio in 44 innings isn't good enough for the closer role.

Secondly, closers are a luxury.  They're the last piece of a contending team's puzzle.  Last I checked, the Orioles weren't that close to contending.  Instead of wasting $12M on a closer they don't need, why not use the money to sign one of their newly acquired infielders to an extension?  Or what about an extension for Adam Jones?  Just an idea.

Gregg is coming off a season where he saved 37 games in 43 chances while putting up a 3.51 ERA, a 58/30 K/BB ratio, and provided 0.8 wins above the replacement level.  Considering his age (33 years old) and the his three year value baseline (1.4 WAR), he seems like a poor bet to provide enough value to justify his contract.