Derek Lowe (SP), ATL

News: The Braves signed Lowe to a four year, $60 million contract Tuesday. Lowe was 14-11 with a 3.24 ERA and 1.13 WHIP for Los Angeles last season.

Views: I'm 50/50 on this deal, actually.

First, let's look at the positives. Lowe has been incredibly steady for the Dodgers the past four seasons, finishing with an ERA of 3.88 or better and a WHIP of 1.27 or better in each of those seasons. He's also been incredibly durable, having made 32 or more starts in each of the past seven seasons since he made the move from the bullpen to the starting rotation. He's proven to be more successful since joining the National League, so staying in the NL should be a bonus for him.

As for the negatives? The most obvious question mark regards the fourth year that the Braves gave him that most of the other teams weren't willing to give. Lowe will turn 36 in June, meaning he'll turn 40 in the final year of his contract. His home/road splits over the past couple of years also have to be something of a concern. Though Dodger Stadium hasn't played quite as well to pitchers in recent years as it used to, you'd never know it by looking at Lowe's numbers. Over the past three seasons, Lowe had a 2.95 ERA and 1.10 WHIP at home. Over that same stretch, he had a 4.24 ERA and 1.35 WHIP on the road. 2008 was even more lopsided, with Lowe finishing with a 2.30 ERA and 0.93 WHIP at home and a 4.42 ERA and 1.39 WHIP on the road. He's going to miss Dodger Stadium.

Finally, in an offseason that (save the Yankees' massive spending spree) has seen quite a few players sign for what you would assume is below their market value because of the struggles with the economy, Lowe is essentially a guy who has performed in the $10-$12 million range with a monster walk year and turned it into $15 million per. It's clear the Braves needed to add a money starter after watching Smoltz (who, if at 100%, you would think that the Braves would rather have for the upcoming season) head to Boston. The problem is, Smoltz signed a deal in Boston that will (pre-bonuses) pay him roughly a third of the annual value of Lowe's deal. Even if Smoltz hits all his bonuses, he'll make only about two-thirds of what Lowe will in 2009. It just doesn't add up. It might if Lowe was 31 or 32. It doesn't if he's 36.