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Here's a telling quote from the
ESPN article;
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"J.C. had an outstanding three months for us this year, particularly down the stretch," Amaro said.
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Evidently three good months is worth a 3yr/$12MM deal. It's probably only a slight overpay in terms of dollars, but way too much in terms of years.
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You could remove a few players with which the Phillies don't make the playoffs.
Romero was one of them. He was there every time they called him in, which with their starting pitching was often.