Brian McTaggart of MLB.com writes that free agent reliever Jose Valverde is testing the free agent market and is coming up empty.

Valverde turned down the Astros’ offer of arbitration minutes before the Dec 7 deadline hoping that he can secure a multi-year deal.

The market for closers is shrinking.  Only the Florida Marlins, Detroit Tigers and Pittsburgh Pirates need a closer, but none are willing to pay a large amount.

The closer market for this off season is not dictating large contracts.  A few that have already signed include Billy Wagner who signed a one-year, $7 million contract with the Braves.  Brandon Lyon took Valverde’s position in Houston and signed a three-year, $15 million contract.

Lyon’s agent, Barry Meister, spoke about his planning and thinking during the negotiation process.

“In Brandon’s case, we had been contacted by a number of clubs who seemed willing to offer a long-term contract,” he said. “But I also knew that although Detroit had offered a one-year contract and also had indicated they would make a long-term contract available to Brandon, I would lose all my leverage once I accepted arbitration because then Detroit would have the ability to limit him to a one-year contract, which is something clubs find very valuable.

“Also, the one-year contracts in arbitration are non-guaranteed, so for Brandon, it was an easy decision not to do that.”

In addition to Valverde, Kevin Gregg, Matt Capps and Fernando Rodney are also seeking closer roles.

Right now, it’s not for sure that Valverde’s gamble to test the open market will pay off.  Valverde, who made $8 million last season with the Astros, probably would have made $10 million in arbitration.  Hopefully, he can find something better.  Otherwise he’ll be in the same boat with Jon Garland who walked away from a one-year, $12 million only to settle for a one-year $6.25 million last year.

You can see Jose Valverde’s contract history and statistics here.

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