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Positives about Bay: 14.3% HR/FB last season was close to career average (8 HR over 194 AB).
BsR on fangraphs shows him still positive (5/6 SB in 2012) so his legs are still healthy.
OOZ swings were very low (20% or 17% via PITCHf/x), his Zone Contact was above career average, so he's still making contact OK.
BABiP was silly low at .185, Figgins managed a .237 last season, career BABiP of .317 and a .295 in 2011, that was almost certainly bad luck and small sample.
Most of his comps (Same Height, Weight, Position, ISO, BB%, K%, Speed) played well through age 35 (Bay is 34), and his best comps (Guys that got injured or appeared done in their early 30's) include Jeromy Burnitz (.916 OPS @36), Andruw Jones (.851 OPS @34), Tim Salmon (.838 OPS @34 & .811 OPS @37), Eric Davis (.935 OPS from age 34-36 after .582 OPS @32 and missing age 33 season), Ron Gant (.807 OPS from 34-36), and Danny Tartabull (11 PA @34).