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If the market is soft and he's looking at a mid-sized market, why wouldn't he stay where the championship core is already in place?
If the market is hot, then I think Seattle has a hard time getting in the mix in the first place. The Cubs have very rich new owners that want to make a mark, and the Miami Marlins (yes, they are now "Miami") are in "Extreme Makeover: Baseball Club Edition." They want to sign Pujols and Reyes (in addition to new name, unis, ballpark, etc.), but if they don't get Pujols, I expect they'll make a run at Fielder. They've been keeping their powder dry for exactly this moment.