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9 million is not elite money anymore.
I understand the sentiment, Figgins isn't my type of player either. His career OPS+ is practically average at 99. He's a civic-to-da-max.
But Figgins' OBP (despite it being one year) is inherently worth more than the slow-footed OBPs like Glaus and Johnson. Figgins' OBP is more likely to convert to runs compared to the same OBP with zero power that Johnson offers.
Z's bet is probably that Figgins' eye isn't a fluke in the 'once you have it, you don't lose it' thread of mind. Like DrD says, you can't really buy stuff cheap once it's 'proven', so it's a gamble for sure.