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Don't get me wrong Bedard has been very good, but hes not the best pitcher in the AL or even close to it anymore.
It does look like '07 was a career year as so far in '08 hes had a 3.85 tRA and 3.47 FIP. His 7.6 SwS% in '09 has regressed towards career norms.
The park plays well into his his skillset, but at this point in Bedard's career he looks like a borderline top 10 AL pitcher in a neutral park. Considering his lack of durability I would NOT pay him a Santana/Sabathia contract. He has neither their dominance or their durability.
It needs to be a contract that reflects the current market (and Bedard's arm problems).