As the Winter Meetings continue in Disney Land (soon to be renamed Fantasy Land), we’ll take a look at some of the deals and hot rumors as the hot stove talk heats up:

1.Dodgers sign former Giants ace Jason Schmidt for three years $47 million- It’s a good sign. Sure, it almost averages out to $16 million-per-year but if Vincente Padilla can get almost 11 million from Texas, then a proven pitcher like Schmidt can get this payday in this crazy market.

2.Cubs sign former Toronto lefty Ted Lilly to 4-year deal worth $40 million- say what??? I like Lilly but come on. This is ridiculous overpayment for a pitcher who projects at best as a No.3. The 30 year-old former Yankee went 15-13 with a 4.31 ERA in 2006. For his career, he’s one game over .500 with a 4.60 ERA. Somehow, it didn’t detract Cubs GM Jim Hendry from continuing his shopping spree. Since hiring new skipper Lou Piniella, he’s spent close to $300 million on Alfonso Soriano, Mark DeRosa, Lilly and the re-signing of Aramis Ramirez and Kerry Wood. So I guess that’s why Lilly’s agent Larry O’Brien would make this kind of remark on his client’s new club:

“He’s a Cub and wants to be part of getting them back to the World Series.“

How about just helping the Cubs become respectable again first? Of course, it’s got nothing to do with the money. Right.

Speaking of the Cubs, they’re also interested in overpaying Gil Meche. How nice. There’s no such thing as buying a championship because you can’t buy chemistry. Just ask the Yankees.

3.Mets deal starter Brian Bannister to Kansas City for reliever Ambiorix Burgos- I love this deal for the Amazins because Bannister was expendable and as usual Omar Minaya addressed a need in the pen. Plus Burgos is only 22 and has electric stuff. This could be a steal if he improves under Rick Petersen.
4.Padres agree to 1-year $10 million deal with ex-Dodger starter Greg Maddux- Once again, another 40 year-old starter cashes in. And well, the veteran righty should provide San Diego with a reliable back end option. He’s crafty enough to still win 14-15.

5.Phillies acquire starter Freddy Garcia from White Sox in exchange for Gavin Floyd and a player to be named later- if Garcia adjusts to the more pitcher friendly senior circuit well, then this move was a no-brainer for the Phillies. With Garcia added to a staff that includes Brett Myers, Cole Hamels, Adam Eaton, Jon Lieber and Jamie Moyer, Philadelphia looks to have the deepest rotation in the NL East. Meanwhile, the White Sox shed some payroll and get younger. Translation: They have made room for Brandon McCarthy to move into the rotation.
6.A’s sign ex-Padre backstop Mike Piazza to a 1-year deal between $8-9 million- With Jason Kendall still there, you have to figure slugging Piazza will see some time at DH. That could mean a hike in production. The A’s also came to terms with lefty specialist Alan Embree who will be asked to help in late inning situations under new manager Bob Geren (yes that Bob Geren Yankee fans).

7.Giants agree to terms with catcher Benji Molina on a 3-year $16 million deal- Solid move by Brian Sabean here landing an underrated catcher.

8.Indians sign outfielder David Dellucci and closer Joe Borowski- The underappreciated Dellucci got $11.5 million over three years while Borowski signed for $4 million with a 2008 option. Borowski is okay but shouldn’t be a closer while Dellucci should provide a vet presence and play solid D and chip in with the bat.

9.Dodgers sign ex-Phil catcher Mike Lieberthal- He got $1.15 million and a $1.4 option for ‘08. Lieberthal is a solid backstop who can fill in for Russell Martin. A decent addition.

Rumors:

1.Andy Pettite says he’ll play in 2007- no surprise here. The ex-Yankee wants to return to the Bronx for a sequel. And by having his agent announce this now, it puts the Yanks in a bidding war with the Astros for the likeable southpaw’s services. He’ll probably wind up back in New York.
2.Barry Bonds shopping for team- So who wants the biggest headache/distraction as part of their clubhouse? At this point, not many are interested. As Bonds chases Aaron’s record, he’ll need to come down on his outrageous demand of being paid top dollar for one season. Nobody is going to give him $18 million to play in maybe 90 games and pass Aaron. Looks like he could wind up staying with San Francisco.

3.Mets talking to Oakland about trading outfield prospect Lastings Milledge for either starter Rich Harden or Joe Blanton- if Billy Beane does this, he needs to be evaluated. Milledge proved he’s a selfish primadona by whining and turning into a team distraction down the stretch- playing his way off the Mets postseason roster. Then he refused to participate in Winter Ball. If Minaya can land either Harden or Blanton for this enigma, he’s a genius. Either would legitimize the Mets’ aging staff and be a great answer to the Phillies landing Garcia and Eaton.

4.Manny Ramirez likely staying in Fenway- This is good news for the Red Sox and their fans. With teams such as the Dodgers, Padres and Giants losing interest in the slugging left fielder due to possible demands of an extension in the $18-20 million range per year, it looks like the George Washington product who beats to his own drum will remain a Red Sock. What that means for David Ortiz is great protection and also takes some pressure off new addition J.D. “DL” Drew. It also means the Sox if they get any sort of pitching will be right there again with the Yankees for the AL East. So when they sign Daisuke Matsuzaka, will they be renamed the Red $ox? Stay tuned.