The Dodgers have signed Zack Greinke to a 6-year, $147 million contract, according to Jon Heyman, with Gina Miller getting the scoop. The $24.5 million average annual value of the deal makes him the highest-paid pitcher in baseball on a per-year basis.

If you’ve followed me in years past, you’d know that I usually do some type of efficiency analysis in terms of whether the deal makes sense on a dollars per WAR basis, but at this stage, with the 2013 payroll already around $235 million, I’m not sure it matters as much.

The important part now is whether or not Greinke is a quality pitcher and whether he makes the Dodgers better, and those questions aren’t even debatable.

After battling back from anxiety issues and becoming a full-time starting pitcher again, he has averaged 5.7 FIP WAR and 4.8 RA WAR over the past five years. Needless to say, he’ll slot in nicely behind Clayton Kershaw in the rotation, and even looking if we do look at it from the $/WAR perspective, at a $5 million per WAR rate and growing, it hardly seems like an overpay.

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Update: Jim Bowden said on Twitter that the contract has an opt-out clause after three years, and that it also has a provision in case he’s traded.

According to a Dodger source:Greinke has a full player opt out clause after 3 yrs & if traded during contract he can opt out at end of yr

Not sure how legit this is considering that he was the one shilling the hardest of the “Greinke to the Rangers” crowd, but if it’s true, does it change anything?

Not really.

Obviously the risk here shifts entirely to the team, much like with the J.D. Drew situation, but if he pitches excellent and opts out at 32 to look for a new contract, either the Dodgers let him walk and go after another front-end guy, or give him a minor raise/extension to retain his services, much like the Yankees did with C.C. Sabathia.

I’d rather not have it in there, but it’s not a deal-breaker or anything.

The tide has shifted completely in the Zack Greinke sweepstakes with sources now almost universally agreeing that the Rangers are the favorites.

Ken Rosenthal and Jon Paul Morosi speculate that their push for Justin Upton is born out of confidence regarding Greinke.

The Rangers’ fervent push for Upton, according to one rival executive, is an indication of their confidence in landing Greinke, who also is being pursued by the Los Angeles Dodgers.

Later, on Twitter, Rosenthal said that the Dodgers are considering pulling out of Greinke negotiations all together.

Mark Saxon got quotes from Ned Colletti expressing pessimism.

Asked if he was on the “doorstep” of acquiring Greinke, Dodgers general manager Ned Colletti said: “We’re not on the front lawn. … We’re barely out of the car at the curb. It’s better than driving around the neighborhood looking for the house. We know where the house is located. We just can’t seem to get out of the car.”

The Dodgers began negotiations with Greinke’s agent, Casey Close, in Nashville, but it doesn’t appear that they have made a formal offer to this point. Speculation is that Greinke could command a record deal for a right-hander — in the six-year, $150 million range.

Given the Dodgers’ deep pockets, it’s unlikely they would be outbid for Greinke, so it’s possible he prefers to pitch in another city. Reports indicated he was leaning toward the Texas Rangers.

Jon Heyman relays much of the same sentiment.

Dodgers people have begun to sound a bit less optimistic within the last day or so about their pursuit of star free-agent pitcher Zack Greinke. And although there’s no evidence anything is close or decided in Texas’ favor, a couple of Dodgers people even suggested that they are beginning to wonder whether Greinke may simply prefer the Rangers.

Just piling on at this point, Jim Bowden says Greinke is impressed with the Rangers organization.

A source has told me that Greinke was blown away by Nolan Ryan and Rangers Front Office..loves the ML team, prospects and chances to Win WS

So yeah, it’s safe to say that the momentum has shifted from the Dodgers to the Rangers for whatever reason, but whether this remains legit or is being fed to the press in order to drive up prices, or whatever else, is still unknown.

Like many of you, I’m just getting tired of the saga already because it holds up all of free agency, but then again, nobody said the rest have to wait for Greinke. He’s free to do things at his own pace if he so chooses, especially considering that he’s looking at committing the next 6 to 8 years of his life to a location.

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The suitors for Dee Gordon now total four, with the Braves and the Phillies now apparently in as well, according to Jayson Stark.

#Indians, #Mariners, #Braves & #Phillies among teams I heard asked #Dodgers about Dee Gordon. It appears all but Seat would try him in OF.

Not seeing what the return would be from those teams, so there must be other things at work in the background here if this trade were to happen.

Honestly though, I’m not seeing the upside in moving him to the outfield. The potential for him to be an MLB regular contributor came with the value of him playing shortstop, where his bat could be decidedly below average but he could still have value. In center or, even worse, left or right, he would basically be relegated to the upside of a poor man’s Juan Pierre. Say what you want about Pierre, but Gordon’s talent with the bat isn’t anywhere close to Pierre’s right now, and I’m not sure it’ll ever get there.

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Confirming a previous rumor, it was reiterated that the Dodgers have interest in Skip Schumaker.

The Dodgers and Twins are among the teams that have some level of interest in Cardinals bench player Skip Schumaker, Derrick Goold of the St. Louis Post-Dispatch reports.

I gave my thoughts on him the first time his name came up.

Credit: The LFP

The Zack Greinke saga is the story of the Winter Meetings, not only because he’s the top free agent out there, but also because he’s holding up the deals of other free agents, as they’re all waiting on him.

Whatever he decides, it figures to be at least borderline historical, as Jon Heyman notes.

Strong belief by people close to situation is greinke can beat cc sabathia $161M record deal if desires. #dodgers #rangers

But who’s in the lead now? Jayson Stark says the talk revolves around the Rangers…

The big buzz this morning at the winter meetings is: Watch out for Texas on Zack Greinke.

…and Joel Sherman gives a potential reason why Greinke might be leaning that way.

Told Greinke’s wife is former Dall #Cowboys cheerleader and could influence desire get back to Tex. score1 for #Rangers

The Nationals are out of the sweepstakes thanks to their Dan Haren acquisition, and the Angels are assumed to be out of it as well due to price concerns, according to Danny Knobler.

With Greinke bidding heading to $160 million and perhaps beyond, one Angels person said: “That’s going to blow us out of the water.”

Additionally, they just added Joe Blanton to their rotation.

Ken Gurnick reports that Greinke’s personal fingerprints appear to be all over the negotiations.

The speculation is that Greinke, and not Close, is orchestrating the leisurely pace of negotiations, which has log-jammed the free-agent market for pitchers. The 29-year-old Greinke could wind up with a contract bigger than CC Sabathia’s record for a pitcher of seven years and $161 million.

Reading between the lines a little, this could mean that the money is close enough where it boils down to personal matters, which could lead him to stray away from the Dodgers and the most money. It could also be the reason Josh Hamilton to the Mariners talks have picked up, as his agent might sense the Rangers will be out of the market for him.

Hopefully not, but the reports yesterday certainly weren’t as optimistic for the team as the day before.

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Those Dee Gordon rumors from yesterday? Well apparently they have some legs, and Jon Paul Morosi/Ken Rosenthal report that the Indians are in.

I looked at the Mariners roster yesterday to find a potential fit in a trade, but for the Indians I don’t see a clear-cut fit for the Dodgers current roster. I’m hoping it doesn’t involve Ubaldo Jimenez.

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As for Hyun Jin Ryu, yesterday was just a continuation of the day before.

Nor would Colletti say if he felt he was closer to a deal for Korean free-agent pitcher Ryu Hyun-jin.

“I just feel closer to Sunday,” Colletti said, because at 2 p.m. PT Sunday the Dodgers must either have a deal with Ryu or he returns to Korea.

Oddly enough, I think Jim Bowden‘s thoughts most accurately reflects reality.

Dodgers not worried about negotiations w Ryu… they know Boras style & will wait until Sunday Deadline to bear down with him & get it done

— JIM BOWDEN (@JimBowdenESPNxm) December 6, 2012

Though I would be lying if I said I didn’t cringe when Scott Boras started comparing him and his impending contract to Daisuke Matsuzaka.

“We have standards that all of us agree the guy is a No. 3 starter in the Major Leagues,” Boras said Wednesday. “And past practices, negotiations that we’ve done for [Daisuke] Matsuzaka, at that time Matsuzaka got paid [$52 million, six years] like he was a No. 3 pitcher in the big leagues. We think very highly of Ryu.

Why?

1) Expecting that contract is ridiculous to me.

2) Why would he ever want to associate an Asian pitcher’s potential career with that of Daisuke Matsuzaka?

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The Dodgers do need a lefty reliever in the pen for next year, and with Randy Choate now off the board, Mike Petriello brings up Matt Thornton‘s name.

With LH RP dropping off the board, #Dodgers will probably need to get one via trade. One rumored possibility: Matt Thornton of Chicago.

Would have loved this idea three or four years ago, but he’s now on a three-year negative trend, is going to be 36, and his stuff diminishing is becoming an annual event.

Still a better option than signing Choate for three years, but not exactly a guy you want to give up meaningful assets to acquire.

Zack Greinke news is dribbling in slowly, especially given that talks were expected to escalate quickly. The latest speculation is that the Dodgers and Rangers are out ahead, according to Bill Shaikin.

The Dodgers and Rangers appear to be the favorites for Greinke, with the Angels as the dark horse, tweets Bill Shaikin of the Los Angeles Times.

So apparently the Angels are still in the mix, which goes counter to a previous report. Perhaps the Nationals are now out of it after acquiring Dan Haren.

With that said though, if Josh Hamilton and the Rangers works out, it bodes well for the Dodgers chances at Greinke.

Sources: #Rangers, Hamilton making progress. Deal, if reached, likely would be 4 yrs. But still possible another team could beat TEX offer.

— Ken Rosenthal (@Ken_Rosenthal) December 4, 2012

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Remember when the Dodgers were hot and heavy with Anibal Sanchez? Well, that’s apparently still a thing, as they’re in the mix along with five other teams.

The Mystery Team has finally showed up in Nashville! Bob Nightengale of USA Today reports (via Twitter) that, in addition to the Tigers, Angels, Royals, Dodgers, and Red Sox, a mystery team is in the mix for Sanchez.

Mystery Team is ETERNALLY the dark horse.

I doubt the Dodgers interest in him is serious at this point, as they are occupied currently with Greinke and James Shields.

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Jim Bowden says the Dodgers are in on Rafael Soriano.

Don’t eliminate the Dodgers as a possible landing spot for Rafael Soriano, despite their multiyear commitment to Brandon League.

Since he opted out of a $14 million option, he’s obviously going to want multiple years and more money than that to sign.

The problem? He hasn’t been all that good over the past two seasons, posting a 3.97 FIP in 2011 and a 3.32 FIP in 2012. He’s going to want to be paid like Brandon League but he hasn’t even been as good as that in the last two seasons.

Why this would be a thing I have no idea.

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Dodgers are looking at reliever Mark Lowe, according to Jon Paul Morosi.

The market for setup relievers is starting to take shape, and free agent Mark Lowe is drawing interest from a number of teams.

The Dodgers, Giants, Brewers, Angels and Rays are among the clubs that have checked in on the right-hander, major-league sources told FOXSports.com. Of that group, Milwaukee’s need for bullpen help is particularly acute.

4.16 FIP in 2011, 4.32 FIP in 2012, 4.10 FIP career.

Depending on who he would replace in the pen, there’s a solid argument that signing him would be a downgrade.

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#dodgers are looking around a bit for a SS or 3B to potentially pair with hanley. seeming M.O.: all-star at all positions

— Jon Heyman (@JonHeymanCBS) December 4, 2012

Was waiting for this, actually.

If they actually have no restrictions, I’m not sure why they would go into next year satisfied with Hanley Ramirez at short and Luis Cruz at third.

The Rangers are favorites to land Zack Greinke, according to Jeff Fletcher of The Orange County Register.

For what it’s worth, I was told today the #Rangers are the favorites for Greinke. It could all just be posturing now. Wait and see.

That goes against what Jim Bowden of ESPN said though.

Los Angeles Dodgers are considered the front runner for Zack Greinke according to source with knowledge of the negotiations…. but NOT over

Of course, while Bowden is a former GM, he doesn’t come off as much of a reporter, and all the hype about Greinke to the Dodgers does seem a bit trumped up out of nowhere.

As I’ve stated before though, to any Dodger fan, he has to be the top choice of the off-season.

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Tim Brown of Yahoo! Sports reports that Brian Wilson‘s first choice after the Giants is … the Dodgers.

Hearing Brian Wilson’s first choice to pitch in 2012 — outside of SF — is for the Dodgers. He lives in LA during offseason.

Rather than do any analysis of this, I’m just going to say that this would be a nightmare.

I don’t care if it’s a good price or not, just … ugh. No.

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Mark Saxon of ESPN Los Angeles reports that the Dodgers have interest in Kyle Lohse.

Source: Dodgers showing interest in Kyle Lohse

I’d take this with a grain of salt since there’s no support for it elsewhere and because he also said Hiroki Kuroda was going somewhere in Los Angeles and that the Dodgers approached Torii Hunter with a two-year deal.

Needless to say, if the Dodgers payroll is what it’s rumored to be, this would be an utterly confusing signing.