The New York Yankees watched the Boston Red Sox, infused with homegrown talent, win the 2007 World Series. Flush with envy and principle last winter, Yankees GM Brian Cashman pledged to develop the Yankees’ prospects. New York kept Phil Hughes and Ian Kennedy rather than trading for Johan Santana. Consequently, Minnesota accepted the Mets’ offer and Santana signed up for six years in plush Long Island.

Expected to be rotation fixtures, Hughes and Kennedy faltered terribly in 2008, failing to win a game. The Yankees, without Santana, missed the playoffs. Faced with the unfathomable, the Yankees have overreacted in the manner of their fictional former employee, George Costanza, to return to October.

The Yankees breathed down CC Sabathia’s neck like an engorged cougar, finally enticing him with a stupefying seven-year $161 million contract (none deferred) including both a no-trade clause and an opt-out clause after three years. They kicked down his door, begged and pleaded to pay him nearly $40 million more than Johan Santana received in practical money (accounting for deferrals) and $61 million more than the one other credible offer.

Santana trumps Sabathia in adjusted ERA+ (144-121), WHIP (1.102-1.244), K/9IP (9.26-7.56), and K-BB ratio (3.72-1 vs. 2.66-1). Santana’s also at a determined weight, he did not pitch 500 innings the past two years and he did not collapse horrifically the past two post-seasons. The Yankees paid more than Santana money for Sabathia, and, at best, they are getting his younger less cute sister with a penchant for pie.

New York flexed their hubris. They got their name, their headline and their opening day starter. The Yankees will probably throw in A.J. Burnett for a five-year $80 million deal as well. Committing a combined $231 million, they may get two starters with an ERA under 4 and a rotation as good as the Red Sox and Rays.

It’s easy to criticize, but perhaps we should credit Brian Cashman. He did, after all, teach A-Rod a lesson last year, only overbidding every other team by $100 million. He also has shown an astute eye for pitching the past few seasons, bringing in Javier Vazquez ($45m), Kevin Brown ($31.5m), Jose Contreras ($21m), Randy Johnson ($31m), Carl Pavano ($39.95m), Jaret Wright ($21m), Roger Clemens ($18.5m) and Kei Igawa ($46m).