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If you try to project Fielder's aging curve and production, I don't think it's justified even if it's just a 5-year contract, especially if the club is in rebuild mode. I'm almost inclined to hope that Texas takes Fielder so it takes care of a number of problems. I and others have tried to guesstimate Fielder's value and I can't justify giving him more than about $22MM a year over five or six years. He's a great bat but he's not that awesome in all aspects of the game that you should commit that much money to him, no matter how much Boras tries to sell it. Pujols is an entirely different monster as I'm sure you're aware of.
Prince Fielder will sell tickets, but I think the money is better spent elsewhere. If they had been serious about Fielder, they would have kept Marshall and maybe kept Ramirez or tried to sign Jose Reyes. They did not. This is a line of reasoning separate from the "does Fielder deserve the Captain Obvious contract" but given what has transpired so far this offseason and the dearth of position player talent in next year's free agency class, it wouldn't have made sense to sign him anyway. Just my opinion.
I wasn't arguing whether it makes sense for the Cubs to sign him for more than Pujols money, but I think that it could make sense for another club since Pujols likely would have gotten more per year if he was willing to take less years.