It's not confirmed yet, but it looks like Carlos Lee is about to become a Houston Astro...from 2007 until 2012. I have no idea what $14 or $15M a year will look like in six years, but I'm guessing it won't be good for a guy who should be DHing.
Back in July, I had no idea how high this market would go for some players, and when Caballo rejected Doug Melvin's final offer, I had this to say:
Most of that is still true, although signing Carlos Lee to a $48M/4y contract would've--and this is just bizarre--made him tradable. If the Astros resign Aubrey Huff--or even if they don't, and Morgan Ensberg bounces back from a rough season--they could have a formidable offense, even with Adam Everett and Brad Ausmus playing every day.