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So far in baseball's Year of the White Elephant, clubs have released 10 ex-regulars owed $53 million--more than 11 teams' entire payrolls. Many others cling to jobs despite performances worth a fraction of their bloated contracts (Exhibit A: Chan Ho Park).
Dumping such underachievers is like peddling a stock after it has crashed. Selling high requires a hard look at today's solid performers. Five whose contracts might outlast their skills:
* Jeff Bagwell, 1B, Astros. In decline since 2000, Bags' .818 on-base plus slugging percentage (OPS) this season is below average for first basemen. The contending 'Stros won't trade this local icon, but his contract ($52 million guaranteed through 2006) will make them wish they had.
* Darin Erstad, OF, Angels. His .274 average and fine glove might attract suitors--IF they overlook the absence of walks, his declining power (five extra-base hits this year), and the $24 million he's owed through 2006.
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