Dave Littlefield announced that the team won’t sign Oliver Perez to a long term contract until after the 2005 season. Even though we all know Perez has several Cy Young Awards in his future and is a virtual lock for the Hall of Fame even at age 23, this isn’t as stupid as it sounds.

The Pirates can save a lot of money by only paying Perez the $320,000 or so he made in 2004. That’s their right - he’s not yet arbitration eligible. That way, if Perez gets hurt this season, they haven’t committed much.

However, Perez is a special kind of pitcher, and might even win the Cy Young Award this season. If he does, he’ll get a bit more than 6 figures in arbitration. And he might be disgrunted in a couple years when he’s a free agent. Is it worth the risk?