I don't think we should assume that any time a team is interested in a player, it becomes public knowledge. This is true. But we do have an idea of how much their payroll is going to be and where they are looking to spend money. Not precise information, as I was surprised to see the Indians pay 2/$20.5M for Kerry Wood, but a general idea. After Lowe signed, the only team that was interested in signing a pitcher to big money was the Mets (the Rangers were negotiating with Sheets, but they weren't going to go after Perez and his asking price). IIRC, the only other players remaining that were going to get big money were Dunn and Manny. There were more pitchers available than teams willing to spend $10M/year on a player. Perez isn't so much better than the other pitchers remaining that he was worth twice as much as the other pitchers. This is basic supply/demand stuff that the Mets didn't exploit. Now for the Mets, this isn't tragedy. They probably felt that Perez had extra value because he was a player that their own fans recognized. If they had cheaped out on Perez and signed Garland/Looper instead, the papers would have had a field day, especially with the opening of a new park and missing out so closely on the playoffs the last couple of years. But they did overpay, which is all that was originally posted.