For those of us who do not watch the transaction wire, anxiously awaiting the Tampa Bay Rays’ next acquisition (I say “us” as a matter of formality, for by the mere presence of this article we can ascertain I am not among those abstainers), last night the Tampa Bay Rays came to terms (terms yet-revealed) with infielder Jeff Keppinger.

The former Houston Astros / San Francisco Giants middle man has already a full litany of research on him. My double-colleague Erik Hahmann (Fangraphs and DRaysBay) examined Kepp and his similarity to also-targeted Ryan Theriot; Marc Topkin — after the signing broke — said “lefty mashaz!” (so to speak); Rob Neyer said “don’t forget he can’t hit righties”; and then Jason Collette said: “Let’s regress those platoon splits.”

Ultimately, the final question must be this: How is Jeff Keppinger — who seemingly shares the same strengths as Sean Rodriguez — in anyway useful to the club?

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When Carlos Pena had his breakout season for Tampa Bay in 2007, it wasn’t as a member of the Rays. Pena was instead just another of the hapless Devil Rays, slogging along in soulless Tropicana Field. Friday, Carlos Pena signed a one-year, $7.25 million contract to return to Tampa Bay and Tropicana Field, where the Rays couldn’t possibly be a more different team than when he first arrived.

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While there are still some intriguing pitchers left on the free agent market — Roy Oswalt chief among them — the free agent pool for hitters is rapidly drying up. Prince Fielder is still on the market, but outside of him, there is little offense to be found outside of a trade. Casey Kotchman, Derrek Lee, Johnny Damon, Vladimir Guerrero, Brad Hawpe — all these guys have some sort of offensive upside, but not much.

As a result of this dearth of offense, one player is beginning to get some attention on the rumor mill: Carlos Pena. Pena looks like the best remaining free agent option for teams looking to add offense (again, in the non-Prince-Fielder crowd), as he hit 28 home runs and posted a .354 wOBA last season with the Cubs. He may be getting older, but there’s still plenty of pop in his bat.

There was wide speculation that the Yankees could sign Pena to fill their hole at DH, but according to a recent report from Jon Heyman, it seems as though they may not have the payroll space to sign him. But there is still a wide number of teams interested in Pena: the Blue Jays, Brewers, Indians, Mariners, Nationals, Orioles, Pirates, Rangers, and Rays (according to MLBTR, at least).

Despite Pena being the best remaining hitter on the market, though, there are some reasons teams should be wary about guaranteeing him too much money: his BABIP, power production, and platoon splits.

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While fans of large market teams get to look forward to the Winter Meetings, us small-market fans have a different, less heralded offseason event to look forward to each year: the Mid-January Bargain Bin Shopping Spree! At this point of the offseason, players that haven’t yet signed with a team start to feel pressure to sign — Spring Training begins in around a month, after all — and there are normally some good bargains that can be found on the market. Ryan Madson appears to be this year’s first victim, although I’m sure there will be many more cheap deals signed in the coming weeks.

One of the most intriguing potential buy-low signings available in this year’s Bargain Bin is Luke Scott. After hitting 27 homeruns in 2010 and posting a .387 wOBA, Scott suffered through a number of injuries last season and eventually had season-ending shoulder surgery in July. He was non-tendered by the Orioles earlier this offseason, and due to his age (turning 34 in June) and injury history, he seems like a good candidate for a cheap one-year deal with incentives.

Dan Connolly from the Baltimore Sun has just confirmed that the Tampa Bay Rays have signed Scott to a one year deal with an option for a second (pending a physical), which would seem to confirm our brief surface analysis: he’s a good buy low candidate, and could provide some cheap power at DH. But on digging into his profile more, there is one reason we might want to temper our expectations for Luke Scott: Tropicana Field.

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It really seems as if Manny Ramirez wants to play in the major leagues in 2012. He’s had a rough go of it since last April, having a brief and ineffective stint with the Tampa Bay Rays that ended when he retired to avoid the ignominy of a 100-game suspension for a positive PED test. Yes, Manny brings baggage, and he will be 40 in May. However, despite the way things ended in 2011, Ramirez has a long record of impressive offensive production. It is hard to say which teams might actually be interested, but what teams even have a place for him? Not many, and league-wide interest (understandably) seems tepid so far. But if we scour the league, some possibilities do appear.

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Sometimes, we can just have a little fun with the numbers. And now that our Dark Overlord has been studiously typing away in that basement of his, we that play in the light can have a little more fun. Yes, he gave us Minor League leaderboards that have all sorts of delightful little snippets of knowledge — what they all mean in sum, who knows, but each is a nugget of beauty in baseball.

* Junior Lake was third-fastest player in all of the Minor Leagues by Bill James’ speed score. He even hit 17 out and showed a .175 ISO, so he’s got some tools. If only he could walk, limit the strikeouts or show some defense. The Cubs could move him to the outfield if he can’t handle the infield, but that only solves one of the problems. And let’s not forget this is the team that drafted Corey Patterson, so even center field won’t solve all of his woes.

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The Rays have been building bullpens on the cheap for years now, not necessarily because they want to but because they don’t have any other choice. They added to their stable of low cost relievers earlier this week by acquiring right-hander Burke Badenhop from the Marlins for catcher prospect Jake Jefferies. In his work for MLB Trade Rumors, our own Matt Swartz projects Badenhop to earn $1.1 million in 2012, his second time through arbitration. The Marlins have been spending like crazy this winter, but I guess they had to trim the fat somewhere.

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Kelly Shoppach is going back to where he started. The 31-year-old catcher agreed to terms on a one-year, $1.35 million contract with the Boston Red Sox — the organization that drafted him in the second round of the 2001 draft. With incentives, the deal could be worth $1.75 million.

Signing with the Red Sox ensures that Shoppach will remain in the American League East, where he spent the past two seasons with the Tampa Bay Rays. His time with the Rays was largely disappointing: he hit .185/.285/.340 in 440 plate appearances. In the four seasons prior, he posted a .343 wOBA with the Cleveland Indians — the fifth-best mark among AL catchers with at least 800 plate appearances.

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Last week, we heard the official word that the New York Yankees had acquired negotiation rights to Japanese infielder Hiroyuki Nakajima. In order for teams to win rights to negotiate with players leaving Japan’s Nippon Professional Baseball (NPB) league, they must participate in a silent auction called the posting system. The winning bid goes to the NPB team currently in control of the player’s rights, unless the team cannot sign a major or minor league contract in 30 days.

The Nakajima posting seemed to go by with little fanfare. The Yankees won the rights to negotiate with Nakajima, bidding a paltry $2.5M, and promptly announced their intentions to make him their second utility infielder.

To me, it seems pretty clear the Yankees had no expectations of actually winning the bid. Not only do they lack a position for Nakajima, they have already been rumored to be seeking a trade partner. On top of that, their bid was low. I mean: Seriously low:

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Episode 113
While the Winter Meetings produced a number of high-profile deals — including, for example, the Albert Pujols signing by the Los Angeles Angels — some other notable transactions have occurred in the four or so days since then. In fact, Monday afternoon saw reports of third baseman Aramis Ramirez signing a three-year deal with the Milwaukee Brewers. Managing Editor Dave Cameron discusses that, Matt Moore’s long-term extension with the Tampa Bay Rays, Rafael Furcal, and more.

Don’t hesitate to direct pod-related correspondence to @cistulli on Twitter.

You can subscribe to the podcast via iTunes or other feeder things.

Audio after the jump. (Approximately 24 min. play time.)

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