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Update (01/22/2014 7:55 am PST): Masahiro Tanaka has agreed to a 7-year, $155 million deal with the New York Yankees, according to multiple sources.

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Original article:

Masahiro Tanaka is one of the most prized, and most expensive free agent pitchers still out in the market.

Unless there is another move where the Los Angeles Angels of Anaheim pull the rug from underneath every team, the Halos stand little-to-no chance of signing Tanaka.

Angels owner Arte Moreno has made comments saying it would be troubling to fit Tanaka in their budget, as they are close to the $189 million dollar cap. With 4 players set to make over $15 million this next season, the Angels only have one more big splash to make.

Don’t disregard Moreno and his comments, however, as recent history has shown that the Angels swooped in at the last second and took Albert Pujols and Josh Hamilton in back-to-back offseasons.

Realistically speaking, the Angels will most likely be targeting the following pitchers:

Matt Garza1. Matt Garza

Garza is projected to be worth between $14 million and $17 million a year. Garza has been and continues to be pursued heavily by the Angels, but missing out on him would mean moving to less-desirable options like Paul Maholm, Jason Hammel or Chris Capuano.

Garza is likely a long-term commitment, as he will be seeking stability in a career marked by recent change. Garza is said to be looking for a 4-6 year deal, and the reality remains – Mike Trout will need a massive extension soon. If the Angels work a deal for Garza, look for them to make a corresponding trade somewhere down the line to dump payroll.

Ubaldo Jimenez2. Ubaldo Jimenez

Reports have surfaced that the Angels “prefer” Garza over Jimenez, due to the team wanting to keep their first round pick in this year’s draft. Jimenez will turn 30 this season, and had a dreadful 2012 – posting a 9-17 record with a 5.40 ERA for a offensively-challenged Cleveland Indians squad.

But being in the middle of his career could work in Jimenez’s favor. Jimenez will be 4 years out of a 2010 campaign in which he won 19 games while pitching for the Colorado Rockies and making the majority of his starts in hitter-happy Coors Field. He showed signs of life last season in Cleveland, posting a respectable 3.30 ERA, racking up over 182 innings pitched. If Jimenez can be reliable once again, he could be a bargain signing with an average contract.

Ervin Santana Angels3. Ervin Santana

Bringing back Santana is also an option, but if the Angels sign either Jimenez or Santana, it means they will have to surrender their a draft pick because both pitchers rejected the qualifying offers from their respective teams. Santana is a fly ball pitcher, and Angels fans remember him for the homers he used to give up on a regular basis.

However, Santana went to a smaller market team (Kansas City Royals), and revamped his repertoire while posting a modest 3.24 ERA. Santana has tallied 3 seasons of 16 wins or more, and if he can capture some of his former magic with the Angels, he could find himself in the middle of the Halos’ rotation.

Bronson Arroyo4. Bronson Arroyo

Arroyo is an aging veteran, but would be the fail-safe option for the Angels. Arroyo is a ground ball pitcher, which would suit him nicely at Angel Stadium. He would be a back-end rotation option on a shorter deal – something to the tune of 2-3 years and likely $10-12 million per season.

Arroyo matches up similar to Capuano – he could fit into the rotation or move to long relief with the emergence of Skaggs.

The club has continued to say they would like to add another arm to the rotation, which would give the team at least one extra player to cycle in the rotation. Beyond the current 5 projected starters the team already has in Jered Weaver, CJ Wilson, Hector Santiago, Garrett Richards and Tyler Skaggs, there is not much MLB-ready talent for the upcoming season.

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