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From Extra Bases:

The Red Sox envision Smoltz as a starter, but he will not pitch at the season's outset. He is coming off of major shoulder surgery, which the the team vetted extensively in their pursuit of Smoltz. Epstein called Smoltz "a physical freak," and said, surprisingly, that Smoltz would be capable of pitching by April, perhaps even Opening Day. But the Red Sox, foremost, signed Smoltz -- who has a 2.65 ERA in 40 postseason games, 27 of which were starts -- to pitch in October. They slowed his rehab down to ensure he will be 100 percent when he returns, the date of which has not been determined. The date will not be when Smoltz is merely able, but when he is fully prepared.

In November, Smotlz sent a video to teams he was interested in playing for, throwing in a bullpen and chucking a football. The Red Sox were impressed, so they sent front office representative Ben Cherrington, trainer Mike Reinhold, and pitching coach John Farrell to Atlanta to watch him pitch. "Even for a guy who's been in the big leagues for 21 years," Smoltz said, "That really impressed me."

Smoltz's contract is for one year, but he sees himself pitching for several more years. He'll turn 42 in May. "Age is just a number," Smoltz said. Smoltz will earn $5.5 million guaranteed with $5 million in bonuses. According to the Associated Press, Smoltz's bonuses are based on time on the active 25-man roster: $125,000 for his first day, $35,000 a day from June 1 through Oct. 3, and $500,000 for Oct. 4, the last scheduled day of the regulat season.

Having lost Smoltz to the Red Sox, the Atlanta Braves agreed to terms with Japanese starter Kenshin Kawakami earlier this week... and reportedly agreed to 4-year, $60 million deal with Derek Lowe today.

The Braves may have lost Smoltz, but their new rotation has the potential to be impressive:

Derek Lowe - 14-11, 3.24 ERA, 147 Ks with Dodgers in 2008
Kenshin Kawakami - 9-5, 2.30 ERA, 112 Ks with Chunichi Dragons
Javier Vazquez - 12-16, 4.67 ERA, 200 Ks with White Sox
Jair Jurrjens - 13-10, 3.68 ERA, 139 Ks
Jorge Campillo - 8-7, 3.91 ERA, 107 Ks
Tim Hudson - 11-7, 3.17 ERA, 85 Ks (return in snd half)