In his blog, Peter Gammons makes note of the fact that Randy Wolf, as well as Braden Looper and Jon Garland, are receiving offers from teams of around $5 million for one year. Wolf and Looper and in their 30s, and Garland turns 30 this September. Despite the falling prices, teams don't seem to be lining up for their services. Wolf, as of Friday, was not close to signing with any team, despite reports that the Dodgers were his likely destination.
In essence, Wolf's asking price has been reduced from 3 yr/$30 million, to a more modest 1 yr/$5 million. With Doug Brocail making $2.75 million this season, it seems reasonable to pay a starting pitcher $5 million, especially one who came off a fairly decent 2008.