Phillies sign Pedro Martinez. Maybe.....Tuesday?

While Phillies fans were buzzing about Shane Victorino making the All-Star Game, another story broke: Pedro Martinez has signed with the Phillies. Or, at least according to a report from the Domincan Republic, he has. Candela Deportiva is reporting that Martinez has signed with the Phillies for the remainder of the season, with a 4 million dollar contract that would prorate to about half that amount.

When asked about Pedro Martinez, Phillies GM Ruben Amaro initially said he had no comment, but later it has been confirmed that the Phillies are speaking with Martinez and his agent, and a deal could be in the works, pending a physical. The Phillies were apparently very pleased with how Martinez pitched for them during a recent workout and are trying to lure the 37 year old to Philadelphia.

My initial reaction to these reports was sheer horror. Did the Phillies watch Pedro try to pitch last season for the Mets? Did they not see his 5.61 ERA and 1.57 WHIP? Thinking more about it, however, the Phillies essentially are buying a lottery ticket. Pedro Martinez may have nothing left in the tank, but at 2 million bucks, why wouldn't you take a chance that he has something left to contribute? He would slot in as the Phillies 5th starter right now, replacing the revolving door of Rodrgio Lopez and Antonio Bastardo, so how could he not be an upgrade? A rotation of Cole Hamels, Joe Blanton, Jamie Moyer, J.A. Happ and Pedro Martinez isn't great, but it's not terrible, either.

Plus, the signing of Martinez in no way hinders the Phillies from acquiring Roy Halladay. In fact, it might actually help bring Doc to town. If Pedro pitches well, then the Phillies would be willing to part with J.A. Happ, someone Toronto is believed to covet, to get Halladay. With Pedro in the rotation, losing Happ isn't as big of a deal and the Phillies can have a rotation of Hamels, Halladay, Moyer, Blanton and Martinez. That's a World Series rotation.

Of course, all of this talk is just talk if the Phillies don't actually sign Pedro. The speculation right now is that that Martinez is going to come to Philly and have a physical and then decide if he wants to play for the Phillies. While I initially won't like the sight of Martinez in a Phillies uniform, this is really a no-lose situation. If Pedro pitches well, the Phillies have made a hell of a deal. If he struggles, the Phillies simply wasted 2 million bucks. Of course, if this signing somehow leads to Roy Halladay being a Phillie, then this is a brilliant move.

POLL: Do you want Pedro in a Phillies uniform? Vote to the left!

UPDATE: Looks like Pedro will have an extensive physical Tuesday, and if he passes it, he will be a Phillie. I'm not that excited about the move, but Pedro should do just fine as a 5th starter. Hopefully he doesn't do anything to disrupt the clubhouse.