IN THE NEWS: It's signing day as the Giants ink free agent OF Barry Bonds and make him baseball's highest–paid player, with a 6-year contract worth $43.75 million.
The Royals sign free agent P David Cone and free agent SS Greg Gagne to 3-year contracts.
IN THE NEWS: Marge Schott appears at the major league baseball winter meetings in Louisville and apologizes for insensitive remarks. Florida Marlins president Carl Barger dies from a heart attack at age 62. Despite the pall cast over the gathering by the death, the players' agents scoop up $228 million dollars worth of contracts in the five days of the meeting. Because of the auction-like atmosphere, the owners will terminate the winter meetings for the next six years.
The Red Sox sign free agent OF Andre Dawson to a 2-year contract.
The Braves sign free agent Cy Young Award and Gold Glove winner Greg Maddux to a 5-year contract, and then trade pitchers Charlie Leibrandt and Pat Gomez to the Rangers in exchange for 3B Jose Oliva. Leibrandt (15–7) saw his star fall in Atlanta when he gave up 11th-inning extra base hits in the 1992 World Series and the 1991 NLCS. Maddux, who turned down a $28.5 million contract extension in mid–season with the Cubs, signs for $28 million, $6 million less than the Yankees offered.
The Cubs sign free agent P Randy Myers to a 3-year contract. Myers had lost his closer role with San Diego for a month after giving up a game tying home run to Andre Dawson on June 2.
The Dodgers sign free agent P Todd Worrell to a 3-year contract.
The Giants sign free agent OF Dave Martinez to a 2-year contract.
IN THE NEWS: The Yankees sign free agent 3B Wade Boggs to a 3-year contract.
The Rangers sign free agent reliever Tom Henke to a 2-year $8 million contract. Henke, who started his career with Texas, had 34 saves in 37 tries with Toronto.
The Marlins sign free agent C Benito Santiago to a 2-year contract. Santiago, who went 272 games with the Padres without a passed ball, will have 11 this year trying to catch Charlie Hough.