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At least until Huston Street came along, Billy Beane made a killing using the closer position as an ATM machine. There's almost nothing easier than making an ok (and cheap) pitcher look like a fantastic (and expensive closer). Pump up a cheap pitcher and sell him the next season. Instant profit. Isringhausen, Koch, whoever was before Isringhausen.
Anyway, that is apropo of dodging a bullet by letting Gagne go. That's generally the best practice with a closing pitcher.
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