Note: Francisco Cordero is now a Type-B free agent

Under the new rules of the collective bargaining agreement, RHP Francisco Cordero is now a Type-B free agent, and so he will no longer cost his new team any draft picks.

On Monday, SI.com’s Jon Heyman predicted Cordero would sign a two-year, $16 million contract. However, Joe Nathan recently signed a two-year, $14.5 million contract with the Rangers.

In an interview with Jim Bowden on MLB Radio last week, Cordero said he intends to leave the Reds if they do not increase their current contract offer.

Cordero told Bowden the Blue Jays, Red Sox, Angels, Rays and Rangers have all expressed interest in him.

In addition, Jon Morosi of FOX Sports has said the Marlins, Dodgers, and Mets are also among the teams that have expressed interest in Cordero.

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Joel Sherman of the New York Post recently said that a closer is the lone area where they are willing to give more than a one-year contract, though two years is probably the furthest they would go, saying the Mets would be willing to spend ‘$8-$10 million for late inning relief.’

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Michael Baron: (Updated from Nov. 15, 2011) Cordero was very productive in 2011. But he will be 37 in May, and I worry about his knack for pitching to a lot of contact and his home run rate rising in recent years. When seeking a closer, I would think it’s important to find someone who has the ability to miss bats or, at worst, induce weak contact. When looking at Cordero, those keys don’t appear to be there for him at this point despite a low ERA and high save count.

Given what Nathan just signed for, I’d expect Cordero will be looking for a similar multi-year deal which, due to his age, is risky for the Mets. Cordero becomes more attractive for the Mets (and other teams as well) due to the fact he is no longer considered a Type-A free agent, but while he might still be productive, there might still be better values available to them (given what he might be looking to be paid on the free agent market).

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Cordero went 5-3 with a 2.45 ERA with 37 saves in 68 games for the Reds in 2011. The Reds held a $12 million club option but bought him out for $1 million.

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