Update [2006-2-6 23:5:28 by Marc Normandin]: Molina signs with the Jays officially, but I'll let Mark get to that when he has a chance since he was all over it.[END UPDATE]
According to Ken Rosenthal, the Blue Jays are close to signing Bengie Molina to a 1-yr, $5 million contract with a $7.5 million option for 2007. Rosenthal did not provide any specifics about the terms of the option.
Batter's Box writer Pistol posted his thoughts about this earlier today. For the most part, I agree with his take on the acquisition. It's most certainly not the most efficient way to spend $5 million, but considering the length of the contract, it's not entirely unreasonable.
I'll have more on this signing when it becomes finalized.