I often wonder how teams justify these long-term deals in the post-steroid era, when players seem to be losing it by age 34 (like they used to in the old days with only rare exceptions).
But I would point out that, if the current rate of increase in salaries continues for the next 8-10 years, these deals make a ton of sense. A 37-year-old Lester would not be worth $25 million in 2015, but by 2021, that may be the going rate for a fifth starter!
To me, it's not suprising that a guy like Stanton commands $25m/year. What's surprising is that Nick Markakis commands $11m/year. I like Markakis, but ... at some point a team needs to just give a rookie a shot, save $10.5m/year, and take its chances.