You are surely not comparing Molina money to the what Pujols wanted, or even what the Cards offered him.
It's not quite the same amount but it's the same principle. $20 M a year is still ~12% of our payroll. That's an awful lot to put out on a contract that looked bad on the day it was signed.
The Cards held their line with a 31 year old slugger, not giving him a super long deal for too much money. He projected to be bad by the end of the deal even though he probably would have added value for the first 1/3rd of the contract.
The Cards rightly decided not to pay Pujols for past performance. It's difficult to consider the Yadi deal much more than a golden handshake for the age 35-37 seasons of a catcher.
The deal is simply too long - the third year especially is a killer. Catchers are the single worst aging position. The physical demands of the position are high. Lots of guys are done around his age. Yadi has already caught the 18th most games in history, and some of the guys above him probably took roids. And we are signing him for 3 years? To get any decent value out of this deal, he will have to be #4 all time in games played by a catcher at the end of the contract, (#3 ex-roided out Pudge.) I hope I'm wrong, but yeesh, that strikes me as an extremely optimistic plan.
There's other criticisms one could levy - why sign it so early in the year? Why not wait until the year was over and he was still healthy? Effectively, we gave him a 4 year deal. We gave a 34 year old catcher a four year contract. Just nuts.
What is the plan with Kelly now?
Would the Cards have been better off putting this money somewhere else? Etc.