I was skimming through fangraphs which had an article by our very own Matthew discussing the value of Texeira and comparing him to Helton. As stated in the article, Helton's contract is viewed as a stifling deal even though it is likely very similar to the deal Texeira will recieve.

Matthew points out that Helton is due around $19 million for 3 to 4 more years. Although last year was pretty brutal for Helton, it is probably pretty safe to assume his that he will rebound. I could see him putting together around +20 to +30 run offensive seasons for the rest of his contract. His defensive value probably will average out to around neutral over the life of his contract. This makes him about a +40 to +50 runs above replacement or a 4 to 5 WAR player. Assuming $5 million per win gives us around $20 to $25 million. Once you factor in his sub-par performance last year and his collapse (and injury) potential as he ages the deal looks pretty fair.

If the M's hadn't signed a bargain 1B platoon, it would have been interesting to think about trying to trade for Helton. With the Rockies trying to move salary (Holliday), I'm sure they would love to get out of Helton's deal. The M's with their large payroll would have been a good destination for Helton. Maybe we could have traded horrible contracts to get him. Washburn (or Batista) for Helton would have given them a mediocre pitcher who has an expiring contract which would have helped payroll issues eventually. I don't actually think a deal like that would work but its just intersting to think about. There are plenty of ways the M's can use their large payroll to their advantage when there is talent availible on teams with restricted payrolls (please steal talent from the Marlins).