I think we now know why Edwin Jackson hasn't signed yet. His agent (Scott Boras) wants at least 5 years and $60MM, and even the Yankees are balking at that. I wouldn't object to $12MM necessarily in a short-term deal, but 5 years at that rate with what he's capable of is a very significant risk.
I think all the teams are staring at each other right now, seeing if anyone will pay him, and if not, how far down will he lower his price before someone blinks?
Apparently at the beginning of the offseason his asking price was $82.5MM. He's just now come down to 60/5