When the Yankees re-signed Chase Headley to a four-year, $52 million deal on Monday, it was seen in some circles as another example of general manager Brian Cashman overpaying for a player and delaying an inevitable rebuilding process for an aging team.

Both theories are wrong, underlying why the Yankees had no choice but to re-sign the switch-hitting third baseman acquired last July in a trade with the San Diego Padres.

Headley is an above-average player and capable of delivering a bargain for New York over the next four seasons. In 2014, good players are worth $13 million per season. When you factor in his solid play in New York (.371 OBP), good defense and versatility from both sides of the plate, the cash outlay makes sense.

Furthermore, the Yankees can't rebuild. With a business structure focused on competing every single season, Headley's contract was really a decision made last year when the team spent over $500 million on talent.

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Joe Giglio may be reached at jgiglio@njadvancemedia.com. Follow him on Twitter @JoeGiglioSports. Find NJ.com on Facebook.