well the mets option for glavine is 14 million for next season, so 12.5 per is actually a discount.
and if he doesn't retire after '07, i'm sure the mets would do all in their power to defer the money over a few years, which is what most teams do with these type of contracts, so they won't really be paying him 12.5 in 2008.
it seems like a lot more than it really is... last year glavine was supposed to make 10.5 mill with 5.5 defered... they restructured it to 7.5 in exchange for the option for 2007... older players hardly ever make what the original deal was signed for.