As you may have heard, the Mets took back LHP Pedro Feliciano on a minor-league deal. Feliciano spent two years in “pinstripes,” developing arm troubles in Spring Training 2011 and pitching all of 10.1 innings on rehab assignments with several Yankee affiliates. For that, Feliciano received a cool $8 million.

But you already know all this. You probably also know that the Yankees can ill afford, with their impending $189 million limit, to make moves like this again. However, even the one-year deals they seem to be specializing in these days assume a certain risk — namely, they’ve been offered almost exclusively to players on the wrong side of 32 with recent injury histories.

So before you pencil in Matt Diaz on your Opening Day scorecard (and guarantee him $1.2 mil in the process), take a look at these eight cases that seemed like bad ideas at the time and turned into something even worse due to injury, age, or general ineptitude. If all eight players had been signed at once, they would have yielded a collective -4.7 WAR and cost nearly $15 million (in 2012 dollars, h/t Baseball-Reference) for 156 total games. Not chump change when you have a $275 million DH with two bad hips, folks.

DISCLAIMER: If you’re looking for everything from the ridiculous (Igawa, Pavano, Jim Leyritz’s “million-dollar home run”) to the sublime (Mo and Andy missing most of ’12), you won’t find it here. This is purely to illustrate how the Diazs and Aardsmas of the world add up.

Dale Sveum, 1998 (34 years old at the time he signed)
One year, $800,000 ($1.14 million today): .155/.203/.155 in 30 games (-0.8 WAR)
After posting a .798 OPS over 379 PAs for the Pirates in 1996 and 1997 (Scott Brosius: .576 OPS for the A’s in ’97), the reserve third baseman fell apart. He retired midseason, became the Yankees’ bullpen catcher for the rest of ’98, then unretired and played 49 more games for Pittsburgh in 1999.

Roberto Kelly, 2000 (35)
One year, $800,000 ($1.08 million today): .120/.185/.280 in 10 games (-0.5 WAR)
Returning after a seven-year exile, Kelly was just one of a parade of reserve outfielders who were one-and-done Yankees in ’00, also including Jose Canseco, Glenallen Hill, Lance Johnson, Felix Jose, Luis Polonia (third go-round with NYY), and Ryan Thompson.

Henry Rodriguez, 2001 (33)
One year, $1.5 million ($1.97 million today): .000/.000/.000 in 5 games (-0.3 WAR)
Henry Rodriguez had the career of an NFL running back. In his age 28 through 32 seasons, he averaged 57 extra-base hits a year with an OPS+ of 119. At ages 33 and 34, went .036/.152/.036 in 33 TOTAL PAs. Done at age 35.

Gerald Williams, 2002 (35)
One year, $2 million ($2.58 million today): .000/.105/.000 in 33 games (-0.5 WAR)
This is a tricky one, and a technicality. Gerald was released by the Devil Rays in June 2001 and picked up soon after by the Yankees, who were not on the hook for the rest of his ’01 salary but did incur a vesting option for 2002. Still, even if it wasn’t their money to begin with, the decision to stick with Williams for a second year backfired: 0-for-17 while providing negative value on defense.

Travis Lee, 2004 (28)
One year, $2 million ($2.46 million today): .105/.150/.158 in 7 games (-0.3 WAR)
The only player on this list who was under 30 when he signed, Lee sandwiched two respectable seasons with Tampa Bay around this injury-plagued disaster in New York.

Octavio Dotel, 2006 (32)
One year, $2 million ($2.31 million today): 10.80 ERA, 2.90 WHIP in 14 games (-0.5 WAR)
I had such high hopes for Dotel in a Yankee uniform. Fans of 12 other Major League teams have had high hopes for him in their uniforms over the last 14 years. 2.90 WHIP!!!!!

Morgan Ensberg, 2008 (32)
One year, $1.75 million ($1.89 million today): .203/.263/.243 in 28 games (-1.0 WAR)
Ensberg is the only player I’ve included who was worth a full win below replacement in his season in pinstripes. You could see the decline coming when his walk rate started to decrease in 2007 (combined 186 walks for a .391 OBP in ’05 and ’06). He never played in the majors again.

Randy Winn, 2010 (35)
One year, $1.1 million ($1.17 million today): .213/.300/.295 in 29 games (-0.8 WAR)
Not a popular move when it went down, though Randy is by all accounts a nice guy. But he’d been a regular player for nine years and just couldn’t adjust to a reserve role. Played somewhat better for the Cardinals after being released at the end of May.

The Yankees have actually been pretty lucky in recent years when it comes to veteran free agents. They got one good and one bad year each from Eric Chavez and Andruw Jones on one-year deals. Raul Ibanez, frustrating as he was at points last year, was the star of the postseason. Similar contracts handed out to Bartolo Colon, Freddy Garcia (OK, just his first one), Hiroki Kuroda, and Andy Pettitte have been worth the investments. And none of these contracts will be long enough (cough, Steve Karsay) to hamstring the team for several years. But buyer beware: Any one of these aging players* could become the next Morgan Ensberg. That would not bode well for a team hoping to stay competitive on a budget.

*Except for Mo. And probably Andy.