Brad Penny clearly would have value to the Angels if he clears waivers on Saturday when the 72-hour window for released players closes. The veteran right-hander was handed his release by the Red Sox on Thursday to open roster space for reliever Billy Wagner, acquired from the Mets in a waiver deal.

Penny, 31, signed a $5 million free-agent deal with the Red Sox, but he will not reach any of the bonus incentives for innings pitched. He was 7-8 in 24 starts and 131 2/3 innings for Boston with a 5.61 ERA. His bonuses in $500,000 increments were to kick in with 160 innings pitched.

Penny’s performance this season was a far cry from the back-to-back 16-win seasons he delivered for the Dodgers in 2006 and 2007. He started the ’06 All-Star Game for the National League in Pittsburgh – yielding a mammoth homer to Vladimir Guerrero – and was third in the ’07 NL Cy Young Award balloting after going 16-4 with a 3.03 ERA.

Eleven American League clubs would have a shot at claiming Penny before the Angels, whose record is surpassed only by the Yankees. With less than a quarter of the season remaining, he’d amount to a bargain-basement pickup at less than $100,000 with the Major League minimum at $400,000.

With the Angels going with young Trevor Bell in the fifth spot in the rotation, Penny would be a natural fit for the estimated six starts remaining. He’d have to sign by Monday to be eligible for a postseason roster spot, unless an injury opens space.

Penny certainly showed in 2003 with the Marlins that he didn’t mind postseason pressure, twice beating the Yankees in the World Series with a 2.13 ERA in his two outings.

Penny requested his release on Wednesday night.
 
“Because we ended up letting him go, our feelings don’t change about him personally,” Boston manager Terry Francona said. “We really appreciated the way Brad went about his business. He was a good teammate, and he worked hard. We’re always pretty honest about the fact that we do what’s in the best interest of the organization and the team, and we try to tell the players that.”