Cobb was the second-best starting pitcher on the Angels last year. He absolutely should have been re-signed, as the Angels would be getting a proven, quality guy for a low cost. The Angels have far more than enough money to pay a good mid-rotation guy $10 million per year.
There's a club option for a third year, and with the way the Giants have been able to develop pitching recently, they may want to keep Cobb for longer than just the two years.
Alex Cobb would help the LA Angels close in on a competent starting rotation.
If the LA Angels re-signed Alex Cobb, their starting rotation would look like this:
1. Shohei Ohtani
2. Noah Syndergaard
3. Alex Cobb
4. Patrick Sandoval
5. Jose Suarez
6. Michael Lorenzen
Sure, that's not great, but with the trade rumors suggesting the Halos have trade options to add to it, the Halos would have potential to build a really nice rotation. Now, the Halos are in need of multiple starters.
They're basically banking on both signing a key free agent (and the options are dwindling), as well as getting a blockbuster deal done.
This is why losing Chris Rodriguez was a major loss to this club. The Halos did right by re-signing Raisel Iglesias, but didn't sign their other key free agent at a position of need.
Cobb posted an 8-3 record with a 3.76 ERA last season. One of the better players on the team last year, Cobb recorded a 2.92 FIP and 119 ERA+.
Starting pitching options are being eliminated left and right. Arte Moreno needs to have some big moves up he and Perry Minasians' sleeves. Michael Lorenzen-type moves aren't going to cut it.