MLB free agency taught online sportsbook bettors, fans and general managers something last season: forget parity. Instead of building through drafting and developing, you can win the World Series if you spend an exorbitant amount of money on free agents.

Mark Teixeira, C.C. Sabathia and A.J. Burnett amounted to a World Series title for the New York Yankees. No team was more jealous of the Bronx Bombers’ success than the Red Sox.

The logical solution is for Boston to open its wallet and match New York’s spending spree of last year. But if I’m Theo Epstein, I have to wonder if 2009-10 is the right year to splurge. The top free agents this time around can’t match last year’s crop.

Take Boston’s rumored targets, for example. Matt Holliday is a solid player but his power comes and goes and he’s not a great defender. By comparison, Mark Teixeira is a lock for huge power numbers and Gold Glove defense every season.

C.C. Sabathia was the big pitching fish last year but there’s no equivalent piece on the market; Roy Halladay is just as good but can only be acquired via trade and forces the buyer to mortgage some key players and prospects. That leaves John Lackey as the prize pitcher in MLB free agency. While Lackey is a very good player and proven winner, he’s two years older than C.C. and has started just 24 and 27 games over the last two years. Would it be wise for Boston to shell out $15-$20 million a year on an injury risk like that?

Be careful, Theo; your Red Sox may be better off waiting for 2010-11 before you try regain your status as top sports picks.