Minaya gets his extension. Three years with some option years, and he now probably makes north of a million a year.
It's obvious that priority number one in Queens is to restructure the bullpen. There are many ways to go about doing that. If you're kind of desperate, you can pay a ton of money for arms who did well last year, hoping that the inherently misleading sample sizes of relievers will serve as good predictors for how they'll do next year (we'll call this the Chris Hammond approach). You can also try to mix a bunch of scrap metal together and hope it forms Voltron. Of course you can split the difference too.
I don't know that anyone has a monopoly on wisdom when it comes to putting a bullpen together, but one tends to use the Chris Hammond approach if they feel particularly pressured to fix a bullpen problem yesterday. Now that Omar has all kinds of job security, one wonders if he's going to take that tack and throw a billion dollars at K-Rod, or if instead, he's going to take a couple of weeks to think about ways to address the problem in a more sophisticated manner.