As an Oriole fan, I for one am glad that Mark Teixeira is not an Oriole today. I may be in the minority, but the Orioles could not afford to pay him and still be contenders in the future. Andy MacPhail is doing a great job trying to acquire young talent for this team and build through their farm system, something the Yankees would never do.
The Orioles have a solid core of good young players such as Markakis, Roberts, Jones, Guthrie, Weiters, and Matusz. If the Orioles are ever going to be able to compete with the Yankees, Red Sox, and Rays, they will have to stay their current course.
Signing Teixeira would have looked great for the Orioles since he would be coming back "home" to the Baltimore area, and I'm sure the fans would have been happy to see him in the orange and black. I, however, am not completely sold on Tex. He is a good hitter and a good fielder, but he is not worth the money he just signed for. You can't tell me that Teixeira is worth more than Albert Pujols!
Peter Angelos doesn't like to spend his money, and if the Orioles would have coughed up the $184 million that Tex just got from the Yankees, the O's would have not been able to use that money in the coming years when the talent level on this team is increasing, or on their own young star, Nick Markakis.
If the Orioles are going to make any more moves this offseason, I would like for them to make a play for Ben Sheets or Derek Lowe. Both of them would be way cheaper than Teixeira and would fill the biggest need on the team—pitching. Outside of Jeremy Guthrie, the O's don't have a lot of good young pitching. Sheets or Lowe would bring a nice veteran pitcher to help mentor the O's young staff.
The Orioles offense last year was pretty solid with Markakis, Huff, Roberts, Mora, and Scott all having good seasons. The main problem was that the pitching was awful and could not compete with the likes of the Red Sox and Rays.
So far, the best move of the O's have made this offseason is to not sign Tex to that huge monster deal. The Orioles are on the right path and just need to add pitching. You can never have enough pitching, and as of right now the Orioles don't have much. So they just need to add a veteran pitcher or two and keep building through the farm system. It's the only way they will be able to compete in the AL East in the next few years.