Colon will be on Boston, NY or possibly the Padres, who are looking to spend big this offseason, next year.
I don't see us resigning him, as we won't be able to offer the package required.
In terms of the importance of resigning him, I think with Loaiza, Buehrle and Garland we have a solid 3 for next season. I expect Cotts to get a shot at the rotation, as well as our other minor leaguers (Rauch, Diaz).
The other starter will probably be a FA signing, which could be either a big name or just a 5th starter. If the Sox decide to ante up to Mags this offseason and try to keep him long term instead of waiting until after 2004, I don't see them signing a big name FA pitcher.
Here are my top priorities this offseason if I'm KW:
1) Resign Alomar to a 2 or 3 year deal at around $3 million per season.
2) Sign Magglio Ordonez to a long-term deal.
3) Offer Mark Buehrle a 4 year deal, which would add an additional year onto the 3 we already have him for after next season.
4) Look for another starting pitcher to take the place of Colon, who likely (IMO) won't be coming back to town next season.
5) Acquire a centerfielder who can actually field the position and hit as well.