Veteran relief pitcher Rafael Betancourt announced on Friday that he will retire from baseball, according to GBSports.com's Gerardo Boscan. 

Betancourt spent 12 years in the majors with the Cleveland Indians and Colorado Rockies and had a career ERA of 3.36. 

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Veteran outfielder Shane Victorino signed with the Chicago Cubs on a minor league deal with an invite to spring training on Friday, according to Bruce Levine of WSCR. Ken Rosenthal of FoxSports.com confirmed the report. 

While there isn't much for fans to pay attention to during the early days of spring training, Yoenis Cespedes has given everyone something to watch in his own personal car show at New York Mets camp throughout this week.

The Moneyball philosophy may not have resulted in a World Series title for the Oakland Athletics yet, but it undoubtedly had an impact on the way teams are assembled throughout the league.

Whether we're talking about a small-market team facing a payroll crunch or a large-market team with a seemingly endless payroll stream, baseball is still a business.

Detroit Tigers starting pitcher Justin Verlander was among the victims of an alleged crime spree in which the All-Star ace's temporary license tag was stolen from his truck.  

Matt Cain's struggle to remain healthy continues, as the San Francisco Giants right-hander is dealing with more arm problems early in spring training. It is uncertain when he will be able to return to action.

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The Chicago Cubs traded versatile veteran Chris Coghlan to the Oakland Athletics on Thursday in exchange for right-handed pitcher Aaron Brooks.  

Oakland announced the swap on its official Twitter account.

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In an effort to continue speeding up the pace of games, Major League Baseball will implement a time limit on mound visits by managers and pitching coaches. MLB will also address player safety concerns by updating the slide rules. 

Minority owner and vice chairman of the Chicago White Sox, Eddie Einhorn, died Wednesday at the age of 80.

According to Jay Levin of the Record, Einhorn's wife, Ann, revealed the longtime broadcasting executive died due to complications from a stroke.

Major League Baseball commissioner Rob Manfred released a statement regarding Einhorn's passing, via MLB Communications:

Yesterday it was a Lamborghini, the day before that it was a Polaris Slingshot.