What was most interesting about Giambi’s latest comments is the timing of them. Though he reportedly admitted to the BALCO grand jury in December 2003 that he used steroids, Giambi has refused to address the issue publicly and the media has been so busy bashing Barry Bonds that he’s largely been given a free pass.

The fact that Giambi said anything might make the more conspiracy minded wonder if he has some inside knowledge of upcoming developments in one or more of the various steroid probes. What other reason would he have to risk a possible 50-game suspension or the possibility of having the rest of his lucrative contract voided?

That being said, he’s not the first baseball player to say something he would later regret.

Actually, Giambi may have inadvertently done the Yankees a favor by taking some of the heat off his underachieving teammates, who can’t pitch, can’t field, and lately haven’t even been able to hit much. They are so desperate they not only signed Clemens, but have been burning through one rookie starting pitcher a week.

And while it may be too early in the season to panic, all $195 million has done so far this year is buy the Yankees a losing record and a tie for second place 10½ games behind the Boston Red Sox.

“It’s definitely embarrassing,” Johnny Damon said. “We definitely know that we are better than we’ve showed.”

Sports talk shows in New York are filled with speculation that both Torre and Cashman could be fired, which likely would have happened by now had George Steinbrenner not mellowed with age. There’s frustration over the team’s inability to consistently hit, and worry about whether Mariano Rivera might finally be losing his masterful touch at the age of 37.

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The Yankees will get better, because they have too much talent to languish below .500 all season long. But if they don’t turn it around fast, there’s a good chance they’ll not only fail to win their division for the first time in 10 years, but miss the playoffs entirely.

As for Giambi, his best days are already behind him. His power numbers have fallen, he doesn’t hit for average, and he’s at an age where things like the bone spur in his foot that caused him to miss several games are occurring with increasing frequency.

Worse yet, the 2000 AL MVP is at a point in his career where he realizes his accomplishments will always be tainted by being a central figure in the BALCO scandal.

And for that, he’s really got something to be sorry about.