Tony DeMarco

The New York Yankees after their latest Teix-mas spree: $423.5 million spent, the four biggest contracts in the game (but still a lower payroll than last season), a significantly improved roster, and still no guarantee of winning the American League East.

And as for the other two main players in this holiday season drama?: The Boston Red Sox and Los Angeles Angels do have a couple of things in common — getting outbid by the Evil Empire, and having no desire to take Manny Ramirez as a consolation prize.

But otherwise, there is an important distinction to be drawn here: In Red Sox Nation, this one hurt. There’s no doubt about it, the Red Sox really wanted free agent first baseman Mark Teixeira. He is, in fact, the embodiment of the type of player they seek.

The Angels, on the other hand — and you can characterize this as, a) stubborn, b) smart, or c) both — wanted to keep Teixeira, but drew their line in the sand, and weren’t going beyond it.

Maybe this simply can be chalked up to the differences between operating in the powerful AL East and the pitiful AL West. But as funny as it sounds, considering the Angels are the team that actually lost Teixeira, this one might hurt the Red Sox more.

The Angels lost a very important player, albeit one who they had for only three months, and who made no difference in their postseason fate.

The Red Sox lost what could have been a franchise-type player halfway into the next decade, and they lost him to the rival Yankees.

Red Sox officials had to be thinking they were going to Teixeira’s Dallas-area home last week to potentially close the deal. Instead, they got a slap of reality: Their offer of eight years and $168 million wasn’t enough.

Forget that e-mail principal owner John Henry sent to the media after last week's meeting; the one that talked about how the Red Sox were impressed with Teixeira, but weren’t going to be a factor in negotiating for the slugger's services any longer.

They kept in touch with Teixeira and agent Scott Boras in the ensuing days, and even slightly upped their offer. But it still wasn’t enough, and now they are left with the ongoing health questions regarding designated hitter David Ortiz and third baseman Mike Lowell — and how much each can contribute in 2009 and beyond.

So now what?

They can do little for the time being, except to see how Ortiz and Lowell perform early in 2009, and then, if necessary, acquire a stop-gap bat such as Miguel Tejada, Adrian Beltre or Aubrey Huff (they have shortstop Julio Lugo and prospects to deal).

They can make that type of move now, or sign one of the many free-agent corner/DH bats who would offer manager Terry Francona flexibility at those five spots.

They could go a different direction and add more pitching.

Or they can wait for a 2010 free-agent class that could include Matt Holliday, Carl Crawford and Adam LaRoche, among others.

They do have an immediate need for a catcher, and could do a deal with either Arizona (Miguel Montero and possibly Eric Byrnes) or Texas (Jarrod Saltalamacchia). Or, since they offered Jason Varitek arbitration and were surprised when he didn’t take it, they always could bring him back.

But they still will run pitchers Josh Beckett, Jon Lester and Daisuke Matsuzaka out there, bring on closer Jonathan Papelbon for key ninth innings and have lost only Varitek and Coco Crisp from a team that went to Game 7 of the American League Championship Series last season.

When you think about it, Arte Moreno and Boras weren’t a good match anyway. The Angels owner likes to make a big and quick strike in his winter dealings; the notorious mega-agent will wait as long as it takes for the best offer to emerge for his client.

So we probably shouldn’t have been surprised when nothing could be worked out with Teixeira. The Angels went to eight years and $160 million, and when that drew nothing more than a quick no response — they made a point of saying they were taking their cash and going home.

That raises the question of who’s more stubborn, Moreno or Boras? But this is how the Angels roll.

They veered from their usual operating mode by gambling on adding Teixeira last July. To get the deal done, they even gave up Casey Kotchman, who literally grew up in the Angels organization, as his father Tom is a longtime instructor/scout/coach/manager in the system.

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And you know what? As admirably as Teixeira performed in Angels red, the bottom line was almost exactly the same with him as they were without him. Which goes back to the Angels’ whole operating philosophy — nobody is bigger than the organization.

So back they go to that thinking — an expensive lesson learned — and come April, they still will be a prohibitive favorite in the AL West, even without Teixeira and closer Francisco Rodriguez, who signed with the New York Mets.

They have re-signed underrated Juan Rivera, and appear to be closing in on a deal with Brian Fuentes, who at the very least would be a solid late-inning option with Scot Shields and Jose Arredondo.

Kendry Morales is tearing it up in winter ball and is the leading first-base option at this point, but a left-handed free-agent bat could be signed. Raul Ibanez would have been a nice fit, but there still are a handful of quality options.

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But more in character would be a trade for Joey Votto, or opening up a spot at third base for Brandon Wood by dealing Chone Figgins.

And don’t yet dismiss the Jake Peavy trade option. Pitching, after all, is the No. 1 ingredient in manager Mike Scioscia’s winning formula.