ANGELS UPDATE: ISMAEL VALDES RETURNS TO SOUTHERN CALIFORNIA, THIS TIME AS AN ANGEL.

Byline: Joe Haakenson Staff Writer

Pitcher Ismael Valdes agreed to a one-year major-league contract with the Angels on Wednesday.

The oft-maligned but talented right-hander is coming off the worst season of his career, which lowered his market value and made him a perfect fit for the cost-conscious Angels. Valdes, who made $5.7 million last season with the Cubs and Dodgers, will make $2.5 million in 2001 with a chance to make an additional $2.7 million in performance bonuses.

``You're looking at a situation where he can have a turn-around year,'' Angels general manager Bill Stoneman said. ``People who buy stocks do the same thing. It's an ideal situation.''

Valdes' most recent performance sent his price downward. He was 2-7 with a 5.64 ERA in 21 games (20 starts) last season, including an 0-3 mark in nine games with the Dodgers.

He hardly resembled the pitcher who was highly touted as he came up through the Dodgers organization. Valdes, 27, won 10 or more games four consecutive seasons from 1995-98. His best years came in 1995 (13-11, 3.05 ERA) and 1996 (15-7, 3.32).

But last season Valdes was plagued with shoulder tendinitis and a bad hamstring. He said the shoulder problem was caused by not preparing properly during the offseason.

``Last year, I got married and I had a lot of things to do,'' Valdes said from his home in Ciudad Victoria, Mexico. ``This year, I was able to prepare myself like never before. I've been working out for the last three months. I'm as strong as a bull.''

The Angels won't ask Valdes to be No. 1 or No. 2 in their rotation, just to give the team innings.

``When you look at what we've been trying to do, it's been to add pitchers who can give us 200 innings,'' Stoneman said. ``Valdes is a guy with a history of that.''

Valdes has pitched 200-plus innings twice, and has reached 195-plus two other times. Because of injuries, he pitched only 107 innings last year.

Another selling point for Valdes was manager Mike Scioscia, who knew the pitcher when they were in the Dodgers' organization.

``Mike Scioscia is a great guy and someone I worked with,'' Valdes said. ``I love Mike.''