the guy waiting in wings looks nearly as good... and not losing much...
go with the younger option and save money, because it's nearly even, anyway. that 11m invested elswhere can add more value for sure. look at the difference between those two palyers above... can you add another player that will provide a greater increase in R-Diff? almost certainly so... even if 11m doesn't cover entire salary.. virtually no increase vs any increase is a win-win context.
29 year old catcher isn't the same as "29" at other positions. he's got likely ~2-3 years, maybe at most 5 with great luck, at best at his current ability. if you do sign him, look to get rid of him withn 1-3 years.
the guy waiting in the wings makes this a no-brainer... it's difficult because you are emotionally attached to the player
that's fine too.. you like him, keep him... don't feel bad if you wina few less games though. just a video game, either way.