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8:25am: Hamels' deal includes an option for a seventh year, MLBTR's Tim Dierkes has learned. It's a club option at $20MM or a vesting option at $24MM. The option vests if three conditions are met: Hamels is not on the disabled list with a left shoulder or elbow injury at the end of the 2018 season, and he pitches 200 innings in 2018, and he pitches 400 innings in 2017-2018 combined.
If the club exercises its option, Hamels will earn $158MM over seven years. If the option vests, he'll earn $162MM over seven years ($1MM more than Sabathia).
7:25am: The Phillies have agreed to sign Cole Hamels to a six-year contract extension, ESPN.com's Buster Olney reports (on Twitter). The left-hander will obtain $144MM over six years for an average annual value of $24MM, Jon Heyman of CBSSports.com reports (on Twitter). He has passed his physical, Bob Nightengale of USA Today reports (on Twitter).
Hamels' extension will be the second-largest contract ever for a pitcher, trailing only C.C. Sabathia's seven-year, $161MM agreement with the Yankees. Hamels obtains the largest extension for any pitcher in history, surpassing Johan Santana's $137.5MM deal with the Mets. Hamels obtains the same AAV as teammate Cliff Lee, who signed a five-year, $120MM contract with Philadelphia two offseason ago.
Hamels, 28, has a 3.23 ERA with 8.8 K/9 and 2.2 BB/9 in 133 2/3 innings for the Phillies this year. He averaged 31 starts and 206 innings per season from 2007-11, his five first seasons in Philadelphia's rotation. Agent John Boggs represents Hamels, the 2008 World Series MVP. The contract covers his age 29-34 seasons.
If Hamels had reached free agency, the California native would have drawn interest from many teams, including, perhaps, the Dodgers. Instead, teams looking to sign starting pitchers this coming offseason will set their sights on the likes of Zack Greinke, Anibal Sanchez and Edwin Jackson.
The Phillies now have three starters earning $20MM per season: Hamels, Lee and Roy Halladay. As ESPN.com's Jayson Stark reports, there had never been a team with two $20MM per season starters until the 2012 Phillies took the field (Twitter link).
Ken Rosenthal of FOX Sports first reported the sides were nearing an extension. Photo courtesy of US Presswire.
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