Multiple sources have confirmed that the Phillies will announce that Cole Hamels has agreed in principal to a six-year, $144 million dollar deal. A deal that will make Hamels the richest player in team history.
Hamels’ deal includes an option for a seventh year,according to MLBTR’s Tim Dierkes. 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.
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.
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).
This deal keeps Hamels under Phillies control until he’s 34.
In total, the Phillies are committed to $133 million in 2013 payroll for only nine players. That does not include a $5 million team option for catcher Carlos Ruiz which will surely be exercised, and a possible $15 million payment through arbitration for outfielder Hunter Pence.
You have to give it to the Phillies, they have done some crazy things in years past, but their commitment to their fans, and winning are really something special.
Sorry Texas, Hamels is a Phillie.
The Phillies will announce the deal today, during a Noon press conference.
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