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Cole Hamels: Six-year, $144M Deal with Phillies

Cole Hamels and the Philadelphia Phillies have agreed to a six-year, $144 million contract extension that will be announced at a noon ET press conference today at Citizens Bank Park. (USA Today Sports)

The deal will also include a vesting option for a seventh year that could make the contract worth in excess of $160 million. It is the most lucrative contract in Phillies history, and the second largest by any pitcher in baseball, behind only CC Sabathia of the New York Yankees, who signed a seven-year, $161 million deal before the 2009 season.

The deal was agreed upon close to midnight ET after Hamels completed a physical conducted by the Phillies.

The agreements culminates a stretch of negotiations that intensified in recent days as the Phillies faced a key decision on Hamels, one of their cornerstone players – whether to lavish a contract with no hometown discount on their left-hander, or attempt to deal him before next Tuesday’s non-waiver trade deadline. The Phillies enter Wednesday 14 games out of first place in the NL East and 9.5 games out of the wildcard