The Philadelphia Phillies and Cole Hamels agreed today to a three year contract worth $20.5 million. Hamels will earn $4.35 million in 2009, $6.65 million in 2010 and $9.5 million in 2011. This will be a big pay raise from the $500,000 he earned in 2008 when he led the team through October winning both the NLCS and World Series MVP honors.
Hamels will earn an additional $500,000 in the following year if he wins the Cy Young Award or an additional $250,000 if he comes in second or third in the balloting for the award.
I would have liked to see the Phillies sign him for a longer deal but Pat Gillick's philosophy of not committing to more than 3 years to a pitcher must still be in place. This will at least mend the relationship the team had with Cole after last season's renewal where he walked away saying he was offended.The team has control of Hamels through 2012 setting them up for another contract extension.
Hopefully this is one of many contracts Hollywood Hamels signs with the Phillies.
For full coverage of the rivalry between the Philadelphia Phillies and New York Mets, be sure to check out Phightin' Phils Phorum and Mr Mets Daily.




