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Posted: Saturday January 17, 2009 12:28PM; Updated: Sunday January 18, 2009 10:57AM

Hamels gets 3-year, $20.5M extension

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By Jon Heyman, SI.com

Ace left-hander Cole Hamels and the Philadelphia Phillies have reached agreement on a three-year extension worth $20.5 million, SI.com has learned.

The new deal will pay the Phillies' World Series hero $4.35 million this coming season, then $6.65 million in 2010 and $9.5 million in 2011.

Hamels' base salary also will increase by $500,000 in any season after he wins a Cy Young Award and by $250,000 if he finishes second or third in Cy Young balloting.

Hamels, 25, went 14-10 with a 3.39 ERA in 2008, then dominated in the Phillies' march to a World Series title, winning four of his five postseason starts. In the Series itself, he went 1-0 with a 2.77 ERA in 13 innings over two starts (with a no-decision in the Phillies' clinching Game 5).

In three major league seasons, the lefty is 38-23 with a 3.43 ERA and 518 strikeouts in 543 innings.

The deal means Hamels and the Phillies will avoid arbitration this year. The Phillies went through a painful arbitration with another star, Ryan Howard, last year, and wanted to avoid a repeat. Howard beat the team that time, winning $10 million.

 
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