Cole Hamels and the Philadlephia Phillies have agreed to a six year, $144 million extension, according to sources. The deal will be made official later today.
Hamels new deal will be the second largest given to a starting pitcher, only CC Sabathia's seven year, $161 million deal trumps Hamels' new contract.
Hamels was assured by the Phillies that by signing the contract he will not be traded at the deadline on Tuesday. Hamels had been involved in some trade rumors in the past few weeks, but now will remain in Philadelphia.
Hamels is 11-4 this season with an ERA of 3.23 and is 85-58 in his seven year career, all with Philadelphia. He also won the 2008 World Series MVP and helping the Phillies clinch their first title since 1980.
The Phillies will more than likely need to make some trades to shed contracts, but will retain one of the best pitchers in the game.