Cole Hamels, Phillies Nearing 6-Year, $137.5 Million Contract Extension, According To Report

Philadelphia Phillies pitcher Cole Hamels will soon be off the trade market and the impending free-agent list once he signs a six-year contract extension in excess of $137.5 million with the club, according to Fox Sports' Ken Rosenthal. The contract will make him the second-highest-paid pitcher, behind only the New York Yankees' CC Sabathia.

In recent weeks, it became a real possibility that the Phillies would re-sign the 28-year-old southpaw -- despite much trade speculation. The Texas Rangers had reportedly been pursuing Hamels, but reports of Philadelphia seriously negotiating a new deal emerged at the same time. This new contract, once it is signed, will be worth over $10 million more than the deal Matt Cain signed with the San Francisco Giants at the start of the 2012 season.