Cliff Lee Returns To Phillies, Officially Introduced By Team On Wednesday

Thanks to NBC Philadelphia, you can watch the opening statement of Wednesday’s Cliff Lee press conference, when the Philadelphia Phillies officially introduced their new pitcher, whom they signed to a five-year deal earlier this week.

Lee admits that “it’s been a whirlwind couple of years for me” and that “this offseason’s been full of unknowns.” One unknown was wether or not Lee and fellow free agent Jayson Werth would be playing together again. According to Lee, they were talking this winter, possibly with intentions of signing with the same team: “When [Werth] found out I was coming [to Philadelphia], he wasn’t the happiest person in the world is all I’ll say.”

Cliff Lee put on the pinstripes of the Philadelphia Phillies (again) on Wednesday as the team officially welcomed back the pitcher with a press conference.

Lee, who earlier this week signed a five-year contract worth at least $120, donned his new No. 33 jersey while being introduced by Phillies’ GM Ruben Amaro. (Roy Halladay wears Lee’s normal No. 34, so Lee opted for the same number he had while with the Texas Rangers.)

For more on the press conference and signing, head to SB Nation’s The Good Phight.

All right, so Cliff Lee has signed with the Phillies. He’s signed a contract worth at least $120 million over five years, and as much as $135 million over six. That’s the news that’s shaken up the entire baseball world over the past 16 hours.

But you’ll notice that the contract isn’t yet official. And that’s because Lee still has to undergo the standard physical examination to make sure nothing’s wrong with his body. And while there’s no reason to believe there’s anything wrong with his body, the Phillies are currently scheduled to make sure Wednesday morning.

Rangers CEO Chuck Greenberg and general manager Jon Daniels told the media that, before Lee made his decision, he and his agent proposed a seven-year contract that could’ve brought Lee back to Texas. While financial details aren’t known, the Rangers say they were uncomfortable with the length, as they didn’t want to guarantee a 32-year-old pitcher a seven-year deal.

Had the Rangers okayed it, the story now would be far different. Instead, they declined, and Lee’s returning to another former team of his instead.

We already knew that Cliff Lee signed with the Phillies. That’s why you’re reading this stream in the first place. But what’s new is that we now have a more complete picture of his contract, as more details have continued to emerge.

As noted previously, Lee’s deal is worth at least $120 million over five years, and could be worth as much as $135 million over six years. The final figure hinges on a $27.5 million vesting 2016 option with a $12.5 million buyout. And, that vesting option? Jon Heyman has word.

Late Monday night, the Phillies signed Cliff Lee to a five-year deal, shocking the baseball world. And while we have to wait until April to see how this move works out for Philadelphia (spoiler: it’s probably a pretty good move), we can already see its effect in Las Vegas.

According to Bodog, the Phillies are now 7/2 favorites to win the 2011 World Series, followed closely by the Boston Red Sox, the offseason’s other big winner, at 5/1.

The Philadelphia Phillies have signed Cliff Lee to a five-year deal, giving them one of baseball’s best starting rotations (though the San Francisco Giants may have something to say). It also reunites the Phils with Lee, almost one year to the day (Dec. 15, 2009) that they traded the pitcher to the Seattle Mariners for J. C. Ramírez, Phillippe Aumont and Tyson Gillies.

Lee originally came to Philadelphia in 2009 -- again, via a trade -- when the Cleveland Indians shipped him off at the deadline. In his first ever start with the Phillies, Lee thew a compete game in a 5-1 victory (and took a no-hitter into the sixth inning). In his first five starts he allowed just three earned runs in 40 innings pitched.

As Philadelphia wakes up Tuesday morning to the news that the Phillies have signed Cliff Lee to a five year deal, we can except a certain level of “OHMYGOD!”

After all, the Phillies will boast a rotation in 2011 that includes Lee, Roy Oswalt, Roy Halladay and Cole Hamels; put another away: the MLB leader in WAR, the NL WHIP leader, the 2010 NL Cy Young Award winner and the best lefty ERA in the second half of 2010, respectively. It doesn’t matter too much who the fifth starter (especially when/if the Phillies get in the postseason), but it will likely not be Joe Blanton.

So Cliff Lee has signed with the Phillies, and the entire baseball world has gone insane - not only because Cliff Lee signed with the Phillies out of nowhere, but because Cliff Lee signed with the Phillies out of nowhere at midnight ET.

Earlier Monday night, it was reported that Lee’s five-year contract with the Phillies is worth about $100 million. Now we have some more accurate details, and we can compare between the offers laid out by the Rangers, Yankees, and Phillies.

In a breathtakingly stunning turn of events, Cliff Lee has signed with the Phillies, turning down both the Rangers and the Yankees. Immediately, once news of the signing broke, it was figured that Lee was leaving a lot of money on the table to return to Philadelphia. How much money? Now that we have some details, we can start to figure it out.

According to Joel Sherman, Lee’s five-year contract with the Phillies is worth somewhere around $100 million. Additionally, via Jerry Crasnick, we find out that there’s a sixth-year vesting option that should be “easily reachable”. Lee, clearly, is getting a mammoth contract. But it’s not quite the $154 million over seven years he stood to get from the Yankees, so he’s still making a considerable sacrifice.

Monday night, we have word of a resolution to the Cliff Lee sweepstakes. And after so many months of assumptions that Lee would either re-sign with the Rangers or go to the Yankees, the 32-year-old free agent ace southpaw is instead signing with the Phillies, who emerged as a late contender.

T.R. Sullivan was the first with the news, and it has since been confirmed by Jon Heyman and Joel Sherman. The Rangers and Yankees now have to look for alternatives elsewhere. The Rangers could turn to Matt Garza or Zack Greinke, while the Yankees may simply focus on addressing their bench and their bullpen.

Just when it looked like the Cliff Lee sweepstakes were nearing a resolution, a wrench has been thrown into the mix - the Phillies have emerged as a Lee contender. A resolution is still close, but the issue now is far more complicated than it was when we all figured it would come down to Texas or New York.

Ever since the initial report came out naming the Phillies as the mystery team in the Lee negotiations, public statements from baseball people have taken them more and more seriously. Jack Curry notes a belief that Lee will return to Philadelphia. Jon Heyman pegs the Phillies as a “strong candidate”. Even though the Phillies can’t offer a contract that matches up with those offered by the Yankees and Rangers, Lee so enjoyed his time in Philadelphia that they’re being given a chance.

The Cliff Lee negotiations are approaching the end, and the teams involved - and all the rest of us - are awaiting a resolution. The Rangers have made their best offer, the Yankees have made their best offer, and while there have been whispers that a mystery team was involved, by and large that team was written off, and it was assumed that Lee would pick between Texas and New York.

Only, not so fast. According to Ken Rosenthal, that mystery team can’t be written off quite yet, as that mystery team is none other than the Philadelphia Phillies.

The whole world right now is waiting on Cliff Lee to pick his destination. Some want him to pick Texas, some want him to pick New York, and everyone wants him to make his pick soon.

On this Monday morning, there are some possible indications that Lee is looking to New York. For one thing, according to Buster Olney, Lee’s agent Darek Braunecker has been in contact with the Yankees today. For another - also from Olney - the Rangers may be moving quickly on Adrian Beltre as a fallback plan. It isn’t much to go on, but it’s something.

Right now, the entire baseball world is waiting on Cliff Lee to make his decision. The Rangers have offered Lee a bunch of different deals, with one reportedly being for six years with a seventh-year option. The Yankees, meanwhile, offered Lee a seven-year contract worth something in the neighborhood of $160 million. It seems to be only a matter of time now before baseball’s best lefty settles on a destination.

Lest one believe that the sweepstakes may only intensify still, that doesn’t appear to be a possibility. The Rangers have maxed themselves out, going as high as they’re willing to go, and Yankees general manager Brian Cashman told the New York Post that he will not increase his offer. What Lee sees now is the most he’s ever going to see, which should make the decision-making process a little less complicated.

The Cliff Lee negotiations are thought to be winding down, as the Yankees have made Lee a seven-year offer, while on Thursday the Rangers made Lee a “menu” of offers. The decision now rests in Lee’s hands, as it’s believed that both New York and Texas have gone as high as they’re willing to go.

That the Yankees went to seven years - at a high price - seems to put them well in the lead. And indeed, that’s the consensus opinion around baseball. However, in a report from Jon Heyman, word’s out that one of the Rangers’ offers to Lee could be a guaranteed six-year contract with a seventh-year option, which would at least put them in the same neighborhood as New York. While the Yankees have offered Lee one more guaranteed year with more guaranteed money, the difference between the two is not so great that it’s impossible to see Lee returning to Texas.

There’s been no word on Lee’s reaction to what he saw on the menu. Nor do we know what may have been a part of the menu, or how many options it included. Greenberg did not reveal any financials. The popular speculation is that the Rangers are willing to offer six years, but not seven, though there’s no word on that either. I’m sorry to have so little to share.

On Thursday, representatives for the Texas Rangers will fly to Arkansas to meet Cliff Lee at his home and talk about his free agency. Hot in pursuit, the Yankees are rumored to have offered Lee a seven-year contract, and at this point the Rangers are just trying to keep up. And according to T.R. Sullivan, the Rangers expect to find out whether they can sign Lee back by Thursday night.

Lee and agent Darek Braunecker will meet with Rangers CEO Chuck Greenberg and assistant general manager Thad Levine. It has been reported that the Rangers have increased their offer to Lee from five years to six, but are extremely reluctant to go as long as seven. For that reason, the Yankees are considered the heavy favorites to end up with the lefty ace, who could prefer the Yankees’ larger contract over the Rangers’ proximity to his family and home.

Wednesday afternoon, Cliff Lee’s agent Darek Braunecker left the Winter Meetings, but not before the Yankees offered Lee a “monster” contract. Then, Wednesday night, the Yankees lost their Plan B when Carl Crawford signed with the Red Sox. So, in response, the Yankees upped their offer to Lee to seven years.

The Yankees’ seven-year offer, for what it’s worth, does not have the same annual value as the six-year offer they made first. It’s believed that the “monster” contract was for six years and $140 million. This new contract is probably for seven years and around $150-160 million. But that extra year is important to Lee, and the offer has spurred the Rangers into action.

The Cliff Lee negotiations are speeding up now. On Wednesday, we learned that the Yankees made their first contract offer. Lee and agent Darek Braunecker left the Winter Meetings soon thereafter, suggesting that no deal was imminent, but now we have word on Thursday that the Yankees have extended their offer to seven years.

It’s a huge step. Lee reportedly already had seven-year offers on the table, but not from either New York or Texas, who have been reluctant to even go to six. The Yankees, though, have stepped up their game after Plan B free agent Carl Crawford signed with the Red Sox. At this point, the Yankees have to get Lee, because their fallback options aren’t very good. They can’t sign Crawford. They can’t sign Werth. They won’t want Carl Pavano. Zack Greinke won’t want to pitch in New York. Tampa Bay won’t want to trade Matt Garza within the division. Signing Lee becomes almost necessary, and so going to seven years, in turn, because necessary as well.

On Wednesday, Cliff Lee received his first contract offer from the Yankees. The offer is thought to be six years long and worth between $137-150 million - a very substantial offer that may win Lee’s services outright.

Lee’s agent Darek Braunecker then left the Winter Meetings, suggesting that no agreement was upcoming, but now, according to Ken Rosenthal, a decision is coming soon. How soon? As Rosenthal writes, Lee is set to make his decision by the end of the weekend.

Just in case you needed more proof that Cliff Lee isn’t about to sign a contract, consider this - Lee’s agent, Darek Braunecker, has left the Winter Meetings.

Braunecker may return before the meetings end on Thursday, but he wouldn’t have left if anything were imminent. The act of leaving conveys little sense of urgency.

The Cliff Lee negotiations have been both interesting and slow to progress. He’s reportedly received a pair of seven-year contract offers from a couple of mystery teams, while the Yankees have grown frustrated with the deliberate pace of it all.

That second part is about to change, however. The Yankees have lately been drawing up their first contract offer for Lee, and according to Jon Heyman, it’s going to be a monster.