From Scott Lauber and The News Journal:
This just in: The Phillies have signed Chase Utley to a seven-year, $85 million contract extension that runs through the 2013 season.
In essence, the deal buys away Utley's three arbitration years, plus four years of free agency, which figure to be his prime seasons of production. When the contract expires, the All-Star second baseman will be 35. Usually, Phillies GM Pat Gillick isn't a fan of such long-term contracts. But assistant GM Ruben Amaro Jr. said the Phillies were comfortable with this deal because they consider Utley to be "one of the top 10-15 players in the game."
Whoa.
Just a few days ago, the Phillies and the Utley camp were exchanging arbitration figures ranging from $4.5 million to $6.5 million for the 2007 season. As it turns out, those discussions hardly qualify as sparring.
On Saturday, Utley exchanged wedding vows. Life is good for Mr. and Mrs. Utley.
The deal averages out to around $12 million a season and at this early stage looks like a win-win for both sides. Utley gets significantly more money up front than he would have received in arbitration plus long-term job security, while the Phillies probably save money in the long-term as Utley will in all likelihood be worth much more than $12 million down the road (if he isn't already).
The cynical phan will point to Pat Burrell as reasons to avoid long-term deals, but by all accounts, comparing Utley to Burrell is apples to oranges. Count yours truly among those that want to see Utley retire in red pinstripes and his number 26 hanging on the walls of Citizens Bank Park in ten to fifteen years. [By the way, the early reports make no mention of a no-trade clause.]
On deck, Ryan Howard.
