UPDATE: Dodgers finalize contract extension with Chad Billingsley

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UPDATE: The deal is done. And as expected, he’ll receive three years and an option for 2015.

According to Dylan Hernandez of the Los Angeles Times, Billingsley will be guaranteed at least $35 million from 2012-2014. If the Dodgers exercise the option for 2015, he could make as much as $46 million.

Billingsley will earn $9 million in 2012, $11 million in 2013, $12 million in 2014 and either a $14 million club option for 2015 or a $3 million buyout.

Monday, 8:00 PM: According to Jim Peltz of the Los Angeles Times, the Dodgers and Chad Billingsley have reached a tentative agreement on a three-year contract extension valued at more than $30 million.

Details aren’t yet available, but multiple sources tell Tony Jackson of ESPN Los Angeles that the deal will cover 2012-2014 with a possible option for 2015. If true, the contract would buy out his final year of arbitration and his first two years of free agency. Billingsley and the Dodgers avoided arbitration by agreeing to a one-year, $6.275 million contract in January.

Billingsley, 26, is 59-41 with a 3.55 ERA over his first five major league seasons, averaging 8.2 K/9 and 3.9 BB/9. The former 2003 first-round pick went 12-11 with a 3.57 ERA over 31 starts last season.

UPDATE: Dylan Hernandez of the Los Angeles Times reports that the contract is worth $35-36 million, including the buyout of the option year. He adds that the salary for the option year is still being negotiated.

Joe Girardi won’t use Masahiro Tanaka in Game 7

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The Yankees and Astros are set for Game 7 of the American League Championship Series on Saturday, and neither team will hold back as they seek a World Series berth. The Astros are prepared to back starter Charlie Morton with any able-bodied pitcher in their ranks — including Justin Verlander, though A.J. Hinch said it would be a “dream scenario” to get anything more from his ace — while the Yankees are prepared to utilize all but a few of their arms. One pitcher you won’t see? Right-hander Masahiro Tanaka, who last took the hill for the Yankees during their Game 5 shutout on Wednesday.

Tanaka expended 103 pitches over seven scoreless innings in his last start, fending off the Astros with three hits, a walk and eight strikeouts. He hasn’t pitched on fewer than three days of rest all year, and even with a do-or-die scenario facing the Yankees on Saturday night, manager Joe Girardi doesn’t want to compromise his starter’s ability to stay rested and ready for the World Series.

Girardi will also play it safe with fellow right-hander Sonny Gray, who dominated in a five-inning performance in Game 4. All other pitchers should be available and ready to go, though the club is hoping for a lengthy outing from veteran starter CC Sabathia. Sabathia is no stranger to the postseason: over eight separate playoff runs, he touts one championship title and a collective 4.24 ERA in 123 innings. He held the Astros scoreless in his Game 3 start, blanking them over six innings on three hits, four walks and five strikeouts for an eventual 8-1 win.

Even without Tanaka or Gray likely to take the mound for Game 7, the Yankees will enter the series finale with history on their side. Per MLB.com, they have a 4-3 road record in Game 7s and are 6-7 in all 13 Game 7 finales to date. The Astros, on the other hand, dropped their first and only Game 7 clincher back in 2004, when the Cardinals capped the NLCS with a 5-2 win in St. Louis. The teams are scheduled to face off for the first-ever Game 7 at Minute Maid Park on Saturday at 8:00 PM ET.