The Phillies go big with Hamels. Is it too big?

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The Phillies deal with Cole Hamels is big. Really big. Like, the second largest contract to a pitcher in baseball history big. $144 million guaranteed, $161 million with a vesting option, the details of which are not known.

But here’s the question: can the Phillies really pull this off?

And by “this,” I mean the vast payroll outlays they have on the books.  As of now, the Phillies owe $133 million in 2013 to only nine players. Add to that a $5 million option owned to Carlos Ruiz that they’ll certainly pick up.  I would assume at this point that Hunter Pence will be dealt for payroll reasons, but if he isn’t and they want him around, he’s going to cost eight figures next year too.  That’s a lot of money for less than half of an aging roster.

But is it too much?  Maybe based on what we’re used to with baseball economics it is.  But as we’ve noted several times recently, we’re in a new era now thanks to the skyrocketing value of local TV deals.  The sort of which allowed the Angels to pay Albert Pujols what they paid him, with the difference being totally made up by the increase in their annual take from Fox.  An increase, thanks in part, to the star power that they can put on TV each night.

So, you’re the Phillies: you’re filling the house every night and, in three years, you can expect to get a windfall in local TV bucks.  If you don’t pay Cole Hamels that money and keep the team on perpetual win-now footing, are you able to reap that money?  If you do reap it, is Cole Hamels’ deal all that bad?

As is always the case, it depends on the cast surrounding him.  Is Roy Halladay beginning a decline? Is Chase Utley on his last leg? Is Ryan Howard going to level off and come close to justifying that deal?  Where is the rest of the offense going to come from?

Those are the big questions about the Phillies’ prospects going forward. The same questions they’ve always had.  The money owed to Cole Hamels, in some sense then, is not the biggest concern. Assuming he doesn’t go full-blown Zito on them, the investment in Hamels seems like the smallest risk they have.

Orioles acquire Jeremy Hellickson from Phillies

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In their second trade on Friday, the Phillies dealt right-hander Jeremy Hellickson to the Orioles for outfielder Hyun Soo Kim, minor league lefty Garrett Cleavinger and international signing bonus slots. The Orioles will also receive cash considerations from the Phillies.

Hellickson will bolster a pitching staff that, while not well-positioned to contend for a division title, still stands a slim chance of reaching the postseason this year. The Orioles have not yet revealed where he’ll land in the rotation, though MLB.com’s Brittany Ghiroli speculates that the right-hander could supplant either Chris Tillman or Ubaldo Jimenez.

The 30-year-old righty went 6-5 in 20 starts with the Phillies, racking up a 4.75 ERA, 2.4 BB/9 and 5.2 SO/9 through 112 1/3 innings in 2017. It’s a bit of a comedown from his performance in 2016, during which he maintained a sub-4.00 ERA for the first time since 2012. While Hellickson’s numbers haven’t been outstanding, he’s been relatively healthy and hasn’t sustained anything more serious than a mild knee sprain and back tightness over the last year. His presence should bring some consistency to an ailing Orioles rotation that currently ranks third-worst in the league with a cumulative 5.90 ERA and 2.2 fWAR.

The Phillies will receive some outfield depth in 29-year-old left fielder Hyun Soo Kim, who carries an underwhelming .232/.305/.288 batting line with five extra bases and 10 RBI through his first 142 PA in 2017. He made just 33 starts in left field this season and could step into a similarly limited role in Philadelphia’s outfield after the club traded Howie Kendrick to the Nationals on Friday.

Cleavinger, 23, has seen mixed results in his first Double-A stint this season. The left-hander dragged a 6.28 ERA, 5.4 BB/9 and 9.8 SO/9 through 38 2/3 innings with Double-A Bowie and has struggled to improve both his control and velocity during three seasons in the Orioles’ farm system.

Although the deal netted Baltimore some much-needed pitching depth, they still have a long way to go before they can give the AL’s top teams a run for their money. Per FOX Sports’ Ken Rosenthal, it doesn’t look like they’re done adding at the deadline just yet:

Mets acquire AJ Ramos from Marlins

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The Mets acquired closer AJ Ramos from the Marlins, the team reported Friday. The Marlins will receive two prospects in the deal, right-hander Merandy Gonzalez and outfielder Ricardo Cespedes.

The trade comes as some surprise given the Mets’ current status as non-contenders in the NL East, though MLB.com’s Anthony DiComo points out that they could position themselves for the division title again in 2018. They also have a proven closer in right-hander Addison Reed and will presumably continue to field offers for him before he hits free agency following the 2017 season.

Ramos, 30, is coming off of his first All-Star campaign with the Marlins in 2016. He racked up 20 saves in 40 appearances and compiled a 3.63 ERA, 5.0 BB/9 and 10.7 SO/9 over 39 2/3 innings in 2017. He’s due $6.55 million this season and will remain under team control through 2019.

The Marlins, meanwhile, will receive the Mets’ No. 9 and No. 22 prospects. Gonzalez, 21, began the season in rookie ball and advanced to High-A St. Lucie in June, pitching to a cumulative 1.78 ERA, 1.7 BB/9 and 8.4 SO/9 through 106 innings. He was ranked No. 5 among the Mets’ pitching prospects and No. 9 in their system, and has found some success in the lowest rungs of New York’s farm system despite some command issues and trouble defining his breaking balls.

Cespedes, 19, progressed to Short-Season A Brooklyn in 2017 after several stints in rookie ball. In 81 PA with Brooklyn, the center fielder slashed .240/.278/.280 with a double and 12 RBI before getting sidelined with an undisclosed injury.