Year-by-year breakdown of Cole Hamels’ $144 million deal

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Todd Zolecki of MLB.com has the details of Cole Hamels’ six-year, $144 million contract extension with the Phillies, which keeps the 28-year-old left-hander from hitting the open market as a free agent this offseason:

Signing bonus: $6 million
2013: $19.5 million
2014: $22.5 million
2015: $22.5 million
2016: $22.5 million
2017: $22.5 million
2018: $22.5 million
2019: $19 million option or $6 million buyout

There’s a slight twist with that 2019 option in that it vests and becomes a $24 million option if Hamels throws at least 400 innings in 2017-2018, including at least 200 innings in 2018, and isn’t on the disabled list at the end of 2018.

There’s also a bunch of bonuses for awards and All-Star appearances, which Zolecki details further, and the contract includes a limited no-trade clause.

Report: Gerrit Cole has seven-year, $245 million offer from Yankees

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Bob Klapisch of The New York Times reports that free agent starter Gerrit Cole has a seven-year, $245 million contract offer on the table from the Yankees. As Klapisch also notes, the deal would set a record for total value and average annual value for a pitcher, besting Zack Greinke‘s $34.4 million AAV and David Price‘s $217 million total.

While it is possible that Cole signs before the end of the Winter Meetings on Thursday, clients of Scott Boras have tended to sign later in the offseason, so this may be a protracted process with today’s report as a jumping-off point. Both the Yankees’ and Angels’ front offices have received clearance from ownership to break the bank to sign Cole.

Cole, 29, could not have timed having a career year any better. During the regular season, he led all of baseball with 326 strikeouts and led the American League with a 2.50 ERA while also posting a 20-5 record and walking only 48 batters across 212 1/3 innings. He performed brilliantly in the playoffs as well, holding the opposition to seven runs on 21 hits and 11 walks with 47 strikeouts over 36 2/3 innings of work as the Astros narrowly missed out on winning another championship.

Cole is entering his age-29 season, so a deal of at least seven years would take him well into his mid-30’s. Teams, especially lately, have been hesitant to commit to pitchers, but as the Nationals showed with Max Scherzer and Patrick Corbin, sometimes it leads to a championship.

For what it’s worth, Bob Nightengale of USA TODAY Sports says the Yankees haven’t made a formal offer to Cole yet, though the club plans to make one this week. During this time of year, both sides — front office personnel and player agents — leak details to the press to help establish leverage. What we can generally take from this is that the Yankees are hot for Cole and he’s going to get a record-setting contract from some team, even if it’s not the Yankees.