Hamels signs three-year extension

Well, one of the two big fish is out of the way.

Cole Hamels and the Phillies have agreed to a three-year, $20.5 million extension that will pay the lefthander $4.35 million this season, $6.65 million next season and $9.5 million in 2011.

There is also a clause that increases his salary by $500,000 should he win a Cy Young.

The 2008 World Series MVP was one of eight Phillies eligible for arbitration. Combined with last night's signing of Greg Dobbs, six are currently unsigned.

Stay tuned for more.