The Phillies and pitcher Cole Hamels have reached agreement on the second-richest contract ever given to a starter, according to multiple reports.
The deal is a six-year pact worth $144 million, according to Jon Heyman of CBSSports.com.
The contract would be second only to the seven-year, $161 million contract that the New York Yankees gave to CC Sabathia in 2008.
FoxSports.com's Ken Rosenthal was first to report the contract agreement late Tuesday night.
The deal ends rampant trade speculation that has surrounded Hamels in recent weeks as the Phillies have faded in the National League playoff race.
The team is expected to hold a press conference later today to officially announce the agreement with Hamels.