Padres near extension with Peavy

[AmarilloRed]

Pads near three-year extension with Peavy
Ken Rosenthal
FOXSports.com, Updated 22 minutes ago

The Padres, moving toward a watershed moment in franchise history, have made significant progress toward signing right-hander Jake Peavy to a three-year contract extension.

"We're moving closer," Peavy's agent, Barry Axelrod, told FOXSports.com.

The deal, which would lock up Peavy through 2012, will average between $17 million and $17.5 million per season, according to a major-league source. It also could include a club option for a fourth year.

The commitment to Peavy would be by far the largest in club history, surpassing the four-year, $34 million contract that the Padres awarded Phil Nevin in 2001.

Axelrod declined comment on specific dollar figures, but said that Peavy's average annual value would be lower than that of Carlos Zambrano and Barry Zito.

Zambrano is averaging $18.3 million per season in the five-year, $91.5 million extension that he negotiated with the Cubs last season.

Zito is averaging $18 million per season in the seven-year, $126 million free-agent deal that he signed with the Giants as a free agent last off-season.

Peavy, the unanimous winner of the National League Cy Young award last season, will earn $6.5 million next season. The Padres hold an $11 million option on him for 2009.

A very good move by the Padres.

[ChatterRed]

Great pitcher.

But I never thought I'd see the day where clubs were paying one player $17-$25 million per season. Saw it with A-Rod, but now it's going to become the norm.

The end of baseball as the have's continue to slam the have nots?

[kaldaniels]

Great pitcher.

But I never thought I'd see the day where clubs were paying one player $17-$25 million per season. Saw it with A-Rod, but now it's going to become the norm.

The end of baseball as the have's continue to slam the have nots?

Dude...look at the Pad's payroll last year...less than the Reds...check the numbers before posting something like this. Salarys are outrageous...yes. But this is not a have/have not issue.

[AmarilloRed]

The Padres are still hammering out Jake Peavy's deal. It'll include no-trade protection and a player option for 2013.

[ChatterRed]

Dude...look at the Pad's payroll last year...less than the Reds...check the numbers before posting something like this. Salarys are outrageous...yes. But this is not a have/have not issue.

Dude, although it appears that way because it's the Padres.......I'm referring more to the Yanks and Boston and other money rich teams...........and more in regard to Santana.

The Pads are like the Reds having to sign Harang eventually. You have to sign your #1 starter. Small market teams will definitely pony up for possibly 1 player. But that's about it. You can't have $40-$50 million wrapped up in two players and expect to compete unless you're the Yanks or Red Sox.