Braun, who debuted on May 25, 2007, gained financial security in exchange for putting off free agency for two seasons. Braun likely would've been eligible for arbitration after the 2009 season.
Cole Hamels is likely arbitration-eligible after this season as a "Super Two" player, beginning what would be four potential years of hearings. Teammate Ryan Howard started that process before this season, and was awarded $10 million, a record judgment for a first-year arbitration player.
The risks and rewards regarding locking up players to long-term contracts have been well-documented.
"I don't know why they're locking him up," general manager Pat Gillick said. "[Braun] isn't going anywhere. Eight years is a long time, no matter who it is. It might come out all right. But if the guy goes in the tank, they're sitting on a contract they can't move."
The Brewers, a small-market team, can see the value in securing their best player for the long term. The Rays also recently locked up James Shields (four years guaranteed at $11.25 million, but could be worth $38 million if the team exercises three option years from 2012-14) and Scott Kazmir (three years guaranteed for $28.5 million deal that includes a $13.5 million option for 2012.
Evan Longoria (six years/$17.5 million guaranteed, with options for $30 million in three option years) and Troy Tulowitzki (six years/$31 million, plus a $15 million option for 2014) also took security.
Gillick, who plans to retire after this season, thought these signings were indications to counter the effects of arbitration, with Howard's award possibly setting a new standard. Though they've given Chase Utley a seven-year, $85-million contract before the 2007 season, they seem to be willing to go year-to-year with Howard.
What about Hamels, the team's ace who is beginning his second full season? The lefty was disappointed this spring when the team renewed him for $500,000. Though he graduated from the same Draft class as Kazmir, he's a year behind in terms of service time.
Could the Phillies secure him now? Either way, Hamels can't become a free agent until after the 2012 season.
"At some point, we'll entertain a multiyear contract," Gillick said, without specifying how soon that might be. "We're not afraid to pay. [But] we don't need to talk extension. We've got the guy for another five years [including the rest of '08]. Maybe when I'm not here it might happen. But right now it isn't going to happen."
While Gillick isn't opposed to long-term deals when it comes to star players like Utley, he's leery of doing the same with pitchers. Despite Hamels' talent and worth, he has yet to play a full season in the big leagues.
"I'm not afraid, myself, to go year-to-year on guys," Gillick said.
For now, so might Hamels and Howard.
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