UPDATE - The Mariners and Hernandez have reached an agreement on the contract extension, GM Jack Zduriencik tells Greg Johns of MLB.com.
#Mariners have reached agreement on contract extensin with Felix Hernandez, according to Jack Zduriencik.— Greg Johns (@GregJohnsMLB) February 12, 2013
ORGINAL - Right-hander Felix Hernandez has agreed to a seven-year, $175 million contract extension with the Seattle Mariners, according to Bob Nightengale of USA Today.
Nightengale adds that the extension should be finalized before spring training. The deal will make Hernandez the highest-paid pitcher in baseball history.
Hernandez has spent eight seasons with the Mariners after debuting for the club as a 19-year-old in 2005. He's maintained a 3.22 ERA with a 3.1 strikeout-to-walk ratio, averaging more than 30 starts and 200 innings pitched per season since 2006. Hernandez won the American League Cy Young Award in 2010 and is a three-time All-Star.
Hernandez's new contract would surpass the seven-year, $161 million deal C.C. Sabathia signed with the New York Yankees before the 2010 season as the richest contract ever for a pitcher. The average annual value of $25 million tops the $24.5 million Zack Greinke is receiving from the Los Angeles Dodgers.
Hernandez signed a five-year, $78 million extension with the Mariners in January of 2010. This was set to pay him $19.5 and $20 million in 2013 and 2014. Hernandez will still only be 33 years old when this new deal expires.