Report: Phillies Planning To Offer Hamels $120 Million

Oh boy.

According to CBS Sports' Jon Heyman, the Phillies are plannin to offer lefthander Cole Hamels a five-year, $120MM deal. The very same deal that they signed Cliff Lee with back in December of 2010. 

An offer of $120 million over five years, which was the very deal Cliff Lee signed with the Phillies, was said by one person with Phillies ties to be their logical offer, though two management people on other teams said they believed they may have to go to something closer to Johan Santana's $137.5-million, six-year deal, or even more, to have a realistic chance at a quick deal.

Agent sources have suggested since spring Hamels could get upwards of $150 million, or more, as a free agent.

Although Cliff Lee got the same deal, he has not shown his worth this season. At 1-6 with a 3.92 ERA, Lee has not been what doing what the Phillies are paying him to do. Hamels is 11-4 with a 3.07 ERA on the year so far and has shown how much of an elite pitcher he has become. 

The Phillies are going over San Francisco Giants pitcher Matt Cain's five-year deal worth $112.5-million. Although both pitchers are alike, Hamels is a lefthander and has no record of serious injuries as well as owning a better winning percentage. 

If the Phillies do offer $120MM to Hamels, it's not a guarantee that he will agree. Johan Santana of the New York Mets is making close to $23MM a year with his deal and he has been injury ridden his whole career. 

Hamels is a free-agent at the end of the year and if he won't take $120MM now that means he won't take $120MM in the winter. Heyman's sources have indicated that Hamels could get a deal worth atleast $150MM. 

Follow Erik on Twitter @ErikSeyboldPHI.