Baseball - Utley Signs A Seven Year Extension With 

A day after his wedding, Chase Utley, the All Star second baseman signed a seven year extension with the Phillies. He signed a $85 million contract extension that will keep him with the Phillies through 2013. The details of the deal were not announced by it is known that the deal averages $12.14 million each season.

It is a known fact that the Phillies general manager Pat Gillick does not like to offer players long term contracts that include no trade clauses. However, this time an exception was done and Utley received a limited no trade provision.
Gillick said that the Phillies thought it was a fair contract for both, Utley and Phillies and he considered it to be a win-win situation. He further stated that the Phillies were indeed fortunate to have a player like Utley and they made an exception to the rule by offering him a long term contract.
Assistant general manager Ruben Amaro Jr said that the Phillies regard Utley as an elite player in baseball.
The contract has ensured that there would be no possibility of arbitration when both parties exchange figures and either meet somewhere in the middle or have a salary determined by an independent arbitrator. Just a week before signing the deal, Utley had submitted an amount of $6.25 million while he was offered $4.5 million by Phillies. This gap was suppose to be the third largest gap between a player and team.
A Major League source said that Utley received a signing bonus of $2 million and will receive $4.5 million in 2007, $7.5 million in 2008, $11 million in 2009 and $15 million for the remaining four seasons of the contract. In 2006, Utley earned $500,000.
With this agreement, Phillies have bought out Utley’s 3 arbitration years and delay the possibility of free agency for another 4 years. If Utley had not signed the contract, he would have been a free agent in 2009. Utley will be 35 when his contract comes to an end.