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Phillies, Ryan Howard ink five-year extension through 2016

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Jim Salisbury of CSNPhilly.com reports that the Philadelphia Phillies are about to extend first baseman and 2006 National League Most Valuable Player Ryan Howard through the 2016 season, with a deal reported to be worth $125 million.

Even though Howard has lost a ton of weight and is looking much better in the field, committing that much money to a large-bodied first baseman seems like a risky proposition.

Edit: done, per Murphy. Five years, $125 million, with an option year that would raise it to six years, $138 million. I hope he remembers how to draw walks.

Edit #2: the excellent Cot's Baseball Contracts has the financial breakdown.

12: $20M, 13: $20M, 14: $25M, 15: $25M, 16:$25M, 17:$23M club option ($10M buyout)

More in-depth analysis will follow -- both here, and elsewhere around the interwebs -- but I'll leave you with this nugget for now: only once in Howard's career, according to Fangraphs' WAR metric, has he been worth more than the $25 million AAV (average annual value) that this deal will pay him: his MVP season back in 2006.