UPDATE (2:42 p.m.): David Murphy reports the terms of the deal:
$15 million in 2009, $19 million in 2010 and $20 million in his walk year of 2011.
Perhaps the most interesting part of the contract is a clause that would require the Phillies to pay Howard $1 million if he is traded before Nov. 1, 2010. (Editor’s note: That’s chump change, less than most option buyouts.)
Howard’s base salary would increase by $1 million in 2010 and 2011 if he was named MVP in the preceding season. In 2011, an MVP would bring him a $1 million bonus. Bonuses are also included for World Series MVP ($100,000), LCS MVP ($50,000), Gold Glove ($50,000), $100,000 for Silver Slugger, and $50,000 for an All-Star selection.
The Phillies signed Ryan Howard to a three-year, $54 million deal.
It averages to $18M per season, which is what Howard wanted. It takes Howard through arbitration, making him a free agent in 2012, which was originally planned.