Philadelphia Phillies pitcher Cole Hamels will soon be off the trade market and the impending free-agent list once he signs a six-year contract extension in excess of $137.5 million with the club, according to Fox Sports' Ken Rosenthal. The contract will make him the second-highest-paid pitcher, behind only the New York Yankees' CC Sabathia.

In recent weeks, it became a real possibility that the Phillies would re-sign the 28-year-old southpaw -- despite much trade speculation. The Texas Rangers had reportedly been pursuing Hamels, but reports of Philadelphia seriously negotiating a new deal emerged at the same time. This new contract, once it is signed, will be worth over $10 million more than the deal Matt Cain signed with the San Francisco Giants at the start of the 2012 season.

Hamels is 11-4 with a 3.23 ERA and 131 strikeouts in 19 starts this season.

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