Reports: M’s, Felix Hernandez agree to five year deal

Update (10:20am): Buster Olney says five years, $80M, or basically A.J. Burnett/John Lackey money.

9:30am: Via Keith Law, the Mariners and ace Felix Hernandez have agreed on a multi-year contract extension that is going to buy out at least the righty’s two remaining years of arbitration eligibility. Jason Churchill hears that the deal could be as long as six years with less than $100M guaranteed, but incentives that could push it up in nine-figure territory.

Many Yankee fans, myself included, were already fitting King Felix for pinstripes even though he wouldn’t have hit free agency for another two years. The Mariners are by no means a small market team, so it was just a matter of whether or not Felix was receptive to signing long-term in lieu of cashing in on the open market. The kid doesn’t turn 24 until April, and if someone offers you nine figures at that age, you take it and set yourself and your kids and your kid’s kids up for life.

If the deal is in fact for six years, he’ll still just be 29 when it expires, which is crazy. Also, he’ll hit free agency just as CC Sabathia’s contract expires, which is rather convienent.