The Phillies signed Joe Blanton to a three-year, $24MM extension, according to a team press release. The deal buys out Blanton's last arbitration year and two free agent seasons. AOL FanHouse's Ed Price tweets the details: $7MM in '10 and $8.5MM in '11 and '12. Another $500K can be earned with innings incentives. The price is reasonable, given the recent contracts signed by Jason Marquis and Joel Pineiro.
Blanton, 29, has seen an uptick in his strikeout rate since joining the Phillies in July of '08. Last year he posted a 7.5 K/9, 2.7 BB/9, and 4.05 ERA in 195.3 innings.