Phillies finalize deal with Lee

Sports Network

, Last Updated: 1:37 PM ET

PHILADELPHIA - The Philadelphia Phillies made it official on Wednesday, signing pitcher Cliff Lee to a five-year, $120 million contract with a vesting option for 2016.

The team has scheduled a 3 p.m. (et) press conference to introduce its prized free-agent signee. It won't be the first time the 32-year-old left-hander greets the media assemblage, as he was acquired by the Phillies prior to the trade deadline during the 2009 campaign.

After helping Philadelphia reach the World Series for a second consecutive season, Lee was traded to Seattle for prospects last December, then dealt to the Rangers in July.

He pitched in another Fall Classic, losing again, however, when Texas was defeated by the San Francisco Giants.

Lee joins a rotation that already boasts Roy Halladay, the 2010 NL Cy Young Award winner, Roy Oswalt and Cole Hamels, a former World Series MVP.

Lee went a combined 12-9 with a 3.18 earned run average in 28 starts with Seattle and Texas last season. He also finished with a career-best seven complete games.

The Phillies acquired him from Cleveland on July 29, 2009, and he went 7-4 with a 3.39 ERA and three complete games in the last three months of the regular season.

Lee was the winning pitcher in both of Philadelphia's victories in a six-game loss to the Yankees in the 2009 World Series.

The 2008 AL Cy Young Award winner, he has a 102-61 record with a 3.85 ERA in 222 games -- all but four of which have been starts -- for his career.


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