The Bronx Stop: A Yankees Blog

Kelly Theiser from MLB.com reports:

The Mets and pitcher Johan Santana reportedly received a two-hour extension on Friday's 5 p.m. ET/4 CT deadline to work out a contract that would officially complete the trade of the two-time Cy Young Award winner from the Twins to New York in exchange for four prospects.

Reports were that negotiations between the two sides had been moving slowly, but they were progressing. The sticking point has been the length of the contract as Santana is seeking six years while the Mets appear willing to offer five.

New York's Newsday reported that a person familiar with the situation, on condition of anonymity, said Santana likely will wind up with a six-year extension for an annual average salary of about $23 million a year, on top of the $13.25 million owed to him this season. The deal, which would include a signing bonus, is expected to total a little more than $150 million, making it a record-setting contract for any pitcher.

For the Twins, it's a waiting game to see if the deal will indeed be completed. The club has not commented publicly on the situation, but they have been keeping in close contact with Santana's agent, Peter Greenberg.

Santana will not waive his full no-trade clause unless an extension is reached, and then the entire deal would be voided by the league. That seems an unlikely scenario as Santana would end up right back where he started, still with the Twins.

There is a possibility that the deadline could be extended. Major League Baseball has granted such requests in the past, such as the case when Randy Johnson was traded from Arizona to the Yankees in 2005. But for that to happen, the two sides must show to the league that they are indeed close to reaching agreement on an extension.

As part of the deal agreed upon Tuesday, the Twins would receive outfielder Carlos Gomez and pitchers Phil Humber, Kevin Mulvey and Deolis Guerra in exchange for Santana. The trade agreement was struck after Santana reportedly issued a deadline of his own to the Twins. If the club had not agreed to move Santana by that date, the two-time Cy Young Award winner would have refused to waive his full no-trade clause throughout the '08 season.