10:12am: Ken Mandel of MLB.com reports the extension is for 3-years, $37.5MM with a club option for 2012 and performance incentives. A good deal for both sides considering the going rate for elite closers and that Lidge may have been able to get 4-5 years in free agency. Lidge has yet to blow a save this year while making $6.35MM.
10:00am: Todd Zolecki and Jim Salisbury of the Philadelphia Inquirer are reporting the Phillies will be announcing a contract extension for closer Brad Lidge any moment now.
