David O'Brien of the Atlanta Journal-Constitution is reporting that "Someone here at the meetings who would probably know, told me the Braves have at least discussed trying to sign [Javier] Vazquez to a contract extension."
Vazquez was quietly an elite pitcher for Atlanta in 2009, posting a 2.87 ERA in 219 1/3 innings, striking out 238 and walking just 44. He's signed to an $11.5MM deal for 2010, after which he will be a free agent.
There has been speculation that Atlanta will deal Vazquez, since with the return of Tim Hudson, they appear to have six starting pitchers for five spots. Meanwhile, a deal for the underachieving Derek Lowe, who was far worse than Vazquez and has $45MM left on his contract, would presumably yield far less than Vazquez.