Phils, Pedro agree to one year deal

Pedro Martinez and the Phillies have agreed to terms on a one year contract worth $1 Million with $1.5 million worth on incentives. A press conference is likely to take place on Wednesday before Pedro makes a few minor league starts in preparation to join the big league club. The $1 million contract is less than Martinez was originally seeking, and appears to be a bargain for the Phillies. It did turn into a low risk, high reward situation; as Pedro could have something left in the tank for half of a season after all.