Jim Salisbury of CSNPhilly.com reports that the Phillies are close to signing slugger Ryan Howard to a new five-year, $125 million extension. Howard’s current salary is $19 million and he’s set to make $20 million in 2011 before he becomes a free agent in 2012.

Howard has 16 RBI and three home runs in 18 games this year and showed his commitment to staying in shape by dropping weight in the offseason. He used the same trainer that Derek Jeter did before the shortstop went on to produce a career year in 2009 and the extra agility training has done wonders for Howard’s defense. (He’s not quite J.T. Snow at the one-bagger, but his defense has certainly improved.)

As long as he stays committed to working out in the offseason, the Phillies won’t be burned by this deal. That said, it’s a little perplexing that they didn’t wait to sign him to the extension next year, seeing as how they already have him locked up for the next two seasons. Sluggers’ power numbers have a tendency to drop once they reach their mid 30s and thus, the Phillies could have waited to see how Howard (30) performs this season before committing to him long term.

But again, with Howard’s new approach to offseason conditioning, this should be a deal that works out well for both sides. (Especially Howard, who will sign one of the few $100-plus million deals in baseball.)

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