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Here's the report from ESPN:The Atlanta Braves have reached an agreement on a contract extension with pitcher John Smoltz, ESPN The Magazine's Buster Olney reports.

Quote:

As part of the agreement, Smoltz will receive $14 million in 2008. The deal includes a vesting option for the 2009 season that automatically kicks in if Smoltz pitches in at least 200 innings in 2008. There also is a team option for 2010. Financial details for the 2008 and 2009 seasons are not yet known.

http://sports.espn.go.com/mlb/news/story?id=2850620