The Philadelphia Phillies and 2006 NL MVP Ryan Howard have agreed on a 3-year deal worth $54 million.

“I’m happy to have this done and to know that I’ll be in Philadelphia for at least another three years,” Howard said.

According to the new contract, if the Phillies try to trade Howard before November 1st, 2010 they will owe him an additional $1 million but they’re are free to trade with without a penalty after that date.

The team was happy they were able to sit down and work out a deal with Howard; avoiding arbitration hearings.

“We’re very pleased to have avoided the arbitration process, not just for this year, but also for the next two,” Phillies General Manager Ruben Amaro Jr. said. “Ryan is clearly one of the top power hitters and run producers in the major leagues and is a very important part of our championship club.”

Phillies fans can now relax. This is the one guy they definitely did not want to lose.