Jason Hammel has pitched far better this year than anyone could have expected. At his age and experience level he should be at his peak performance level over the next three to four years. So, what should the Orioles do with him?
His proven ability to pitch in the AL East and the fact that he is under team control through next year would make him a very valuable trade chip. If the Orioles put him on the market before the trade deadline almost every contender would be interested. Do the Orioles trade him for a pile of prospects? Do they hold on to him until this winter and then trade him for one or two less prospects? Do they try to sign him to an extension and, if so, for how long?
The only way I would trade Hammel this season is if I was BLOWN AWAY by the return. If the Tigers offered RHP Jacob Turner and 3B Nick Castellanos along with another prospect or two I would make the trade regardless of how it would affect this season because it would add at least two long term critical pieces of our next playoff team.
If Hammel is still with the team this winter I would make an offer of four years for 50M with a reasonable vesting option for about 18M for a fifth year. If he turns that down I would trade him.
Regardless of how this plays out, what to do with Jason Hammel has become the kind of problem that the Orioles wish they had more of.

