Well, it all depends on whether he thinks that extension is out there...and I am not positive it is. I personally think the C's are not going to be interested in giving him a huge extension. If he is willing to take 3/$45 million, sure...but I don't know if that is what he has in mind.
And I am also not positive there will be that money on the open market either.
It may happen, but I certainly don't think its a given. Of course, i also thought there was no way Sheed would walk away from all that money this summer, so what do I know?