Derrek Lee received his security today, signing a new five-year, $65 millions dollar deal with the Cubs that overrides his old contract. He'll be a Cub through 2010 the sides agreed on a no-trade clause as well.

"Derrek Lee has become one of the upper echelon players in the game," said general manager Jim Hendry, who got Lee in a trade with the Florida Marlins. "It's a well-deserved contract, as stated by the parties all along. He's certainly made no secret of the fact that he wanted to be a Cub for a long time and we certainly wanted to accommodate him. He's a special player."

It's a good deal for the Cubs. They appear to be paying for his career norms instead of the outlier 2005 season. If that season ends up representing a new level of performance for Lee, then the Cubs made a great deal. I assume the no-trade clause is included for that reason; if Lee does continue as a 1.000 OPS player, he'd be easy to trade at $13 million a year.