At the start of 2010, the Philadelphia Phillies rewarded Joe Blanton with a three year $24 million extension. This contract moved Blanton from $3 million per year to one of $8 million a year. Prior to this he had pitched 6 seasons with 2 teams. In his one and half seasons with the Phillies his lowest ERA was 4.05.
The Phillies thought those two seasons merited his 267% increase in compensation. What happened was an 9 win season followed by 11 total wins in the next two years. His ERA for those years was 4.82, 5.01, and 4.71. In three seasons, he won 20 games with a poor ERA. He played 6 more seasons with 6 teams. Nobody ever paid him $10 million again.
In 2010, the Phillies stepped up with a SwingBadder contract.