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It depends. Look at your organization, free agents, and other players around the league you might be willing to trade for first. If it makes more sense to retain a player who's past team control, and his greed is reasonable, then it might make sense to wrap him up early. It makes more sense to try to sign him when he's not on a hot streak or having a tremendous year, but be careful, since some pretty outrageous demands might develop if you time your negotiations poorly.
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