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From my experience no, but signing an extension is very risky considering the money they demand can change over the course of the year depending on their performance, if a player starts out well in the last year I will usually sign them to a cheap 1-2 year extension. If the player is doing bad but it's a for sure bounce back candidate then I sign him to a dirt cheap contract.
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Plays legit baseball now. My OOTP ratings are low.
2022 update: I'm two stars!
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