According to Andy Call of the Canton Repository, it appears that Grady Sizemore will be the next core player to sign a long-term deal:
If Sizemore is indeed signed, he will be the fifth player signed to a long-term deal within the past two seasons. Last year, the team extended CC Sabathia, Travis Hafner, and Victor Martinez. Earlier this spring, the club inked Jhonny Peralta through his arbitration years. Sabathia's contract bought out two years of free agency, while the other three's deals potentially buy out one year.
Sizemore is the closest thing the team has to a true star, a player with exceptional on-the-field and off-the-field appeal. He's just 23 years old, and his offensive upside is as great as anyone currently on the roster.
UPDATE: It's official: Six years for a guaranteed $23.45 million, plus an $8 million option for a seventh year (2012). Sizemore's contract sets a new major league record for players with less than two years of major league service time, shattering the prior record set by Victor Martinez a year ago at $15.5 million. Sizemore's contract is in fact one of the largest ever given to any player by the Indians, a team that has guaranteed over $28 million to a player only twice in its history. [Jay]
UPDATE: Here's the year-by-year salary data, along with Peralta and Martinez's contracts for comparison. The first number is the signing bonus, the last two are the option year and buyout amounts. Martinez's contract starts in 2004, while the other two start in 2005. [Jay]
Grady: 1.00, 0.50, 0.75, 3.00, 4.60, 5.60, 7.50, 8.50/0.50
Jhonny: 1.25, 0.50, 0.75, 2.25, 3.40, 4.60, 7.00/0.25
Victor: 1.00, 0.50, 0.80, 3.00, 4.25, 5.70, 7.00/0.25