The Minnesota Twins have signed Joe Mauer to an eight year extension worth big bucks meaning Mr. Mauer will be a rich man for a long time. The Twins' fans get to keep their home town guy and the face of the franchise. All of this is great for baseball as it wasn't long ago that the Twins were speculated about concerning contraction. The signing should also stifle a little bit of the talks about the inequality in the majors for at least a little while.
Of course, the Twins are taking a huge gamble signing a catcher for that long a period of time. The contract will take Mauer into his late thirties and that's a huge risk. It also means that for a significant amount of time, the Twins will have a large portion of their budget tied up in one guy.
But for now, the signing is wonderful news for people in Minnesota and for those that like to see franchise players continue playing for their original franchise.