From the Braves PR Office:
Smoltz, who could have been a free agent after the 2007 season, owns a career record of 195-138 (.586) with 154 saves and a 3.28 ERA. He is one of only two pitchers (Hall-of-Famer Dennis Eckersley is the other) in baseball history to post at least 150 wins and 150 saves in his career.
"This is a significant contract, both for the Braves and for John Smoltz," said Braves Executive Vice President and General Manager John Schuerholz. "We are delighted that John will be a Brave for at least next season and hopefully well beyond that. Through an amazing stretch of success, John has been a huge part of our club, both with his pitching and his leadership. He will be a first-ballot Hall of Famer."
"Words can't describe how thrilled I am to have the opportunity to finish my career as an Atlanta Brave," said Smoltz, who turns 40 on May 15. "I am thankful to the Braves organization for giving me the chance to play this long and to play out my entire career with one team."
Braves Manager Bobby Cox added, "This is great news because John is such an important part of our ballclub. He has been a dominating pitcher and leader in this league for years and is probably pitching as good right now as he ever has."
The best news you can get on an off-day.