News item: Chicago Cubs pitcher Carlos Zambrano signed a five-year contract extension Friday worth $91.5 million. If he stays through an option year in 2013, the deal could be worth $110.75 million.
My take: Zambrano is 14-9 with a 3.86 ERA and 139 strikeouts for a winning team. Erik Bedard is 12-4 with a 2.98 ERA and a major league-leading 207 strikeouts for a losing team. This is going to get ugly.
News item: Donovan McNabb looked terrific in his first game since suffering a torn knee ligament against the Tennessee Titans last November. The Philadelphia Eagles quarterback threw for 138 yards in four possessions against the Carolina Panthers.
My take: I'm glad to see McNabb is healthy again. He's a class act. I'm sure the great Eagles fans realize that and will wait at least until November to start booing him.
News item: The Ravens host the New York Giants tonight at M&T Bank Stadium in their second preseason game.
My take: Hopefully, they'll untape Troy Smith from the goal post at McDaniel College in time for the game.
News item: Cincinnati Bengals linebacker Odell Thurman and Tampa Bay Buccaneers cornerback Torrie Cox have filed lawsuits under the Americans with Disabilities Act in an effort to overturn their suspensions for violating the NFL's substance abuse policy.
My take: If either one wins his case - and don't hold your breath - the precedent could strip professional sports leagues of the ability to discipline players who are addicted to drugs or alcohol.
News item: Bud Selig announced that Jason Giambi will not be disciplined for his veiled admission to steroid abuse.
My take: Giambi's not really getting off that easy. He had to agree to sign copies of George Mitchell's final steroid report at Barnes & Noble.
News item: Struggling golf sensation Michelle Wie missed another cut Friday, this time at the Canadian Women's Open.
My take: On the brighter side, she can get her sore wrist examined for free up there.
News item: The Washington Nationals acquired Wily Mo Pena from the Boston Red Sox for a player to be named.
My take: I'd be only slightly less excited if they had acquired Wile E. Coyote, but I've always been a huge Road Runner fan.
News item: Alex Rodriguez was given the key to the city by New York Mayor Michael Bloomberg on Thursday to honor him for hitting his 500th career home run.
My take: Well, at least he'll be able to get back in after he bolts New York this winter.
News item: The Milwaukee Brewers sent out their first postseason ticket mailer since 1992 on Wednesday.
My take: I'm getting nostalgic already. I actually covered the Brewers' last playoff series, but they were in the American League and I was wearing Angels Flight slacks.
News item: Suspended Tennessee Titans cornerback Adam "Pacman" Jones will release his first hip-hop single - "Let It Shine" - Aug. 27.
My take: Obviously, "Make It Rain" was already taken.
News item: Freddy Adu made his European debut on Tuesday for Benfica of Portugal in Lisbon.
My take: In case you missed it, Adu was the kid who was going to save soccer in the United States before David Beckham was called in from the bullpen.
News item: Barry Bonds has hired two lawyers to file lawsuits against people who have publicly accused him of using steroids and evading taxes.
My take: This is a scary development for everyone who thought Bonds was too busy using steroids and evading taxes to care what anybody else was saying about him.
News item: The Three Brothers World Pizza Eating Championship was held yesterday in Greenbelt.
My take: I'm pretty sure they scheduled it during my radio show on purpose. Nineteen slices in 10 minutes? Child's play.
Listen to Peter Schmuck on WBAL (1090 AM) at noon Saturdays and Sundays.