How Much Would You Pay Edwin Encarnacion?

MLB Trade Rumors has a post up with a list of the 2013 Blue Jay contract issues. There are a couple of interesting questions in there, we've talked about Kelly Johnson's impending free agency some and I'm curious about what Jason Frasor will get, without the Type A designation dragging him down. The one that interests me most is Edwin Encarnacion.

Edwin, as you know, has had an up and down existence with the Jays. He's been lost on waivers, he's been sent to the minors, he's been burned in effigy and burned with fireworks. He's been called lazy, by Blue Jay fans, and called the hardest worker on the team by teammates and his GM. Everything seemed to turn around for him mid-season last year. In the second half he hit .291/.382/.504.

This year he is hitting:

The thing that surprises me most is the 6 stolen bases, tied for second on the team. The 14 home runs and the 37 RBI lead the team.

As always, it takes two to sign a contract. If I'm the Jays, I'd want to sign him soon. Now or sometime before the All-Star break. I don't want him to get to the open market. Now I don't know, perhaps Edwin would like to see what he could get on the open market. Maybe he'll hit 30 homers this year and be in a really good spot to pry a lot of money out of the Yankees or someone.

If I'm Edwin? I don't know. I guess it depends on how much you like playing for he Jays. If he likes it here, and I think he does. He seems to have friends and seems to get along with everyone. He seems to be having fun. I'm not sure if he'd be willing to less than full market value to stay with the Jays

I'd think I'd want to sign him to a 2 year contract at around $8 million, with an option for a third year at $10 million. If Edwin would sign that, I'd be happy.

What do you think it would take to sign Edwin?