WATCH LIVE: Phillies set 3 p.m. press conference for Cliff Lee

The Phillies will re-introduce Cliff Lee as a member of their starting pitching rotation at a 3 p.m. press conference.

CLICK HERE to watch the press conference live

While everyone knew that Lee has been a Phillie for about 36 hours now, the only people who hadn't commented officially were the Phillies. Not anymore

 The team just sent out a press release officially announcing they had signed Lee to a five-year deal (with a vesting option for a sixth year) for $120 million. So you can hop right to that Christmas shopping if you were waiting on one of those red-pinstriped No.33s. That will be Lee's new numbers with the Phils. Roy Halladay wears No. 34, the number Lee wore two years ago for the Phils.

Lee's official (re)introduction as a Phillie will take place during a press conference at 3 p.m. today at Citizens Bank Park. Lee, Ruben Amaro Jr. and Charlie Manuel are scheduled to be there.