"Obviously I would entertain hearing it," he said. "I think anybody would."
Kennedy said that as far as he knows, his agent, Scott Boras, has not had any multiyear discussions with the D-backs.
Kennedy was acquired by the D-backs in a three-team trade prior to the 2010 season. In two full seasons in Arizona, he is 30-14 with a 3.31 ERA. Last year, he finished fourth in the National League Cy Young Award voting after going 21-4 with a 2.88 ERA.
Teams sometimes try to lock up their younger players before they hit arbitration. The risk for the club is that the player doesn't perform as expected, whereas the benefit is if he does, they often get him at a reduced cost.
For players, it's a balancing act between accepting a little less in terms of money for greater security.
"It's always hard because you see a lot of contracts like that don't make sense for players," Kennedy said. "For them it does. I know it's hard for someone to pass up millions of dollars guaranteed. I believe as a player you have the right to negotiate every year if you want to. It all depends on if it makes sense for teams and for players."
Kennedy recently discussed contracts with new teammate Trevor Cahill, who last year signed a five-year, $30.5 million contract that includes a pair of club option years.
"He said for him he couldn't pass it up," Kennedy said. "Sometimes it works out for the team, sometimes it works out for the player. You never know."