Jerry Crasnick of ESPN reports the deal is for two-yeats, $16 million guaranteed with an option for 2020. The option for 2020 is at $8 million and Vargas can add $1.5 million each year with incentives for innings pitched.
Vargas pitched the last four seasons under the tutelage of new Mets pitching coach Dave Eiland with the Kansas City Royals. He was acquired by the Mets in a 2006 trade then later dealt to the Seattle Mariners in 2008 as part of the J.J. Putz trade.
Vargas, 35, had a 4.16 ERA, 1.33 WHIP, 4.67 FIP, 2.31 SO/W, led the American League with 18 wins and made his first All-Star team in 2017. The 3.8 WAR he posted last season was a career-high.
It was a tale of two halves though for the veteran lefty in 2017 with a 2.62 ERA, 1.15 WHIP and 3.12 SO/W in a strong first half then a 6.38 ERA, 1.60 WHIP and 1.70 SO/W in a brutal second half.
The former Met missed most of the 2015 and 2016 seasons after having Tommy John surgery in August of 2015. Vargas gives the Mets some needed depth to a starting rotation that has numerous question marks.