Jeff Passan of ESPN reports that the New York Yankees and right-handed ace Luis Severino are in agreement on a four-year, $40MM extension with a club option for 2023. Joel Sherman of the New York Post had reported the two sides nearing a multi-year agreement (pending a physical) to avoid arbitration earlier in the day.
Just five days from 25 years of age, Severino made just under $605K last year despite scratching his second consecutive All-Star nomination. Per Passan, his new contract will pay $4MM in 2019 (with an additional $2MM in bonuses available), $10MM in 2020, $10.25MM in 2021, and $11MM in 2022. The club option following the original four years is worth $15MM, and includes a $2.75MM buyout. Ken Rosenthal of The Athletic adds that Severino’s camp had pushed for a front-loaded deal to protect against a possible labor strike in 2021 – when the league’s Collective Bargaining Agreement is set to expire.
He went 19-8 this past year with a 3.39 ERA and 2.95 FIP in 32 starts last year, averaging 10.1 K/9 against 2.2 BB/9. Though his 5.7 fWAR on the year ranked seventh among big league starters, it’s worth noting that his first half numbers were perhaps his most enticing. Between a 97.7 mph average on his fastball (highest in the majors), 14 runs above average with his slider (third-highest behind Jhoulys Chacín and Chris Sale), and 83.1% strand rate (sixth), he has already established himself as one of the game’s elite pitchers. A 5.57 ERA in the second half hurt his overall figures, as his nine homers in 63 innings of work marked a brutal increase relative to the 10 homers he’d allowed through his first 163 innings.
The news of Severino’s extension comes just two days after the Philadelphia Phillies and Aaron Nola came to a similar agreement worth $45MM over four years, and just one day following the Minnesota Twins’ respective pacts with franchise bats Max Kepler (five years, $35MM) and Jorge Polanco (five years, $25.75MM). Needless to say, such recent developments inevitably put pressure on the New York Mets to escalate talks with their Cy Young Award-winning ace Jacob deGrom.
