Yankees Rumors: New York Signs Top Starting Pitcher For At Least 4 Years With New Contract

Luis Severino Yankees — Luis Severino #40 of the New York Yankees walks back to the dugout after being pulled against the Boston Red Sox during the fourth inning in Game Three of the American League Division Series at Yankee Stadium on October 08, 2018 in the Bronx borough of New York City. Elsa/Getty Images

The New York Yankees have agreed to sign Luis Severino to a four-year contract, according to multiple reports. The starting pitcher will make $40 million with a team option for a fifth season.

The Yankees and Severino had been set to go to arbitration to decide his 2019 salary. The right-hander would’ve made either $4.4 million or $5.25 million for the upcoming year.

Starter Luis Severino and the New York Yankees are in agreement on a four-year, $40 million contract extension that includes a fifth-year club option, a league source tells ESPN. The deal will buy out four years of arbitration and potentially one free agent season.
— Jeff Passan (@JeffPassan) February 15, 2019

Severino’s deal covers his four arbitration years and the option covers what would be first chance at free agency. #Yankees
— Joel Sherman (@Joelsherman1) February 15, 2019

All in, Luis Severino's deal will be worth $52.25 million over five years if the fifth-year option is exercised by the Yankees. If it's not, he'll earn $40 million over four years.
— Mark Feinsand (@Feinsand) February 15, 2019

Severino, 24, gets some long-term security after an inconsistent 2018 campaign. He posted a 5.57 ERA after the All-Star break and struggled in the playoffs.

If Severino performs as he did in 2017 and the first half of 2018 over the next few seasons, the deal could be a steal for the Yankees. Severino finished third in the 2017 AL Cy Young voting, and he went 14-2 with a 2.31 ERA before last year’s All-Star break.

Severino would’ve been arbitration-eligible for the next four seasons before hitting free agency after the 2022 MLB season. New York will have have the option to delay Severino’s free agency by a year.

NL Cy Young winner Jacob deGrom just avoided arbitration by agreeing to a $17 million salary for the 2019 season two years before hitting free agency. The Philadelphia Phillies recently signed Aaron Nola to a four-year, $45 million contract. Nola finished third in the NL Cy Young voting, and he would’ve become a free agent in the final year of his new deal.

Severino has a 3.51 career ERA in 518 innings since making his MLB debut in 2015.

Major league baseball