According to The New York Post, the New York Yankees have reached an extension agreement with star pitcher Luis Severino. This deal is reported to be a four-year, $40-million contract. It will run through the 2022 MLB season and includes a team option for 2023. Upon passing a pending physical, this deal will allow Severino to avoid his upcoming arbitration hearing.
Luis Severino Staying in Pinstripes
According to ESPN writer Jeff Passan, the deal will be worth $4 million (with an additional $2 million bonus) in 2019, $10 million in 2020, $10.25 million in 2021, and $11 million in 2022. The potential fifth year would be for $15 million in 2023. While this contract does provide Severino with security for the next several years, it is also a very team-friendly deal.
Breakdown of Luis Severino's deal, per source:
2019: $4M+$2M bonus
2023 (club option): $15M with $2.75M buyout
Interesting part of that: higher salaries in '20 and '21, lower than usual in '22. Why? Protection against a work stoppage.
— Jeff Passan (@JeffPassan) February 15, 2019
Severino will be a major part of the Yankees rotation as they attempt to contend for a championship in 2019. The 25-year-old ace is a two-time All-Star (2017, 2018) and finished last season with a 19-8 record, a 3.39 ERA, and 220 strikeouts. Barring a setback, Severino should make his second consecutive Opening Day start this year.
The biggest potential criticism of Severino has been his post-season performances over the past few years. He has traditionally been at his best early in the season while struggling with control and fatigue as the year goes on. In two appearances during last year’s playoffs, he posted an 0-1 record with a 7.71 ERA. He has pitched in six total postseason games in his career. In those appearances, he has only been able to manage a 1-2 record with a 6.26 ERA over 23 innings.
However, those concerns aside, the Yankees will consider this contract a major victory for their team. They have locked up their 25-year-old ace to a very affordable deal and secured his role for the upcoming season.
Questions now turn to what could be next for New York. Securing a No. 1 starter at this price gives the Yankees plenty of flexibility to add another key player down the road.
Embed from Getty Images