Royals' Whit Merrifield: Extension contains 2023 team option

The four-year contract extension Merrifield agreed to Sunday with the Royals includes a $10.5 million team option for 2023, Jeff Flanagan of MLB.com reports.

Merrifield's deal will guarantee him at least $16.25 million. He'll make $15.5 million over the first four years of the deal and will be due a $750,000 buyout in the event the Royals choose not to exercise the 2023 team option in what would be his age-34 season. The speedster's contract also contains salary escalators in 2021 and 2022 for reaching certain award or plate appearance-based thresholds that would make the deal worth $31.75 million at maximum. It's an extension that works well for both sides, as it gives Merrifield a higher annual salary ceiling while buying out his arbitration years and enables the Royals to retain one of their top performers over the past two seasons at an affordable price.