Rays' Blake Snell: Signs five-year extension

Snell and the Rays agreed to a five-year, $50 million contract extension Thursday, Jeff Passan of ESPN.com reports.

Snell gets rewarded for his Cy Young performance and the Rays get to lock up their young ace through his age-30 season. The deal buys out Snell's remaining years of team control as well as one additional season. It does not contain any options. Snell will remain in the Rays' pitcher-friendly home park for the foreseeable future, though he'll also be stuck in the same division as the Yankees and Red Sox for the majority of his prime.