The New York Yankees and starting pitcher Luis Severino have avoided arbitration by agreeing to a four-year, $40 million deal, according to multiple reports. Severino will be guaranteed $40 million over a four-year contract that includes a club option for a fifth season. The new contract is pending a physical.
The extension comes after Severino asked for $5.25 million after the Yankees only offered him $4.4 million at
ESPN's Jeff Passan has the full breakdown of Sevy's new deal:
Breakdown of Luis Severino's deal, per source:— Jeff Passan (@JeffPassan) February 15, 2019
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.
As Passan notes, Severino and his agents pushed for a more front-loaded contract compared to conventional extensions. The reason that's been agreed upon is because it's a means of protection against a potential work stoppage when the current Collective Bargaining Act ends on Dec. 1, 2021.
The Phillies' recent deal with starting pitcher Aaron Nola created the framework for the Yankees to sign Severino long-term. Nola and the Phillies agreed to a Severino's deal with New York can max out at $52.25 million over five years. He will give up only one year of free agency -- one fewer than Nola did. If the Yankees exercise the $15 million option, Severino will hit the open market at 29 years old.
The Yankees rotation seems to be in good shape for the 2019 season after locking up Sevy, the club's No. 1 starter. Mashairo Tanaka and James Paxton will both be free agents in two years, while J.A. Happ was CC Sabathia is set to
Severino, who turns 25 next week, is coming off a ninth-place finish in Cy Young Award voting. He started 32 times last season, recording a 129 ERA+ and 4.78 strikeouts per walk. In 2018, Severino led all MLB pitchers with an average fastball velocity of 97.6 miles per hour for the second consecutive year. Across his four MLB seasons, Sevy owns a 41-25 record with a 3.51 ERA, along with 572 strikeouts in 518 innings.
Now, the Yankees have settled with all nine of their arbitration-eligible players. Sluggers Aaron Judge and Gary Sanchez are part of the next set of arbitration players, both eligible after the 2019 season.