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David Price agrees to 7-year, $217 million deal with Boston Red Sox
David Price has reached an agreement on a seven-year, $217 million deal with the Boston Red Sox, sources confirmed to ESPN.
The Boston Globe first reported the agreement, citing a source.
The $31 million average annual value of the contract is the most ever for a pitcher and matches that of Tigers slugger Miguel Cabrera, according to ESPN Stats & Information. Prior to Price's deal, the most the Red Sox had paid a pitcher, in annual value and overall cost, was the four-year, $82.5 million extension signed by Rick Porcello in April. Max Scherzer signed a seven-year, $210 million deal with the Nationals last winter, and Clayton Kershaw's contract extension with the Dodgers was for $215 million.
Price, 30, was 18-5 with an AL-leading 2.45 ERA last season with the Detroit Tigers and Toronto Blue Jays. He was second in the AL in pitching WAR at 6.0 in 2015.
The five-time All-Star has an opt-out after three years with no deferred money. The yearly payout for Price is $30 million, $30 million, $30 million, $31 million, $32 million, $32 million and $32 million.
Acquired by the Blue Jays at the trade deadline, Price went 9-1 with a 2.30 ERA in the regular season for Toronto. The postseason was a different story, however, as a ghastly 6.17 ERA was coupled with a 1-2 mark in the Blue Jays' first playoff appearance since 1993.
Price spent the first six seasons of his career with the Tampa Bay Rays, including a Cy Young year in 2012. He posted an 82-47 record with a 3.18 ERA during his time with the Rays, before being dealt to Detroit in 2014. At that time, current Red Sox president of baseball operations Dave Dombrowski was serving as the Tigers GM.
Price went 13-8 in 32 regular-season starts with the Tigers over parts of two seasons, but he failed to be the final piece in bringing a World Series title to Detroit.
The Red Sox are banking on Price being the ace the team has lacked since left-hander Jon Lester was traded to Oakland at the 2014 trade deadline. The Red Sox tried to reacquire Lester as a free agent prior to last season, but he ultimately signed with the Cubs.
Price's 1.95 ERA at Fenway Park is the best of any ballpark he has visited at least 10 times and the lowest among any player since Price debuted in 2008.
Last year, the Red Sox finished 78-84 and in last place in the AL East for the second time in three years. The starting rotation was a major factor in the team's struggles. The Red Sox used 12 different starting pitchers, and that group's combined ERA of 4.39 ranked 13th in the AL. None of the starters reached 200 innings, and the team's de facto ace coming out of spring training, Clay Buchholz, made just 18 starts.
With Price aboard, the 2016 rotation also figures to include Porcello, Buchholz, Wade Miley, and Eduardo Rodriguez. The team has rotation depth with Joe Kelly, Henry Owens and Brian Johnson.
The Boston Globe first reported the agreement, citing a source.
The $31 million average annual value of the contract is the most ever for a pitcher and matches that of Tigers slugger Miguel Cabrera, according to ESPN Stats & Information. Prior to Price's deal, the most the Red Sox had paid a pitcher, in annual value and overall cost, was the four-year, $82.5 million extension signed by Rick Porcello in April. Max Scherzer signed a seven-year, $210 million deal with the Nationals last winter, and Clayton Kershaw's contract extension with the Dodgers was for $215 million.
Price, 30, was 18-5 with an AL-leading 2.45 ERA last season with the Detroit Tigers and Toronto Blue Jays. He was second in the AL in pitching WAR at 6.0 in 2015.
The five-time All-Star has an opt-out after three years with no deferred money. The yearly payout for Price is $30 million, $30 million, $30 million, $31 million, $32 million, $32 million and $32 million.
Acquired by the Blue Jays at the trade deadline, Price went 9-1 with a 2.30 ERA in the regular season for Toronto. The postseason was a different story, however, as a ghastly 6.17 ERA was coupled with a 1-2 mark in the Blue Jays' first playoff appearance since 1993.
Price spent the first six seasons of his career with the Tampa Bay Rays, including a Cy Young year in 2012. He posted an 82-47 record with a 3.18 ERA during his time with the Rays, before being dealt to Detroit in 2014. At that time, current Red Sox president of baseball operations Dave Dombrowski was serving as the Tigers GM.
Price went 13-8 in 32 regular-season starts with the Tigers over parts of two seasons, but he failed to be the final piece in bringing a World Series title to Detroit.
The Red Sox are banking on Price being the ace the team has lacked since left-hander Jon Lester was traded to Oakland at the 2014 trade deadline. The Red Sox tried to reacquire Lester as a free agent prior to last season, but he ultimately signed with the Cubs.
Price's 1.95 ERA at Fenway Park is the best of any ballpark he has visited at least 10 times and the lowest among any player since Price debuted in 2008.
Last year, the Red Sox finished 78-84 and in last place in the AL East for the second time in three years. The starting rotation was a major factor in the team's struggles. The Red Sox used 12 different starting pitchers, and that group's combined ERA of 4.39 ranked 13th in the AL. None of the starters reached 200 innings, and the team's de facto ace coming out of spring training, Clay Buchholz, made just 18 starts.
With Price aboard, the 2016 rotation also figures to include Porcello, Buchholz, Wade Miley, and Eduardo Rodriguez. The team has rotation depth with Joe Kelly, Henry Owens and Brian Johnson.
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