The Red Sox announced last night that pitcher Rick Porcello has agreed to a four year extension worth in the neighborhood of $82,500,000. The righty also received a $500,000 signing bonus. He will be paid $20 million next year as well as in 2017, and $21 million in 2018 and 2019. His 2015 contract remains a mere $12.5 million.
Porcello was headed for free agency after this season. Following his trade from the Detroit Tigers in December for outfielder Yoenis Cespedes, he came to terms on a one-year, $12.5 million deal. The Red Sox now will have Porcello under contract until he’s 30 years old.
The 26-year-old is scheduled to start the team’s second game of the new season, Wednesday night against the Philadelphia Phillies at Citizens Bank Park. Last year he went 15-13 with a career-best 3.43 ERA, and the first in which he pitched at least 200 innings (204). Lifetime, he is 76-63 with a 4.30 ERA, and a .547 winning percentage.
Since coming into the major leagues six years ago, he has consistently hit double figures in wins, but has never had an ERA lower than 3.43, which he attained last year, and which was his career best. Last year he led the American League in shutouts with three.
So, while this might seem like quite a bit of money for somebody who is just a bit above a lifetime .500 pitcher, the thought process must be that he is young and will only get better. Had he played out what could have been a contract year and done well, he surely would have fielded some bigger and longer offers.
Porcello grew up in Morristown, New Jersey, less than an hour from Yankee Stadium; he attended Seton Hall University, so it’s a good bet that Hank Steinbrenner would have been angling to bring him closer to home. That won’t happen for some time now.