New York - Luis Severino and the Yankees have agreed to a four-year, $40 million contract extension which buys out his arbitration years and includes a fifth-year club option that would cover one season of free agency.
Severino, whose contract also includes a fifth-year option, will receive a $2 million signing bonus and earn $4 million in salary in 2019. He will make $10 million in 2020, $10.25 million in 2021 and $11 million in 2022.
He also has a $15 million club option that covers his first year of free agency in 2023. The Yankees could buy that out for $2.75 million, which is included in the guaranteed money, meaning Severino's contract could max out at $52.25 million.