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White Sox extend Jake Peavy, pass on Kevin Youkilis & Brett Myers

The White Sox extended Jake Peavy for two years and $29 million. (Jonathan Daniel/Getty Images)

The White Sox have announced a contract extension for pitcher Jake Peavy. It's a two-year deal worth $29 million and includes an option for 2015.

Peavy recently hired agent Jeff Berry of CAA heading into the negotiations after contemplating representing himself.

Peavy, whose seasons with the White Sox have been diminished by injuries or ineffectiveness since being acquired in 2009, was a workhorse and anchor for Chicago's staff in 2012. Peavy finished 11-2 with a 3.37 ERA while pitching 219 innings in 32 starts

In his 32 starts, Peavy did not fail to pitch at least five innings. He went at least six innings in 28 of those starts and at least seven innings in 16 of them.

The White Sox also announced that they have exercised the 2013 club option on pitcher Gavin Floyd, but declined 2013 club options on third baseman Kevin Youkilis and pitcher Brett Myers.

Youkilis was traded to the White Sox after a teary departure from the Red Sox in June. He hit .236 with 15 home runs, 46 RBI and 47 runs scored in 80 games with the White Sox.

Whether or not to part ways with Peavy, A.J. Pierzynski and Youkilis were just some of the tough decisions facing new White Sox GM Rich Hahn. Pierzynski filed for free agency on Tuesday.

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