Boston Red Sox Sign Injured All-Star Closer Liam Hendriks to Multi-Year Deal
UPDATE, FEB. 20: The Red Sox officially announced they had signed Hendriks on Tuesday.
MassLive.com's Chris Cotillo reported that Hendriks will have a $2 million salary in 2024 without any incentives. His salary will climb to $6 million in 2025, in addition to $10 million becoming available in incentives.
There will also be a mutual option built into Hendriks' deal for 2026 worth $12 million. If the two sides cannot agree to move forward, Hendriks will be owed a $2 million buyout.
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The Boston Red Sox and closer Liam Hendriks have agreed to a multi-year contract, according to multiple reports Monday morning.
MassLive.com’s Chris Cotillo and Sean McAdam were first to report that the Sox were close to adding Hendriks. ESPN's Buster Olney had the contract details after Hendriks completed his physical at Fenway South in Fort Myers, Florida.
Hendriks earned a two-year deal worth $10 million on the open market. His deal also includes additional performance bonuses, per Olney.
The 35-year-old relief pitcher is currently recovering from Tommy John surgery, which he underwent last summer. It remains to be seen if he will be able to pitch at all in 2024.
Hendriks is also just one year removed from undergoing cancer treatment. He revealed his non-Hodgkin lymphoma diagnosis in January 2023, finishing chemotherapy by April, announcing he was cancer-free later that month and winning AL Comeback Player of the Year in November.
Before his career was nearly derailed, Hendriks had been thriving as one of baseball's best closers.
Hendriks made his debut as a starting pitcher with the Minnesota Twins in 2011, and he remained a starter with the Toronto Blue Jays and Kansas City Royals in 2014. He finally became a reliever in 2015, and his production took a major leap once he came the Oakland Athletics' closer in 2019.
Over the next four seasons, Hendriks made three All-Star Games, placed twice in AL Cy Young voting twice and even earned a handful of AL MVP votes in 2020. In 2021, he won the Mariano Rivera AL Reliever of the Year Award.
Hendriks went 19-12 with a 2.26 ERA, 0.883 WHIP, 13.5 strikeouts per nine innings, 114 saves and a 9.4 WAR from 2019 to 2022.
The Chicago White Sox – who signed Hendriks to a three-year, $54 million deal in the 2021 offseason – declined their $15 million club option on Hendriks' deal last fall. They will now pay him $1.5 million in each of the next 10 years as part of his buyout agreement.
Boston has now added multiple relievers who are unlikely to pitch this offseason – Hendriks and former AL Rookie of the Year Michael Fulmer. As a result, Hendriks' arrival likely won't do too much to influence the trade rumors surrounding current closer Kenley Jansen.
The 36-year-old Jansen, who is due $16 million in 2024, will become a free agent at the end of this season. Jansen led all of baseball in saves from 2019 to 2022, while Hendriks ranked third.
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