Friday's extension will cover the four years of arbitration remaining on Severino's contract.
The Yankees have agreed to a four-year contract extension with starting pitcher Luis Severino, the team announced Friday. The deal extends through the 2022 season and includes a club option for the 2023 season.
The deal is reportedly worth $40 million with a club option for a fifth season, according to the New York Post's Joel Sherman.
Friday's deal will keep Severino in New York through his age-29 season. The deal came two days after Phillies' ace Aaron Nola signed a four-year, $45 million to stay in Philadelphia long-term. Both pitchers finished their fourth respective MLB season in 2018. Severino is a two-time All-Star. Nola reached his first All-Star Game in 2018.
Severino finished third in the AL Cy Young voting in 2017 and ninth in 2018. He struck out 220 batters in 191 1/3 innings last year with a 3.39 ERA. Severino tallied 19 wins, third among all American League starters.
The Yankees finished second in the AL East in 2018 at 100–62. They lost to the Red Sox in the American League Division Series.