A's, Luis Severino agree to surprising $67 million contract

Maybe John Fisher is ready to spend the big bucks after all.

With doubts still looming over a proposed Las Vegas ballpark and the project's price tag rising $250 million to $1.75 billion, the frugal Athletics owner has yet to make the full financial commitment to begin construction near The Strip. Fisher, however, is putting his money where his mouth is elsewhere — shockingly in the team's major-league roster.

On Thursday, the A's made the most surprising move of the MLB offseason by reportedly agreeing to a three-year, $67 million contract with pitcher Luis Severino.

The pact is the largest amount of guaranteed money in A's franchise history, topping the six-year, $66 million extension of third baseman Eric Chavez in 2004.

BREAKING: Right-hander Luis Severino and the A’s are in agreement on a three-year, $67 million contract, sources tell ESPN. It is the largest guarantee in the history of the A’s franchise. And even with the qualifying offer attached, Severino got well over market expectations.
— Jeff Passan (@JeffPassan) December 5, 2024

ESPN's Jeff Passan reported that the 30-year-old Severino got a contract that "exceeded industry expectations."

The A's over-market offer apparently convinced the former New York Yankees All-Star starter to come to Sacramento, where the team will play in a renovated minor-league stadium for at least the next three seasons while its Vegas stadium is built.

Passan also reported that Severino can opt out in the deal's second year. Severino will receive a $10 million signing bonus, too, according to Yahoo Sports' Russell Dorsey.

Breaking: Right-hander Luis Severino and the Athletics are in agreement on a three-year, $67 million deal, sources tell @YahooSports. The deal includes a $10 million signing bonus. It is the largest free-agent contract in franchise history. Severino, who had a big bounce-back…
— Russell Dorsey (@Russ_Dorsey1) December 5, 2024

Talk of the A's increasing their team payroll significantly was met with the requisite skepticism. Their 2024 payroll was the lowest in the majors at just $63.4 million.

The addition of Severino backs up the ambitious talk of general manager David Forst to add veteran pieces around the club's young talent to make a splash in its first season in Sacramento.

Severino was an All-Star in 2017 and 2018 as a key cog in the Yankees' starting rotation. His next three seasons were marred by injuries and a 2020 Tommy John surgery that had him miss most of the 2021 campaign.

Severino revived his career last season with the New York Mets. He made 31 starts and posted a 3.91 ERA with 161 strikeouts in 182 innings.

A's make MLB's most surprising move with $67 million deal for Luis Severino

By Joe Lago | Dec 5, 2024