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The deal is worth $40 million, according to
multiple reports, and could earn Severino as much as $52.25
million.
The contract runs through the 2022 season, with the team holding
an option for 2023.
Severino, who turns 25 next week, went 19-8 with a 3.39 ERA last
season.
According to ESPN, he is set to earn $6 million (including a $2
million bonus) this season, $10 million in 2020, $10.25 million
in 2021 and $11 million the following season. The Yankees hold a
$15 million option for 2023, with a buyout of $2.75 million.
The agreement was subject to a physical.
Severino had filed an arbitration figure of $5.25 million for
this season, with the Yankees countering at $4.4 million.
New York manager Aaron Boone said earlier this week he expects
Severino to be the team's Opening Day starter for the second
consecutive season.
Severino made his major league debut with the Yankees in 2015,
becoming a full-time starter in 2017. The right-hander is 41-25
with a 3.51 ERA in 96 appearances (85 starts). He has struck out
572 and walked 144 in 518 innings.
He struggled down the stretch last season after starting 14-2
with a 2.12 ERA through July 7. He went 5-6 with a 5.69 ERA in
his final 13 starts.
Severino told reporters at spring training this week that he
changed his diet in the offseason and has dropped 12 to 15
pounds in an effort to avoid late-season fatigue.
--Field Level Media
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