The Tampa Bay Rays have successfully negotiated a one-year extension on Tyler Glasnow’s existing deal.
The right-hander was due to enter free-agency after next season, but his new contract now prolongs his stay in St. Petersburg until 2024.
According to MLB insider Jeff Passan, the Rays will pay Glasnow $5.35 million in 2023 and an astonishing $25 million the year after.
“Right-hander Tyler Glasnow and the Tampa Bay Rays are in agreement on a one-year, $25 million contract extension, sources tell ESPN. Glasnow, 29, was set to reach free agency after the 2023 season. Rays will pay him $5.35 million next year as he returns from Tommy John surgery.” – Jeff Passan
They have never previously offered a $25 million annual salary to any player. Although, Justin Verlander’s Astros deal will cross that figure in 2028 under the terms of his 11-year-extension contract, which he signed last year.
The move has caught many fans off-guard since the Rays are not known for spending so heavily.
Since joining the Rays in 2018, Glasnow is 17-9 with a 3.10 ERA in 48 starts. He is recovering from Tommy John Surgery and is yet to pitch this season.
Glasnow blew out his elbow on June 14 last year while playing against the Chicago White Sox. At the time, he ranked second in the majors with 123 strikeouts to his name. He was sixth in the American League with a 2.66 ERA.
Tampa Bay Rays banking heavily on Glasnow’s comeback
The Tampa Bay Rays have supported Glasnow throughout his rehab and it’s evident that they have immense trust in his abilities.
When Glasnow returns to full fitness, the Rays will boast a rotation headlined by Glasnow and Shane McClanahan.
Rays manager Kevin Cash couldn’t be happier, and understandably so. A double-edged Glasnow-McClanahan sword has the potential to slice through any offense.
“Just to think about a healthy Glasnow that adds to what we would consider a really good starting rotation as-is, how can you not be excited about it? Before Glasnow’s injury, and then what McClanahan [is doing], you put those guys together, it’s probably hard to find 1-2 punches that are better.” – Kevin Cash
If Glasnow can pick up right where he left off, then the deal won’t seem inflated at all. It’s a high risk move, but with the potential for even higher rewards.
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