A’s sign Luis Severino to largest guaranteed deal in franchise history

The A’s were rumored to be more involved in the free agent market this offseason, and in the days leading into the Winter Meetings in Texas, they have made a head-turning acquisition.

According to ESPN’s Jeff Passan, the Athletics have signed right-handed starting pitcher Luis Severino to a three-year, $67 million deal–the largest guarantee in the history of the A’s franchise, surpassing a six-year, $66 million extension for Eric Chavez that was signed in 2004.

The deal includes an opt-out following the 2026 season.

Severino, 30, went 11-7 with a 3.91 ERA and 161 strikeouts over 182 innings pitched during the 2024 season with the New York Mets.

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

More on new A’s pitcher Luis Severino

Luis Severino is a nine-year MLB veteran who found success early in his career with the New York Yankees, making two All-Star teams while pitching to a record of 54-37 with a 3.79 ERA and 788 strikeouts over 188 appearances.

The right-hander has finished within the top ten of the American League Cy Young Award voting twice during this career, although several injuries have affected his availability over the years.

After pitching in just 45 games from the 2019-2023 seasons, Severino inked a one-year deal with the New York Mets prior to the 2024 season.

The right-hander re-established his value with the Mets and will now become the ace of an A’s staff that will be entering the first of a minimum three-year stay in Sacramento as they sort out the construction of a new stadium in Las Vegas.

According to Passan, the A’s–who ended the 2024 season with a payroll of $62 million–intend to bump its payroll into the $100 million range as they look to field a competitive team during their stay in Sacramento.

More A’s coverage from Sactown Sports

The Athletics’ new Las Vegas ballpark will cost $250 million more than originally projected, but team owner John Fisher is still expected to foot his share of the bill.

In a letter to the Las Vegas’s stadium authority, U.S. Bank senior vice president Stephen Vogel wrote that Fisher, whose net worth is an estimated $3.2 billion, and his family can comfortably afford the now $1.75 billion project.

“We conclude that the Fisher family and their related entities have financial assets (excluding their interest in the Athletics Major League Baseball franchise) more than sufficient to fund the equity portion of the proposed capital structure for the Athletics’ Las Vegas stadium,” Vogel wrote.

Read more below:

U.S. Bank says John Fisher can afford pricey new A’s stadium

Upcoming 2024-25 MLB Offseason Dates

• MLB free agency begins the day after the final World Series game
• Players can sign contracts with new teams five days after the final World Series game
• December 8-11th – MLB Winter Meetings in Dallas, TX
• February TBD – Pitchers & catchers report for Spring Training

Thank you for reading SactownSports.com. Follow us on Twitter and Google News, and subscribe to our YouTube channel.

Follow @FCartoscelli3

Newsletter