By RONALD BLUM, AP Sports Writer
NEW YORK (AP) _ CC Sabathia decided to stay with the New York Yankees rather than test the free-agent market, agreeing Monday to a new deal that adds $30 million to his existing contract and will pay $122 million over the next five years.
The 31-year-old left-hander had until midnight to opt out of his current agreement, which had $92 million remaining over the next four years in $23 million annual salaries.
The new deal adds a $25 million salary for 2016 and gives the
Yankees a $25 million option for 2017 with a $5 million buyout, a
person familiar with the agreement told The Associated Press. The
person spoke on condition of anonymity because the Yankees had not
yet announced the deal.
“My goal the whole time was to be able to finish my career as a Yankee,” Sabathia said in a video posted on Twitter. “I look forward to seeing everybody out at the ballpark next year.”
The option becomes guaranteed if Sabathia does not end the 2016 season on the disabled list because of a left shoulder injury, does not spend more than 45 days of 2016 on the DL with a left shoulder injury or does not make six or more relief appearances in 2016 because of shoulder issues.
He retains a hotel suite on trips, a no-trade provision and the right to buy tickets.
Sabathia agreed to a $161 million, seven-year deal with New York before the 2009 season. He has gone 59-23 with a 3.18 ERA during the regular season for the Yankees.
(Copyright 2011 by The Associated Press. All Rights Reserved.)