Left-handed starting pitcher Martin Perez has agreed to a $12.5 million four-year contract with the Texas Rangers.
The deal is guaranteed for four years for the 22 year old, but contains three club options that could take the entire deal to $32.55 million over seven seasons.
The team options for Perez are $6 million, with a $2.45 million buyout in 2018, $7.5 million, with a $750 thousand buyout for 2019, and $9 million with a $250 thousand buyout in the 2020 season.
The young southpaw posted strong numbers in his rookie year, making 20 starts with 10 wins, six losses and a 3.62 ERA in 124.1 innings pitched.
Perez’ new contract goes right in line with the extensions given to fellow Rangers’ pitchers in recent years -- Derek Holland’s five-year, $28.5 million before 2012 season, Matt Harrison’s five-year, $55 million prior to 2013.
In 13.1 innings (two starts) against the Oakland Athletics during the 2013 season, Perez was 1-1 with eight strikeouts, two walks and a 2.70 ERA.