Right-handed pitcher Luis Severino has finalized a substantial contract with the Oakland Athletics, valued at $67 million over three years, according to multiple sources familiar with the discussions.
The individuals requested anonymity as the team has yet to officially confirm the agreement. Notably, Severino has the option to opt out of the deal after the 2026 season.
This contract marks a historic milestone for the financially constrained franchise, surpassing the previous record of $66 million set for third baseman Eric Chavez during the 2005-10 period.
There were doubts regarding the Athletics’ ability to attract a high-priced free agent, especially with plans to relocate and play the next three seasons in West Sacramento, California, before potentially moving to a new venue in Las Vegas. The A’s have faced challenges, wrapping up a disappointing 69-93 season in 2024, marking their third consecutive year of losses before departing from Oakland after 57 years.
Severino, who will celebrate his 31st birthday on February 20, enters this new chapter after becoming a free agent for the second consecutive offseason. During his time with the New York Mets, he recorded an 11-7 record with a 3.91 ERA over 182 innings, his strongest performance since being an All-Star for the second year in a row with the New York Yankees in 2018.
After leaving the Yankees, Severino signed a one-year contract with the Mets worth $13 million, with the potential to earn an additional $2 million in performance bonuses.
Across his career, Severino boasts a record of 65 wins against 44 losses, with a 3.81 ERA spanning 156 starts and 16 relief appearances split between the Yankees (2015-23) and Mets.
He declined a qualifying offer worth $21.05 million from the Mets, resulting in the team receiving an additional draft pick after the fourth round in next July’s amateur draft. Meanwhile, Oakland will lose its third-highest draft selection as a result of this signing.
