CHICAGO — The Chicago White Sox have finalized a one-year contract valued at $5 million with left-handed pitcher Martín Pérez, which includes a potential mutual option for the year 2026 worth $10 million.

Under the terms of the agreement, Pérez will earn a salary of $3.5 million for the current season. Should the mutual option not be exercised, he will receive a buyout amounting to $1.5 million.

Pérez has numerous performance bonuses outlined in his contract. For example, if he secures the Most Valuable Player award, he would earn an additional $100,000. The financial incentives decrease for places in the MVP voting, with $90,000 for second, $80,000 for third, $70,000 for fourth, and $60,000 for fifth. Similar bonus structure also applies for the Cy Young Award, which rewards him for top finishes in voting.

Further bonuses include $25,000 for being elected to the All-Star Game and an additional $15,000 if he makes the final roster. He could also receive $100,000 for being named World Series MVP, $75,000 for the League Championship Series MVP, $50,000 if he earns a spot on The Sporting News All-Star team, and $25,000 for winning a Gold Glove award.

Pérez, who is now 33 years old, started his career with the Texas Rangers back in 2012. He was named an All-Star in 2022 and played a significant role in helping the Rangers clinch the World Series title in 2023.

Last season, he played for both the Pittsburgh Pirates and the San Diego Padres, finishing with a record of 5-6 and a 4.53 ERA across 26 starts. Over his career, he has 90 wins against 87 losses and maintains a 4.44 ERA in a total of 314 major league appearances, including 269 starts.

Pérez faced some challenges last season, spending time on the injured list due to a left groin strain from late May to late June. He rebounded to deliver six scoreless innings in his final appearance for the Pirates before being traded to the Padres on July 30.

He found success with San Diego, concluding the season with a strong finish of 3-1 and a 3.46 ERA in his final ten starts. However, he did not participate in the postseason, as the Padres were eliminated by the Dodgers in the National League Division Series.