Hughes agrees to 3-year, $42M extension with Twins
Right-handed pitcher Phil Hughes reached agreement on a three-year, $42 million guaranteed contract extension with the Minnesota Twins, according to multiple reports Monday.
Hughes, 28, reportedly will make $9.2 million in 2015 and 2016 and earn base salaries of $13.2 million from 2017 to 2019.
The deal includes a limited no-trade clause and a chance to make $1 million in performance bonuses over the life of the contract. The extension overwrites the final two years and $16 million remaining on his current contract.
Hughes will get an annual salary increase of $1.2 million over the $8 million he had previously been owed in 2015 and 2016. The overall value of $58 million over five years makes his new contract the largest for a pitcher in Twins franchise history, according to ESPN.com.
Hughes was 16-10 in 32 starts last season, with a 3.52 ERA over 209 2/3 innings in his first season with Minnesota. He had 186 strikeouts and only 16 walks, and his strikeout-to-walk ratio of 11.63 set a major league record.
Hughes fell one out short in his final start to earn a $500,000 incentive bonus that he would have reached for pitching 210 innings. The Twins offered to let Hughes pitch in relief during the season's final weekend to earn the bonus, but he turned down the offer.
Hughes' first seven seasons in the majors were with the New York Yankees. He has a 72-60 career record.