According to Bill Shaikin of the Los Angeles Times and Jon Heyman of CBS Sports, Street will make $17 million over the life of the deal with the option being valued at $10 million with a $1 million buyout. Overall, Street can make up to $27 million over three seasons in his deal with the Angels.
The 31-year-old Street has been one of the most reliable closers over his career, racking up a career 286 saves and a 86.1 save percentage in 11 years with the Athletics, Rockies, Padres, and Angels. He was scheduled to be a free agent after this year following a six-year, $43 million deal.
This year, Street is 2-1 with a 3.29 ERA (2.06 FIP; 120 ERA+) and 11 saves in 13 opportunities in 13.2 innings pitched. He has a 15 to 5 strikeout-to-walk ratio this year.
The Angels and Street have both wanted an extension done. Street had represented himself through Spring Training, but when Opening Day hit, he re-hired agent Alan Hendricks to represent himself during the season.
The Angels boast one of the better bullpens in baseball, as they rank 10th in the Majors with a 3.27 ERA. However, they have apparently have had some really good luck, as their FIP and xFIP both suggest that the Angels' ERA should be worse than it is.
Regardless, Street has done a good job closing for the Angels and definitely deserves this extension due to his performance.