The Cleveland Indians and right-hander Corey Kluber have agreed to a five-year extension that includes two club options, Jon Heyman of CBS Sports confirmed.
Kluber's deal is worth a guaranteed $38.5 million, but with escalators and performance enhancements, he can make up to $77 million over the life of the deal, per reports.
Kluber is the reigning AL Cy Young award winner after going 18-9 with a 2.44 ERA, 2.35 FIP, and 152 ERA+ in 235.2 innings pitched over 34 starts last season. He struck out 269 batters as compared to 51 walks, good for a 5.27 strikeout-to-walk ratio.
Those numbers were very uncharacteristic for the 28-year-old Kluber, who is now considered a late-bloomer. After making a mechanical adjustment in adding a sinker a few years ago, he saw his numbers greatly improve in 2013 and then have a fantastic season in 2014.
With just over two full seasons of Major League service time, this extension will buyout Kluber's last pre-arbitration season next year, his three arbitration seasons, and one free agent year. The two options could give the Indians control of Kluber's first three free agent seasons. If all options are picked up, Kluber will be in a Cleveland uniform through his age-35 season. If they don't, they will still have him in control through his age-33 season.
Considering that Kluber is that late bloomer that was mentioned, he may not get a huge contract as a free agent. Even still, after having a solid year in 2013, and an excellent season this past year, he'll get some job security, which makes this a great deal for him. On the contrary, the Indians cannot be unhappy about a possible seven seasons of control of the reigning Cy Young award winner. Both sides must be very happy about this contract. Kluber's agent, BB Abbott of Jet Sports Management, did a very nice job.