Blake Snell, Rays agree to $50 million, 5-year contract

PORT CHARLOTTE, Fla. (AP) — AL Cy Young Award winner Blake Snell and the Tampa Bay Rays have agreed to a $50 million, five-year contract that covers three seasons of arbitration eligibility plus two years after he could have become a free agent.

The team announced the deal Thursday, less than two weeks after renewing the left-hander’s contract at a salary of $573,700 for the upcoming season. That would have been a raise of just $15,500 from 2018, when he led the league with 21 wins.

His new deal includes a $3 million signing bonus and a raise to $1 million for this season. He gets $7 million in 2020, $10.5 million in 2021, $12.5 million in 2022 and $16 million in 2023.

The 26-year-old went 21-5 with a 1.89 ERA last year, setting franchise records for wins and ERA.