David Price, Boston Red Sox to 7-year contract worth $217 million

As the first big free agent target to fall for Major League Baseball this off-season, Price has secured himself a hefty contract from the Boston Red Sox, which will reportedly pay him $217 million over seven years, with a chance to opt-out after three.

The person spoke on condition of anonymity Tuesday night because the deal – the largest ever for a pitcher – is pending a physical.

The decision to sign David Price could have come under severe criticism had the Red Sox had any other good young pitcher in their squad. Price started last season pitching for the Tigers, but was traded to the Toronto Blue Jays midseason as part of their championship push.

Price went 18-5 in 2015, with an extremely impressive 9-1 record after he was traded to Toronto.

The Red Sox taking care of business by signing a legitimate ace that boosts a starting staff that placed 26th in runs allowed last season. Apparently, Price thought he was signed, sealed and bound for St. Louis but Boston had their sights set ln Price and threw in enough where he could not say no. This wil be the third AL East team that Price will pitch for.

Price’s best season may have been this past season. According to USAToday.com, Price will earn $30 million for each of those first three years, $31 million in 2019 and $32 million in each of the final three years.

As for the Yankees’ reaction to such a move, we’ll see whether they make a big splash in the coming weeks, but Price landing in Boston hardly comes as a surprise.

Only past year, the team refused to go higher than $135 million to sign Jon Lester, whom they had traded the previous July after lowballing him with a $70 million offer in spring training – less than half of what Lester received from the Chicago Cubs.

The Red Sox were also in negotiations with Greinke, according to a high-ranking team official who asked not to be identified due the sensitive nature of negotiations.

The reported deal would be the largest annual contract in history for a pitcher, topping Clayton Kershaw’s seven-year, $210 million package with the Los Angeles Dodgers. On the year, Price had a 2.45 ERA, the lowest of his career. The Boston Red Sox best know Price for his tenure with the Tampa Bay Rays, which lasted from 2008-2014 as Fan Graphs points out.