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Yankees, Severino agree on 4 years, $40M

(AP Photo/Lynne Sladky)

NEW YORK (AP) Right-hander Luis Severino avoided an arbitration hearing with the New York Yankees, agreeing Friday to a $40 million, four-year contract.

Severino's deal includes a team option for 2023 that could make the agreement worth $52.25 million for five seasons. If the option is not exercised, Severino would be eligible for free agency after the 2022 season.

Severino gets a $2 million signing bonus, $4 million in 2019, $10 million in 2020, $10.5 million in 2021 and $11 million in 2022. The team option is for $15 million with a $2.75 million buyout.

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