The Red Sox made it official Wednesday, announcing a 10-year contract extension for third baseman Rafael Devers.
Eagle-eyed fans might notice that is different than initial reports last week indicating the two sides had come to terms on an 11-year pact. However, this isn’t the result of some last-minute maneuver that knocked a year off the agreement, and the Red Sox in a press release made sure to mention Devers is signed through the 2034 season.
In reality, the extension itself doesn’t kick in until the 2024 season, as Devers has one more season left on his first deal. He’ll earn a reported $17.5 million, a figure agreed to by both Devers and the club, as they found common ground to avoid arbitration shortly before coming to terms on the extension.
The Boston Globe’s Alex Speier was able to uncover this tidbit late Tuesday night, reporting Devers’ extension is actually 10 years for $313.5 million. According to Speier, Devers’ average annual value (AAV) — the number that counts toward the luxury tax — will be in the neighborhood of $29 million. But, as MassLive.com’s Chris Cotillo also noted, the one-year deal for 2023 will only count as $17.5 million toward the luxury tax.
That financial freedom, assuming the Red Sox are operating with the luxury tax in mind, looks even more valuable now. Boston is facing the possibility that it could be without shortstop Trevor Story for the entire season after he underwent elbow surgery. That leaves the Red Sox without much of a middle infield at the moment, something chief baseball officer Chaim Bloom must address before the season begins. The most likely avenues to do that are through free agency or trade, as there’s a lack of internal candidates.
The Red Sox have a press conference set for Wednesday morning at 11 a.m. ET to formally announce the Devers extension, and you can watch it on NESN.
