Rays sign Jeffrey Springs to 4-year, $31M contract
Published in Baseball
ST. PETERSBURG, Fla. — Jeffrey Springs had an impressive season for the Rays in 2022, transitioning from reliever to key starter.
Wednesday, the left-hander was rewarded for that performance, and future projections, signing a four-year, $31 million contract that covers the 2023-26 seasons. With a 2027 option, innings-pitched incentives, bonuses and escalator clauses based on Cy Young Award voting, the deal could be worth up to $65.75 million over five years.
Springs, 30, moved into the Rays rotation in early May and adapted quickly to the starting role, going 8-5 with a 2.66 ERA, 133 strikeouts and 28 walks in 125 innings over 25 games.
He will make $4 million this season, an increase over the $3.55 million he sought in arbitration, with the Rays offering $2.7 million. He will make $5.25 million in 2024, then $10.5 million in 2025, when he would have been eligible for free agency, and again in 2026.
The Rays hold a $15 million option for 2027, or can pay a $750,000 buyout.
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