UPDATE: Dodgers finalize contract extension with Chad Billingsley

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UPDATE: The deal is done. And as expected, he’ll receive three years and an option for 2015.

According to Dylan Hernandez of the Los Angeles Times, Billingsley will be guaranteed at least $35 million from 2012-2014. If the Dodgers exercise the option for 2015, he could make as much as $46 million.

Billingsley will earn $9 million in 2012, $11 million in 2013, $12 million in 2014 and either a $14 million club option for 2015 or a $3 million buyout.

Monday, 8:00 PM: According to Jim Peltz of the Los Angeles Times, the Dodgers and Chad Billingsley have reached a tentative agreement on a three-year contract extension valued at more than $30 million.

Details aren’t yet available, but multiple sources tell Tony Jackson of ESPN Los Angeles that the deal will cover 2012-2014 with a possible option for 2015. If true, the contract would buy out his final year of arbitration and his first two years of free agency. Billingsley and the Dodgers avoided arbitration by agreeing to a one-year, $6.275 million contract in January.

Billingsley, 26, is 59-41 with a 3.55 ERA over his first five major league seasons, averaging 8.2 K/9 and 3.9 BB/9. The former 2003 first-round pick went 12-11 with a 3.57 ERA over 31 starts last season.

UPDATE: Dylan Hernandez of the Los Angeles Times reports that the contract is worth $35-36 million, including the buyout of the option year. He adds that the salary for the option year is still being negotiated.

Red Sox trade Roenis Elias back to the Mariners

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The Boston Red Sox announced this afternoon that they’ve traded lefty Roenis Elias to the Seattle Mariners for a player to be named later or cash.

Boston had acquired Elias in the same trade that netted them reliever Carson Smith in exchange for Wade Miley and Jonathan Aro back in December of 2015. Since that time Elias has not been a part of the Red Sox’ plans, pitching in just four big league games — eight innings total — in all of 2016 and 2017 and not making an appearance for the big club this season. He was pretty solid for Pawtucket in 2016 but 2017 was largely lost to injuries.

Now he’s headed back to Seattle where, once upon a time, Elias posted a 3.85 ERA in 29 starts as a rookie for the Mariners.