John Danks’ five-year, $65 million contract extension with the White Sox was reported last week and became official today.
Danks will get $8 million in 2012 and then $14.25 million per season from 2013-2016.
If not for the extension Danks would be heading into his final season of arbitration eligibility after earning $6 million in 2011, so the White Sox likely end up saving a little bit of money for 2012 and then essentially buy out his first four seasons of free agency for $57 million.
Danks certainly isn’t an elite pitcher, but the 26-year-old left-hander in the second tier of top-notch No. 2 starters and borderline No. 1 guys, posting ERAs of 3.32, 3.77, 3.72, and 4.33 during the past four seasons while calling a hitter-friendly ballpark home in the American League.
Among all the pitchers to start at least 100 games from 2008-2011 he ranks 23rd in ERA and 17th in adjusted ERA+.