Angels sign Jered Weaver to five-year, $85 million extension

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The Angels have called a Tuesday press conference to announce the signing of ace Jered Weaver to a five-year, $85 million contract extension.

SI.com’s Jon Heyman had the dollar amount.  Yahoo! Sports’ Tim Brown reports that the deal contains a full no-trade clause.

Weaver is making $7.37 million this year after losing in arbitration back in February.  He had one year of arbitration left, so the new deal, which averages $17 million per season, buys out four years of free agency.

The deal matches up nicely with the similar pacts Felix Hernandez and Justin Verlander signed prior to the 2010 season.  Both were two years away from free agency then.  Hernandez signed for $78 million over five years, while Verlander got $80 million for five years.  Weaver receives a little more in part because his contract buys out the extra year of free agency.

At 14-6 with a league-leading 2.10 ERA in 26 starts, Weaver is a top contender for AL Cy Young honors this season.  He’s 78-45 with a 3.30 ERA since debuting in 2006.

Gallegos agrees to $11M, 2-year contract with Cardinals

Atlanta Braves v St. Louis Cardinals
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ST. LOUIS – Reliever Giovanny Gallegos and the St. Louis Cardinals agreed Monday to an $11 million, two-year contract, a deal that includes a club option for 2025 and escalators that could make it worth $20.5 million over three seasons.

The 31-year-old right-hander is 3-5 with a 2.91 ERA and 14 saves in 20 chances this season. He has 72 strikeouts and 15 walks in 58 2/3 innings.

“I feel so happy,” Gallegos said Monday before the Cardinals played the Pirates in Pittsburgh. “I don’t have the word for exactly how I’m feeling.”

He was obtained from the Yankees in July 2018 along with left-hander Chasen Shreve in the trade that sent first baseman Luke Voit to New York. Gallegos is 14-15 with a 3.02 ERA and 34 saves in six major league seasons.

Gallegos gets a $500,000 signing bonus and salaries of $4.5 million next year and $5.5 million in 2024. St. Louis has a $6.5 million team option for 2025 with a $500,000 buyout.

His 2025 option price can increase by up to $3.5 million for games finished in 2024: $500,000 each for 20-25 and 26-30 and 31-35, and $1 million apiece for 36-40 and 41 or more.

He would get $250,000 for winning the Rivera/Hoffman reliever of the year award, $50,000 for All-Star selection and World Series MVP and $25,000 for League Championship Series MVP.

Gallegos has a $2.41 million salary this year.

He was eligible for salary arbitration and is potentially eligible for free agency after the 2024 season.