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