Details of John Danks’ five-year, $65 million extension with White Sox

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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+.

Buster Posey likely to undergo season-ending hip surgery

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Giants catcher Buster Posey will likely undergo season-ending surgery on his ailing right hip, which has bothered him since May, John Shea of the San Francisco Chronicle reports. Executive VP of baseball operations Brian Sabean said it’s a “safe assumption” that Posey will go under the knife. The procedure would clean out bone spurs and address the labrum, which is the soft tissue around the hip socket.

Posey didn’t start Sunday’s game and went 1-for-6 on Monday against the Mets. He’s batting .286/.360/.386 with five home runs and 40 RBI in 439 plate appearances this season. It will go down as his least productive season among those in which he has appeared in 100 games.

Nick Hundley would take over full-time catching duties if Posey were to have his season cut short. Hundley has performed decently, hitting .247/.296/.452 with nine homers and 30 RBI in 199 PA.