Phillies agree to one-year, $2.5 million contract with left-hander John Lannan

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UPDATE: CBS Sports’ Jon Heyman reports that it’s a one-year deal with a $2.5 million base salary. He could make an additional $2.5 million in performance incentives. Given what we’ve seen in this market, this is a pretty nice deal for the Phillies.

10:50 AM: John Lannan was non-tendered by the Nationals last month, but he’s sticking around in the National League East.

Jim Salisbury of CSNPhilly.com reports that the Phillies have agreed to a contract with Lannan, pending a physical. No word yet on the terms involved.

Lannan was the odd man out in the Nationals’ rotation this past season, as he spent most of the year in the minors, but he posted a 4.13 ERA and 17/14 K/BB ratio over 32 2/3 innings in six starts with the big club. The 28-year-old southpaw owns a 4.01 ERA over six seasons in the majors.

The Phillies had a need for another starter after trading Vance Worley in the Ben Revere deal, so Lannan fits the bill. He’s set to join a rotation which projects to include Roy Halladay, Cole Hamels, Cliff Lee and Kyle Kendrick.

Rays’ Díaz gets $24 million, three-year deal, avoids arbitration

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ST. PETERSBURG, Fla. – Tampa Bay Rays infielder Yandy Díaz agreed to a $24 million, three-year contract on Tuesday that avoided a salary arbitration hearing.

Díaz’s agreement could be worth $36 million over four seasons.

The 31-year old will receive $6 million this season, $8 million in 2024 and $10 million for 2025. The 2026 club is $12 million with no buyout. There is a $1 million assignment bonus that would be payable by receiving team.

Díaz has spent parts of six seasons in the majors with Cleveland (2017-18) and Tampa Bay (2019-22). He has a career average of .278 with 39 home runs and 198 RBIs.

Acquired by the Rays in a three-team trade on Dec. 13, 2018, Díaz hit .296 with nine homers and 57 RBIs in 137 games last season, He career highs with 71 runs, 140 hits, 33 doubles, and 78 walks.

Díaz was the third Rays’ arbitration-eligible player to reach a deal.

Reliever Pete Fairbanks agreed Friday to a $12 million, three-year contract that could be worth up to $24.6 million over four seasons. The 29-year-old right-hander was 0-0 with a 1.13 ERA in 24 appearances last year after beginning the season on the 60-day injured list with a right lat strain.

Left-hander Jeffrey Springs also agreed last week to a $31 million, four-year contract that could be worth $65.75 million over five seasons.

The 30-year-old began last season in the bullpen and transitioned to the starting rotation in May and finished 9-5 with a 2.46 ERA in 33 appearances, including 25 starts.

Tampa Bay remains scheduled for hearings with right-handers Jason Adam and Ryan Thompson, left-hander Colin Poche, and outfielder Harold Ramírez.