Justin Verlander and Tigers agree to $180 million contract

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Justin Verlander was eligible for free agency after the 2014 season, but the former MVP and the Tigers have agreed to a five-year contract extension that will keep him in Detroit through at least 2019.

Verlander was already under contract for $20 million this season and $20 million next season as part of a deal signed in December of 2010. This extension will begin in 2015 and includes a sixth-year option for 2020, which would be Verlander’s age-37 season.

According to Buster Olney of ESPN.com the total value of the deal if his existing 2013 and 2014 salaries are included is $180 million and the contract could be worth as much as $202 million if the 2020 option gets picked up. Which, if I’m doing the math correctly before official numbers are released, essentially means the five-year extension is worth $140 million or $28 million per season.

Huge, huge money, as $180 million tops Felix Hernandez’s short-lived record for pitchers of $175 million, although the stage is still set for Clayton Kershaw to become the first $200 million pitcher.

Verlander won the Cy Young and the MVP in 2011, finished runner-up for the Cy Young last season, and led the league in innings pitched in three of the past four years. During that four-year stretch of 2009-2012 he led all MLB pitchers in wins, starts, strikeouts, and Wins Above Replacement while ranking second in innings and fifth in both ERA and strikeout rate.

Massive long-term commitments to pitchers are awfully scary no matter the circumstances–with this week’s Johan Santana news providing the most recent cautionary tale–but no pitcher has been better or more durable than Verlander through age 29.

Marlins designate Derek Dietrich for assignment

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The Marlins designated utilityman Derek Dietrich for assignment, Clark Spencer of the Miami Herald reports. This comes amid a flurry of moves on Tuesday night as teams prepare their rosters ahead of the Rule 5 draft next month.

Dietrich, 29, is coming off another strong season in which he hit .265/.330/.421 with 16 home runs, 45 RBI, and 72 runs scored in 551 plate appearances. He played all over the diamond, spending most of his time in left field and at first base. Dietrich also played some second base, third base, and right field.

Dietrich is entering his third of four years of arbitration eligibility. He earned $2.9 million this past season and MLB Trade Rumors projects him to earn $4.8 million in 2019. Cutting Dietrich represents a bit more than 4 million in savings for the rebuilding and perennially small-market Marlins. Dietrich should draw some interest, so the Marlins could end up trading him rather soon.

Wonder how J.T. Realmuto, now the longest-tenured Marlin, is feeling right about now.