Report: Astros sign Jose Altuve to contract extension

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The Astros have successfully locked up a potential long-term building block, as Brian McTaggart of MLB.com reports that they have agreed to a contract extension with second baseman Jose Altuve. This marks the first major contract commitment under the leadership of general manager Jeff Luhnow, who was hired in December of 2011.

No word yet on the financial details, but the deal is expected to be announced later today. Altuve wasn’t due to become arbitration-eligible for the first time until after the 2014 season. McTaggart speculates that the extension will at least cover his arbitration years, though it’s possible the Astros also bought out a free agent year or two.

Altuve was promoted to the majors in July of 2011 and owns a .284/.325/.377 batting line through 290 career games. The 23-year-old represented the Astros in the All-Star Game last year.

UPDATE: CBS Sports’ Jon Heyman reports that Altuve will receive a five-year deal with an option. This means the Astros bought out his final pre-arbitration season, all three of his arbitration seasons, and at least one year of free agency.

UPDATE II: Heyman is now reporting that it’s a four-year deal (covering his final pre-arbitration season and all three of his arbitration seasons) with two option years. Altuve will receive $12.5 million guaranteed. Even though he doesn’t fall under the category of a star, that’s a very reasonable contract.

RHP Fairbanks, Rays agree to 3-year, $12 million contract

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Dave Nelson/USA TODAY Sports
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ST. PETERSBURG, Fla. — Reliever Pete Fairbanks and the Tampa Bay Rays avoided arbitration when they agreed Friday to a three-year, $12 million contract that could be worth up to $24.6 million over four seasons.

The deal includes salaries of $3,666,666 this year and $3,666,667 in each of the next two seasons. The Rays have a $7 million option for 2026 with a $1 million buyout.

His 2024 and 2025 salaries could increase by $300,000 each based on games finished in the previous season: $150,000 each for 35 and 40.

Tampa Bay’s option price could increase by up to $6 million, including $4 million for appearances: $1 million each for 60 and 70 in 2025; $500,000 for 125 from 2023-25 and $1 million each for 135, 150 and 165 from 2023-25. The option price could increase by $2 million for games finished in 2025: $500,000 each for 25, 30, 35 and 40.

Fairbanks also has a $500,000 award bonus for winning the Hoffman/Rivera reliever of the year award and $200,000 for finishing second or third.

The 29-year-old right-hander is 11-10 with a 2.98 ERA and 15 saves in 111 appearances, with all but two of the outings coming out of the bullpen since being acquired by the Rays from the Texas Rangers in July 2019.

Fairbanks 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.

Fairbanks made his 2022 debut on July 17 and tied for the team lead with eight saves despite being sidelined more than three months. In addition, he is 0-0 with a 3.60 ERA in 12 career postseason appearances, all with Tampa Bay.

He had asked for a raise from $714,400 to $1.9 million when proposed arbitration salaries were exchanged Jan. 13, and the Rays had offered for $1.5 million.

Fairbanks’ agreement was announced two days after left-hander Jeffrey Springs agreed to a $31 million, four-year contract with Tampa Bay that could be worth $65.75 million over five seasons.

Tampa Bay remains scheduled for hearings with right-handers Jason Adam and Ryan Thompson, left-hander Colin Poche, third baseman Yandy Diaz and outfielder Harold Ramirez.