Barnes guaranteed $18.75M by Red Sox for 2022-23

Darren Yamashita-USA TODAY Sports

All-Star closer Matt Barnes is guaranteed $18.75 million as part of his new contract with the Boston Red Sox covering 2022 and 2023.

Barnes has a $4.5 million salary this season and would have been eligible for free agency after the World Series.

He gets a $1.75 million signing bonus, payable this July 31, as part of the deal announced Sunday, and salaries of $7.25 million next season and $7.5 million in 2023. The Red Sox have an $8 million option for 2024 with a $2.25 million buyout.

His 2024 salary could increase to $9 million based on games finished in 2022 and 2023: $250,000 each for 40, 45, 50 and 55.

In addition, if he is traded before the fifth day after the 2023 World Series, the option price would increase by $1 million and the buyout by $500,000.

Barnes will contribute 1% of his earnings each year to the Red Sox Foundation or continue to host an annual charity event with the foundation.

The 31-year-old is 4-2 with a 2.68 ERA and has 19 saves in 23 chances this season. He is a first-time All-Star, among five Boston players picked for Tuesday’s game.

Barnes has spent his entire career with Boston, which selected him No. 19 overall in the 2011 amateur draft from UConn.