The ace of the Minnesota Twins' starting rotation has reportedly agreed to a three-year, $42 million contract extension, the New York Daily News reported early Monday morning.
After 10 up-and-down seasons with the Yankees, Hughes resurrected his career last season with the Twins, going 16-12 with a 3.52 ERA while setting an MLB record with an 11.62 strikeout-to-walk ratio. In easier to understand language, the right-hander struck out 182 batters while walking only 16.
The new deal will pay him approximately $9.2 million in 2015 and 2016, and $13.2 million each season from 2017-2019. Hughes still had $16 million remaining on the initial deal he signed with the Twins, so the total length and value of his remaining contract is five years and $58 million.
According to Hardball Talk, the contract includes a $1.2 million raise in each of the next two seasons (from $8 million to $9.2 million).
The Yankees drafted Hughes with the 23rd pick in the 2004 MLB Draft. He was an All-Star in 2010, going 18-8 with a 4.12 ERA. After a rough 2011 campaign he was better in 2012, only to finish his Yankee career in 2013 with a brutal 4-14 record and a 5.63 ERA.
Minnesota's projected starting rotation next season will feature: Hughes, newly signed right-hander Ervin Santana, Ricky Nolasco, Kyle Gibson and a fifth starter of either Tommy Millone, Mike Pelfrey, Trevor May or Alex Meyer.