One of the biggest names in free agency is off the board as the Red Sox and ace David Price have agreed to a seven-year, $217 million contract, according to The Boston Globe. The deal is pending a physical.
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The $31 million average annual value (AAV) of Price's deal will match Miguel Cabrera's for the largest in baseball. It also will be the largest AAV for a pitcher, surpassing the $30.7 million average of Clayton Kershaw's contract.
Price can opt out of the deal after three seasons, Fox Sports reports.
USA Today reported Tuesday that the Red Sox outbid the Cardinals, who were close to signing Price to a seven-year contract for about $30 million less than Boston offered.
The 30-year old southpaw owns a career 3.09 ERA and was the 2012 AL Cy Young winner. Over his last four seasons, Price has complied an average of 213 strikeouts in 217 innings.
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Price finished second in AL Cy Young Award voting in 2015 after going 18-5 with a 2.45 ERA, a 1.08 WHIP and a 225:47 K:BB ratio in 220 1/3 innings with the Tigers and Blue Jays.
Price, a five-time All-Star, will be the ace of a Red Sox rotation that currently features Clay Buchholz, Rick Porcello, Wade Miley, Eduardo Rodriguez and Joe Kelly.
It’s the second big move for the Red Sox, who traded prospects to the Padres for four-time All-Star closer Craig Kimbrel earlier this offseason.
The move marks a reunion between Boston president of baseball operations Dave Dombrowski and Price. The two spent nearly a year together in Detroit. Dombrowski also was the Tigers executive who signed Cabrera to his deal in March 2014.
Sporting News Media's Tom Gatto contributed to this report.