Athletics Sign Free Agent Pitcher Luis Severino to Richest Contract in Franchise History

Luis Severino, coming off a resurgent season with the New York Mets, cashed in on his success by signing a record-breaking deal with the Athletics following their exit from Oakland.

Sep 8, 2024; New York City, New York, USA; New York Mets starting pitcher Luis Severino (40) reacts after retiring the side in the fifth inning against the Cincinnati Reds at Citi Field. / Wendell Cruz-Imagn Images

The Athletics are in agreement on a multi-year deal with right-handed pitcher Luis Severino, ESPN's Jeff Passan was first to report Thursday.

Severino's deal will be worth $67 million over three years, making it the largest guaranteed contract in A's franchise history. The Athletics will also have to send a compensatory draft pick to the New York Mets, who extended Severino a qualifying offer in November.

Per Passan, Severino has a potential opt-out after the second season.

The 30-year-old right-hander went 11-7 with a 3.91 ERA, 1.242 WHIP, 161 strikeouts and a 1.6 WAR across 31 starts for the Mets in 2024. He then went 1-1 with a 3.24 ERA and 1.380 WHIP in the playoffs, helping New York make a surprise run to the NLCS in the process.

Severino was on a one-year, $13 million contract in New York, spending the previous nine seasons across town with the New York Yankees.

BREAKING: Right-hander Luis Severino and the A’s are in agreement on a three-year, $67 million contract, sources tell ESPN. It is the largest guarantee in the history of the A’s franchise. And even with the qualifying offer attached, Severino got well over market expectations.

— Jeff Passan (@JeffPassan) December 5, 2024

The Yankees made good use of Severino over the years, starting when he went 5-3 with a 2.89 ERA and 2.0 WAR as a rookie in 2015. He was named an All-Star in 2017 and 2018 – placing third and ninth in AL Cy Young voting, respectively.

Severino made just three starts in 2019 due to shoulder and lat injuries, and he missed all of 2020 after tearing the UCL in his right elbow. Tommy John surgery and an additional groin injury limited Severino to four relief innings in 2021 as well, and he only made 19 starts in 2022 thanks to another lat strain.

Despite all the injuries, Severino still went 42-18 with a 3.10 ERA, 1.064 WHIP and 10.5 strikeouts per nine innings between 2018 and 2022, averaging a 4.6 WAR per 162 games. He went 4-8 with a 6.65 ERA, 1.646 WHIP and -1.5 WAR in 2023, though, marking a disappointing end to his time with the Yankees.

But Severino proved he still had gas left in the tank with the Mets in 2024, impressing the Athletics enough to land a massive deal in free agency.

The A's, who just left Oakland behind after 57 years, already had JP Sears, Mitch Spence and Joey Estes etched into their rotation for 2025. Now that Severino has been added into the mix, J.T. Ginn and Osvaldo Bido have been left to compete for the fifth and final starting job.

For the next three years – the entire length of Severino's contract – the Athletics are set to play their home games at a Triple-A park in Sacramento. Once their stint there is done, they will complete their relocation to Las Vegas.

Playing at a sub-par venue in Sacramento may have scared away some free agents – including Walker Buehler – but Severino was apparently willing to make the move for the right price.

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