AP source: Severino, Yanks agree to $40M, 4-year contract

A person familiar with the negotiations tells The Associated Press that right-hander Luis Severino avoided an arbitration hearing with the New York Yankees, agreeing to a $40 million, four-year contract.

Severino's deal includes a team option for 2023 that could make the deal worth $52.25 million for five seasons. If the option is not exercised, Severino would be eligible for free agency after the 2022 season.

The person spoke Friday on condition of anonymity because the agreement is subject to a successful physical.

Severino gets a $2 million signing bonus, $4 million in 2019, $10 million in 2020 and $10.5 million in 2021 and $11 million in 2022. The team option is for $15 million with a $2.75 million buyout.

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