Originally written October 30, 2012 on The Outside Corner:
There goes one free agent pitcher off the market: the Chicago White Sox and Jake Peavy have agreed to a two year extension that will pay Peavy $29 million over the two years. The deal also has an option for the 2015 season. Peavy made $17 million last season, and Chicago declined a $22 million club option on him for 2013. According to MLBTR, Peavy will make $14.5 million in each of 2013 and 2014. His option year for 2015 will morph into a player option based on innings pitched over the two seasons of the deal. In the Free Agent Preview I wrote up for the White Sox yesterday, I mentioned they'd likely be in the hunt for a pair of starting pitchers after declining Peavy's option and the impending free agency of Francisco Liriano. After this extension for Peavy, they're now just looking for one starter, and that might not even be a sure thing depending on the return of John Danks from shoulder surgery this summer. Last season, Peavy had a 3.37 ERA in 219 innings...
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