CC Sabathia Extends Contract with the Yankees

November 1, 2011 on 12:58 pm | In Baseball | Comments Off

Left-hander C.C. Sabathia has agreed to a one-year contract extension with the New York Yankees for an additional $25 million in 2016. Surprisingly, the buck doesn’t stop there. In 2017, Sabathia could rake in another $25 million option with a $5 million buyout. His original contract, which slated to pay the pitcher $23 million over the next four years, was up in 2015. Instead of the $92 million left on his 7 year contract, he’s now guaranteed $122 million with the extension. According to the New York Post, Sabathia’s new contract represents the highest average annual value for a pitcher on a multiyear deal at $24.4 million, topping Cliff Lee‘s $24 million average. Sabathia had until midnight on Monday to sign the new deal before becoming a free agent. The Yankees stepped up to the plate and never allowed Sabathia’s free agency to come to play. It’s obvious Sabathia has contributed greatly to the success of the franchise. He’s an ace for the team and it’s a move the Yankees had to make.