Boston Red Sox, David Price Agree to Massive $217 Million Deal

The Boston Red Sox have successfully signed ace David Price and it was not cheap at all.

Several media insiders have confirmed that the Red Sox and Price agreed to a $217 million dollar deal that spans seven years. According to Ken Rosenthal, the starting pitcher has an opt-out clause that he can use after three seasons.

The 30-year-old left-hander's yearly salary for the first three seasons will be $30 million. In 2019, his salary will go up to $31 million if he stays in Boston. For the remaining years between 2020 and 2022, he will be paid $32 million.

Price was offered a deal from the St. Louis Cardinals. That deal was the highest that the Cardinals have ever offered in their franchise history but was $30 million less than the Red Sox's deal.

The deal broke the pitching record set by Clayton Kershaw and will most likely remain the largest pitching deal for at least this winter. Kershaw signed an extension with the Los Angeles Dodgers in 2014 that was worth $215 million.

Free agent Zack Greinke will also get a massive pitching deal that is not expected to surpass $217 million. He is reportedly deciding between the Dodgers and the San Francisco Giants.

Price had a stellar 2015 season with the Detroit Tigers and the Toronto Blue Jays. He pitched a total 220 1/3 innings with a 2.45 ERA and an 18-5 record. He has pitched at least 200 innings over the past six seasons.

Price is an AL CY Young award winner and a five-time All-Star.

Even though Price came at a very hefty price, the Red Sox are in need of a reliable ace. The team, who finished 78-84 last season, went though 12 different starters, none of whom ever reached 200 innings pitched.

Price will be introduced as a Red Sox during press conference in Boston this Friday.