Minnesota Twins Sign Phil Hughes to a Three-Year, $42 Million Extension

The Minnesota Twins and right-hander Phil Hughes have agreed to a three-year, $42 million contract extension, several sources reported.

According to ESPN.com, Hughes will earn $9.2 million over the next two seasons. His base salary will increase to $13.2 million from 2017-19. The deal included a limited no-trade clause and $1 million in bonuses. Hughes will earn a $200,000 bonus when he reaches 200 innings.

Hughes' previous contract, which had two years and $16 million left, has been nullified. Due to the increases in his salary, Hughes' overall value totaled $58 million for five years, which is the largest pitching contract in the Twins' franchise history.

Hughes went 16-10 with an ERA of 3.52 during his first year with the Twins. He recorded 186 strikeouts with just 16 walks and set a new major league record for strike-out-to-walk ratio of 11.63. The previous ratio of 11.00 was set in 1994 by New York Mets Bret Saberhagen.

Hughes was the Yankees' 23rd overall pick in the 2004 draft. Hughes made the All-Star team as a starter in 2010. He finished that year with an 18-8 record and a 4.19 ERA. In his last season with the Yankees, Hughes went 4-14 with an ERA of 5.63 over 30 games, 29 of which were starts.

Hughes has a career record of 72-60 and an ERA of 4.33 with 842 strikeouts.