Chris Archer, Rays Reach Agreement on Extension

The Tampa Bay Rays and right-hander Chris Archer have reached an agreement on a six-year deal with two option years worth $25.5 million, according to Ken Rosenthal of Fox Sports. The Rays said that the deal guarantees Archer $25.5 million over the six years, and has the potential to reach a maximum value of $43.75 million and would begin this season, which would mean it would run through 2019, and it will include team options for the 2020 and 2021 seasons.

Archer, 25 came to the Rays from the Chicago Cubs in 2011 in a deal that sent right-hander Matt Garza to the Cubs. That deal also included outfielders Brandon Guyer and Sam Fuld, shortstop Hak-Ju Lee and catcher Robinson Chirino and has a 3.47 ERA in 29 career appearances.

Archer was 9-7 with a 3.22 ERA and 101 strikeouts for the Rays during the 2013 season and was third in AL Rookie of the Year balloting.

“This is the first team I’ve every really played for that really believed in me,” Archer said. “The willingness from the Rays to offer such a contract for somebody with under a year of service time is remarkable, and it was something I definitely couldn’t say no to.”

Essentially the deal buys out Archer’s arbitration years and his first free agent year and that is before the club options. The team signed Matt Moore to a similar deal in 2011 that potentially could pay him $40 million.

Alex Cobb would likely be in line for the next deal among the Rays pitching staff.