Rays to extend Blake Snell on $50 million deal

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The Rays have reached an agreement on a five-year, $50M contract with reigning Cy Young winner Blake Snell, Jeff Passan of ESPN reports (on Twitter). There are no options included on the contract, which will buy out all of Snell’s arbitration seasons and what would have been his first free-agent year. Joel Sherman of the New York Post tweets that Snell’s deal does not include a no-trade clause. Snell is represented by Sosnick, Cobbe & Karon. The Rays have formally announced the contract as well as the terms of the deal. Snell can earn an additional $2MM via incentives, per the team. Marc Topkin of the Tampa Bay Times reports the yearly breakdown (Twitter link). Snell will be paid a $3M signing bonus and earn $1M in 2019. He’ll then be paid salaries of $7M, $10.5M, $12.5M and $16M in the subsequent four seasons. That $16M salary in 2023 can increase by up to $2M based on his placement in the Cy Young race. Snell, 26, will receive the largest contract ever guaranteed to a pitcher with between two and thre

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