White Sox Re-Sign Peavy, Floyd

By Benjy Lipsman in News on Oct 31, 2012 2:30PM

On the same day he won a Gold Glove, Jake Peavy picked up a lot of loot as well. The White Sox pitcher reached an agreement with the club on a two-year, $29 million extension that will keep Peavy on the South Side through at least 2014.

Under the terms of the new deal, Peavy will get $29 million over the next two seasons, and a player option at $15 million for 2015 should he hit certain innings thresholds. Under Peavy's old deal, the White Sox held a $22 million option for 2013 under his previous contract, which stipulated a $4 million buyout. The $4 million buyout money will be paid between 2016 and 2019.

"I never wanted to play any games with my desire to stay in Chicago," a delighted Peavy told reporters during a Tuesday conference call. A far cry from when he initially rejected a trade to the White Sox earlier in 2009, while angling for a trade to the Cubs.

Peavy remained healthy for the entire 2012 season, compiling a 11-12 record, but with a 3.37 ERA and 194 strikeouts. Lack of run support surely cost Peavy a few wins during the year. His 219 innings (in 32 starts) were the most of any Sox starting pitcher.

The former Cy Young winner joined the White Sox in 2009, traded from the Padres while injured. He only made three appearances in '09, missed half of both 2010 and 2011 with injuries before returning to health in 2012.

Joining Peavy in the White Sox rotation next season will be Gavin Floyd, who had his team option picked up on Tuesday. The 29-year-old righty will make $9.5 million in 2013, after going 12-11 with a 4.29 ERA in 29 starts. Before his brief stint on the DL, he'd made 30 or more starts in four consecutive years for the Sox.

With Peavy, Floyd, John Danks, Chris Sale, Jose Quintana and Hector Santiago, the White Sox appear stacked when it comes to starting pitching in 2013.

The White Sox declined to pick up options on two other potential free agents, third baseman Kevin Youkilis and relief pitcher Brett Myers. Each was picked up by Kenny Williams during the season to fill holes on the roster. Youk immediately became a fan favorite after taking over at third base, while Myers provided some veteran experience to a very green bullpen. Youkilis had an option at $13 million, while Myers was $10 million. There was no way that new GM Rick Hahn was going to add that kind of payroll for them, but we'd love to see Youk return for less money.