Nathan Eovaldi and the Texas Rangers have completed a $75 million, three-year contract that will keep him in their starting rotation.
Eovaldi, who was the winning pitcher for Texas in the 2023 World Series clinching game, was a key target for the Rangers this offseason. One of the team’s main goals was to re-sign him. The financial terms of the deal were agreed upon on Tuesday, pending a successful physical examination.
To make room for Eovaldi on the roster, right-handed pitcher Roansy Contreras was designated for assignment.
Eovaldi became a free agent on November 4 after he chose to decline a $20 million player option for the 2025 season. While the Rangers expected him to decline, they were eager to bring back the Texas native, who will turn 35 in February.
Eovaldi earned a $2 million buyout for that option after pitching more than 300 innings over his two years with the Rangers, following his move to the team as a free agent.
The terms of Eovaldi’s new contract include a $12 million signing bonus, with half of it paid on November 15, 2026, and the other half on January 15, 2028. His salaries for the next few seasons are $18 million in 2025, $25 million in 2026, and $20 million in 2027. He also has a full no-trade clause.
Eovaldi’s contract was finalized during the baseball winter meetings, the same day Max Fried agreed to an eight-year, $218 million deal with the New York Yankees, which became the largest contract ever given to a left-handed pitcher.
This leaves 2021 National League Cy Young Award winner and four-time All-Star Corbin Burnes as the top pitcher still available in free agency. Burnes had a 2.92 ERA with a 15-9 record in 32 starts for the Orioles in 2023.
Eovaldi will continue to be a part of the Texas rotation alongside two-time NL Cy Young Award winner Jacob deGrom, who made just three starts last season after missing nearly 17 months due to elbow surgery. The Rangers won all six of deGrom’s starts at the beginning of the 2023 season before he was injured in April.
Both Eovaldi and deGrom were acquired by the Rangers as free agents before the 2023 season. Eovaldi’s previous two-year deal was worth $34 million, including $16 million salaries each season, plus the buyout. DeGrom, now 36, signed a five-year deal worth $185 million.
Eovaldi played a big role in the Rangers’ World Series win in 2023, going 5-0 with a 2.95 ERA in six postseason starts, including the victory in Game 5 of the World Series against Arizona. He was also part of the Boston Red Sox team that won the 2018 World Series.
In the past two seasons, Eovaldi went 24-13 with a 3.72 ERA in 54 starts, collecting 298 strikeouts in 314 2/3 innings. He had a 12-8 record with a 3.80 ERA in 29 starts in 2023. Eovaldi finished the season strong by throwing seven scoreless innings against the Los Angeles Angels, helping the Rangers secure the season’s final win.
This will be Eovaldi’s sixth team in his career. He is 91-81 with a 4.07 ERA in 294 career games (275 starts) since his MLB debut in 2011 with the Los Angeles Dodgers. Besides the Rangers and Red Sox, he has also played for Miami, the New York Yankees, and Tampa Bay.
Contreras, 25, was claimed off waivers from the Los Angeles Angels on October 31. He posted a 2-4 record with a 4.35 ERA, two saves, 46 relief appearances, and three starts with the Angels and Pittsburgh Pirates last season.
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