BOSTON — Martin Perez and Boston finalized a one-year contract that guarantees $6.5 million, a deal that would be worth $14.5 million over two seasons if the Red Sox exercise a 2021 option and the 28-year-old left-hander regularly starts.
Perez is in position to fill the rotation spot that opened when former AL Cy Young Award winner Rick Porcello left to sign with the New York Mets.
The deal announced Thursday includes a $6 million salary for next year and gives Boston a $6.25 million team option for 2021 with a $500,000 buyout.
He can earn $250,000 in performance bonuses next year for innings: $50,000 each for 130 and each additional 10 through 170.
His option price could escalate by up to $1 million based on innings in 2020: $150,000 each for 130, 140, 150, 160 and 170, and $250,000 for 180. If the option is exercised, he could earn bonuses in 2021 at the same amounts and innings as in the escalator.
Perez was 10-7 with a 5.12 ERA for Minnesota last season after spending his first seven big league seasons with Texas. He is 53-56 with a 4.72 ERA in 157 starts and 16 relief appearances. His lone post-season appearance was in 2015, when he started and lost Game 3 of the Division Series against Toronto.
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