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White Sox re-sign Jake Peavy for two-year, $29 million contract

It was good day for Sox starter Jake Peavy. He signed two-year contract extensiwhis first Gold Glove. | Carlos Osorio~AP

It was a good day for Sox starter Jake Peavy. He signed a two-year contract extension and won his first Gold Glove. | Carlos Osorio~AP

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Updated: December 1, 2012 4:49PM



It took Rick Hahn four days on the job to make a big splash. The White Sox new general manager re-signed right-hander Jake Peavy to a two-year, $29 million extension and picked up the $9.5 million option on Gavin Floyd on Tuesday, solidifying the right-handed side of his rotation for 2013.

Peavy will receive $14.5 million in each of the next two seasons, with performance incentives that would extend his contract through 2015 for another $15 million. The $4 million buyout for Peavy’s $22 million club option for 2013 will be paid from 2016 to ’19, softening the payroll blow for next season and making the deal possible, Hahn said.

Later, Peavy was awarded his first Gold Glove, sharing the honor with the Tampa Bay Rays’ Jeremy Hellickson.

The bigger factor was Peavy’s desire to return. In a thin free-agent market for pitchers, Peavy likely could have signed for more money and an extra year elsewhere.

‘‘I’m really excited to come back to Chicago and build on what we did last year,’’ Peavy said. ‘‘I made no secret of the fact that this is where I want to play. Chicago is a great city with great fans, and I can’t think of a better place to try and win a championship. With the guys we have coming back, I think we have a great opportunity to accomplish some special things.’’

Peavy said the fan support he received through his injury-plagued years, clubhouse camaraderie and the style of manager Robin Ventura and the coaching staff were factors in his desire to return.

‘‘I love what we’re building in Chicago,’’ Peavy said.

Hahn said talks began ‘‘the first Monday after the season and picked up steam in the last 72 hours.’’

‘‘Jake Peavy showed again last season why he is capable of being one of the top pitchers in the American League,’’ Hahn said. ‘‘We’re happy to reach a deal that keeps him at the top end of our rotation and his influence in our clubhouse for at least the next two years.’’

The 31-year-old former Cy Young winner went 11-12 last season with a 3.37 ERA and 194 strikeouts in 219 innings. He made 32 starts and had four complete games.

The Sox declined the 2013 options for right-hander Brett Myers ($10 million) and third baseman Kevin Youkilis ($13 million). Myers receives a $3 million buyout and Youkilis a $1 million buyout. Hahn spoke to both players Monday. The Sox hold their exclusive negotiating rights through Friday.

‘‘We’d like to have both of them back,’’ Hahn said.

The same goes for catcher A.J. Pierzynski, who can begin receiving offers from other teams Friday.

‘‘Nobody has meant more to Chicago in a White Sox uniform,’’ Peavy said. ‘‘He’s been a tremendous player. We wish him the best in free agency. If it doesn’t happen, that’s something we can’t control. But everybody thinks the world of Tyler Flowers as a catcher. If his number’s called, he can be the leader you have to have at that position.’’

Floyd, 29, was 12-11 with a 4.29 ERA and 144 strikeouts in 29 starts last season. He reached double figures in victories for the fifth consecutive season, joining James Shields, Justin Verlander and Jered Weaver as the only AL pitchers to do so.



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