C.C. Sabathia signs extension with the New York Yankees

C.C. Sabathia, who was supposedly going to opt out of his contract with the New York Yankees today, instead has signed an extension with the team.

Per Buster Olney, Sabathia has agreed to a one year extension (for the 2016 season) at $25 million, with a $25 million team option for 2017 that has a $5 million buyout. The extension thus guarantees him at least $30 million for one extra year, and could be $50 million for two. Depending on whether the Yankees exercise the option or not, they are now on the hook for $122 million over five years or $142 million over six years.

Sabathia was expected to opt out, be the #1 free agent pitcher this offseason, and re-sign with the Yankees, in that order. The Yanks and Sabathia apparently decided to cut to the choose and forego the opt-out/pretend to be considering leaving drama.