John Danks' Contract Terms Disclosed

Last Wednesday, it was reported the Chicago White Sox and southpaw John Danks agreed to a five-year, $65 million contract extension. Today, the White Sox announced the contract extension via Twitter, and it is indeed a five-year, $65 million contract.

Danks, 26, was in his final year of arbitration eligibility this offseason, but instead he'll be looking at $65 million guaranteed for the next five years. In a press release, the White Sox announced Danks will receive $8 million in 2012 and $14.25 million in each of the 2013-16 seasons.

In addition to the money, Danks will hold a no-trade clause for 2012 - giving him the ability to veto any trade to any team - and a limited no-trade clause from 2013-2016, according to MLB.com's Scott Merkin.

White Sox general manager Kenny Williams shopped John Danks, but couldn't find the return he wanted. Williams also added the team is in win mode, but there will be a little rebuilding phase (via Daryl Van Schouwen of the Chicago Sun-Times).

• John Danks, White Sox Agree to Five-Year Deal - MLB Daily Dish
  "The White Sox have agreed to a five-year deal with John Danks."
• White Sox and pitcher John Danks agree to terms on five-year contract | whitesox.com: News
  "The Chicago White Sox and left-handed pitcher John Danks have agreed to terms on a five-year, $65-million contract."
• Sox announce Danks extension: Five years, $65 million - Inside the White Sox
  "Danks, 26, will receive $8 million in 2012, which would have been..."
• Twitter / @scottmerkin - MLB.com has learned Danks has full no-trade in first year of deal, limited no-trade over next four years. More to come.