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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).