Talks about a long-term extension are "ongoing" between the Indians and Justin Masterson, according to a source with knowledge of the negotiations. The team recently made an offer to Masterson and his camp responded with a counteroffer, but a gap still remains between the two sides.
Masterson, who turns 29 in March, agreed to a one-year, $9.7625MM deal to avoid arbitration with the Indians earlier this month, and continues to pursue a long-term extension. With starters Clayton Kershaw and Homer Bailey both off the board due to recent contract extensions, Masterson is currently projected to headline next offseason's crop of free agent starters along with Max Scherzer, James Shields, and Jon Lester.
In parts of six major league seasons with the Red Sox (2008-2009) and Indians (2010-2013), Masterson has a lifetime 53-63 record and 4.03 ERA in 212 appearances (150 starts). He was named an AL All-Star last season for the first time.
If Masterson receives a contract extension, it is fair to estimate that it will be larger than the six-year, $105MM deal that Bailey received from the Reds. Bailey has a career WAR or 10.5 over 853 innings, while Masterson is the owner of a 14.1 lifetime war over 1,013 innings.