White Sox sign Jose Quintana to 5-year extension

The Chicago White Sox have signed left-hander Jose Quintana to a five-year contract extension that could be worth up to $26.5MM, according to a team announcement. The deal also includes two team options that could bring its total value to $48.5MM over seven seasons.

The deal's monetary value is a bit complicated, as it is dependent on whether or not Quintana becomes arbitation-eligible after this season as a Super Two player, or if he becomes arbitration-eligible after 2015. If he does qualify as a Super Two player after this season, he will receive $26.5MM in guaranteed money, but if he is arbitration-eligible after 2015, he will receive $21MM in guaranteed money. The team's press release provides a complete breakdown of the salary structures of both versions of the deal:

If Quintana is eligible for arbitration following the 2014 season, the total guaranteed dollars would be $26.5 million.  He would receive $850,000 in 2014, $3.4 million in 2015, $5.4 million in 2016, $7 million in 2017 and $8.85 million in 2018.  The White Sox would hold options for 2019 at $10.5 million and for 2020 at $11.5 million.  If either option is declined, Quintana would receive a $1.0-million buyout.

If Quintana is not eligible for arbitration after the 2014 season, the total guaranteed dollars would be $21.0 million.  He would receive $850,000 in 2014, $1.0 million in 2015, $3.8 million in 2016, $6.0 million in 2017 and $8.35 million in 2018.  The Sox would hold options for 2019 at $10.5 million and for 2020 at $11.5 million with a $1.0-million buyout.

Quintana, 25, broke into the majors in 2012 and has posted a 15-13 record and 3.61 ERA in 58 appearances (55 starts) over the last two years. He was tentatively scheduled to become a free agent after the 2018 season, so the extension buys out his remaining arbitration years and keeps him under team control through 2020, when he will be 31.