Indians sign Carlos Carrasco four-year, $38 million extension

The Indians and right-hander Carlos Carrasco have agreed to a three-year extension that will guarantee him $38 million through the 2018 season, according to Ken Rosenthal of FOXSports.com and Jeff Passan of Yahoo! Sports. The deal will re-write Carrasco's 2015 salary and guarantee three more seasons, with two club options potentially keeping Carrasco in Cleveland through the 2020 season.

Cleveland's agreement with Carrasco is the second long-term commitment of the day for the team, who announced their five-year, $38.5 million with ace Corey Kluber earlier in the day. Carrasco was slated to become a free agent after the 2017 season, so his new deal will guarantee the Indians one additional year of his services along with extended control through 2020 due to the club options.

Carrasco, 28, experienced a bit of a career resurgence last season, when he posted a 2.55 ERA in 40 appearances (14 starts) with Cleveland. He is slated to be the team's second starter behind Kluber, anchoring a rotation that includes the likes of Trevor Bauer, Zach McAllister and T.J. House.

In parts of five-major league seasons with Cleveland since breaking into the majors in 2009, Carrasco has posted a lifetime 19-26 record and 4.30 ERA in 88 appearances (54 starts). He underwent Tommy John surgery and missed the entire 2012 season before struggling in 2013, being designated for assignment by the Indians, and working his way back into the rotation last season.