Royals sign Salvador Perez to 5-year, $52.5 million extension

The Kansas City Royals and Salvador Perez have reportedly agreed upon a deal to extend the All-Star, and reigning World Series MVP catcher for the next five years. After Jon Heyman reported that the two sides were working on it on Monday, Jeff Passan has confirmed that a deal has been reached.

The deal is reportedly worth $52.5 million over the five seasons following this upcoming year. It guarantees Perez another two years and a substantial raise.

Salvador Perez’s new deal picks up three team options, adds two years. Starts in 2017, at least $30M in new $. @JonHeyman said it was close.

— Jeff Passan (@JeffPassan) March 1, 2016

Full deal for Salvador Perez, as @JonHeyman said, is five years, $52.5M. Option years were for $16.5M, so new guarantee is two years, $36M.

— Jeff Passan (@JeffPassan) March 1, 2016

Perez's new money breaks down like this: $6M signing bonus, additional $4M in option years (total: $20.5M), $13M/year in 2020 and 2021.

— Jeff Passan (@JeffPassan) March 1, 2016

Perez will still make $2 million this upcoming season. The extension buys out the ensuing three options years that, if they were all picked up, would have totaled $14.75 million. Instead though, Perez will make an extra $37.75 million.

The All-Star catcher is now signed through his age-31 season which means, if he so chooses, Perez could still get a substantial chance at free agency.

Over the past three seasons, Perez has more than earned an extension. Over that time frame, no catcher has logged more innings behind the plate and only Buster Posey has more plate appearances. There is some concern with Perez going forward however.

Since the 2012 season, his wRC+ has declined every year, and has now reached a career low of 87; which is 13 percent below league average. While his home run totals are impressive, a slash line of .260/.280/.426 with a wOBA of .300 and an fWAR of 1.6 doesn't inspire much confidence. He's one of the best at throwing out runners, but unfortunately his inability to frame pitches well negates his positive influence on the base-paths.

Barring a complete collapse, Perez shouldn't have any trouble justifying his salary for the next three years, but the two new extension years might be tough. According to FanGraphs, the Royals have received $87.8 million in value from Perez, and have only had to pay $5 million for it. Even with this new contract, Kansas City should still ultimately come out ahead in terms of money committed and value received.

The Royals have also proven this offseason that unlike previous years, they're ready to spend money to ensure their team remains competitive.

With Salvy's $6 million signing bonus, Royals spending about $138 million on players this year.

— Royals Review (@royalsreview) March 1, 2016