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Pittsburgh Pirates Officially Announce Felipe Rivero Extension

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As reported back on Monday, the Pittsburgh Pirates and closer Felipe Rivero agreed to a four-year contract with club options for the 2022-23 seasons. The Pirates made that official today, announcing the news this morning.

General Manager Neal Huntington released a statement on the signing:

“We are pleased to make this long-term commitment to Felipe Rivero and are humbled that he has made a long-term commitment to the Pirates organization and our community,” said Huntington. “Felipe quickly established himself as one of the best young relief pitchers in Major League Baseball last season and we look forward to working with him to help us win games for potentially the next six seasons.”

According to reports, Rivero will receive $2.5 M this season, followed by $4M in 2019 and $5.25 M in 2020. He will get $7.25 M in 2021, which would have been his last season before free agency. The deal also includes a $2 M signing bonus and numerous incentives based on his finish for the Reliever of the Year award and whether or not he makes All-Star appearances. The two club options at valued at $10 M each year and come with a total of $1.5 M in buyouts. The minimum value of the deal is $22 M for Rivero, but he could make more than double that if both options are picked up and he reaches some of his incentives.

Rivero will speak to the local media today via conference call.

John Dreker
John Dreker
John started working at Pirates Prospects in 2009, but his connection to the Pittsburgh Pirates started exactly 100 years earlier when Dots Miller debuted for the 1909 World Series champions. John was born in Kearny, NJ, two blocks from the house where Dots Miller grew up. From that hometown hero connection came a love of Pirates history, as well as the sport of baseball. When he didn't make it as a lefty pitcher with an 80+ MPH fastball and a slider that needed work, John turned to covering the game, eventually focusing in on the prospects side, where his interest was pushed by the big league team being below .500 for so long. John has covered the minors in some form since the 2002 season, and leads the draft and international coverage on Pirates Prospects. He writes daily on Pittsburgh Baseball History, when he's not covering the entire system daily throughout the entire year on Pirates Prospects.

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