Ken Rosenthal is reporting that the Pittsburgh Pirates and closer Felipe Rivero have agreed on a four-year contract extension with two club options. Rosenthal believes the deal is for $22 M over the four years and each option is $10 M. As noted in the tweet below, this covers all four arbitration years for Rivero, plus two years of free agency.

Rivero and the Pirates couldn’t agree to an arbitration deal on Friday before the deadline, with the Pirates offering $2.4 M and Rivero asking for $2.9 M. At that time, it was taking a long time for the news to come out about whether he filed for arbitration or not, so the speculation was that the two sides were discussing an extension. That is something that Rivero mentioned last month in an interview as well, so it appears that was true.

Bob Nightengale has the exact figures, which includes a signing bonus:

Nightengale also has some incentives that are built into the contract, so Rivero could make much more than the $22 M plus options.

IMPORTANT: You will need to update your password after the switch to the new server in order to log in and comment. Go to the Password Reset Page to change your password.