Considering how he performed last season, Jake Arrieta was wildly underpaid. Agent Scott Boras certainly made the Cubs aware of that.
The two came to terms Friday on a one-year deal that will pay the Cy Young Award winner $10.7 million and avoid arbitration, the Sun-Times has confirmed.
The deal gives Arrieta a $7 million raise and an MLB-record salary for a fourth-year pitcher.
Arrieta $10.7M deal is record 1-year contract for 2nd-time arb pitcher, topping David price ($10.1M) #cubs— Jon Heyman (@JonHeyman) February 6, 2016
Boras reportedly had been seeking $13 million, while the team had offered $7.5 million for the 29-year-old right hander.
Cubs remain optimistic they'll avoid arb hearing with Arrieta ($13m vs. $7.5m). Deadline is Tuesday's scheduled hearing.— Gordon Wittenmyer (@GDubCub) February 4, 2016
Arrieta was 22-6 with a 1.77 ERA for the Cubs last season.