Cubs, Hendricks agree to $62.9M extension
By The Associated Press
CHICAGO — Right-hander Kyle Hendricks and the Chicago Cubs agreed to a contract that adds $55.5 million from 2020 to 2023, guaranteeing he will receive $62,905,000 over the next five seasons.
Hendricks agreed in January to a one-year deal for $7,405,000. He would have been eligible for arbitration next winter.
His new deal adds salaries of $12 million for 2020 and $14 million annually from 2021-23. The agreement includes a $16 million team option for 2024 with a $1.5 million buyout, and the option would become guaranteed if he finished among the top three in Cy Young Award voting in 2020. There are $3 million annually in escalators based on finishing among the top 10 in Cy Young Award voting.
Hendricks’ deal is somewhat patterned after the deal agreed to last month by St. Louis pitcher Miles Mikolas, who was guaranteed an additional $68 million from 2020-23, raising his total to $75.25 over five seasons.
Hendricks, who turned 29 in December, is 52-33 with a 3.07 ERA in five seasons with the Cubs, including 14-11 with a 3.44 last year.