Right-hander Luis Severino and the Athletics agreed to a three-year, $67 million free agent contract that represents the largest guarantee in franchise history, sources told ESPN on Thursday.

After a breakout year in which he pitched 182 innings with a 3.91 ERA for the New York Mets, Severino landed a contract that exceeded industry expectations – especially considering he was saddled with a qualifying offer , which often dampens a player’s market.

The free agents were reluctant to sign with the A’s, who will play the next three seasons in a minor league stadium in Sacramento before moving to Las Vegas. By overextending themselves financially – their previous top deal was a six-year, $66 million extension for Eric Chavez in 2004, and their largest free agent outlay was three years, $30 million for Billy Butler – the A’s convinced Severino to anchor their rotation.

He could leave after the second year of his contract, sources told ESPN.

Once considered one of the best young pitchers in baseball, Severino, 30, had back-to-back All-Star seasons for the New York Yankees in 2017 and 2018. He missed most of 2019 due to a lat strain and all of 2020 and 2018 and most of 2021 after undergoing Tommy John surgery. He returned in 2022 but struggled throughout 2023, leading to a one-year, $13 million deal with the Mets.

With the fourth-best fastball average among qualified starters and a vicious slider, Severino showed there was plenty left in his arm. He struck out 161 batters, walked 60 and allowed 23 home runs, helping the Mets advance to the National League Championship Series.

Severino declined the one-year, $21.05 million qualifying offer, hoping that the pitching price would cause teams to overlook the draft pick penalties that come with signing a player marked with the offer . The A’s, whose young position-playing core has helped them improve from 50-112 to 69-93 this year, had cast a wide net at free-agent pitchers and were looking to fill out their rotation with a lot of money while they their payroll increased to the tune of $100 million.

By signing Severino, the A’s are giving up their third-highest pick in the 2025 draft. Because the Mets exceeded the competitive balance tax threshold last year, they will receive a compensation pick worth just over $500,000 in draft bonus pool money after the fourth round.

The $67 million guarantee is consistent with Yusei Kikuchi’s three-year, $63 million contract with the Los Angeles Angels and continues the strong market for free-agent starters this winter. The deal increases Severino’s career earnings to over $130 million, and he will head back into free agency at age 33, where he could receive another long-term contract.