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Rangers sign Eovaldi to 2-year deal reportedly worth $34M

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The Texas Rangers added another big name to their rotation Tuesday, signing free-agent right-hander Nathan Eovaldi to a two-year contract with a vesting player option for 2025.

The deal is worth $34 million in guaranteed money, sources told ESPN's Jeff Passan. Eovaldi gets a $2-million signing bonus and will earn $16 million in 2023 and '24. The player option is worth $20 million and will vest if he throws 300 total innings over the next two seasons, Passan adds. He can also reportedly earn another $3 million annually by throwing at least 160 innings in each year of the pact.

Eovaldi, a native of Alvin, Texas, is the latest addition to a revamped Rangers rotation. Texas added two-time Cy Young winner Jacob deGrom and veteran left-hander Andrew Heaney earlier this month. Martin Perez and Jon Gray will round out the team's staff.

"Nathan has quality stuff and an unmatched work ethic, and he'll provide a veteran presence to the staff," Rangers general manager Chris Young said, according to Jeff Kolb of Fox 4 Dallas-Fort Worth. "The depth of our starting pitching will be a real asset for the 2023 Texas Rangers."

The 32-year-old spent most of the last five seasons with the Boston Red Sox, helping them to a World Series championship in 2018. Eovaldi's best campaign in Boston came in 2021, when he posted a 3.75 ERA and AL-best 2.79 FIP across 32 starts, earning an All-Star berth and finishing fourth in AL Cy Young voting.

Eovaldi resurrected his career in Boston after a slew of elbow injuries and again became a reliable mid-rotation arm for the team last season. But he made just 20 starts in 2022 while battling back and shoulder issues and also experienced a decline in velocity.

The Red Sox will receive a compensation pick after the fourth round in the 2023 draft since Eovaldi rejected Boston's qualifying offer earlier this offseason. Texas will forfeit its third-round pick due to the signing; the team already lost its second-rounder after adding deGrom.

The Los Angeles Angels and San Diego Padres also had reported interest in Eovaldi this winter.

To make room for Eovaldi on the 40-man roster, Texas designated right-hander Nick Mears for assignment.

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