Dodgers ink Glasnow to 5-year, $136.5M deal after 4-player trade with Rays

Tyler Glasnow is the latest beneficiary of the Los Angeles Dodgers' spending spree.

Fresh off completing a historic 10-year, $700-million deal with Shohei Ohtani, the Dodgers acquired Glasnow from the Tampa Bay Rays as part of a four-player trade on Saturday and immediately signed him to a five-year, $136.5-million contract.

Tampa Bay dealt Glasnow and outfielder Manuel Margot to the Dodgers for pitcher Ryan Pepiot and outfielder Jonny Deluca. Cash is also being exchanged in the deal; the Rays announced that they received cash considerations from the Dodgers, however Jack Harris of the Los Angeles Times reports that Tampa Bay is sending $4 million to L.A.

Los Angeles was given a window to negotiate an extension with Glasnow as a condition of the trade.

It will officially go down as a four-year, $110-million extension for Glasnow, sources told Ken Rosenthal of The Athletic on Friday. Glasnow was due to earn $25 million in 2024, the final year of his previous contract; that figure has been adjusted into a $15-million salary and $10-million signing bonus to lower the average annual value for luxury tax purposes, Rosenthal added.

The extension also includes a $30-million club option for 2029 that becomes a $20-million player option if it's declined, Rosenthal reports.

Ohtani reportedly sent Glasnow a video telling him he wanted to "hit some home runs for you," a source told Rosenthal and The Athletic's Fabian Ardaya.

Glasnow adds yet another electric arm to a Dodgers rotation that was done in by injuries last season. While Ohtani won't pitch next year, L.A. will be getting Walker Buehler back from Tommy John surgery, with youngsters Bobby Miller and Emmet Sheehan slotting in behind Buehler and Glasnow.

However, Glasnow does bring his own iffy injury history to Los Angeles. The 30-year-old has missed time over his career due to a litany of issues, including a forearm strain and elbow surgery. He made a career-high 21 starts for the Rays this past season but also missed a chunk of time with an oblique strain he suffered in spring training.

When healthy, the right-hander has been a staple of the Rays' rotation since they acquired him from the Pittsburgh Pirates for Chris Archer (who's now a member of the Dodgers' front office) in 2018. Last year, Glasnow put up a 3.53 ERA, 2.91 FIP, and 1.08 WHIP with a 12.2 K/9 rate across 120 innings and also walked under three batters per nine innings.

Margot, who also heads to L.A. alongside Glasnow, should slot in as Jason Heyward's platoon partner in right field. The 29-year-old has historically fared better against left-handed pitching, posting a lifetime .760 OPS against southpaws compared to .664 versus right-handers. He's also an excellent defender, tallying 41 defensive runs saved across all three outfield spots during his career.

In 99 games for the Rays last year, Margot put up a .686 OPS with four homers and 38 RBIs. He'll earn $10 million in 2024, the final season of a two-year deal, and also comes with a $12-million club option or $2-million buyout for 2025.

Pepiot, 26, impressed during his cameos in the Dodgers' rotation over the last two seasons. In 17 big-league appearances (10 starts), he owns a 2.76 ERA and 1.09 WHIP along with 80 strikeouts, and he walked just five batters in 42 innings last year. He'll presumably slot right into a Rays rotation that needed reinforcements even before this trade in the wake of injuries to Shane McClanahan and Drew Rasmussen.

Deluca, 25, debuted in the majors last season and hit .262/.311/.429 with two homers in 45 plate appearances for the Dodgers. He has experience manning all three outfield spots.