The Boston Red Sox have inked a $38.5 million, two-year contract with 29-year-old right-hander Lucas Giolito, with the potential for him to earn up to $58 million over three seasons. Giolito will receive $18 million this year and holds a $19 million player option for 2025, accompanied by a $1 million buyout. If he exercises the 2025 option, the Red Sox possess a $14 million option for 2026, with a $1.5 million buyout.
Should Giolito pitch 140 or more innings in both 2024 and 2025, the 2026 option transforms into a $19 million mutual option, accompanied by a $1.5 million buyout. Additionally, he stands to earn up to $1 million in performance bonuses in both 2024 and 2025, with increments for reaching 150, 160, 170, and 180 innings.
Giolito faced challenges in the 2023 season, recording an 8-15 record with a 4.88 ERA across stints with the Chicago White Sox, Los Angeles Angels, and Cleveland Guardians. Notably, he allowed 41 homers, ranking second in the major leagues, and tied for the lead in starts with 33.
Known for his diverse pitching repertoire, including fastballs, sliders, changeups, and occasional curveballs, Giolito struck out 204 batters in 184 1/3 innings while walking 73 in the previous season. His 81 strikeouts came from fastballs, 65 from changeups, and 56 from sliders.
Originally selected by Washington in the 2012 amateur draft, Giolito was traded to the White Sox in December 2016. The right-hander achieved All-Star status in 2019, boasting a 14-9 record with a 3.41 ERA and leading the league in complete games and shutouts.
Giolito’s tenure with the White Sox concluded in July 2023 when he was traded to the Angels and subsequently claimed off waivers by the Guardians. Overall, he holds a career record of 61-62 with a 4.43 ERA in 178 starts and two relief appearances.
As part of the contract negotiation, the Red Sox designated right-hander Mauricio Llovera for assignment, who joined the team via waivers from San Francisco in July 2023. Llovera posted a 5.46 ERA in 25 games and 29 2/3 innings during the previous season.