According to Marc Topkin from the St. Pete Times, the Rays have just signed pitcher Wade Davis to a long term deal that could last as long as seven years. The contract is for four guaranteed years at $12.6 million, and then there are three team options that brings the total value of the deal to $35.1 million.
The Rays have a history of signing young players to long term extensions, and this contract it very reminiscent of the deal James Shields is currently signed to: four guaranteed seasons at $11.25 million, and then three team options that brings the value up to around $38 million. Considering that Shields might be traded after this season, this deal would simply be starting the process anew.
Overall, this is a fair deal for both sides. The Rays now have one of their youngest, most durable starters locked up to a long term deal, while Davis is set for life and has guaranteed himself $12 million in case he gets injured. The Rays potentially buy out two of Davis's free agency years, allowing them to keep their young talent in town for longer than they would otherwise.