Locking Down the Future: Keller Signs $77 Million Deal with Pirates
Photo Credit: Matt Slocum, AP
On Feb. 22, the Pittsburgh Pirates and 27-year-old starting pitcher Mitch Keller agreed to a five-year, $77 million extension with a $2 million signing bonus.
In recent years the Pirates have been a team focused on the far future. Since their 2015 Wildcard loss, they have not even come close to the playoffs and have had one season with a record above .500. While it has been a long time since Pirates fans have seen success, things are certainly on an upward trend. With the extension of Mitch Keller, the Pirates have further bolstered their young core and the rebuild appears to be nearly over.
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Early investment in home-grown talent has emerged as a key theme within the Pirates organization. In 2022, third baseman Ke’Bryan Hayes signed an eight-year, $70 million deal. After a period of tension and negotiations a year later, outfielder Bryan Reynolds secured his own eight-year, $106.75 million contract, setting a record for the largest deal in franchise history. Following this trend, Keller set a record of his own, signing the largest pitcher deal in Pirates history during Spring Training of 2024. While one could argue the contracts for Reynolds and Hayes are team-friendly deals, the contract for Keller seems extremely fair.
Keller's $77 million extension has an average annual salary of $15.4 million, though the payments will be distributed unevenly. His earnings will increase over his five-year contract, starting with $7.5 million in 2024 and growing to $20 million in 2028, the contract's final year. Also under the terms of the agreement, Keller could earn an additional $650,000 for winning the Cy Young Award, $250,000 for finishing second, and $150,000 for third place. With all of that, this contract has drawn numerous comparisons to Pablo Lopez’s four-year, $73.5 million deal with the Minnesota Twins from just a year ago.
Keller, set to turn 28 in April, has already made a significant mark in his five seasons. While his career earned run average (ERA) of 4.71 is nothing that pops off the page, he has continued to show consistent improvement each year in the league. His impressive array of pitches helped him in achieving 210 strikeouts over 194.1 innings pitched in 2023, earning him that first All-Star selection. The Pirates clearly understand the unique talent Keller possesses and his capacity to be a game-changer, a belief reflected in their commitment to him. Keller's trajectory suggests that he is on the path to becoming an even more integral part of the team's success in the future.
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With Keller's significant contract extension and the anticipated arrival of Paul Skenes, the number three prospect in baseball, the Pirates are strategically positioning themselves for a formidable shutdown rotation. While there's optimism that the Pirates could make a notable impact this year, the realistic expectation is that they might be just a season away from being a genuine threat across the league. For Pirates fans, there's every reason to be thrilled about the next five seasons with Keller. Watching his development and contribution to the team's success will certainly be a journey worth following, as these strategic moves signal a bright and competitive future for the Pirates.
