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Gavin Floyd Signs Extension - 4/$15.5M

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The White Sox signed Gavin Floyd to a four year, $15.5 million contract extension (2009-2012). Club option for 2013 could make it a $25 million deal. This deal covers his final year of near minimum, three years of arbitration eligibility, and the option potentially buys out a year of free agency. Floyd will earn $750,000 in 2009, $2.75 million in 2010, $5 million in 2011 and $7 million in 2012. The option for 2013 is worth $9.5 million. Apparently John Danks turned down the same offer and Carlos Quentin was also approached regarding an extension but declined. According to Joe Cowley, Bobby Jenks has not been approached as of yet. He quotes KW as saying players will be approached in stages as they become eligible for arbitration. Reading between the lines, it seems the White Sox aren't too interested in giving Bobby one considering he's already been arbitration eligible once. More details as they arrive - larry

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