Sox announce Danks extension: 5 yrs, $65 million as reported; $8 million for 2012 and $14.25 million in each of the 2013-16 seasons.
Tom Tango's analysis isn't changed much by the particulars, though it looks like the White Sox got Danks to agree to take a little less in 2012 in order to take a little more throughout the remainder of the deal. The $8 million he will make in 2012 is about $1-2 million less than I thought he'd get this year, which is nice. In addition, Danks is taking a slight discount because he's not waiting to get to free agency. On the whole though, it's a fair market deal that works in the White Sox' favor thanks to the organization's talent for handling pitchers.
UPDATE: For the people who still need press releases, here it is.
UPDATE 2: He has a full no trade clause for 2012 and a limited no trade clause thereafter.