David Price is planning to stay in Boston, declining to exercise an opt-out clause in his contract to become a free agent this offseason.
The Red Sox will have the 33-year-old left-hander under contract for the next four years for $127 million. Price faced a deadline of midnight ET Wednesday to decide on the option.
Price originally signed a seven-year, $217 million deal with the Red Sox as a free agent entering the 2016 season.
He had his best season with Boston in 2018, posting a 16-7 record and 3.58 ERA in 176 regular-season innings before allowing three runs in 19 2/3 innings in four appearances in the ALCS and World Series.
Price has a 39-19 record and 3.74 ERA with the Red Sox.
The move comes one day after the Red Sox exercised the 2019 option on left-hander Chris Sale, who will earn $15 million next season. Right-hander Rick Porcello is under contract for 2019 at $21 million, the final year of a four-year, $82.5 million deal signed before the 2016 season.
—Field Level Media