The Red Sox are taking on a flier on Lucas Giolito, announcing to today that they have signed the right-hander. It is reportedly a two-year, $38.5MM guarantee that allows the CAA client to opt out after the first season. Giolito will collect an $18MM salary next year and would receive a $1MM buyout if he exercises the opt-out. His ’25 salary is worth $19MM.

If he doesn’t opt out next winter, a conditional option kicks in covering the 2026 campaign. Were Giolito to throw fewer than 140 innings in 2025, the Sox would have a $14MM club option. If he reaches or tops 140 frames, he’d convert that provision to a $19MM mutual option. Regardless of the option value, there’d be a $1.5MM buyout. The deal also contains $1MM in performance bonuses in each of the next two seasons.