Chicago White Sox Extend Jake Peavy and Pick Up Gavin Floyd's 2013 Option

Matthew SmithCorrespondent IIIOctober 30, 2012

Jake Peavy signed a two-year, $29 million extension Tuesday.
Jake Peavy signed a two-year, $29 million extension Tuesday.Jonathan Daniel/Getty Images

In a bold move Tuesday afternoon, the Chicago White Sox signed Jake Peavy to a contract extension and picked up the option on Gavin Floyd. With Peavy and Floyd penciled into the 2013 starting rotation, the White Sox signaled that they intend to win the AL Central next year.

As reported by Jon Heyman from, Peavy’s extension is worth $29 million over two years.

Peavy, 32, had an impressive campaign in 2012. He went 11-12 with a 3.37 ERA and struck out 194 in 219 innings. Along with Chris Sale, Peavy was a constant for the White Sox rotation this past season and he would have been missed.

Almost simultaneously, reported that the White Sox had picked up Floyd’s $9.5 million option.

Floyd’s 2012 stats (12-11, 4.29 ERA and 144 Ks in 168 innings) were less impressive than Peavy’s, but he is as solid a No. 4 starter as there is in the AL.

Prior to the moves today, next year’s rotation had been a question mark. Now, the White Sox seemingly have one of the best rotations in the league.

In addition to Sale, John Danks and Jose Quintana, Peavy and Floyd provide the White Sox with a balanced rotation and reasons for legitimate optimism on the South Side.

Now, Danks is coming off surgery, while Sale and Quintana each surpassed career highs in innings pitched, so how everything comes together is still very much unknown. The moves have to excite White Sox fans, however.

One very large question looms after today’s announcement, though.

Do the moves preclude White Sox GM Rick Hahn from re-signing A.J. Pierzynski and bringing Kevin Youkilis back?

Based on Hahn’s statement that the White Sox will have a 2013 payroll “right in the same neighborhood” they “spent in 2012” (per Patrick Mooney from Comcast Sports Net), it would seem so.

Then again, the White Sox have surprised us more than once, so anything is possible.

Mark Gonzales from the Chicago Tribune reported Tuesday that the White Sox have until Friday to make qualifying offers to both men.