Jeff Wilson of the Fort Worth Star-Telegram reported the details:
The 22-year-old lefty made 20 starts this season, posting a 10-6 record with a 3.62 ERA. He made his debut in 2012 and struggled in 38 innings, but he proved in 2013 that he can hold his own in the starting rotation.
He especially did well over the summer, winning seven starts in a row from the end of July into the beginning of September. With a sturdy arsenal of pitches and the ability to challenge hitters on each side of the plate, Perez showed a lot of potential for his future.
As Matt Snyder of CBS Sports explains, this is a relatively safe move for the club:
Perez isn't eligible for free agency until after the 2018 season, so if all three club options are picked up, the Rangers will have controlled his first two seasons of free agency with this contract. If he doesn't perform well, they obviously can refuse to pick up the options and let him walk.
Meanwhile, the Rangers can save a lot of money in the event Perez lives up to expectations. Instead of going through arbitration, the young player will remain on the roster at a small cost.
It's a strategy this administration had done in the past, most recently with fellow starter Derek Holland before the 2012 season. The club gave the starter a five-year contract with multiple options.
On the other hand, Perez has a secured deal over the next few years regardless of how he performs on the field, making it a quality move for both parties.
Of course, each side will hope to see a lot more success from the young pitcher in the future as the squad attempts to go back to the postseason.
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