The Tampa Bay Rays and right-hander Tyler Glasnow have agreed to a contract extension through the 2024 season, according to Marc Topkin of the Tampa Bay Times.
ESPN's Jeff Passan reported it's a one-year, $25 million extension.
Glasnow was set to become a free agent after the 2023 campaign.
Glasnow has not pitched since June 14, 2021, and underwent Tommy John surgery last August. The Rays have relied on Shane McClanahan, Drew Rasmussen, Corey Kluber, Jeffrey Springs and Ryan Yarbrough on the mound in his absence.
The California native told reporters earlier this week after a live batting practice that he hasn't ruled out returning this season.
"I think it's like easy to be very optimistic," Glasnow said. "I felt really good, my velo was good, execution was good, but again, if I'm not comfortable and I don't feel like 100 percent and ready to go, then I'm not. I'm not going to push it."
He added: "It's going to be the hardest thing for me to come to the decision. I really do want to come back. I want to help the team, especially the position we're in, but I'm not going to jeopardize the rest of my career."
Glasnow has spent the last four and a half seasons in Tampa Bay after beginning his career with the Pittsburgh Pirates.
The 29-year-old has become a staple in the team's rotation and had an impressive 2021 season before undergoing surgery. He went 5-2 with a 2.66 ERA, 0.932 WHIP and 123 strikeouts in 88 innings across 14 starts.
Before the start of games on Friday, the Rays occupied the top wild-card spot in the American League and are on pace to make the postseason. If Glasnow is able to return this season, it would be a significant boost to Tampa Bay's rotation heading into October.
If he's unable to return this year, the Rays can look forward to having him back for the 2023 and 2024 seasons.