Carrasco, 31, was excellent in 2018, finishing 17-10 with a 3.38 ERA, 1.13 WHIP and 231 strikeouts in 192 innings. He combined with Corey Kluber and Trevor Bauer to give Cleveland a strong top of the rotation.
ESPN's Buster Olney reported in November that Cleveland might shop Carrasco, among other players, on the trade market in an effort to cut payroll, but the team apparently decided that keeping the starter long-term was the better choice.
Carrasco has proved to be a solid option in Cleveland's rotation who consistently misses bats and eat up innings. He isn't an elite ace, but for the past five years he's been very good.
There may be bigger names who change teams in trades or free agency, but Cleveland's decision to lock up Carrasco to an extension nonetheless was one of the winter's important moves.
While there was talk about how the team might cut payroll, the Indians are coming off three straight American League Central titles. They made the World Series once during that span—losing to the Chicago Cubs in 2016—and figure to remain among the top AL contenders with Carrasco aboard.