The deal can be worth up to $43.75 million according to the team.
[Earlier] he Rays will announce later today that they have signed Chris Archer to a 6-year extension according to Ken Rosenthal of FoxSports.com.
Marc Topkin reports the deal is worth $25.5 million.
The deal also includes two options years worth $9 million and $11 million according to Jerry Crasnick of ESPN.com. Those options would bring the total value of the deal to $45.5 million.
The options also mean the Rays can keep Archer through the 2021 season, buying out a total of two free agent seasons. If the options are exercised, Archer would not become a free agent until he is 33.
Jeff Passan of Yahoo.com adds that there is a “trade assignment bonus” in the contract meaning Archer would receive a bonus if traded by the Rays.