White Sox sign Nate Jones to three-year extension

On December 17, 2015, in Chi White Sox

On Friday, the White Sox announced they have signed righty setup man Nate Jones to a three-year contract extension worth $8 million. The deal includes two club options, plus a mutual option.

Here is the salary breakdown per the team's press release:

White Sox sign Nate Jones to three-year extension

2016: $900,000
2017: $1.9 million
2018: $3.95 million
2019: $4.65 million team option ($1.25 million buyout)
2020: $5.15 million team option ($1.25 million buyout)
2021: $6 million mutual option

The contract buys out Jones' final two seasons of arbitration-eligibility and one season of free agency. The options potentially cover three more years of free agency.

"We view Nate as a key component in the back end of our bullpen," said GM Rick Hahn in a statement. "Nate is a homegrown pitcher with a power arm and tremendous work ethic, so we are excited to be able to reward him for what he has accomplished thus far in his career and potentially keep him in a White Sox uniform for the next six seasons."

Jones, who turns 30 in January, had a 3.32 ERA (120 ERA+) with 27 strikeouts and only six walks in 19 innings this past season after returning from Tommy John surgery. He blew out his elbow early in the 2014 season.

Here are four things to know about the contract extension.

1. Jones jumped at the financial security.

These days a reliever is lucky to get through four full big league seasons. It's a job with a lot of turnover and very little security, and as handsomely as baseball pays, very few relievers get a chance to be set for life financially.

Jones, a fifth round draft pick who received a $157,800 signing bonus, has been paid something close to the MLB minimum over the last four seasons. He hasn't banked a ton of cash in his career to date, he's going to turn 30 next month, and he's already blown out his arm once.

In essence, Jones passed up his maximum possible payday through arbitration and free agency in exchange for the security of a guaranteed $8 million. I don't blame him.

2. The White Sox are taking on a little risk too.

In the grand scheme of things, $8 million isn't much to a major league franchise, especially when it's spread across three years. It's not nothing though. It's real money they could have spent elsewhere.

The White Sox signed ex-closer Sergio Santos to a similar three-year, $8.25 million contract in September 2011. He has battled injuries and pitched to a 5.16 ERA (78 ERA+) in 68 MLB innings since. That's a harsh reminder of how quickly thinks can go south for a reliever.

Luckily for Chicago, they traded Santos to the Blue Jays in December 2011, so they weren't saddled with the financial burden. That said, the prospect they received in return (Nestor Molina) stalled out in Double-A and has been a non-factor.

3. The extension includes a "John Lackey clause."

When the Red Sox signed John Lackey six years ago, they included a clause in his five-year contract that gave the team a sixth-year club option at the league minimum salary if Lackey underwent Tommy John surgery during the life of the deal. Lackey indeed had his elbow rebuilt in 2012.

According to Jeff Passan of Yahoo! Sports, that mutual option for 2021 turns into another club option if Jones undergoes a second Tommy John procedure before the end of the 2018 season. The salaries of the three option years are reduced as well. So the White Sox built some protection for themselves into the contract in case Jones blows out his elbow again. They potentially gain control of him for another year and stand to save some cash from 2019-21. 4. Jones throws really frickin' hard.

Jones made his MLB debut in 2012 and pitched to a 2.39 ERA (179 ERA+) in 71 2/3 innings. He had a 4.15 ERA (101 ERA+) in 78 innings in 2013 even though his strikeout, walk and hits allowed rates improved. Then in 2014 he made two appearances before blowing out his elbow.

The 6-foot-5, 220-pound right-hander is effective because he throws extremely hard. PitchFX data shows Jones was the only pitcher in baseball to not throw a single fastball below 95 mph in 2015.

Jones topped out at 99.7 mph this past season, which is encouraging after elbow reconstruction. He regularly topped 100 mph during the 2012 and 2013 seasons.

Every bullpen seems to have three or four guys capable of pumping 95+ mph fastballs nowadays, but few have a guy like Jones, who legitimately lives in the upper-90s. He hasn't thrown a fastball under 95 mph since 2013.

Mike Axisa/CBS Sports

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