Red Sox Sign RHP Lucas Giolito to a Two-Year Deal

The Boston Red Sox have signed RHP Lucas Giolito to a two-year, $38.5 million deal that includes a player opt out after the first season. It is the first big league arm added by the Sox this offseason which has been uncharacteristically slow for the AL East Giant.

Giolito, 29, is a former top 10 prospect who clocked in as high as #3 on MLB’s annual prospect rankings, during the 2016 season. After a brief cameo with the Nationals in 2016, Giolito was flipped to the Chicago White Sox as part of the package that sent Adam Eaton to D.C. Giolito struggled mightily during his first season in Chicago, pitching to a 6.13 ERA across 32 starts, which was the worst ERA for qualified starters. The next few seasons painted a different picture, as Giolito pitched to a sub 3.60 ERA across parts of 4 seasons, in which he was exceptionally durable, only missing a miniscule handful of starts before being dealt to the Los Angeles Angels at the 2023 trade deadline.

Giolito’s time with LA could not have gone much worse - he made only 6 starts pitching to a 6.89 ERA, before being dumped on waivers. He made 6 more starts for the Guardians to close out the 2023 season and was even worse, posting an ERA higher than 7.00. Despite the lack of run prevention, Giolito has still seen a great deal of success during his career and the Red Sox likely view his second half of 2023 as something of an anomaly. The Sox are also likely excited by Giolito’s durability - his 184 and ⅓ innings pitched and 33 games started both ranked higher than any pitcher on the Sox 2023 roster.

On the player side of the deal, Giolito locked in a guarantee of at least two seasons making 8 figures, using a one year + player option deal that has been growing in popularity in recent years. He is looking at a solid $16.25 million in his first season and can secure an additional $16.25 million should his first season in Boston not go according to plan. Assuming he has an effective season, he’ll have the option to retest free agency following the 2024 season.