It’s a good thing Jake Peavy finally managed to keep all of his body parts attached and in working order during the 2012 season. Peavy has been given a two-year, $29 million deal to remain with the Chicago White Sox, and there’s even an option for a third year depending on innings (which is always the big caveat with the Peavster). Peavy is now 31 years old, has a Cy Young award on his resume, and still has mean movement on his pitches.
So what do we think of this move? Well, it seems like a nice enough proposition for both sides. Peavy can’t expect much more in terms of contractual longevity given his injury history, and shiny new White Sox GM Rick Hahn could do a lot worse when it comes to grabbing a starter to place near the top of his rotation. Peavy’s 2012 was very good, as he wound up being worth 4.4 WAR per FanGraphs. Peavy struck out 7.97/9 while walking just 2.01/9 and posting a 3.73 FIP. It’s fair to assume he’ll earn that contract extension handily so long as he can stay healthy; the stuff is still there and it’s not like he’s aged past the point of usefulness or anything.
There is plenty to be said for taking chances on pitchers with injury risks or other asterisks hovering above their names, as it’s one of the few surefire ways to actual gain value these days. The Nationals gave Edwin Jackson a one-year deal this past offseason, and he rewarded them handsomely. The White Sox hope to be in the mix for the next few years, and Peavy gives them a front-line starter (or close to it) for a price they couldn’t obtain one on the open market. The Peavy extension makes plenty of sense all around, and we’re willing to bet the White Sox make out well on their medical gamble.