Royals, Ragans agree to 3-year extension reportedly worth $13.25M

The Kansas City Royals signed left-hander Cole Ragans to a three-year, contract extension, the club announced Friday.

The agreement buys out two of Ragans' arbitration years. He was scheduled to make $800,000 this season.

The deal worth at least $13.25 million will pay Ragans $1 million this season with a $250,000 signing bonus, $4.5 million in 2026, and $7.5 million in 2027, a source told MLB.com's Mark Feinsand. His 2027 salary will increase to $8 million if he wins Cy Young in either of the next two seasons.

"I mean, it gives me a little security, but at the same time ... I know for sure I'll be here, I hope, for however long," Ragans said Saturday, according to Anne Rogers of MLB.com. "I love Kansas City. I hope I'm here for forever. It's a special place."

Ragans has emerged as the ace of Kansas City's staff after he was acquired from the Texas Rangers for Aroldis Chapman in June 2023.

The 27-year-old southpaw made his first All-Star Game in 2024. Ragans posted an 11-9 record with a 3.14 ERA and 223 strikeouts across 186 1/3 innings.

He has registered a 3.00 ERA, a 2.85 FIP, and 10.9 K/9 in 44 starts with the Royals over the past two seasons.