The Athletics and veteran right-hander Luis Severino agreed to a two-year contract with a player option for the 2027 season, the club announced Friday.

The contract will pay Severino $67 million, sources told ESPN's Jeff Passan.

The $67-million guarantee is the largest in Athletics history, surpassing Eric Chavez's six-year, $66-million deal signed in 2004.

The Athletics also made a big offer to free-agent left-hander Sean Manaea before agreeing to a deal with Severino, Jon Heyman of the New York Post reports.

The New York Mets will receive draft-pick compensation after extending Severino a qualifying offer earlier in the offseason. Severino had a nice rebound season for the Mets in 2024, posting an 11-7 record with a 3.91 ERA and 161 strikeouts across 182 innings. The 30-year-old was a strong contributor during New York's run to the NLCS, registering a 3.24 ERA across three postseason starts.

Severino will look to lead an Athletics rotation that also includes JP Sears, Joey Estes, Mitch Spence, and J.T. Ginn. The Athletics will play home games in Sacramento in 2025 as they await an eventual move to Las Vegas.