Red Sox starting pitcher Lucas Giolito has exercised his $19MM player option for the 2025 season, the team announced. There was little doubt that Giolito would pick up the option after he missed the entire 2024 season due to elbow surgery.
Last winter, Giolito was Boston’s big winter signing. It was a two-year deal with a $38.5MM guarantee, with the righty having the ability to opt-out after the first season.
He had a down year in 2023 and was surely hoping for a bounceback in 2024, which could allow him to return to the open market with more earning power. Unfortunately, he was diagnosed with a partial tear of the ulnar collateral ligament in his throwing elbow during spring training, as well as a flexor strain, ultimately undergoing internal brace surgery.
After missing the entire 2024 campaign, there was little drama about this decision. Rather than return to free agency, he’ll lock in his $19MM player option and be a part of Boston’s rotation mix for 2025. He might not be ready by Opening Day but should get back on the mound at some point.
The Sox are now losing Nick Pivetta to free agency, leaving them with a rotation core of Tanner Houck, Brayan Bello and Kutter Crawford. They also have guys like Richard Fitts, Cooper Criswell, Quinn Priester and others for the back end. They will likely pursue offseason upgrades but Giolito will be a midseason addition at some point. As will Garrett Whitlock and Chris Murphy, who also underwent elbow surgery early in the ’24 season.
When Giolito returns will be of importance for him and the club, as his deal with the Sox also includes a option for 2026. If he throws fewer than 140 innings in 2025, it’s a $14MM club option. But if he gets over that threshold, it’s a $19MM mutual option. Either way, the buyout is $1.5MM.
If Giolito has a strong bounceback, he will want to get over that line and return to free agency, but he’ll need to stay fairly healthy after his current rehab is over. If he has a decent season but falls shy of the line, he could be a relatively cheap rotation option for the Sox in ’26.
Giolito allowed a massive 41 home runs in 2024, bumping his ERA up to 4.88 even though his 25.7% strikeout rate was still strong and his 9.2% walk rate close to average. From 2019 to 2023, he had a 4.11 ERA, 28.3% strikeout rate and 8.5% walk rate in almost 800 innings.