Two-time MLB All-Star pitcher Luis Severino and the Athletics have reached an agreement on a three-year contract, according to multiple reports.

The deal is reportedly worth $67 million, which would represent the most lucrative contract in the history of the typically budget-minded franchise. 

The deal exceeds the $66 million contract third baseman Eric Chavez signed for 2005-10. 

Severino had a strong 2024 campaign with the New York Mets, starting 31 games and posting a 3.91 ERA. He also struck out 161 batters in what became his first full MLB season since 2018. Severino has battled a number of injuries over the past five years.

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Severino made his big league debut with the New York Yankees in 2015. 

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It didn't take long for the veteran right-hander to find success at the MLB level. He recorded 230 strikeouts and was named to the All-Star team in 2017, his first full season in a big league rotation.

Severino, who turns 31 Feb. 20, was a free agent for the second straight offseason after going 11-7 in his only season with the Mets. He left the Yankees last offseason to sign a one-year deal with the Mets guaranteeing $13 million, and he earned an additional $2 million in performance bonuses.

Severino is 65-44 with a 3.81 ERA in 156 starts and 16 relief appearances for the Yankees and Mets.

Severino turned down a $21.05 million qualifying offer from the Mets, who will receive an extra pick after the fourth round of next July’s amateur draft. The A's will forfeit their third-highest selection.

The Associated Press contributed to this report.

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