Signs $5 Million Deal with Yankees for 2024 Return

Right-handed pitcher Jonathan Loáisiga has agreed to a one-year, $5 million contract with the New York Yankees as he works his way back from Tommy John surgery. The deal, which could reach a total value of $10.5 million over the next two seasons, highlights the team’s commitment to his recovery and potential contributions.

Loáisiga’s contract includes a $500,000 signing bonus and a $4.5 million salary for the 2024 season. Additionally, the Yankees hold a $5 million team option for 2026, with no buyout clause. The deal also features performance bonuses for 2026, allowing Loáisiga to earn $500,000 if he pitches 50 innings, with increments of $100,000 for every additional five innings, up to 70 innings.

Yankees pitching coach Matt Blake anticipates Loáisiga could return to action by late April or May, following his surgery on May 1. “I imagine him being one of the high-leverage guys,” Blake said, emphasizing the importance of giving him ample recovery time before re-entering competition.

Loáisiga’s 2023 season was marred by injuries. After making three relief appearances at the start of the season, he was sidelined with a strained right flexor muscle and later underwent Tommy John surgery performed by team physician Dr. Christopher Ahmad.

The 30-year-old pitcher, who earned $2.5 million in 2023 during his final arbitration-eligible season, became a free agent after the season. Despite being limited to 17 games in 2023 due to right elbow inflammation, Loáisiga remains a valuable bullpen asset. His sinker, which averaged 97.8 mph in 2023, is a key weapon in his arsenal.

Over his seven-year MLB career, Loáisiga has built a 19-11 record with a 3.44 ERA across 11 starts and 152 relief appearances. He has struck out 207 batters while issuing 72 walks in 219 2/3 innings. The Yankees are optimistic that Loáisiga will return to form and play a significant role in their bullpen as the 2024 season progresses.