The Boston Red Sox and newly acquired left-hander, Wade Miley, agreed to a three-year deal this afternoon, essentially buying out the 28 year old’s arbitration rights.

According to mlbtraderumors.com, the first year of the deal will be $3.5 million with a $500,000 signing bonus in 2015, $6 million in 2016 and $8.75 million in 2017. The deal also comes with a fourth year team option for $12 million, with a potential extra $2 million for bonuses and also a $500,000 buyout. With the potential fourth year, the deal would round out to about $31 million over the four year course.

The Red Sox acquired Miley earlier in the offseason, from the Arizona Diamondbacks, for pitching prospects Rubby De La Rosa and Allen Webster, both of whom were acquired in the 2012 mega-deal from the Los Angeles Dodgers.

As it stands today, Miley will most likely be the third or fourth starter for the Red Sox, barring anymore changes to the rotation before spring training.

The southpaw has a career record of 38-35, a 3.79 career ERA and 499 career strikeouts. He was also named to the 2012 all-star team, as a rookie and is primarily a ground ball pitcher, something that keyed the Red Sox in trading for him. Miley finished second behind Washington Nationals outfielder Bryce Harper for the 2012 National League Rookie of the Year.

Last season, Miley went 8-12, with a 4.34 ERA and 183 strikeouts in 201.0 innings pitched.

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