The Boston Red Sox finalized a five-year, $130 million contract with left-hander Ranger Suárez on Wednesday. The deal includes a $3 million signing bonus and salaries escalating to $35 million in 2030, with a mutual option for 2031. Suárez, an All-Star in 2024, had spent his entire career with the Phillies.

Suárez's addition comes after Boston lost out on free agent Alex Bregman to the Cubs. The 30-year-old Venezuelan was a steady performer for Philadelphia, going 12-8 with a 3.20 ERA in 26 starts last season. To make room, Boston traded infielder Tristan Gray to Minnesota for minor league catcher Nate Baez.

Boston forfeits its second- and fifth-round draft picks and $1 million in international bonus allocation for signing Suárez, who turned down a qualifying offer. Philadelphia gains a compensatory pick after the fourth round. Suárez brings veteran stability to a Red Sox rotation looking to contend in the AL East.