League sources confirmed to ESPN that the extension is worth $137.5 million. SNY was first to report terms of the deal.
DeGrom, 30, was set to make $17 million this season and was arbitration eligible in 2020. The extension replaces his current deal and nullifies arbitration. The contract includes an opt-out after 2022 and a club option for 2024, sources told ESPN's Jeff Passan. If the option is picked up, the total money for the six-year deal is $170 million, according to sources. The deal has a full no-trade clause.
His new deal calls for a $10 million signing bonus, half to be paid in January 2020 and the rest in January 2021. He gets a $7 million salary this season, $23 million in 2020, $33.5 million each in 2021 and 2022 and $30.5 million in 2023. The Mets have a $32.5 million option for 2024.
After leading the majors with a 1.70 ERA in 217 innings last year, deGrom, 30, was a runaway winner in the NL Cy Young Award balloting. He went just 10-9 but had 269 strikeouts in 32 starts, receiving little support from a fourth-place team that finished 77-85. His 10 victories were the fewest by a pitcher who won the Cy Young award.
Teammate Noah Syndergaard expressed his frustration with deGrom's contract talks Sunday.
"Jake's the best pitcher in baseball right now. I think he deserves whatever amount he's worth. I want to keep him happy, so when it does come time for him to reach free agency, he stays on our side pitching for the Mets. I just think they should quit all this fuss and pay the man already," Syndergaard said.
DeGrom had a dominant 2018 season. His ERA was the fifth lowest by a pitcher in a single season since the mound was lowered in 1969. He was the second pitcher since earned runs became official in both leagues in 1913 to have a sub-2.00 ERA, over 250 strikeouts and few than 50 walks in a season. Pedro Martinez was the other in 2000.
ESPN Stats & Information and The Associated Press contributed to this report.