Freddy Peralta – Photo Courtesy of Scott Paulus/Milwaukee Brewers

The Milwaukee Brewers have reached agreement on a five-year contract extension with pitcher Freddy Peralta that guarantees him $15.5 million with team options for 2025 and 2026 that could take the deal to $30 million.

The deal was first reported by Ken Rosenthal of the Athletic and Jon Heyman of MLB Network.

The 23-year-old Peralta came to spring training with a slider added to his pitch repertoire.

Brewers manager Craig Counsell said Peralta and left-hander Eric Lauer are competing for the fifth spot in the starting rotation behind Brandon Woodruff, Adrian  Houser, Brett Anderson and Josh Lindblom.

The five-year deal would reportedly buy out all three of Peralta’s arbitration years.  The club options, if the Brewers choose to exercise them, would buy out the first two years of free agency.

Peralta finished last season with a 7-3 record and a 5.29 ERA.  He made eight starts and 39 appearances in relief.  In 55 career games, Peralta is 13-7 with a 4.79 ERA.  He recorded 211 strikeouts in 163 1/3 innings.

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