MLB News: Boston Red Sox Sign David Price

The latest MLB news has David Price signing a massive contract with the Boston Red Sox, according to ESPN.

Last season, the Red Sox pitching rotation struggled. It was a major reason why Boston finished with a 78-84 record, which put them dead last in the AL East division. Manager John Farrell and general manager Mike Hazen knew that they would need to upgrade this position if they wanted to be more competitive when the season starts next spring.

The solution came in the form of Price.

Price came at a cost. Boston got him to sign on the dotted line by offering a seven-year contract worth $217 million, which averages out to approximately $31 million a season. No pitcher in Major League Baseball makes as much as Price does now. His year salary also equals that of Detroit Tigers first baseman Miguel Cabrera. The Red Sox have never broken the bank like this before on a pitcher. Rick Porcello held the previous record and that was only a four year contract worth $82.5 million.

Last season, Price played for the Tigers and Toronto Blue Jays, who were 15 games ahead of Boston and actually won the AL East division. The 30-year-old won 18 games with only five losses. Price led the American League in ERA with a 2.45 average.

One of the things that helped the Red Sox secure the services of Price, who was the first overall pick in the 2007 MLB Draft by the Tampa Bay Rays, is his relationship with a top executive. When David was playing for the Tigers in 2014, Dave Dombrowski was serving as the general manager in Detroit. He now serves as the president of baseball operations for the Red Sox.

The hope in Boston is that Price will be able to replace the left handed Jon Lester, who was traded to the Oakland Athletics in 2014. The Red Sox really regretted the transaction so they attempted to bring the 31-year-old pitcher back to town during free agency. Lester was not interested and signed with the Chicago Cubs on a six-year contract worth $155 million.

In price, the Red Sox locked down one of the two best starters on the free agent market. The other star in free agency is Zack Greinke, who will command a contract that is less than the one that Price signed with Boston because of injury concerns. Many believe that the Los Angeles Dodgers will be able to put together a deal sweet enough to entice Greinke to stick around. There were rumors that Boston was also interested in Greinke had they not been able to get Price to sign with them.

Boston took a risk last year by using mediocre and average pitchers in their starting rotation. That backfired and led to them not being able to catch up to the Blue Jays and the New York Yankees in the AL East. Management did not want a repeat of last year, so they rolled out the carpet for Price, who should be able to help the Red Sox secure a couple of more wins next season.

[Featured Photo by Jamie Squire/Getty Images]