BALTIMORE -- Over the past seven-plus months, the Orioles have shown an increased willingness to make long-term financial commitments. Now, they did so again.
Baltimore announced on Friday that it has agreed to a five-year extension with right-hander Shane Baz. The deal is worth $68 million, a source told MLB.com, which would make it the largest contract given to a pitcher in Orioles history (and fifth largest overall).
“When you have people as talented as Shane, we’re very, very happy to have them in a longer-term relationship," control owner David Rubenstein said during a press conference at Camden Yards on Saturday afternoon. "We’re appreciative of his willingness to enter into a longer-term arrangement with us, and we’re trying to do everything we can to make Baltimore a place where players want to be and where fans want to come and where we can put another championship trophy at some point."
Baz joins catcher Samuel Basallo and first baseman Pete Alonso as O’s players under contract through at least the 2030 season. Basallo signed an eight-year, $67 million extension last Aug. 22, while Alonso inked a five-year, $155 million contract on Dec. 11.
The deal for Baz begins now and covers his remaining arbitration years (2027 and ‘28), as well as buys out two free-agent years (‘29 and ‘30). The 26-year-old hasn’t been in the organization long, as he came to the Orioles in a Dec. 19 trade that sent four prospects and a 2026 Competitive Balance Round A Draft pick (No. 33 overall) to the Rays.
"They were extremely professional the whole way. They’ve been first class since the first day I walked through spring. It’s been surreal just to join such a great organization," Baz said. "I think it’s such a good opportunity, it’s such a great team. I think it was kind of a no-brainer for us, just to be in such a great spot. I’m just really excited. I’m really blessed to have the opportunity."
Baz is scheduled to make his Baltimore debut against the Twins on Sunday, when he’ll start the finale of the season-opening three-game series at Camden Yards. He had an impressive first Spring Training with the O’s, recording a 2.61 ERA with 14 strikeouts in 10 1/3 innings over three exhibition starts.
"I know Orioles fans don’t really know me unless they have seen me playing against them, but you’re just going to get a guy that’s going to give you everything I have every time I get on the field," Baz said. "I think my work ethic speaks for itself. It’s just going to be 110% at everything I do."
A first-round Draft pick of the Pirates in 2017, Baz was dealt to the Rays as part of the Chris Archer trade on July 31, 2018. He struggled to stay healthy early in his time with Tampa Bay, making only 23 big league starts from 2021-24 and missing all of the ‘23 campaign after undergoing Tommy John surgery in September 2022.
But Baz put together a full MLB season for the first time in 2025, posting a 4.87 ERA in 31 starts. However, many of his issues came at George M. Steinbrenner Field -- the Yankees’ Spring Training ballpark that served as the temporary home to the Rays for one season -- as he had a 5.90 ERA in 16 home outings and a 3.86 ERA in 15 road appearances.
Baz has a deep arsenal of pitches, headlined by a four-seam fastball that sits around 96-97 mph (per Statcast) and can touch 98-99. He also relies heavily on both a knuckle curve and a cutter, while also mixing in other secondary pitches.
The Orioles are quite high on Baz’s upside, as they believe he could develop into a top-of-the-rotation arm. If he does so this season, he’ll group well with left-hander Trevor Rogers and right-hander Kyle Bradish at the front of Baltimore’s staff.
"We're very excited about this deal and Shane and having him in this organization. He's a great pitcher," president of baseball operations Mike Elias said. "We're very excited about his potential and the fit he has already demonstrated here with our clubhouse and this team."
It’s not surprising that the O’s have spent more money in recent years. The team was purchased by a group led by private equity billionaire David Rubenstein in March 2024, and after that, the club expressed a willingness to spend big.
The financial flexibility has benefited Elias and the Orioles’ front office, as they’ve been willing to shop in the higher ends of the market. They didn’t complete a ton of lucrative deals at first, but that has clearly changed of late, as proven by the commitments to Basallo, Alonso and now Baz.