Jake Arrieta will not opt out of the final year of the three-year, $75 million contract he signed with the Phillies prior to the 2018 season, according to MLB Network insider Jon Heyman. The right-hander is owed $20 million for the 2020 season.

The Phillies have not commented or confirmed the report.

Arrieta, 33, posted a 4.64 ERA over 24 starts before a bone spur in his elbow required surgery and cut his season short. He has made 55 starts with a 4.26 ERA over two seasons with the Phillies.

Prior to joining Philadelphia as a free agent, Arrieta spent five seasons with the Cubs, winning the 2015 National League Cy Young Award after turning in one of the best post-All-Star break performances in history and finishing the season with a 1.77 ERA. He also helped the Cubs win their first World Series in 108 years in 2016.