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2011 MLB Hot Stove: White Sox Officially Announce John Danks Extension

The Chicago White Sox officially announced the terms of the five-year contract extension for LHP John Danks on Thursday. The new deal buys out one of Danks's arbitration years and keeps in Chicago until 2016:

Under terms of the agreement, Danks will receive $8 million in 2012, which was to be his final season of arbitration eligibility, and $14.25 million in each of the 2013-16 seasons.

Danks pitched over 170 innings in 2011, sporting a 4.33 ERA and 3.82 FIP. The soon-to-be 27 year old has pitched 150 games with the White Sox since 2007 and has a decent career 4.03 ERA and 4.14 FIP.

The White Sox blog South Side Sox praised the extension as being overall a fair deal:

On the whole though, it's a fair market deal that works in the White Sox' favor thanks to the organization's talent for handling pitchers.

Stay tuned to SB Nation Chicago for more information, and for in-depth analysis on the Chicago White Sox be sure to visit South Side Sox. Visit Baseball Nation for more news and notes around the league, and check out MLB Daily Dish for off-season rumors and reports.