The Red Sox and their new ace have a deal.

According to a team source, the Red Sox and Garrett Crochet have agreed to a long-term contract extension that will keep the left-hander in Boston for years to come.

First reported by ESPN’s Jeff Passan, the deal is for six years, $170 million and will begin in 2026. The contract also reportedly includes an opt-out after 2030, one year prior to the deal’s scheduled completion after the 2031 season.

Crochet was originally acquired in a blockbuster trade this past winter in exchange for four prospects, including recent first-round picks Kyle Teel and Braden Montgomery. The 25-year-old is regarded as one of the top young pitchers in baseball, but he was also only under team control for another two seasons, meaning he would have been eligible for free agency after 2026 absent a deal.

Extending Crochet has been a top priority for Red Sox officials ever since the pitcher first arrived, and negotiations had been ongoing throughout the offseason. Crochet had originally set an Opening Day deadline for any agreement, and when Thursday’s opener passed without a deal it appeared talks would be tabled until this coming offseason.

Chief baseball officer Craig Breslow told reporters in Texas on Thursday that the team would respect Crochet’s wishes to push talks off to the offseason, but evidently the two sides were close enough to re-engage and push a deal over the finish line.

The deal is potentially a huge win for both sides, though there is also risk.

For Crochet the deal ensures long-term career and financial stability. Since making his MLB debut in 2020 Crochet has only pitched 224 innings, and last season was his first as a starting pitcher. But he was so dominant, striking out 209 batters while posting a 3.58 ERA in 146 innings, that he was able to command top-line money and can still hit free agency again at age 31.

Meanwhile, the Red Sox are betting that Crochet will continue on his upward trajectory and remain one of baseball’s top pitchers for the rest of the decade and beyond. If he lives up to those expectations, the Red Sox could have a perennial Cy Young contender under contract for less than $30 million annually, a massive bargain for one of the most valuable commodities in the sport.