Right-hander Luis Severino and the Athletics have agreed to a $67 million, three-year contract.

Severino can opt out and become a free agent again after the 2026 season.

It's the largest deal ever for the low-budget franchise, topping a $66 million contract for third baseman Eric Chavez covering 2005-10.

There was skepticism the A's could land a pricey free agent while planning to play the next three seasons in West Sacramento, California, before they hope to move into a new stadium in Las Vegas. That planned project took a step forward Thursday when the Las Vegas Stadium Authority approved lease, non-relocation and development documents that would allow construction of a $1.75 billion stadium on the Strip.

The A's went 69-93 for their third straight losing season in 2024, then left Oakland after 57 seasons.

Severino, who turns 31 on Feb. 20, was a free agent for the second straight offseason after going 11-7 with a 3.91 ERA in 182 innings during his only season with the New York Mets. Those were his best numbers since he was an All-Star for the second straight year with the New York Yankees in 2018.

He left the Yankees last offseason to sign a one-year deal with the Mets guaranteeing $13 million and earned an additional $2 million in performance bonuses.

Severino is 65-44 with a 3.81 ERA in 156 starts and 16 relief appearances for the Yankees (2015-23) and Mets.

Severino turned down a $21.05 million qualifying offer from the Mets, who will receive an extra pick after the fourth round of next July's amateur draft. The Athletics will forfeit their third-highest selection.

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AP Baseball Writer Ronald Blum in New York contributed to this report.

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AP MLB: https://apnews.com/hub/mlb