The Orioles’ restructured two-year deal with right-hander Yovani Gallardo was made official Thursday morning, and Gallardo will be introduced at 1:45 p.m. at the Ed Smith Stadium complex.
The sides agreed to terms Wednesday evening on a two-year deal that would guarantee Gallardo $22 million. The total value of the deal could reach up to $33 million if the Orioles exercise a $13 million third-year option. The deal also includes a $2 million buyout if the team declines the 2018 option.
The team designated first baseman/outfielder Efren Navarro for assignment to make 40-man roster space for Gallardo.
The Orioles salvaged their deal with Gallardo after concerns about his right shoulder emerged during his club physical. Gallardo, 29, originally agreed to terms on a three-year, $35 million deal with a fourth-year option, but the sides were able to quickly restructure a deal that worked for both sides. Even though Gallardo doesn’t get a guaranteed third year, he will make the same salary over the first two years.
The Orioles' 1:45 p.m. press conference in Sarasota to introduce Gallardo will be televised live on MASN.