The White Sox made their five-year contract extension for left-hander John Danks official on Thursday.
Danks, 26, will receive $8 million in 2012, which would have been his final year of arbitration eligibility, and $14.5 million in each of the 2013-16 seasons, the team announced.
Danks was 8-12 with a 4.33 ERA in a topsy-turvy 2011 season. After losing his first eight decisions, Danks was 8-4 with a 3.69 ERA over his final 16 starts. Danks is 54-56 lifetime with a 4.03 ERA.
The extension was first reported on Dec. 21. It was made official after Danks passed a physical.
"We've tried to get John signed to a multiyear deal for a number of years,'' general manager Ken Williams said.
"We went into the winter meetings, as I tried to explain, looking at all options. This was one of them.
"We explored the trade market, we explored the value there and obviously decided on doing this instead.''
Williams was willing to deal Danks, and still may be in trade mode for right-hander Gavin Floyd, left-hander Matt Thornton and outfielder Carlos Quentin, but only if the price is right on his return.
Williams reportedly asked for two of the Yankees' top prospects for Danks but the Yankees were not listening.
"Of course there was interest [in Danks],'' Williams said. "We consider ourselves fortunate to sign John and John proved that he likes Chicago, likes the organization and wants to be part of putting a winner on the field. What I asked for on the trade market, some things you have to keep in-house, but suffice to say we weren't going to give John Danks away. As I tried to articulate to everyone, the only way we would move any of our impact players is if we got impact players, young players back. So we are still in win mode, but yeah, you can still be in a little bit of a rebuilding phase.
"I tried to articulate it wouldn't be a true rebuilding because we have too many veterans, good ones, who are looking to bounce back. We've filtered in our fair share of minor league players as we've gone along. It was never going to be that traditional rebuilding anyway.''
Danks said he was surprised that the deal got done.
"It came out of nowhere,'' he said.
"My agent called me and we were both surprised and happy.''