The San Diego Padres and closer Huston Street have come to terms on a two-year, $14 million extension with a club option for a third season, as first reported by Corey Brock of MLB.com. The deal will replace Street's $9 million mutual option for next year, instead running through 2014 and possibly 2015.
#Padres and Huston Street agree on a 2-year deal for $14m with club option for 2015 worth $7m. Details soon at Padres.com
— Follow The Padres (@FollowThePadres) July 29, 2012
Huston Street's new deal with the Padres. 2013 -- $7 million. $7 million for 2014. A club option at $7 million for 2015, with no buyout.
— Buster Olney (@Buster_ESPN) July 29, 2012
Like outfielder Carlos Quentin, Street goes from a trade deadline candidate to receiving a contract extension. The two sides began talks last Sunday, giving the Padres enough time to move their closer if they couldn't work out a deal.
The 28-year-old Street is currently posting a 0.91 ERA across 29 2/3 innings of work along with a career-high 11.8 K/9 and 2.4 BB/9.