Orioles sign Cashner to two-year, $16 million deal (updated)

SARASOTA, Fla. - The Orioles now have three confirmed starting pitchers.

The club has reached agreement with right-hander Andrew Cashner on a two-year contract worth a guaranteed $16 million, according to multiple sources. The deal is done and the club is expected to announce it shortly.

Cashner joins a rotation that includes Dylan Bundy and Kevin Gausman. One spot is expected to be filled internally.

The contract includes a $10 million vesting option for 2020 if he totals 360 innings over the next two seasons and is heavy in incentives, according to a source.

Update: The option vests at 340 innings and becomes a player option at 360 innings, according to ESPN.com.

The Orioles had immediate interest in Cashner, 31, after he went 11-11 with a 3.40 ERA and 1.320 WHIP in 28 starts with the Rangers. It appeared at one point that they were moving on from him, but they finalized a deal earlier today.

Cashner is 42-64 with a 3.80 ERA and 1.319 WHIP in eight major league seasons. He's also pitched for the Cubs, Padres and Marlins.

Cashner averaged only 4.6 strikeouts per nine innings last summer, the lowest mark of his career. He averaged 7.9 strikeouts per nine innings in 2015-2016.

More to come.

Update II: Executive vice president Dan Duquette isn't ready to confirm the deal, saying a few more details must be finalized and an announcement could come later today.

Cashner's deal could max out at $41 million over three years if he also reaches incentives.

The Orioles must clear a spot on the 40-man roster.

Update III: Cashner will be paid $5 million in 2018 and $8 million in 2019, with $3 million deferred from 2020-2022.

The Orioles have been working on this deal since November, when vice president of baseball operations Brady Anderson met with Cashner.

The official announcement may be delayed while the Orioles await the approval of Major League Baseball.

Cashner posted a career-high 4.6 WAR in 2017.