The Boston Red Sox have gotten a head start on their offseason business. The Red Sox and All-Star closer Aroldis Chapman have agreed to an extension, the team announced Sunday. The one-year deal, which includes a $1 million signing bonus, is worth $12 million for 2026 and includes a $13 million vesting option for 2027 if he hits 40 innings pitched, according to the Boston Globe. If that option doesn't vest, there's a $13 million mutual option with a $300,000 buyout. Escalators are also built in for various awards, including the newly introduced Reliever of the Year award. In other words, Chapman's new contract keeps him out of free agency this winter and in Boston for at least one more season.

"As we can sit here today and we look at a closer having a historically good season, it has to be something that you consider," Chief Baseball Officer Craig Breslow told the Boston Globe when asked about extending Chapman this past week. "Obviously it takes both sides to work through some things. I think he's been outspoken about how much he's enjoyed it here."

Chapman, 37, is having an off-the-charts good season. He is 26 for 28 in save chances with 74 strikeouts in 52 innings. He's walked a career-low 7.3% of batters faced, and opponents are hitting only .119 against him. Based on the contact quality he's allowed (exit velocity, etc.), Statcast pegs Chapman's expected ERA at 1.97 and his expected batting average against at .167.

Even this late into his career, Chapman still hits 100 mph regularly -- he's topped out at 103.1 mph this year -- and he's evolving as a pitcher. He's incorporating more sinkers, sliders, and splitters into his arsenal. As recently as 2023, Chapman was a grip-it-and-rip-it fastball/slider guy. Extending pitchers in their late 30s is always risky, though Chapman really is as good as ever.

At some point next year, Chapman will become the all-time strikeout leader for a reliever, as long as he stays healthy and effective. Here are the most strikeouts as a reliever (strikeouts as a starter aren't included):

1. Hoyt Wilhelm: 1,363
2. Goose Gossage: 1,340
3. Aroldis Chapman: 1,320
4. Craig Kimbrel: 1,270
5. Kenley Jansen: 1,269

Chapman is sixth all-time among relievers with 25.1 FanGraphs WAR and he could pass Gossage (28.8 WAR) to move into sole possession of second place all-time behind Mariano Rivera (38.6 WAR) when it's all said and done. Billy Wagner's recent induction into the Hall of Fame figures to help pave the way for Chapman to one day be voted into Cooperstown.

With Chapman locked up, Boston's most significant impending free agent is righty Lucas Giolito, who's pitched to a 3.47 ERA in 119 ⅓ innings this year after missing 2024 with elbow surgery. Giolito's $14 million club option will convert to a $19 million mutual option when he reaches 140 innings. The 31 year old would very likely decline his end of the mutual option and test free agency.

Chapman and the Red Sox enter play Sunday in the second American League wild card spot with a 75-62 record. They are 3 ½ games behind the Toronto Blue Jays in the AL East and 4 ½ games up on a postseason berth.