Chris Archer and the Rays have agreed to a six-year $25.5 million contract, according to multiple reports.
It also includes club options that could push the contract to $5 million. The options call for $9 million in 2020 and $11 million for 2021.
The Rays are scheduled to announce the deal at 11 a.m. today.
Archer, who played for the Biscuits in 2011, was third in the American League rookie of the year voting last year. The right-handed pitcher was 9-7 with a 3.22 ERA for Tampa Bay last season. His ERA was the third lowest by an AL rookie with at least 20 starts over the last 20 years.