Billingsley will earn $6.275 million this season, and his new contract will kick in next year. It will buy out what were going to be Billingsley's first two years of free agency - 2013 and 2014 - and it also comes with a fourth-year option of as yet unknown value.
It looks like a great deal for the Dodgers, and it's a comfortable one for Billingsley, who gets to remain with the only organization he's ever known. The 26-year-old righty owns a career ERA of 3.55 and a strikeout rate of over eight per nine innings, and even more, he's never before suffered an elbow or shoulder injury, so he's proven himself durable. He and Clayton Kershaw are set to form a strong 1-2 punch at the front of the Dodgers' rotation for years to come.