The Tampa Bay Rays have agreed to a contract extension with right-handed pitcher Tyler Glasnow through 2023, the team announced on Friday.

Glasnow, who was set to make $5.35 million in 2023, will get a significant raise to $25 million in 2024, a source confirmed to ESPN's Jeff Passan.

The Tampa Bay Times was first to report the value of Glasnow's deal for the 2024 season.