4:57pm: Romero will receive a $1.25MM bonus, according to Toronto GM Alex Anthopoulous via conference call. The lefty will earn $750K in 2011, $5MM in 2012, and $7.5MM each year from 2013 through 2015. The option in 2016 will be for $13MM with a $600K buyout.
3:24pm: The contract includes a club option for the 2016 season, according to the Blue Jays (via Twitter).
The contract matches Yovani Gallardo's deal for the largest guarantee for a pitcher with fewer than three years of service, excluding foreign hurlers. Rosenthal adds (via Twitter) that this is the largest guarantee ever for a pitcher with fewer than two years of major league service.
Romero, 25, has a 3.53 ERA in his sophomore campaign with 7.8 K/9 and 3.2 BB/9. The extension will buy up all of the former sixth overall pick's arbitration years.