MINNEAPOLIS -- The Minnesota Twins on Friday officially announced the contract extension for right-handed pitcher Pablo López.

According to the team, López, 27, is extended through the 2027 season. Multiple media outlets, including SportsGrid's Craig Mish, report the deal is worth $73.5 million.

As of Monday morning, López led the MLB with 33 strikeouts. He's 1-1 in four starts with a 1.73 ERA.

López came to the Twins via trade this offseason. The Twins sent last year's batting champion, Luis Arráez, to the Miami Marlins for the 27-year-old pitcher and two minor leaguers.

RELATED: Twins reportedly reach $73.5M deal to extend red-hot pitcher Pablo López

López is making $5.45 million this season, his second year of arbitration eligibility. The new deal will give the Twins some additional long-term stability around a rotation that has emerged in 2023 as a clear strength of the team. The Twins entered their day off Monday with a 2.58 starting pitcher ERA that was the best in the major leagues.