David Price: 'I'm Opting In,' Staying With Boston Red Sox Through 2022, Avoiding Free Agency

Boston Red Sox starting pitcher David Price announced that he won't exercise his opt-out clause and will remain with the organization through 2022 during the team's World Series parade on Wednesday in downtown Boston.

"I'm opting in," Price said via Chris Mason of The Eagle-Tribune. "I'm not going anywhere. I want to win here."

Price signed a seven-year, $217 million contract in December 2015. His original deal included an opt-out clause that would have allowed him to test free agency this upcoming offseason.

Price needed to to make his decision by the midnight deadline on Wednesday in order to avoid free agency. He will be paid $127 million during the next four seasons with the Red Sox.

Many expected the lefty to stay with the Red Sox after several strong performances in the ALCS and World Series, as well as having arguably his best regular season of his tenure with the franchise.

Price finished with a 16-7 record and a 3.58 ERA in 176 regular-season innings. He also shed the perception of his past postseason struggles by earning his second World Series win during the Red Sox's series-clinching Game 5 victory against the Los Angeles Dodgers on Sunday.

Price recorded five strikeouts while allowing three hits and one earned run during 7.0 innings pitched, helping Boston win its fourth World Series championship since ending its 86-year draught in 2004.

The former Cy Young winner entered Sunday's game with a 4-9 record and a 4.87 ERA in 22 postseason starts, which included losing his first nine playoff decisions prior to defeating Houston in Boston's series-clinching Game 5 victory.

Price also earned his first career World Series win during Game 2 of the World Series against the Dodgers, while also recording two outs during Boston's 18-inning Game 3 loss before starting on three days' rest in Game 5.

The Murfreesboro, Tennessee native was expected to stay with the Red Sox, telling MassLive.com's Chris Smith that he wanted to "continue to be good" in Boston last month.

Price owns a 39-19 record and 3.74 ERA during 480.2 innings since joining the Red Sox in 2015. He spent his first seven seasons with the Tampa Bay Rays, which included an 82-47 record, 3.18 ERA and an AL Cy Young Award in 2012.

The lefty was traded to the Detroit Tigers midway through the 2014 season, where he spent two seasons being deal once again in 2015 to the Toronto Blue Jays.

Price currently has a 143-75 record, 3.25 ERA and 1,853 strikeouts in 1,922.1 innings pitched during his 11-year MLB career.