Jerry Crasnick of ESPN.com is reporting that the Rays have signed Matt Moore to a long-term extension. The deal is said to be worth a guaranteed $14 million over five years.

However, in typical Rays fashion, the deal also includes three option years that would bring the value of the deal up to $37.5 million. There are also bonuses built in to the deal that would make it worth $40 million.

Marc Topkin of TampaBay.com is reporting that the exact value, including options is $39.75 million.

This deal is almost identical to the contract Evan Longoria signed shortly after his big league debut. Longoria’s contract was guaranteed for six years, and including options is worth $44.5 million over nine years.