Luis Severino and Yankees previously engaged in extension talks

The New York Yankees and ace Luis Severino are scheduled to convene with an arbitrator to discuss Severino's salary for the 2019 season. However, the Yankees have also shown interest in keeping the left-hander for the long term. According to Jon Heyman of MLB Network, the Yankees and Severino previously had extension talks, although it's unclear how close either side is in the negotiation process.

Yankees and Luis Severino have had extension talks, as well, but no word they are close yet. Sevy’s scheduled arb hearing has yet to be heard.

— Jon Heyman (@JonHeyman) February 13, 2019

It's a rarity for the Yankees to hand out or even discuss extensions; the last time the team agreed to an extension was in 2014. New York Yankees outfielder Brett Gardner agreed to a four-year, $52 Million contract, which took him into the 2018 season. The team recently bought out Gardner's previous contract and provided him with a one-year deal in 2019. Severino went 19-8 with a 3.39 ERA and a 1.145 WHIP in 191.1 innings in 2018. However, Severino had a poor second-half of the season, going 5-6 with a 5.57 ERA in 12 starts. Severino's second-half struggle could be a deciding factor in his upcoming arbitration hearing. The 24-year-old recently filed at $5.25 Million while the Yankees countered at $4.4 Million. MLB Trade Rumors projects Severino will make approximately $5.1 Million in 2019.