Chris Sale proved himself to be one of the best starters in the American League during his first season as starter in 2012.

And the White Sox are now rewarding him as such.

The lanky left-hander agreed to a five-year, $32.5 million extension with the White Sox on Thursday. Under terms of the contract, Sale, who turns 24 on March 30, will receive $850,000 in 2013, $3.5 million in '14, $6 million in '15, $9.15 million in '16 and $12 million in '17. The White Sox hold options for '18 at $12.5 million and for '19 at $13.5 million.

If either option is declined, Sale will receive a $1 million buyout. If the full contract plays out, Sale potentially could earn $57.5 million over seven years. There's an escalator clause that would raise the 2019 option from $13.5 million to $16 million, bringing the overall total to $60 million, if Sale wins a Cy Young Award.

This new deal replaces the $600,000 Sale was scheduled to earn this season, while also buying out his three arbitration years and his first free-agent season.

"It's nice to be able to, on the one hand, reward Chris for not only his accomplishments on the field, but how hard he works off the field to prepare himself and to achieve at the high level he did last year," said White Sox general manager Rick Hahn of the extension that had been discussed for the past two weeks. "As important to us is the ability to control -- we feel -- one of the premier young starters in the American League potentially for the next seven years.