The AP is reporting that Justin Verlander signed an $80 million, five-year contract with the Tigers. The two sides avoid arbitration, and the Tigers buy out a good chunk of Justin’s free agency.

Justin’s strikeouts exploded in 2009. He averaged 7.2 K per 9 his first four seasons, then jumped to 10.1 per 9 last year, coupled with just as outstanding walk and home run numbers. The Tigers must think the change is for real. At those levels, Verlander is certainly an elite pitcher and would likely do very well as a free agent. The Tigers bought his most productive years today and cemented a staff ace for the next half decade.

Tim Lincecum’s asking price in arbitration looks a little better today as well.