Marc Topkin has the details of how the extension talks between the Rays and Jake Odorizzi are going here. He details how the interest is mutual and that they’re getting closer to an agreement.
Steve Adams of MLBTR projects Odorizzi would make somewhere between $20 and $25 million through his arbitration years (2019).
Using that figure as a floor, the Rays could be seeking to buy out one of his free agent years by offering him more during the initial years than he is projected to make.
Something like a 5-year $60 to $70 million agreement would make sense as a result.