This would be soooooo much easier if it was Frazier instead of Chance.
I certainly wouldn't have a problem with what you are proposing. I have no idea if the Yankee FO or Dellin would be on board.
You give him the extra few guaranteed dollars in order to get the two option years. Give and take.
Given the cost of middle relief on the market I don't think it is unreasonable.
Though it is likely on the high side of what he'd earn over
The order you put it in.
Marry/Blow/Kill. Kap. Gleyber. Chance.