Texas Rangers have confirmed the acquisition of first baseman Prince Fielder from the Detroit Tigers, with second baseman Ian Kinsler moving in the opposite direction.
Rangers have hailed to arrival of 29-year-old Fielder as one of "the most significant deals" in the club's history.
Tigers are reportedly sending $30m to Texas to offset Fielder's costs, meaning he will subsequently earn $138m over the next seven seasons after approving the deal.
Kinsler, meanwhile, will take home at least $62m over the next four seasons, while a $5m buyout clause on his 2018 club option has also been included.
Rangers manager Ron Washington admitted that he has always been an admirer of Fielder, who is a five-time All Star, and now can't wait to start working with him.
"He has presence," Washington told Rangers' official website. "He has been a very productive player, and he has been a winning player. He plays every day, he plays hard and he plays to win.
"I believe he'll fit right in with the character of our clubhouse. I believe he will be a leader and do the job in the middle of our lineup. We're happy to have him here. I've always liked him."
Tigers president/general manager Dave Dombrowski, meanwhile, commented: "It happened so fast, there's no question."