Miguel Cabrera and the Detroit Tigers have agreed an eight-year extension worth $248 million, committing them both to 10 years and $292 million in total, reports CBS Sports.
Reports that a record deal for the two-time MVP have been emerging over the last few weeks with several publications announcing a contract extension was imminent on Thursday afternoon.
The Tigers have now called a press conference and are expected to announce to record deal that sees not only the biggest extension in baseball history signed but also the largest commitment of any team in the MLB.
Cabrera still has $44 million to go on his current $152 million, eight-year deal with the Tigers but his new contract has almost doubled that price.
A Detroit hero, Cabrera is the current defending MVP of the American League and has won the batting title in each of the last three seasons. Not just the best hitter in baseball, Cabrera's presence in the Detroit clubhouse has been a force for good.
With an option for two more years and $30 million each, the deal could be worth as much as $352 million to Cabrera but he will be relying on achievements during the deal in order to activate such a clause.
The previous record for the biggest commitment is $275 million held by the New York Yankees and their deal with Alex Rodriguez. With A-Rod currently banned for the season and sent into exile by his peers, things have got just that little bit worse for the third-baseman with this latest development.