The Detroit Tigers and Miguel Cabrera have reached an agreement on an 8-year, $US248 million extension according to Jon Morosi of FoxSports.com.
That is the third-largest contract in baseball history, behind the $US252 million contract signed by Alex Rodriguez with the Texas Rangers and the $US275 million contract A-Rod signed with the Yankees.
Cabrera still has two years remaining on his 8-year, $US152.3 million contract that will pay $US22 million this season and next. That means the Tigers owe Cabrera $US292 million over the next ten seasons, the largest commitment ever to a single player.
On top of that, the contract has two vesting options that would add two more years to the contract at $US30 million each season according to Jon Heyman of CBSSports.com.
That would bring the total commitment to Cabrera to 12 years and $US352 million.
That’s a big gamble for a player that will turn 31 next month.
Cabrera is the two-time reigning American League MVP and arguably the best hitter in baseball.
Like most large contracts in baseball, the Tigers are likely willing to overpay at the back-end of the deal in hopes that the front-end of the deal leads to a few MVP seasons and a championship or two.
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