Nolan Arenado and the Colorado Rockies are finalizing an eight-year contract extension worth $260 million, according to ESPN.
Here are some quick winners and losers from the record-setting megadeal:
The deal, which includes an opt-out after three years and a no-trade clause, gives Arenado the largest per-year salary of any position player in MLB history at $32.5 million.
The previous record for a position player was $31 million, held by the Detroit Tigers' Miguel Cabrera. Arizona Diamondbacks pitcher Zack Greinke has the highest average salary at $34.4 million.
Winner: the Rockies
Rockies manager Bud Black recently confessed to San Diego's 97.3 The Fan that he anticipated the Rockies being able to sign a long-term deal with Arenado, who was scheduled to become a free agent following the 2019 season. The eight-year contract replaces his one-year deal for 2019 and runs through 2026.
"I think we're all optimistic that something can get worked out," Black had said. "I don't know whether it's next week, next month, or during the season, but I'm thinking very optimistically on this one."
The 27-year-old Arenado has won six Gold Glove awards at third base and made four straight All-Star appearances. In 2018, he had 38 home runs and 110 RBIs with a slash line of .297/.374/.561 as the Rockies won 91 games and reached the National League Division Series.
Losers: teams that were waiting for Arenado
The deal is bad news for teams that may have pursued Arenado in free agency, such as the Texas Rangers, New York Yankees and Los Angeles Dodgers.
Winner: Bryce Harper/Loser: the Philadelphia Phillies
It's also highly inconvenient for the Phillies, who lost significant leverage in their ongoing contract negotiations with Harper, the free-agent slugger.
94WIP host Angelo Cataldi reported Tuesday morning that a potential 10-year, $330 million deal between Harper and the Phillies is at a standstill over the inclusion of the very thing Arenado just received: an opt-out clause for after Year 3.
"(Harper's agent) Scott Boras, from Day 1, has insisted that there be an opt-out clause in there, quite honestly, because he's not positive that Harper will like it here. That is part of the whole situation," Cataldi said. "Boras said we have to have an opt-out and it has to be after Year 3."
Will the Phillies give in on the opt-out clause? After Arenado got one, they might no longer have a choice -- and they might have to give him a no-trade clause as well.
With Philadelphia's 94WIP